urban-gro, Inc.

Listed Company

UGROCIK 0001706524NasdaqNon-AcceleratedSmaller ReportingWholesale-Machinery, Equipment & SuppliesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$17.40M

Net Income

$-22.10M

Total Assets

$331.9K

Equity

$-45.17M

Shares Out

1.13M

Op. Cash Flow

$840.8K

Business

urban-gro, Inc. is an integrated professional services and construction design-build firm that delivers turnkey facility solutions primarily for controlled environment agriculture (CEA) and related commercial clients. It offers architectural, interior and MEP engineering, integrated cultivation design (ICD), pre-construction, construction and construction-management, facility commissioning, ongoing maintenance, training and its gro-care® asset protection and operating support services, plus value‑added reselling of cultivation equipment. Its core business is organized into service solutions and integrated equipment systems/VAR offerings. urban-gro operates across North America and Europe, serving cannabis and produce cultivators, food and beverage CPG, healthcare, education, hospitality and other commercial customers through direct contracts and strategic vendor relationships.

Summary from filing dated 2024-03-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	17	31	70	—	—
Total cost of revenue	17	32	60	—	—
Gross profit (loss)	174,554	−388,731	10	14	15
General and administrative	17	21	25	20	13
Depreciation and amortization	349,364	1	—	—	—
Impairment of goodwill and intangibles	—	6	—	—	—
Impairment of property and equipment	566,609	—	—	—	—
Total operating expenses	18	28	33	27	15
Loss from operations	−18	−28	−23	−13	−204,744
Interest expense	−2	−1	−271,686	−54,579	−334,056
Interest income	526	2,420	173,895	329,012	23,566
Gain on extinguishment of debt	7,476	—	—	0	−790,723
Loss on settlement	−62,850	−205,000	−2	0	—
Loss on assets foreclosure	−2	—	—	—	—
Other income (expense)	522,193	256,811	−41,463	−139,611	34,049
Total non-operating income (expense)	−4	−967,716	−2	−3	−670,923
Loss before income taxes	−22	−29	−25	−16	−875,667
Income tax benefit	14,608	29,705	−94,000	322,092	0
Net loss from continuing operations	−22	−29	—	—	—
Net income loss from discontinued operations, net of tax	−419,695	−7	—	—	—
Net loss	−22	−36	−25	−15	−875,667
Net loss from continuing operations (in Dollars per share)	−41.04	−58.83	—	—	—
Net loss from discontinued operations, net of taxes (in Dollars per share)	−0.79	−14.3	—	—	—
Net loss per share (in Dollars per share)	−41.83	−73.12	−2.34	−1.44	−0.09
Weighted average common shares outstanding - basic (in Shares)	528,270	499,089	11	11	10
Weighted average common shares outstanding - Diluted (in Shares)	528,270	499,089	11	11	10

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	10,644	819,050	1	12	35
Accounts receivable, net	—	6	22	15	13
Contract receivables	—	4	8	3	0
Prepaid expenses and other current assets	—	2	2	4	11
Current assets of discontinued operations	—	2	—	—	—
Total current assets	10,644	16	33	35	59
Property and equipment, net	—	813,452	1	1	207,496
Operating lease right-of-use assets	321,303	550,175	2	3	689,704
Non-current assets of discontinued operations	—	2	—	—	—
Total non-current assets	321,303	4	17	28	15
Total assets	331,947	19	50	62	74
Accounts payable	18	14	24	10	6
Contract liabilities	13	14	4	3	13
Accrued expenses	6	4	5	3	4
Customer deposits	3	3	603,046	—	—
Notes payable, current	4	6	3	4	0
Operating lease liabilities, current	222,870	235,223	707,141	600,816	152,459
Current liabilities of discontinued operations	2	2	—	—	—
Total current liabilities	45	42	38	24	25
Notes payable, long-term	—	795,531	—	—	—
Deferred tax liability	—	14,608	44,313	1	440,625
Operating lease liabilities, long-term	115,080	336,255	1	2	542,003
Non-current liabilities of discontinued operations	—	690,444	—	—	—
Total non-current liabilities	115,080	2	1	3	982,628
Total liabilities	45	44	39	27	26
Commitments and contingencies	—	—	—	—	—
Preferred stock, $0.10 par value; 3,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2025 and 2024	—	—	—	0	0
Common stock, $0.001 par value 200,000,000 shares authorized; 710,025 issued and 652,032 outstanding as of December 31, 2025, and 562,855 issued and 504,862 outstanding as of December 31, 2024	711	563	13,523	12,221	11,588
Additional paid-in capital	92	90	89	85	79
Treasury shares, cost basis: 57,993 shares as of December 31, 2025 and 2024	−12	−12	−12	−12	−8
Accumulated deficit	−125	−103	−66	−38	−23
Total stockholders deficit	−45	−25	10	31	48
Total liabilities and stockholders deficit	331,947	19	50	62	74

