Urban-gro grows losses, prunes sales

LAFAYETTE —  Indoor cannabis agriculture engineering and dispensary design firm Urban-gro Inc., (Nasdaq: UGRO) saw its sales tumbles and losses mount in the fourth quarter of 2022.

The company posted sales of $17.3 million in the most recently completed quarter, down from $19 million in the fourth quarter of 2021.

“This decrease from the prior year period was driven by lower equipment systems revenue of $13.3 million, primarily reflecting significantly reduced equipment demand in the U.S. cannabis market as a result of ongoing state-level regulatory delays in the license-awarding process, as well as the lack of movement on passing…