urban-gro to renovate Columbus State University center By Investing.com

LAFAYETTE, CO – urban-gro, Inc. (NASDAQ:UGRO), a comprehensive professional services and Design-Build firm, has been contracted 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 revamp the heavily utilized student center which was originally constructed in two stages during 1968 and 1978.

The renovation plans include a modernization of student service areas, activity spaces, compliance updates for life safety and building codes, and interior design enhancements. The addition of windows is aimed at improving natural lighting and views, while modular seating and flexible spaces are to be integrated to cater to evolving student needs.

Bradley Nattrass, Chairman and CEO of urban-gro, expressed enthusiasm about the opportunity to continue the firm’s nearly two-decade-long partnership with CSU, emphasizing the company’s local ties to the university and the wider Columbus community.

urban-gro, recognized for its value-added architectural, engineering, and construction management solutions, operates across North America and Europe. The firm serves various sectors including Controlled Environment Agriculture (CEA), industrial, healthcare, and other commercial industries, focusing on delivering client visions with innovation and collaboration.

The announcement also included a safe harbor statement outlining 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 impact actual results, such as integration of acquisitions, 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 statement from urban-gro, Inc. and does not include any promotional content or subjective assessment. The company’s forward-looking statements are subject to various risks and uncertainties that may cause actual outcomes to differ from those projected.

In other recent news, urban-gro Inc. has secured a project to build a new P.F. Chang’s restaurant location in Westminster, Colorado, marking a significant development in the hospitality industry. This project is expected to commence in the third quarter of 2024, with the majority of the revenue anticipated to be recognized within the next six months. In addition, urban-gro has inked contracts valued at approximately $12 million in the cannabis sector, providing engineering, architecture, design, equipment procurement, and construction management services for various cultivation and retail dispensary projects. The company expects to recognize most of the revenue from these deals by the end of the third quarter of 2024.

urban-gro has also expanded its stock 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 robust 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 over $84 million. These are among 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 financial health and market performance of the company. According to InvestingPro data, urban-gro has a market capitalization of approximately $16.38 million, reflecting its size within the industry. Notably, the company’s revenue over the last 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 the InvestingPro Tips points out 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 mirrored in the price total return metrics. Over the last six months, the stock has seen a substantial decrease in value, with a negative return of -38.43%, although there has been a slight uptick of 4.72% in the last three months. It’s also worth noting that urban-gro does not pay a dividend to shareholders, which could influence investment decisions for those seeking regular income streams from their investments.

For investors seeking a deeper dive into urban-gro’s financials and market performance, additional InvestingPro Tips are available on the platform. These tips offer insights into aspects such as cash burn rate, debt levels, and profitability forecasts. Currently, there are 10 additional tips listed on InvestingPro for urban-gro, which can be found at https://www.investing.com/pro/UGRO.

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