urban-gro restates 2022-2023 financials due to deferred tax liability accounting error; Q2 revenue prelim $17.5M

urban-gro, Inc.

Restatement covers FY 2022 and 2023 and Q1 2024; prior filings should no longer be relied upon.
Error: deferred tax liabilities from share-purchase acquisitions should have been income tax benefits; correction reduces cumulative net losses.
No material impact on revenue, Adjusted EBITDA, or cash flows per company and auditor Sadler Gibb.
Q2 2024 preliminary revenue of $17.5M, up 13% sequentially; CEO cites accelerating Q3 performance.
Company unable to file Q2 10-Q on time; expects to file amended 10-K and 10-Q after re-audit of 2022 financials.

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