Earnings call transcript Q4 2022

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Operator

Hello, and welcome to the urban-gro 2022 Fourth Quarter Earnings Conference Call.

As a brief reminder, all participants are currently in a listen-only mode. [Operator Instructions] Following the presentation, there will be a question-and-answer session for those on the teleconference line. Please note that this conference call is being recorded, and a replay will be made available on the company's website following the end of the call.

At this time, I'd like to turn the conference call over to Dan Droller, Executive Vice President of Corporate Development and Investor Relations at urban-gro. ahead. go please Sir,

Dan Droller

our to our with thank non-GAAP GAAP substitute a by joining urban-gro's Chief results GAAP. for Brad Akright, those EBITDA backlog. Reconciliations the accessed will should accordance available Securities I'd and release and made of filed can loss items be that our will utilized this as website. These including during from Executive Today's adjusted and the Investor be Dick are call net like Officer. prepared Financial led financial Nattrass, Exchange adjusted discussion Chief our Form to press in you section Commission, Relations afternoon, with listeners us. remarks our be and of for include call in Officer; remind metrics, and Good not XX-K Chairman in and and of EBITDA

management's These that expectations we call, beliefs, or intentions, this risks projections. future involve may On statements forward-looking and state are uncertainties.

this on pursuant laws harbor of on call made statements results differ Forward-looking safe materially. urban-gro's securities are based could the and expectations. to provisions Actual federal the current are

you As any statements. undue not reliance should forward-looking on place a result,

website could available these in that reports the documents Investors carefully. statements are factors on results the We of materially with review Securities actual and the company's do from the Commission's these filed you urban-gro website. of to Some discussed in differ Commission. encourage Exchange contemplated documents These to forward-looking such and periodic by cause are the Securities Exchange the and section

of website call may a and press at Investor today's ir.urban-grow.com. copy be Relations for Lastly, the earnings a of replay release our found our on section webcast

Brad. the I'll call over With turn now to that,

Brad Nattrass

and of detail, in reviewing afternoon, call followed everyone, conditions open business, and today's welcome. execution, our This on financial the Thank including state the call results questions. will greater by our you, for we'll results, by begin focus market a Dick providing vision. our be your an update on Dan. I'll then Good and

a urban-gro, well on adjusted for our XXXX on signals was of we by a quarter expectations, successful positive levels that more performance back our revenue getting evolution remain laser-focused punctuated to returning also fourth EBITDA. way to to aligned with but year were

our encountered in on business and advanced the our headwinds capabilities Despite both cannabis and our operate. sector, the which by in our team diversification executing geographies forward service expanding strategy we sector

both Emerald year, strengthen team did only of we we and business, Not also new global experienced with leadership organically build design appointed capabilities engineering. our acquisitions, the acquisition to in DVO the we During our CEA solutions, further through Construction in office and opened Netherlands. these Colorado-based new added the expertise our and first Management and Texas-based COO a we

contract our of solutions progress past this million into value-added at signed speaks end business XXXX. model, of that continue of integrated our end and representing that talented three in and experts, sector company. the XXXX, a encompasses evident of possible backlog us growth, $XX increase the professional to alone procurement unique at diversification, our the in construction which record we and XX% and the sequential year reported we've growth this is of by successful fully we quarterly backlog times of to This that diversification than transforming this turbulent engineering, made incredible nearly a more a the that environment. altogether, company integrated can a was And deliver differentiating underwent All this in made team as

have future a all our that us that company's we the market on sign of three even this large ahead we more bright a sectors put within To urban-gro, emphasis record backlog times as needs serve. over what for it's capitalization, as of

our clients design notice accountability out an extremely strongly of that single XX% quickly remain to applicable all of be commercial on capabilities build our others that to suggest provide seeking is of business and of provider. proving are differentiation. our us in efficiently reported as our taking mode valuable and industry we terms of made which and up and both and this in their point solutions is as clients, the of CEA CEA up nearly preferred growth scaling and are of point unmatched focused We're The within today, to construction We we trusted as possible. indoor backlog

our and touching XXXX. fourth posted for quarter We revenues the on of $XX.X the million results. year Briefly $XX full million for

guidance, comprehensive quarter cannabis business by in reflect CapEx don't that potential we which model, full revenue spending. these still results exceeded accurately truly growth pleased the pullback the equipment our I'm is obscured While our fourth of being

