Urban-gro Secures $12M in New Cannabis Sector Contracts for Q2

urban-gro, Inc. (NASDAQ: UGRO), a firm specializing in professional services and Design-Build solutions for Controlled Environment Agriculture (CEA) and commercial sectors, has announced several new contracts in the cannabis industry. These contracts, with over a dozen clients, are expected to generate approximately $12 million in revenue. The scope includes engineering, architecture, and design services, as well as equipment procurement and construction management for cultivation and retail dispensary projects. Most of this revenue is anticipated to be recognized by the end of Q3 2024.

Bradley Nattrass, Chairman and CEO, expressed optimism about the cannabis sector's momentum, partially driven by potential regulatory changes and the upcoming vote on adult-use cannabis in Florida. He noted that urban-gro's diversified strategy and industry experience position the company well to meet increasing demand for their cannabis solutions.