- urban-gro, Inc. (NASDAQ:UGRO) signed more than $40 million in contracts in 1Q23, bringing the total backlog to $123 million as of Mar. 31, 2023. Total backlog was approximately $93 million in contracts as of Dec. 31, 2022.
- The company received $2.4 million of cash during the quarter following a settlement with its former bank.
- UGRO reiterated its guidance; it expects 1Q23 revenue to be slightly below 4Q22 with an increased adjusted EBITDA loss due to the delayed kick-off of two design-build projects.
- For FY23, the company expects consolidated revenue of $100 million – $120 million versus $105.01 million consensus and Adjusted EBITDA of negative $3 million to slightly positive.
- “With the incremental cash from the settlement, combined with the growth in the business we are forecasting through the balance of 2023, we believe we have adequate non-dilutive financial resources available to navigate the current environment,” commented Bradley Nattrass, Chairman and CEO of urban-gro.
- Price Action: UGRO shares are trading higher by 14.2% at $1.9650 on the last check Wednesday.
‘HSBC Said To Explore Sale Of Some German Units In Streamlining’ – Bloomberg News
https://www.bnnbloomberg.ca/hsbc-said-to-explore-sale-of-some-german-units-in-streamlining-1.2054218#:~:text=The%20disposals%20would%20add%20to,and%20countries%20in%20recent%20years.&text=(Bloomberg)%20%2D%2D%20HSBC%