increased force achieve this revenue ability the driving company In revenue to amid our this both the by made $XX.X with synergies million, professional behind numbers. quarter, by our acquisition. with and performance driven position construction The lies fourth is increased [ph] in we're diversified year-over-year, the solutions by business to last revenue success provider, strategic million design a years the our by softener being of over X as creating $X.X represented the build the services increases and decisions

a of by unfortunately While cultivation in to impact diversification our million the have on offset decrease year, focus a was near began this $XX.X end revenue. year-over-year material equipment the growth

our the team backlog bring was quarter with represents of the our in and we capabilities to line million, for investment our that negative This in to the scaling European EBITDA region. that continued both XXXX negative and strong now in in our fourth market of approximately guidance million. further $X.XX operations our entering generally service Adjusted the $X.X

year adjusted negative $X.X EBITDA was million. the full XXXX For

cash third to to of $X.X EBITDA associated in the used to and and head business our attributed DVO a reported decrease position, in the into million and ensuring in balance with cash cash and of we quarter payments remain onetime Engineering. strong pertains agile sheet in $XX we million with loss no it The that adjusted expense quarter, debt. As is primarily acquire the development the approximately XXXX bank cash

Moving outlook shift sector recent seeing on I'll updating now on, our XXXX. we're and current for that acquisition, to most trends our

the close to This DVO the professional as and build cross-selling is And integration as demand services strong, our and XXXX capabilities contracts. acquisition, providing and anticipated, end-to-end Engineering engineering our continues of design proceeding November services by full existing for remains The opportunities turnkey our increased accretive rapidly revenues solution the clients further our Following has backlog. synergistic margins. nicely. to professional increase transaction is and evidenced of

trends. [ph] agreements with In but bring signing a that continued and in well, our are are sector, some growing we single opportunities master services not by fact, and project signing repeat qualified to to of continues we commercial to sector gap we're bridge short-term will a company which or week long-term pipeline strong, in the as only projects the in the current project Moving future. softness by cannabis sector instances, non-CEA led contracts the The the have clients,

Supporting in strategy with design-build all fourth the with across clients' signed the quarter, aspects $XX strong of our strength over million we our of go-to-market all contracts, projects, clients. point new of financially a single accountability of

work, focused with demand continue to tied sector, a engineering challenges for In services mostly do of clients. in contracts signed increasing cannabis-focused clients, we continue our while the variety to produce see CEA

that transparent cannabis sector of are of have cannabis. urban-gro, the There the address. legalization very weakness key impact approved approximately is For the states to X

has the regulatory licenses of the been tied However, up delays. with award

by busy to absolutely award until states contracts. an and documents have license we sign the is official complete, in architecture these deeper, But pausing projects remain the engineering, signed are Diving there the design and and after continue are essentially state.

urban-gro to move their accurate clients diligently move When vision assumption after. to are the began build clients' of a off eventually in licenses them working Jersey. first we're contract. of a year, million be contracts to and operational our quarter by Notably, forward licenses to to clients in sign have of design build kicked life forward. bring we design in New and The and first state year-end. equipment do X the this project subsequently X expect months has secured $XX When key awarded, our were large our contracts awarded, model and proven clients This later and proportion and the December, moving forward

until matter capital And to are a expect clients' expenditures simply not we [ph] it's delays our when. worked So out, if soft. a matter it's remain of regulatory these of

on also for retail outside And in of presence. important their to dispensaries. the to of dispensaries full successful offering demand, proven This engaged to response cultivation, being we've it's country, than X that in work more said, design to dozen note a the across retail expand months to fourth our also in build continue some were has expanded client our contracts. clients which include This the we quarter, been last as

clients sector focused the the Finally, European excited forward regarding prices, while to by higher drastically market, remain impact due result. been demand and contracts produce our of the a investment energy in momentum CEA suppressed into as the cannabis signed we've the from design ongoing

Further country. in the exciting in with market supply cannabis legalization growing requirements the and most and Germany pending is use market adult the development with to

are and from entity, term. confidence this positioning we're sustainable me still business for consistent flow European we're great making quarters progress a long urban-gro the few our Although cash the growth positive generating gives over global in that in investments the

and provide outlook I'll associated Now our year cadence. full

negative EBITDA $XXX the revenues to within million expect within a we range XXXX, range to million. slightly of of consolidated be $X million full positive. to to year we anticipate adjusted $XXX a be For And

work potentially Our to today's to is value it's to project needs They could the the note contracts. impact important bringing they're timing. us. But industry to meet want economic their environment that clients with uncertain signing recognize urban-gro and

weakness resume of the sector, As the spending positive we will later the XXXX. it sector in specifically half anticipate second relates in to CapEx cannabis in expansion

is achieving backlog. in our the balanced will is continue of our remain adjusted expect the near-term that emphasize expanding we'll invest to our shareholders. reward and business that evidenced our against priority, positive balance to by this growth our like continue stewards also needs of but our EBITDA ways sheet, business, to supporting corporate good in we I'd We primary

and year. modeling, for also color providing additional To our expectations some we're help the on cadence inform your near-term the

