urban-gro Q2 2023 revenue $18.8M, net loss $5.4M, cuts FY2023 guidance

urban-gro, Inc.

2023-Q2 EPS reported -$0.97 revenue$35,602,930

Revenue $18.8M (+12% seq, +16% YoY); net loss $5.4M ($0.50/share) vs $1.7M loss prior year.
Adjusted EBITDA -$2.0M, improved $1.4M sequentially; FY2023 guidance: rev $90-95M, Adj EBITDA -$5 to -$6M.
Backlog fell to $79M from $105M; a cannabis project with funding uncertainty contributed to decline.
Cash $8.6M, zero bank debt; SG&A reduced ~$3M annualized YTD.
Gross margin 15% vs 22% prior year; non-operating expense includes $1.5M legal settlement.

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 0.9

urban-gro, Inc. reported the quarter ended June 30, 2023 results: revenue $18.8 million, net income $5.4 million, EPS $0.50 loss per share. Guidance reaffirmed.

Period: the quarter ended June 30, 2023
Revenue: $18.8 million
Net income: $5.4 million
EPS: $0.50 loss per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

urban-gro, Inc. Reports Second Quarter 2023 Financial Results • Revenue of $18.8 million, representing a sequential increase of 12% over $16.8 million, and a 16% increase over $16.3 million in the prior year period • Net Loss of $5.4 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

urban-gro, Inc. reported Full Year 2023 results: revenue $90 million to $95 million. Guidance reaffirmed.

Period: Full Year 2023
Revenue: $90 million to $95 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

For the 2023 full year, the Company is updating its guidance as follows: Consolidated revenue: $90 million to $95 million Adjusted EBITDA 1 : negative $6 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

urban-gro, Inc. reported the first six months of 2023 results: revenue $35.6 million, net income $10.6 million, EPS $0.97 per share.

Period: the first six months of 2023
Revenue: $35.6 million
Net income: $10.6 million
EPS: $0.97 per share
Result: reported results

Exact text from the filing

Revenue was $35.6 million for the first six months of 2023 compared to $37.3 million in the prior year period, representing a decrease of $1.7 million, or 5%. Net loss was $10.6 million, or $0.97 per share, for the first six months of 2023

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

urban-gro, Inc. filing history →

Source: SEC EDGAR

accession 0001706524-23-000078

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