Urban-gro posts record sales in first quarter

LAFAYETTE — Urban-gro Inc. (OTCQX: UGRO), a Lafayette-based developer of cannabis grow facilities, posted a record $12 million in sales during the first quarter of fiscal year 2021, a 182% increase from the same period last year.

The company trimmed net losses from nearly $1.7 million in the first quarter of 2020 to less than $1.6 million last period. In the first quarter of 2021, Urban-Gro saw adjusted EBITDA in the black at just over $502,000.

“We continued to build significant momentum on multiple fronts throughout the first quarter of this year. Beginning with our uplisting to Nasdaq and the closing of…