XXXX, quarter to that first March. the build slightly to key expect the due of kickoff revenue of two of design began in in XXXX projects of quarter ultimately come the dollars below that fourth For we delayed

XXXX. at through expect order be the deliver year the of quarter growth both guidance backlog, and sequential revenue of That quarter beginning in first we By strength quarter that and adjusted quarterly below introducing we're XXXX, to said, the also in timing meet year EBITDA we to quarterly we our virtue full second the balance of that adjusted of fourth for today. as our terms the and cadence in lower EBITDA the look of revenue, this to expect

operations our we service are focused our to integrate as reflected closing, continuing In to million is look demand scale we XXXX, $XX to in broadly record backlog. more the increased on and that

We professional although strong continue increase sector sectors. cannabis to see sales and early, momentum in in a recovery do service solutions well. a our we And build the design corresponding as equipment this anticipate and year our later all in across

we're than targeted company possible. been. to soon stronger, durable on the we've driving in to in the EBITDA as diverse remain diverse a our we to all returning as adjusted business, base model, services more continue committed positive our our and centered ever to efficiencies optimizing Today, investments professional we make more client And and leveraging

Thank you. to now call I'll turn over the And that, with Dick.

Richard Akright

decrease decrease support $XX.X in was Brad. million, of demand lack the in reflecting the in compared was delays U.S. million because equipment as fourth significantly in driven to state-level movement process, of quarter license the This of a such of ongoing $XX Thanks, of the cannabis XXXX year financial SAFE well prior systems models revenue as regulatory by $XX.X primarily Revenue key market equipment period. Banking in awarding Act. the industry as reduced million the

of April with in was as as DVO of Emerald $X.X professional construction the million the in 'XX $XX.X well XXXX. an of million in design decrease partially offset with This acquisition services build acquisition associated revenue, incremental accretive increase Management in by November of Construction revenue

decrease XXXX design of year $X.X period. was revenue a of by profit or revenue the from margin million, quarter prior margin to decrease the profit acquisition. was gross Emerald the This driven in decrease or million Gross lower The to the correlating in in XX% $X.X build compared represents of of revenue $X.X revenue. XX% the construction in million fourth

and growth. representing in headcount million in increase XXXX compared $X.X acquisitions million of were fourth $X.X operating was an the increased the expenses quarter of $X.X future million. XXXX year Operating expenses period, our of related to in and in of in support to the Emerald driven increase prior DVO by The

Non-operating the related $X.X litigation in contingent expenses in guaranteeing settlement of of an were million million receivable and with from associated recognized expenses fully acquisition. impairment million of to XWR the and XXXX $X.X a included loss remaining quarter fourth consideration the $X

compared a quarter negative loss the in quarter prior $X.XX million XXXX of investments period. in drive of negative diluted compared as to lower to decrease million the or net Net profit to in and XXXX in gross fourth was year $X.X the negative million in the per per $X.X was EBITDA prior well fourth year The EBITDA $X.X as growth. positive or period. adjusted share Adjusted expenses loss strategic driven by revenues $X.XX as diluted and $X.XX share operating was of million

increase DVO representing prior and we revenue by basis, of Emerald related This increased increase reported build revenue full revenues these XWR compared Construction the of driven offset acquisitions XXXX X.X%. decreased revenues was in total and the by year, and from a the revenues $XX.X On $XX demand equipment in in of were million to in equipment U.S. to design systems million reduced XXXX. cannabis an services market. acquisitions in year

million or $XX.X in dollars XX% to the result in decrease in compared prior year. mix. overall the of was million revenue revenue changes of profit XX% This revenue profit was or Gross gross of margin the and $XX.X

increased with associated $XX.X issue included compared in development onetime preparing acquisitions $X.X a and growth. were by million in expenses related Operating planned the in expense to operating for were expenses year. million the lighting million and Operating $XX satisfying as business Emerald to Europe by encountered future driven a expenses DVO, increases prior a expansion XWR, of headcount into Remaining customer. major our XXXX

adjusted to $X million prior $X million $X.X $X.X to negative in year compared period. were million of loss million. compared million a $XX.X $X.X year prior include the in million was of was net expenses to the EBITDA loss and Non-operating Net impairment and $X.X comparable million compared positive losses

