secwatch.observer — SEC 8-K summary
======================================

Issuer:     urban-gro, Inc. (UGRO)
CIK:        0001706524
Form:       8-K
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0001706524-23-000040
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1706524/000170652423000040/0001706524-23-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1706524/000170652423000040/ugro-20230510.htm
  HTML page:      https://secwatch.observer/filing/0001706524-23-000040

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer