---
schema_version: "secwatch.filing_event.v1"
accession: "0001706524-24-000012"
form_type: "8-K"
ticker: "UGRO"
cik: "0001706524"
company_name: "urban-gro, Inc."
filed_at: "2024-03-27T23:59:59+00:00"
generated_at: "2026-06-04T07:15:29.985076+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# urban-gro FY2023 rev $71.5M, net loss $18.7M; backlog $110M, FY2024 guide positive EBITDA

## Summary
- FY2023 revenue $71.5M, up 6.7% YoY; net loss $(18.7)M vs $(15.3)M prior year.
- Q4 2023 revenue $15M, net loss $(4.7)M; Adjusted EBITDA negative $3.0M.
- Backlog $110M at Dec 31, 2023, a sequential increase of $26M.
- FY2024 outlook: revenue at least $84M (17.4% growth) and positive Adjusted EBITDA.
- Annualized cost reductions of >$8M implemented; Q1 2024 revenue guided at or above $15M.

## SEC filing metadata
- accession: 0001706524-24-000012
- form_type: 8-K
- ticker: UGRO
- cik: 0001706524
- company_name: urban-gro, Inc.
- filed_at: 2024-03-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1706524/000170652424000012/0001706524-24-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1706524/000170652424000012/ugro-20240327.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001706524-24-000012
- JSON: https://secwatch.observer/filing/0001706524-24-000012.json
- Plain text: https://secwatch.observer/filing/0001706524-24-000012.txt

## Key facts
- Earnings Releases
  urban-gro, Inc. reported Full Year 2024 results: revenue more than $84.0 million. Guidance initiated.
  - Period: Full Year 2024
  - Revenue: more than $84.0 million
  - Guidance: initiated
  - Result: guidance update
  source text: Full Year 2024 Guidance • Revenue of more than $84.0 million , representing growth of at least 17.4% • Positive Adjusted EBITDA 1
  evidence_url: https://www.sec.gov/Archives/edgar/data/1706524/000170652424000012/0001706524-24-000012-index.htm
- Earnings Releases
  urban-gro, Inc. reported full year ended December 31, 2023 results: revenue $71.5 million, net income $(18.7) million.
  - Period: full year ended December 31, 2023
  - Revenue: $71.5 million
  - Net income: $(18.7) million
  - Result: reported results
  source text: Full Year 2023 Results vs Prior Year Period: • Revenue of $71.5 million , a 6.7% increase from $67.0 million • Net income (loss) of $(18.7) million , as compared to $(15.3) million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1706524/000170652424000012/0001706524-24-000012-index.htm
- Earnings Releases
  urban-gro, Inc. reported First Quarter 2024 results: revenue at or better than $15.0 million. Guidance initiated.
  - Period: First Quarter 2024
  - Revenue: at or better than $15.0 million
  - Guidance: initiated
  - Result: guidance update
  source text: First Quarter 2024 Preliminary Guidance vs Prior Year Period: • Revenue at or better than $15.0 million, as compared to $16.8 million • Adjusted EBITDA 1 at or better than ($0.5) million, as compared to $(3.4) million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1706524/000170652424000012/0001706524-24-000012-index.htm
- Earnings Releases
  urban-gro, Inc. reported fourth quarter ended December 31, 2023 results: revenue $15.0 million, net income $4.7 million, EPS $(0.40) per share.
  - Period: fourth quarter ended December 31, 2023
  - Revenue: $15.0 million
  - Net income: $4.7 million
  - EPS: $(0.40) per share
  - Result: reported results
  source text: Revenue was $15.0 million , as compared to $17.3 million in the prior year period. This decrease from the prior year period was driven by lower construction Design-Build revenue of $1.3 million , and lower professional services revenue of $0.8 million . Gross profit was $1.7 million , or 11% of revenue as compared to $3.2 million , or 19% of revenue in the prior year period. The decrease in gross profit correlates to the decrease in revenue as well as a shift in mix toward lower margin construction design-build revenue. This was further impacted by a project cost revision in the fourth quarter that negatively impacted project profitability. Operating expenses were $6.4 million as compared to $6.2 million in the prior year period, representing an increase of $0.2 million . The increase in operating expenses was primarily due to increased legal expenses. On an annualized basis, the Company expects a year-over-year reduction of more than $8.0 million in operating expenses in 2024 primaril
  evidence_url: https://www.sec.gov/Archives/edgar/data/1706524/000170652424000012/0001706524-24-000012-index.htm

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