Now our turning balance sheet. to

Our strategy. million no excellent our sheet balance the structure provides the on XXXX $XX bank circumstances necessary in fueling remains to manage our growth capital simultaneously macroeconomic We flexibility while through condition. with market entered cash of debt, which us and

reported to Moving backlog.

was backlog construction in Our $X quarter $XX $X as XXXX, that and approximately total backlog of professional comprised million the million up systems of of contracts. the third reported of of million $XX equipment we and XXXX. of December $XX the XX, at million This is from build, is million services end design

While two variables dependent recognition in there the are influence individual then commitments our of are several from that expenditure capital made can recognized relates stipulated a these revenue factors orders of primary signed change dollar the orders amount period. backlog and in periods customers, is on signed to delivery the fluctuate orders. by Revenue during signed our backlog, materially. orders customer Because

prepared open our for questions. concludes That remarks. Operator, call the please

Operator

Capital conducting be we'll with time, Eric Craig-Hallum your question-and-answer Please from Group. this Our comes At Lauriers you. question Des a with first question. [Operator session. Thank Instructions] proceed

Eric Des Lauriers

was a to some wondering one commercial could if trends is on color the guide there. the is or help seeing how bit able the more if much side you. you're I on Thank you're backlog you of provide that CEA? business. commercial just first versus us projects your of My And quantify of

Brad Nattrass

Eric. for Thanks, Yes, sure.

of to call, balance trend. clients. contracts, about our continues that was last executing As to increase contracts the these sheet gave that the quarterly us also opportunity Construction And talked I on had the of number the with strength be of the Emerald the commercial size

our that about that a about would a $X total thirds is million we that over year, a segment. look year, be third varying the you of I contracts and in right we're be XX% of of weekly. that call signing will commercial business million these proceed from And the about may million. maximum the there two $XX minimum are of will size little in of to be when commercial. the now as into $XX size at 'XX, in CEA of of CEA backlog XX% And end - in about the mentioned and of new estimate the by And is at end a I the

Eric Des Lauriers

Okay. such could have with perhaps that on the rebound that the understand color to Great. second And us bit you a that, seen rebound? regards might a the into helpful. you I half, more then you into That's design of very you build New in provide just cannabis as help know visibility Jersey of perhaps expecting a you're these from delayed conversion mentioned may and that an projects some that example bit been some a equipment sales. have have

rebound you what in of in cannabis-related visibility Thank half? the the Just you. kind us have into understand help revenues second

Brad Nattrass

Eric. Thanks, Okay.

the some Mississippi. Our remains the the segment about And clients, when that in delaying in about and regulatory it's to the part opening states the cannabis the a issues turn, of of are of predominantly these up. award our all talk of in rebound business that east licenses sector, I middle in

Jersey, clients contract architecture awarded access then So have a and signed funding the to that on forward they worked design, build urban-gro. they design awarded and in working a the we when through with were their licenses license they move with they and were able New been and

and the sales, the typically entire to first the months design juncture depending well to choose on equipment before with have it's solution working holistic be And sales, to benching, absolutely build variety X be have Eric, that make that the their for the quarters worked That the build budget. been clients air with providing to groups relates continues for where mechanical, - they'll trend time. right, longest as model about facility it's whether that, sign in your decision X we of in who it the with couple for But As the the facility, with design the options controls. lead before those a would to a clients equipment them are a we lighting, you're because on of environmental a at then contract. will them

those Alabama, through other through be build now that issues, them. working with states. that we're in service will There's looking we couple even awarded, clients probably very awarding are dozen a licenses when upon we're confident centers, those levels amongst the working And state. to based move Missouri, Florida, the working that that licenses, at regulatory we've to So provided of the able are design states Georgia, clients additional those

progress XXXX, our we'll lot to calls, each excited we build as continued quarterly at it quarter. our successes, and through design by be in So be a we a growth report backlog that more share evidenced will

Eric Des Lauriers

you. great. Okay, color. Appreciate Thank the

Brad Nattrass

Thanks, Eric.

