LAFAYETTE, CO – urban-gro, inc. (NASDAQ:UGRO), a full services and Design-Build firm, has been awarded a contract to provide design services for the renovation of the Davidson Student Center at Columbus State University (CSU) in Columbus. , Georgia. The company announced today that the project will renovate the much-used student center that was built in two phases in 1968 and 1978.
Renovation plans include the modernization of student service areas, work spaces, updates to comply with health safety and building codes, and interior design enhancements. The addition of windows is intended to enhance natural light and views, while adaptive and flexible living spaces must be integrated to meet the changing needs of students.
Bradley Nattrass, chairman and CEO of urban-gro, expressed excitement at the opportunity to continue the company's nearly decade-long relationship with CSU, emphasizing the company's local relationship with the university and the wider Columbus community.
urban-gro, known for its facilities management, engineering, and construction solutions, operates throughout North America and Europe. The company operates in a variety of sectors including Controlled Environment Agriculture (CEA), industrial, healthcare, and other commercial industries, focusing on delivering customer insights through innovation and collaboration.
This 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 consolidation of receivables, revenue. forecasting, 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 do not include any promotional content or independent testing. The company's forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those projected.
In other recent news, urban-gro Inc. has secured a project to build a new PF Chang restaurant in Westminster, Colorado, marking a significant development in the hospitality industry. The project is expected to start in the third quarter of 2024, with most of the revenue expected to be received within the next six months. In addition, urban-gro has contracts valued at approximately $12 million in the cannabis sector, providing engineering, construction, design, equipment procurement, and construction management services for various cultivation and retail projects. The company expects to see the majority of revenue from these deals by the end of the third quarter of 2024.
urban-gro also expanded its stock incentive plan with an additional 1.2 million shares and appointed Sadler, Gibb & Associates LLC as its new public registered investment firm. These measures underscore the company's commitment to strengthening accounting and financial reporting practices. In terms of financial performance, urban-gro exceeded its first-quarter 2024 revenue guidance by $15.5 million and maintains its full-year revenue guidance of more than $84 million. This is among the latest developments in urban-gro.
InvestingPro Insights
As urban-gro, Inc. (NASDAQ:UGRO) begins renovations to the Davidson Student Center at Columbus State University, investors may consider the company's financial health and market performance. According to InvestingPro data, urban-gro has a market capitalization of approximately $16.38 million, reflecting its size in the industry. Notably, the company's revenue for the last twelve months from Q1 2024 stood at $70.32 million, with a growth rate of 12.08%, indicating a positive trend in earnings. However, with a gross profit margin of 15.03% over the same period, one of InvestingPro's tips indicates that urban-gro suffers from weak gross profit margins, which could be a concern for profitability.
Stock price movements have been highly volatile, as another InvestingPro Tip suggests, reflected in price-to-return metrics. In the past six months, the stock has seen a significant decline in value, with a negative return of -38.43%, although there was a slight increase of 4.72% in the last three months. It is also important to note that urban-gro does not pay dividends to its shareholders, which can affect investment decisions for those looking for a regular way to access their funds.
For investors looking to dive deeper into urban-gro finance and market performance, additional InvestingPro tips are available on the platform. These tips provide insight into factors such as burn rate, debt levels, and profit forecasts. Meanwhile, there are 10 more tips listed in InvestingPro's urban-gro, which can be found at
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