Urban-Gro, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year 2020
January 04, 2021 at 06:35 pm IST
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urban-gro, Inc. provided earnings guidance for the fourth quarter and full year 2020. For the fourth quarter, expects its preliminary and unaudited fiscal fourth quarter 2020 revenue to be between $9.0 million and $9.3 million, compared to $7.1 million in its fiscal fourth quarter 2019, representing more than a 26% increase. The company expects its preliminary and unaudited fiscal fourth quarter 2020 net loss to be between negative $1.7 million and negative $1.4 million, compared to negative $2.6 million in its fourth quarter of 2019.
For the year, the company expects Preliminary and unaudited fiscal year 2020 revenue is expected to be between $25.6 million and $25.9 million, compared to $24.2 million reported in its fiscal year 2019. This expected increase in revenue was driven by an increase in the shipment of complex environmental equipment systems and sales of other cultivation equipment predominantly tied to design contracts signed. The company expects Preliminary unaudited fiscal year 2020 net loss is expected to be between negative $5.7 million and negative $5.4 million, compared to negative $8.4 million in its fiscal year 2019.
urban-gro, Inc. is an integrated professional services and design-build firm. The Company offers value-added architectural, engineering, and construction management solutions to the Controlled Environment Agriculture (CEA), industrial, healthcare, and other commercial sectors. It creates indoor cultivation facilities to grow specialty crops, including cannabis as well as produce such as leafy greens, vegetables, herbs and berries. It provides its clients with design-build service offerings that include architectural, interior, and engineering design, construction and construction management, as well as services for the operational stages of the facility. The Company's pre-construction services include providing a forecast summary of what it takes to get a high-performance facility built, giving initial indication and detailed analysis of budget, timeline/schedule, and potential large decision impacts, including value analysis and value engineering options.