Operator

from is MKM. proceed question Brian with next Please Our Wright your ROTH question. with

Brian Wright

one-stop Good a are backlog off questions. some thematically big thanks. want the just instances with shop from there Hi, the success quick I integration design the full construction? of couple full afternoon. through way the with had strategy, build, I all to start of on

Brad Nattrass

designing we're equipment of design Brian, because the we one was can going we at design a in sign the to to is build contract open equipment signed in different and in do when It's typically New look contract an keep There announced December. we those of process so Jersey. variety that contracts, not Yes. $XX preconstruction, we and And build solutions. a million want options

So that's X to months typically signed later. X

Brian Wright

fair... the put out probably so even actuality, in a backlog than that you So stronger Is - there. what the is

Brad Nattrass

Yes.

deposits are we'll assumption, I and but signed, classify we anticipated it those unless that's received, don't fair think as because call backlog. contracts it a backlog

will to signed the quarter as XX XX realized to $XX it anywhere and be facility relates full will million, one the on million cannabis in to up depending from large months. that a that could take to $XX of - sector category, depending So it on - that's contracts

Brian Wright

the to we're willing then I there here kind end chance of share backlog is you'd any towards where it. the Got the Is And of first quarter. guess now? be

Brad Nattrass

it the would hope investing assume we're No. we continues negative it's - gave evidenced the a strengthen. I that adjusted to that But experiencing fair infrastructure EBITDA that assumption growth that the in continued think by with the and to - in, color QX. on I we're

Brian Wright

think last low just the us first kind ramp out being And the quarter with second with in. one - little Great. bit on quarter if just help a the you sneak on Okay. like fourth revenue, versus Could I one about first with half? how the to kind could half of the of

Brad Nattrass

Yes, for sure.

tied build off January kick off they In that ended to and expected to of projects in kicking design terms March. is QX, it in up we

So the good is they off. kicked news

those the and projects, the future, a guidance. and at We of now the have commercial boots year one why that's one Brian, we into backlog more upon we CEA. now strength the of in ground, QX, on end giving and line and of actively comfortable developing the in lot the based the And have we're sight, felt

growth the it we color all well. give hard are But revenue - back year, to of through We're soon adjusted to possible. positive, QX it will on get both anticipating And the we actually quarter-over-quarter hands a end and working as as as sequential in bring deck positive adjusted EBITDA EBITDA. on

said I remains there but we'll last no QX working that it. call, still guarantees was our we're target, but the on QX, hard the get target in On

Brian Wright

Great. Thank so much. you

Brad Nattrass

Thank you, Brian.

Operator

Please next with from Anthony Our is question. Group. proceed with your Maxim question Vendetti

Anthony Vendetti

of in any I that on credit of terms market Brad, a of wondering rising talk Yes. of level you the a did if how rates, more any little capital credit, macro equipment color on purchase you bit was impacting just some bit out? tightening some could contracts And this Thanks. interest then to the little expect call, a mention of contracts? the just in or longer-term you roll that of some long-term

Brad Nattrass

Perfect.

the on start both side very side Anthony, all million. both funds seen. the in of with First, the our with companies and commercial we've $XX I'll well-funded, CEA the with CEA proof - backlog, strong also side, on That's

continue. finance are have forward to order that hit are to milestones in don't groups that moving these So funding

we issues from license statement. countering haven't their to we state QX, not in awarded, have when that a the of that But secure funds. is we always did overall, any earlier a working built. And that said, a client awarded our on affecting license had was I've still because on - was - On customers those had facilities that rights, be will

So before follow was that [ph] but - the banking recent

haven't experienced CEA larger build issues space, the we're these XX had design as seen contracts, mentioned, haven't in any because with any - recent events at all. on I last are, the a the required to clients that's for funded. when XX start. outlay those know into backlog, money, especially we them at the when large forward there's months, are And and groups the the the We bring moving week And in we well we our they're that

versus standpoint, looking From that's we've may XX% upgrade clients existing drop their moving the last facility revenues in 'XX much maybe building They're an see cash QX expenditures energy-efficient believe and on equipment cannabis more king, that us lighting, space focusing off maintaining CapEx in compared and be their clients, now. seen QX are to is single-state, right as multi-state I 'XX. fall operators quarters, those and they're three where their for in evidenced large retrofit with hunkering We the equipment to as LEDs, to a they as pause. on down. our don't Cash can. really

contracts, those it to starts. operation to months facility a are X natural equipment their design take in But funded the evolution X clients through and is after to build

So then retrofitting. weakness the we're of across board strength guess, seeing, I facilities and terms some existing in

basis, And commitments, of on whatsoever the the We're side. cut percentage moving a timing add they've of And the when urban-gro that I'll on completion project. working a already we've they companies. never global PO, large commercial more towards allocated capital there. with the had issues any One funds to piece

Anthony Vendetti

in That's Excellent. hop queue. Okay. the I'll Appreciate helpful. it. back

Brad Nattrass

Okay. Thanks, Anthony.

