|
Three months ended March 31,
| |||||||
|
2022
|
2021
| ||||||
| Revenue | |||||||
| Equipment systems | $ | 17,067,344 | $ | 11,344,752 | |||
| Services | 3,638,507 | 260,513 | |||||
| Consumable products | 347,018 | 429,093 | |||||
| Total Revenue | 21,052,869 | 12,034,358 | |||||
| Cost of Revenue | 16,150,849 | 9,393,713 | |||||
| Gross profit | 4,902,020 | 2,640,645 | |||||
| Operating expenses: | |||||||
| General and administrative | 4,887,801 | 2,197,009 | |||||
| Stock-based compensation | 882,000 | 290,805 | |||||
| Total operating expenses | 5,769,801 | 2,487,814 | |||||
| Income (loss) from operations | (867,781 | ) | 152,831 | ||||
| Non-operating income (expenses): | |||||||
| Interest expense | (7,658 | ) | (317,443 | ) | |||
| Interest income | 79,852 | - | |||||
| Interest expense - beneficial conversion of notes payable | - | (636,075 | ) | ||||
| Loss on extinguishment of debt | - | (790,723 | ) | ||||
| Other income (expense) | (8,690 | ) | 2,828 | ||||
| Total non-operating income (expenses) | 63,504 | (1,741,413 | ) | ||||
| Income (loss) before income taxes | (804,277 | ) | (1,588,582 | ) | |||
| Deferred income tax benefit | 108,060 | - | |||||
| Net income (loss) | $ | (696,217 | ) | $ | (1,588,582 | ) | |
| Comprehensive income (loss) | $ | (696,217 | ) | $ | (1,588,582 | ) | |
| Earnings (loss) per share: | |||||||
| Net loss per share - basic and diluted | $ | (0.07 | ) | $ | (0.20 | ) | |
| Weighted average shares used in computation | 10,508,972 | 7,831,959 | |||||
urban-gro, Inc.
