urban-gro reports record backlog of $87 million heading into 2023

urban-gro reported a record backlog entering its 2023 fiscal year and reaffirmed its financial guidance for the fourth quarter of 2022.

”We have demonstrated through our record backlog entering 2023 and reaffirmed fourth quarter 2022 financial guidance that we can continue to deliver growth in the face of broader market headwinds due to our integrated solutions and sector diversification efforts,” commented Bradley Nattrass, Chairman, CEO of urban-gro. “As we move into 2023, our team is aligned and laser-focused on scaling the Company to service the increased demand that is evidenced by the signed contracts present in our record backlog. We are experiencing continued momentum in our commercial design-build and services businesses.”

Record fourth quarter 2022 backlog of approximately $87 million
The Company expects to enter 2023 with a record consolidated backlog of approximately $87 million, a sequential increase of approximately $20 million from the third quarter of 2022.  

Reaffirms fourth quarter 2022 guidance
The Company is reaffirming its expectation for fourth quarter 2022 guidance, with revenue of approximately $17 million and Adjusted EBITDA of approximately ($1.5) million.

2023 ICR Conference Fireside Chat
Tuesday, January 10, 2023, at 3:00 pm ET

Bradley Nattrass, Chairman, and CEO of urban-gro, will participate in a fireside chat on Tuesday, January 10, at 3:00 pm ET in Palazzo E. Additionally, management will be available for investor meetings with registered participants on Monday, January 9, and Tuesday, January 10. A live audio webcast of the fireside chat will be accessible in the News & Events section on the Company’s Investor Relations website at ir.urban-gro.com

For more information:
urban-gro
urban-gro.com    

 


Publication date:



Receive the daily newsletter in your email for free | Click here


Other news in this sector:


Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber