Urban-Gro (UGRO) Q1 2026 earnings summary

Executive summary

• Completed merger with Flash Sports & Media, pivoting from agriculture to sports, media, and experiential marketing, with operations now focused on cricket league commercialization, especially the Lanka Premier League (LPL).

• Legacy controlled environment agriculture operations classified as discontinued; company now operates in a single segment: sports, media, and experiential marketing.

• No revenue recognized from continuing operations in Q1 2026 due to seasonality of LPL; principal revenue expected in later quarters.

Financial highlights

• Q1 2026 revenue from continuing operations: $0, reflecting the absence of LPL events during the quarter.

• Operating expenses for Q1 2026: $2,125,236, including $1,718,048 in amortization of acquired intangibles.

• Net loss attributable to common stockholders for Q1 2026: $3,225,584, compared to $4,033,912 in Q1 2025.

• Cash balance as of March 31, 2026: $305,139, with a working capital deficiency and accumulated deficit of $128,092,824.

• Discontinued operations loss for Q1 2026: $952,121, reflecting wind-down of legacy businesses.

Outlook and guidance

• Anticipates principal revenue from LPL Season 7 in late 2026 and other cricket league operations.

• Plans to fund operations through additional draws on convertible note facilities, equity line of credit, and potential new financings.

• Substantial doubt remains about ability to continue as a going concern due to recurring losses and liquidity constraints.