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urban-gro, Inc. Reports Preliminary Fourth Quarter and Fiscal Year 2020 Results

Written by Customer Service on . Posted in Public Companies.

Record Q4 2020 revenues of $9.0 million to $9.3 million, which would represent an increase of at least $2.9 million (26%) from revenues of $7.1 million reported in Q4 2019.
Record 2020 revenues of $25.6 million to $25.9 million, which would represent an increase of at least $1.4 million (6%) from revenues of $24.2 million reported in 2019.Net loss for Q4 2020 of negative ($1.7) million to negative ($1.4) million, which would represent an improvement of at least $0.9 million from net loss of negative ($2.6) million in Q4 2019.Net loss for 2020 of negative ($5.7) million to negative ($5.4) million, which would represent an improvement of at least $2.7 million from net loss of negative ($8.4) million in 2019.Company expects to achieve positive Adjusted EBITDA for the second quarter in a row and achieve full-year 2020 Adjusted EBITDA of negative ($0.9) to ($0.7) million, which would represent an improvement of at least $2.4 million from negative ($3.3) million in 2019.Company enters 2021 with contractually committed orders for environmental and cultivation equipment systems for which revenue has not been recognized (“Backlog”) exceeding $14 million.LAFAYETTE, Colo., Jan. 04, 2021 (GLOBE NEWSWIRE) — urban-gro, Inc. (OTCQX: UGRO) (“urban-gro” or the “Company”), a leading global horticulture services company that engineers and designs commercial Controlled Environment Agriculture (“CEA”) facilities and integrates complex environmental equipment systems into these high-performance facilities, announced today its preliminary and unaudited expected Revenues, Net Loss, and Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) for its fourth quarter and fiscal year ended December 31, 2020.In addition, the Company expects to achieve positive Adjusted EBITDA for the second quarter in a row, with Adjusted EBITDA for fiscal year 2020 expected to be between negative ($0.9) to ($0.7) million, which represents an improvement of more than $2.3 million from Adjusted EBITDA of negative ($3.3) million reported for the full fiscal year 2019. urban-gro expects to file its Form 10-K for the year ending December 31, 2020 by the filing deadline of March 31, 2021.About urban-gro, Inc.

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