Urban-Gro reports Q3 EPS (20c), consensus (26c)

Reports Q revenue $ $20.93M, consensus $21.95M. Bradley Nattrass, Chairman and CEO, commented, “Since launching our sector diversification initiative just over a year ago, urban-gro has successfully evolved into a multi-sector focused professional services consulting firm. Our strengthening revenue and Adjusted EBITDA1 performance in the third quarter reflects a solid improvement on both a sequential and year-over-year basis. Given our strengthening pipeline and backlog, we continue to anticipate sequential quarterly improvement as we work to recapture positive Adjusted EBITDA1 generation. This has been the result of our steps to insulate our business from Cannabis market headwinds by diversifying our revenue streams into additional sectors outside of Controlled Environment Agriculture (“CEA”) while being proactive with expense optimization and resource allocation to drive efficiencies and scale in our model.”