---
schema_version: "secwatch.filing_event.v1"
accession: "0001706524-23-000040"
form_type: "8-K"
ticker: "UGRO"
cik: "0001706524"
company_name: "urban-gro, Inc."
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T06:37:53.727555+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001706524-23-000040
- form_type: 8-K
- ticker: UGRO
- cik: 0001706524
- company_name: urban-gro, Inc.
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1706524/000170652423000040/0001706524-23-000040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1706524/000170652423000040/ugro-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001706524-23-000040
- JSON: https://secwatch.observer/filing/0001706524-23-000040.json
- Plain text: https://secwatch.observer/filing/0001706524-23-000040.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1706524/000170652423000040/0001706524-23-000040-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.