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	349,364	1	—	—	—
Stock-based compensation expense	826,471	1	2	3	2
Amortization of the right-of-use	228,585	229,754	460,347	—	—
Amortization of debt discount	155,958	65,958	—	—	—
Bad debt expense	1	—	—	—	—
Prepaid expenses and other current assets write off	1	—	—	—	—
Contract receivables write off	4	—	—	—	75,137
Inventory write-off	172,920	—	—	—	−23,131
Non-cash interest expense	529,213	—	—	—	—
Deferred income tax benefit	−14,608	−29,705	−215,864	−322,092	0
Loss on assets foreclosure	2	—	—	—	—
Loss on disposal of assets	—	3,274	—	—	—
Accounts receivable and contract receivables	5	16	−12	−3	—
Inventories	49,663	—	—	190,219	45,479
Prepaid expenses and other assets	1	49,550	—	8	−8
Accounts payable, contract liabilities, and accrued expenses	6	−379,723	—	1	6
Customer deposits	66,972	2	13	−11	8
Operating lease liability, net	−233,528	−237,578	−436,320	−413,770	0
Net cash provided by (used in) operating activities of continuing operations	1	−3	—	—	—
Net cash (used in) provided by operating activities of discontinued operations	−540,170	648,924	—	—	—
Net cash provided by (used in) operating activities	840,796	−3	−11	−13	−2
Proceeds from the sale of property and equipment	—	25	2	—	—
Purchase of property and equipment	−298,215	−131,387	−540,494	−580,347	−292,428
Net cash used in investing activities of continuing operations	−298,215	−131,362	—	—	—
Net cash provided by investing activities of discontinued operations	2	—	—	—	—
Net cash provided by (used in) in investing activities	2	−131,362	2	−4	−8
Proceeds from promissory notes	2	8	3	0	—
Repayments of notes payable	−5	−5	−4	0	—
Repayment of finance lease liability	−27,437	−108,775	—	—	—
Net cash (used in) provided by financing activities of continuing operations	−3	3	—	—	—
Net cash used in financing activities of discontinued operations	−11,760	−31,810	—	—	—
Net cash (used in) provided by financing activities	−3	3	−2	−6	44
Net change in cash	−808,406	−255,792	−11	−23	34
Cash paid for interest	454,624	735,379	142,388	28,147	230,424
Cash paid for income taxes	4,611	20,846	185,910	16,253	0
Common stock issued for services and debt modification	749,869	—	—	—	—
Stock issued for contingent consideration	—	129,136	2	4	2
Stock grant program vesting	—	477	333	—	—
Warrants issued in connection with notes payable	—	211,916	—	—	—
Prepaid expenses financed by notes payable	—	807,190	648,000	—	—
Recording of Operating lease assets and liabilities	—	221,880	—	—	—
Recording of Financing lease assets and liabilities	—	89,128	23,664	—	—
Debt discount on notes payable	—	100,000	—	—	—

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