secwatch.observer — SEC 8-K summary
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Issuer:     urban-gro, Inc. (UGRO)
CIK:        0001706524
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001706524-23-000078
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1706524/000170652423000078/0001706524-23-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1706524/000170652423000078/ugro-20230814.htm
  HTML page:      https://secwatch.observer/filing/0001706524-23-000078

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