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LAFAYETTE, COLORADO - urban-gro, Inc. (NASDAQ:UGRO), a company specializing in integrated professional services and design-build solutions, has announced a contract to construct a new Fogo de Chão restaurant in Tigard, Oregon. The firm, currently valued at $5.2 million in market capitalization and trading near its 52-week low of $0.37, will manage the project from preconstruction through delivery, with work commencing immediately and the majority of the revenue expected by the third quarter of 2025.According to InvestingPro analysis, urban-gro faces significant financial challenges, with 16+ key insights available to subscribers regarding the company’s performance and outlook.
This project adds to urban-gro’s portfolio of collaborations with the Brazilian steakhouse chain, which includes locations in Texas, Colorado, Utah, and Nevada. "We are pleased to be selected as the contractor for the new Tigard location and to further strengthen our valued partnership with Fogo de Chão," stated Bradley Nattrass, Chairman and CEO of urban-gro. The company’s revenue has declined by 16.8% over the last twelve months, with current revenue standing at $60 million.
urban-gro is recognized for providing architectural, engineering, and construction management solutions across various sectors, including Controlled Environment Agriculture (CEA), industrial, healthcare, and commercial. The company operates throughout North America and Europe, emphasizing innovation, collaboration, and customer service. Financial metrics from InvestingPro indicate the company faces challenges with a current ratio of 0.74 and significant debt obligations, suggesting potential liquidity concerns.
Fogo de Chão is known for its churrasco dining experience, where high-quality meats are roasted over an open flame and carved tableside. The restaurant also features a Market Table with seasonal salads, charcuterie, and other offerings, catering to a range of dining occasions.
The press release includes forward-looking statements regarding urban-gro’s performance and future events. These statements are based on current expectations and forecasts, subject to risks and uncertainties that could impact actual outcomes. With analysts forecasting continued challenges, investors can access comprehensive analysis and detailed financial metrics through InvestingPro’s exclusive research reports, available for over 1,400 US stocks. The full press release is available on ACCESS Newswire.
This news article is based on a press release statement from urban-gro, Inc.
In other recent news, urban-gro, Inc. has announced several significant developments across various sectors. The company has secured a $6 million contract to supply LED lighting equipment to a North American cannabis operator, with revenue expected in the first half of 2025. Additionally, urban-gro signed a $4 million deal to design a hospital in the southeastern U.S., with the majority of revenue anticipated within the current year. The firm is also undertaking a $1.2 million project to enhance school safety for the Muscogee County School District in Georgia, with revenue recognition expected over the next three quarters of 2025.
Further expanding its portfolio, urban-gro has secured contracts with the Brazilian restaurant chain Fogo de Chão for projects in Utah, Nevada, and California, expecting most revenue recognition by the third quarter of 2025. In financial developments, urban-gro has amended its loan agreement with Gemini Finance Corp., extending the loan period to January 1, 2026, and adjusting the interest rate to 1.75% per month. As part of this amendment, the company issued 150,000 shares to Gemini Finance Corp. These announcements reflect urban-gro’s strategic growth and diversification efforts across multiple industries.
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