As of Monday’s premarket, shares of urban-gro Inc. (UGRO) were down -5.36% at $ 11.00. The UGRO stock finalized last trading session -1.11% lower at $11.62. UGO stock traded for 0.41 million shares, which is above the 0.18 million share average for the past 50 days. Since the beginning of the month, shares of UGRO have gained 35.91%; however, they have risen by 11.73% in the last five days. In the last three months, the price of UGR stock increased by 54.73% and this year has already gained 93.67 percent. The UGRO stock is declining in pre-trades today after reporting quarterly results last week.

What was the performance of UGRO Stock last quarter?

urban- -gro specializes in the design, engineering, and installation of Controlled Environment Agriculture (“CEA”) facilities for industrial and commercial cannabis cultivation. With over 100 years of experience designing and integrating complex environmental systems for CEA facilities, UGRO engineers, designs and builds high-performance environments. With UGRO’s gro-care Managed Services Platform, facilities will have reduced downtime, continuity, and will have their facility performance optimized. With UGRO as a provider of crop-agnostic solutions across the food and cannabis CEA sectors, the company offers a single point of accountability for growing operations across all aspects.

In its last financial report, urban-gro reported record revenues and profits. For the second quarter ended June 30, 2021, UGRO recorded its 4th consecutive positive adjusted EBITDA quarter, with its first overall positive net income, and significant growth in project backlog.

Highlights of financial performance:

• A net income of $1.3 million, or $0.11 per share, was generated in UGRO’s second quarter 2021.
• Net loss in Q1 2021 was ($1.6) million, or ($0.20) per share, and in Q2 2020 it was ($1.6) million, or ($0.33) per share.
• Revenues, gross profits, and debt forgiveness led to a $2.9 million year-over-year improvement.
• The revenue generated by Ugro in Q2 2021 was $12.8 million, compared to $12.0 million in Q1 2021 and $4.0 million in Q2 2020, an increase of $8.8 million or 220% year over year.
• UGRO also achieved an Adjusted EBITDA record of $0.6 million in Q2 2021, up from $0.5 million in Q1 2021 and a negative ($0.3) million in Q2 2020.
• UGRO also had a record income from operations in Q2 2021, compared with a negative ($0.9) million in Q2 2020.

Developments in other areas:

According to Urban Gro (UGRO), the company’s backlog (ordered equipment with deposits received) was $ 27.9 million on June 30, 2021, compared with $ 15.2 million at the end of Q1 2021 and $ 14.6 million at the end of 2020. Additionally, UGRO completed the acquisition of MJ12 Design Studio, creating the first integrated architectural, engineering, and cultivation systems company for the industry.