Urban-gro, Inc. Provides Earnings Guidance for the First Quarter Ended March 31, 2021
April 13, 2021 at 06:35 pm IST
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urban-gro, Inc. provided earnings guidance for the first quarter ended March 31, 2021. For the quarter, the company expects its preliminary and unaudited revenue to be between $11.8 and $12.1 million, compared to $4.3 million in its fiscal first quarter 2020, representing more than a 174% increase. This expected increase in revenue was primarily driven by an increase in the shipment of complex environmental and cultivation equipment systems from contracts signed in 2020. This also represents an increase of at least $2.6 million over fourth quarter of 2020 revenues, which were $9.2 million. It expects its preliminary and unaudited fiscal first quarter 2021 income/(loss) from operations to be between ($0.1) and $0.2 million which represents an improvement of at least $1.3 million when compared with ($1.4) million a year prior.
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.
URBAN-GRO, INC. 