Operator

from Eric SCC Our Please with Beder final proceed question your is Research. question. with

Eric Beder

afternoon. Good

I two of guess I questions kind areas. different have different So

read a I you you sector? about the Europe, guess, [ph] When does feel all, cannabis. First where on little look legalizing how potentially guess, large lot of timing have, of pieces could what agriculture advantage very and it same, in there's the Germany becoming a us players the content urban-gro competitive I besides of in the you give is at

Brad Nattrass

we momentum North lot in the U.S. - space aggressively wasn't cannabis or pull and in the before America in a there's there pandemic in it of the like enough Eric, through but to Europe, experienced

the less And at are further before for probably that the proceed the single years this without in looking Europe in want market responsibility North down is American look U.S. the clients of as X I So was than influence hire now. don't expertise was Europe know-how. brings There where pandemic. the They ago that make there them point having that urban-gro allows to in-house. to accountability That's path mistakes. and to cannabis

So for savings as far as them OpEx it's great concerned. are

request take until there's the seems It country. to could growing But a been the could far give ruling cannabis of a waiting EU us, design. and architecture, Everything to quarters far for in their equipment, of the in now. positive it's business blessing on been it so all design the there. but all right bit It Germany, little have has months, they're predominantly contracts take weeks. so could Europe, take in for engineering cultivation

that on entrants entering business There's there'll And new new make and will who appearance. within them, the takes marketplace. be expansion medicinal are once the have country. would those started there the expect place, from ruling four then operating current But already facilities operators of built be an entrants the side to and

clients Our shows. has are been or able shows team are like exhibiting And our attending the partners. ago, with either trade connect - to are years to trade where the future individuals multiple just able U.S. in X

success be having believe next attending. there's three we're will that I great conferences far. And months, - we've So in exhibiting more X been the so

Eric Beder

have some to contracts now pushed it do you ability your and to there are that [ph] two I guide made bigger that that you you've And domestic, next more to these larger the take enough was the us another big necessary you had potential of put acquisition on of going to think What you extent. acquisitions? opportunistic, a the larger and or with at looking - seeing is be level forward change projects people And mentioned what acquisitions? guess, in Okay. flow out, to the and terms bigger entire the

Brad Nattrass

build million new design contracts $XX - entering was design $XX And build that we QX. $XX the of backlog backlog construction million recognized then And QX. construction signed and We of QX, our in million. in

million. So $XX at we ended about

And projects each a management we're of size strong is But urban-gro by need Emerald a projects. key to Management regional build team on And we and look larger - have is one. you perhaps focused to at can strong other great at complete case, firms answer the depends fewer you the Construction help individuals? much on having it? continue need that upon it's scale. site, hiring a do And management question, we to are the construction when project on-site the superintended that Or

that under under members approach our we to model, front. sorry, this team, needing keep taking M&A go this – strong marketplace, adding to - on key to strong can on continue key the as we're to the opposed clientele So that under

Eric Beder

for Okay. Thank more [ph] luck exciting you and good

Brad Nattrass

Thank you. Appreciate it, Eric.

Operator

That Please is today. turn closing for over to @urban-gro.com the with any now investors for have will reach additional Mr. comments. all the Nattrass questions out back I questions. we call to

Brad Nattrass

cannabis year. professional do strong it's in our in still operate. we design services you, early we which model in build a too In diversified Thank this to anticipate see forecast, closing, across and we Rob. sectors momentum the to sector recovery later all although continue And

in increased a positive diverse support. we're continuing to backlog, We're this EBITDA for as a which demand and we've grateful have integrate and ongoing more and remain Thanks more strengthen. On to as today service operations to 'XX, focused our our stronger, logging with adjusted soon team, behalf to than we're million company durable. Entering to on we our return your interest and evidenced wonderful possible. scale committed evening. ever continues of been, We're for $XX

Operator

today's conference. concludes This

time, and we lines at your thank disconnect you participation. You your this for may

urban-gro (UGRO) 30 Mar 232022 Q4 Earnings call transcript