Urban-gro Q1 revenue $16.8M, net loss $5.1M, backlog record $105M

urban-gro, Inc.

2023-Q1 EPS reported -$0.48 revenue$16,765,385

Revenue of $16.8M, down 20% YoY from $21.1M; net loss of $5.1M ($0.48/share) vs. $0.7M loss in Q1 2022.
Adjusted EBITDA negative $3.4M, compared to positive $0.4M a year earlier; gross margin fell to 17% from 23%.
Record project backlog of $105M as of March 31, 2023, up 13% sequentially from $93M at year-end 2022.
Full-year 2023 guidance reaffirmed: revenue $100M–$120M and Adjusted EBITDA –$3M to slightly positive.
Company initiated cost optimization in Q2, generating ~$2M in annualized savings.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

urban-gro, Inc. reported first quarter of 2023 results: revenue $16.8 million, net income $5.1 million, EPS $0.48 loss per share. Guidance reaffirmed.

Period: first quarter of 2023
Revenue: $16.8 million
Net income: $5.1 million
EPS: $0.48 loss per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Inc. Reports First Quarter 2023 Financial Results and Reiterates Full Year 2023 Guidance • First quarter performance consistent with prior guidance with Revenue of $16.8 million • Net Loss of $5.1 million and negative Adjusted EBITDA 1 of $3.4 million • Record project backlog of $105 million as of March 31, 2023, as compared to backlog at the end of 2022

View on SEC.gov

3 earnings releases filed in the last 30 days. Browse all earnings releases →

urban-gro, Inc. filing history →

Source: SEC EDGAR

accession 0001706524-23-000040

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.