urban-gro Full Year 2023 Earnings: Misses Expectations

Urban-gro Inc Ordinary Shares +2.24% Pre

Urban-gro Inc Ordinary Shares

UGRO

1.37

1.37

+2.24%

0.00% Pre

urban-gro (NASDAQ:UGRO) Full Year 2023 Results

Key Financial Results

  • Revenue: US$71.5m (up 6.7% from FY 2022).
  • Net loss: US$18.7m (loss widened by 22% from FY 2022).
  • US$1.66 loss per share (further deteriorated from US$1.44 loss in FY 2022).
earnings-and-revenue-growth
NasdaqCM:UGRO Earnings and Revenue Growth March 30th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

urban-gro Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 17%.

Looking ahead, revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Machinery industry in the US.

Performance of the American Machinery industry.

The company's shares are down 37% from a week ago.

Risk Analysis

It is worth noting though that we have found 5 warning signs for urban-gro (2 are a bit concerning!) that you need to take into consideration.

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