On Wednesday, Urban-gro, Inc. (NASDAQ: UGRO) reported first-quarter results and reaffirms full-year 2023 guidance.
CEO Bradley Nattrass highlighted the company's focus on creating a durable and diversified organization.
“Our first quarter performance is consistent with our expectations as we continue to demonstrate that the acquisitions and investments we made have created a more durable and uniquely diversified company. We continue to see demand for our solutions in all sectors," Nattrass said.
First Quarter 2023 Financial Results
- First-quarter revenue was $16.8 million, down from $21.1 million in the previous year. However, the company offset some of the decreases with $10.2 million in revenue growth from construction design-build services related to an acquisition.
- Gross profit was $2.8 million, or 17% of revenue as …