UGRO

MKT CAP:$4M

urban-gro, Inc.

Market Cap

$4M

Industrials·Agricultural - Machinery·🇺🇸 United States·NASDAQ

Industrials·Agricultural·🇺🇸·NASDAQ

Stock Price

$8.39+$1.29 (+18.15%)

Apr 24, 2026

Company Details

urban-gro, Inc. engages in the designing, engineering, building, and integrating complex environmental equipment systems for indoor controlled environment agriculture (CEA) cultivation and retail facilities in the United States, Canada, and...

CEO

Bradley John Nattrass

IPO Date

Nov 14, 2019

Website

www.urban-gro.com

Key Metrics TTM

Revenue

$45M

-26.4% YoY

Net Income

-$17M

EPS (Diluted)

-$31.89

Free Cash Flow

$1M

Revenue / Share

$77.34

Gross Margin

9.2%

Operating Margin

-36.0%

Net Margin

-37.6%

FCF Margin

2.3%

P/S

0.1x

P/E

—

Earnings Reports

Q3 2025

Apr 29, 2026

PENDING

Q2 2025

Feb 10, 2026

$8M-56.7%EPS -$10.64

Q1 2025

Feb 3, 2026

$10MEPS -$7.75

FY 2024

Jan 16, 2026

$40M-44.1%EPS -$65.50

Q3 2024

Feb 18, 2025

$10MEPS -$7.50

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 20	$8M	$2M	-$148.5K
Q4 20	$9M	$2M	-$255.6K
Q1 21	$12M	$3M	$152.8K
Q2 21	$13M	$3M	$222.0K
Q3 21	$18M	$4M	$66.7K
Q4 21	$19M	$5M	-$646.2K
Q1 22	$21M	$5M	-$867.8K
Q2 22	$16M	$4M	-$2M
Q3 22	$12M	$3M	-$7M
Q4 22	$17M	$3M	-$3M
Q1 23	$17M	$3M	-$5M
Q4 23	$15M	$2M	-$5M
Q2 24	$18M	$2M	-$3M
Q3 24	$10M	$1M	-$4M
Q1 25	$10M	$442.3K	-$4M
Q2 25	$8M	$44.7K	-$6M

Valuation

Quarter	P/S	P/E
Q3 20	0.1x	—
Q4 20	0.2x	—
Q1 21	1.9x	—
Q2 21	2.6x	—
Q3 21	3.1x	—
Q4 21	1.8x	—
Q1 22	1.7x	7168.4x
Q2 22	0.8x	—
Q3 22	0.4x	—
Q4 22	0.5x	—
Q1 23	0.5x	—
Q4 23	0.3x	—
Q2 24	0.2x	—
Q3 24	0.3x	—
Q1 25	0.1x	—
Q2 25	0.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	$134.3K	$96.8K
Q4 20	-$604.6K	-$657.8K
Q1 21	$298.5K	$298.5K
Q2 21	$998.5K	$988.8K
Q3 21	-$972.1K	-$1M
Q4 21	-$2M	-$2M
Q1 22	-$4M	-$4M
Q2 22	-$1M	-$2M
Q3 22	-$4M	-$4M
Q4 22	-$4M	-$4M
Q1 23	-$4M	-$4M
Q4 23	-$5M	-$5M
Q2 24	-$2M	-$2M
Q3 24	$984.6K	$933.1K
Q1 25	$2M	$2M
Q2 25	$413.9K	$364.6K

