urban-gro has signed multiple new contracts with more than a dozen clients in the cannabis sector, with aggregate expected contract revenue totaling approximately $12 million. The contract scopes include engineering, architecture, and design services, along with equipment procurement and construction management for cultivation and retail dispensary projects. The Company expects the majority of the revenue from these projects to be recognized by the end of the third quarter of 2024.
"We are encouraged by the momentum in the cannabis sector, which we believe is partly due to positive developments related to rescheduling and the upcoming vote on adult-use cannabis in Florida," said Bradley Nattrass, Chairman and CEO. "While the cannabis sector is still recovering from this last downward cycle, we have worked diligently over the past two years to optimize our multi-sector diversification strategy with a leaner and more efficient infrastructure. With our unmatched industry experience, our professional services team is well positioned to meet the anticipated acceleration in demand for our custom cannabis sector solutions."
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urban-gro
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