LAFAYETTE, CO – urban-gro, Inc. (NASDAQ:UGRO), a full-service design-build and professional services firm, has been retained to provide design services for the renovation of the Davidson Student Center at Columbus State University (CSU) in Columbus, Georgia. The firm announced today that the project will renovate the heavily used student center, which was originally constructed in two phases during 1968 and 1978.
Renovation plans include a modernization of student service areas, activity spaces, building and safety code compliance upgrades, and interior design improvements. The addition of windows is intended to enhance natural lighting and views, while modular seating and flexible spaces will be integrated to meet the changing needs of students.
Bradley Nattrass, president and CEO of urban-gro, expressed excitement about the opportunity to continue the company’s nearly two-decade partnership with CSU, emphasizing the company’s local ties to the university and the broader Columbus community.
Recognized for its value-added architectural, engineering and construction management solutions, Urban-gro operates across North America and Europe. The firm serves a variety of sectors including controlled environment agriculture (CEA), industrial, healthcare and other commercial industries, and focuses on realizing clients’ visions through innovation and collaboration.
The announcement also included a safe harbor statement describing forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. The company highlighted potential risks and uncertainties that could affect actual results, such as the integration of acquisitions, revenue forecasts, competition, regulatory actions, weather conditions, supply chain issues, economic factors and the ability to maintain key business relationships.
This news is based on a press release from urban-gro, Inc. and does not include any promotional content or subjective evaluation. The company’s forward-looking statements are subject to various risks and uncertainties that may cause actual results to differ from those projected.
In other recent news, urban-gro Inc. has secured a project to build a new PF Chang’s restaurant in Westminster, Colorado, marking a significant development in the hospitality industry. This project is expected to begin in the third quarter of 2024, with the majority of revenue anticipated to be recognized within the next six months. Additionally, urban-gro has signed contracts valued at approximately $12 million in the cannabis sector, providing engineering, architecture, design, equipment procurement, and construction management services for various cultivation projects and retail dispensaries. The company expects to recognize the majority of revenue from these deals by the end of the third quarter of 2024.
Urban-gro has also expanded its equity incentive plan by an additional 1.2 million shares and appointed Sadler, Gibb & Associates LLC as its new independent registered public accounting firm. These moves underscore the firm’s commitment to sound accounting and financial reporting practices. In terms of financial performance, Urban-gro exceeded its Q1 2024 revenue forecast by $15.5 million and maintains its full-year revenue forecast of more than $84 million. Here are some of the recent developments at Urban-gro.
InvestingPro Insights
As urban-gro, Inc. (NASDAQ:UGRO) embarks on the renovation of the Davidson Student Center at Columbus State University, investors may be considering the company’s financial health and market performance. According to InvestingPro data, urban-gro has a market capitalization of roughly $16.38 Million, reflecting its size within the industry. Notably, the company’s revenue for the trailing twelve months as of Q1 2024 stood at $70.32 Million, with a growth rate of 12.08%, indicating a positive trajectory in earnings. However, with a gross profit margin of 15.03% for the same period, one of InvestingPro’s tips notes that urban-gro suffers from weak gross profit margins, which could be a concern for profitability.
The stock’s price movements have been quite volatile, as another InvestingPro tip suggests, which is reflected in the total price return metrics. Over the past six months, the stock has seen a substantial decline in value, with a negative return of -38.43%, although there has been a slight uptick of 4.72% over the past three months. It is also worth noting that urban-gro does not pay dividends to shareholders, which could influence the investment decisions of those looking for regular income streams from their investments.
For investors looking for a deeper analysis of urban-gro’s financials and market performance, additional InvestingPro tips are available on the platform. These tips offer insight into aspects such as cash burn rate, debt levels and profitability forecasts. There are currently 10 additional tips on InvestingPro for urban-gro, which can be found at https://www.investing.com/pro/UGRO.
This article was generated with the support of AI and reviewed by an editor. For more information, please see our terms and conditions.