Capital Expenditures

Quarter	CapEx
Q3 20	$37.5K
Q4 20	$53.1K
Q1 21	$0
Q2 21	$9.7K
Q3 21	$179.9K
Q4 21	$102.9K
Q1 22	$32.3K
Q2 22	$342.3K
Q3 22	$121.7K
Q4 22	$327.4K
Q1 23	$133.8K
Q4 23	$158.7K
Q2 24	$0
Q3 24	$51.6K
Q1 25	$63.8K
Q2 25	$49.4K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 20	+49.7%	+22.0%
Q4 20	+29.1%	+5.9%
Q1 21	+182.4%	+109.3%
Q2 21	+220.4%	+155.7%
Q3 21	+118.8%	+114.2%
Q4 21	+105.8%	+107.1%
Q1 22	+74.9%	+84.5%
Q2 22	+26.9%	+44.4%
Q3 22	-32.4%	+5.8%
Q4 22	-8.6%	+3.4%
Q1 23	-21.0%	-1.1%
Q4 23	-7.8%	+7.9%
Q2 24	+45.1%	+7.0%
Q3 24	-42.9%	-33.9%
Q1 25	-42.8%	-37.3%
Q2 25	-48.2%	-30.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$399.3K	4.8%
Q4 20	$411.6K	4.5%
Q1 21	$290.8K	2.4%
Q2 21	$299.6K	2.3%
Q3 21	$506.0K	2.8%
Q4 21	$744.5K	3.9%
Q1 22	$882.0K	4.2%
Q2 22	$882.0K	5.4%
Q3 22	$96.8K	0.8%
Q4 22	$711.0K	4.1%
Q1 23	$479.6K	2.9%
Q4 23	$374.2K	2.5%
Q2 24	$460.8K	2.6%
Q3 24	$343.9K	3.5%
Q1 25	$0	0.0%
Q2 25	$534.5K	6.9%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 20	—	$2M	$42.7K	—
Q4 20	—	$2M	$77.7K	—
Q1 21	—	$2M	—	—
Q2 21	—	$3M	—	—
Q3 21	—	$4M	—	—
Q4 21	—	$6M	—	—
Q1 22	—	$6M	—	—
Q2 22	—	$5M	—	—
Q3 22	$3M	$6M	—	—
Q4 22	—	$6M	—	—
Q1 23	—	$8M	—	—
Q4 23	—	$6M	$374.2K	—
Q2 24	—	$5M	—	—
Q3 24	—	$4M	—	—
Q1 25	—	—	—	$5M
Q2 25	—	$6M	—	—

Revenue Segments

Quarter	Product Sales	Services	Consumable Products	Equipment Systems	Service
Q3 20	$8M	$448.9K	—	—	—
Q1 21	—	$260.5K	$429.1K	$11M	—
Q2 21	—	$288.4K	$363.6K	$12M	—
Q3 21	—	$1M	$372.4K	$16M	—
Q1 22	—	—	$347.0K	$17M	$4M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$35M	$0	$35M
Q1 22	$27M	$0	$27M
Q2 22	$23M	$0	$23M
Q3 22	$19M	$0	$19M
Q4 22	$12M	$0	$12M
Q1 23	$7M	$0	$7M
Q2 23	$9M	$0	$9M
Q3 23	$5M	$0	$5M
Q4 23	$1M	$0	$1M
Q1 24	$692.7K	$0	$692.7K
Q2 24	$384.8K	$0	$384.8K
Q3 24	$1M	$0	$1M
Q4 24	$819.0K	$0	$819.0K
Q1 25	$697.0K	$0	$697.0K
Q2 25	$721.2K	$0	$721.2K
Q3 25	$62.9K	$0	$62.9K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 20	193K	+0.5%	+10.4%
Q4 20	189K	-2.0%	-0.4%
Q1 21	313K	+66.0%	+65.2%
Q2 21	469K	+49.7%	+144.7%
Q3 21	488K	+4.1%	+153.5%
Q4 21	488K	0.0%	+158.6%
Q1 22	420K	-13.9%	+34.2%
Q2 22	438K	+4.2%	-6.6%
Q3 22	427K	-2.5%	-12.5%
Q4 22	429K	+0.4%	-12.2%
Q1 23	431K	+0.6%	+2.5%
Q4 23	467K	+8.4%	+6.7%
Q2 24	497K	+6.4%	+16.4%
Q3 24	497K	0.0%	+16.0%
Q1 25	519K	+4.4%	+20.3%
Q2 25	583K	+12.5%	+24.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 20	$643.0K	13
Q4 20	$196.0K	47
Q1 21	$256.1K	47
Q2 21	$273.0K	47
Q3 21	$389.1K	47
Q4 21	$195.5K	97
Q1 22	$217.0K	97
Q2 22	$167.9K	97
Q3 22	$127.5K	97
Q4 22	$114.0K	152
Q1 23	$109.4K	152
Q4 23	$115.4K	130
Q2 24	$138.0K	130
Q3 24	$76.1K	130
Q1 25	$73.2K	130
Q2 25	$59.7K	130

Revenue / Employee