urban-gro, Inc. Reports Record First Quarter 2022 Financial Results with Revenue Growth of 76% and 7th Consecutive Quarter of Positive Adjusted EBITDA
NON-GAAP ADJUSTED EBITDA RECONCILIATION TO NET INCOME (LOSS)
| |
Three months ended March 31,
|
| |
2022 | |
2021 |
|
Net Loss |
$ |
(696,217 |
) | |
$ |
(1,588,582 |
) |
| Interest expense | | 7,658 | | | | 317,443 | |
| Interest expense - BCF | | - | | | | 636,075 | |
| Interest income | | (79,852 | ) | | | - | |
| Income tax benefit | | (108,060 | ) | | | - | |
| Depreciation and amortization | | 218,278 | | | | 55,685 | |
|
EBITDA |
$ |
(658,193 |
) | |
$ |
(579,379 |
) |
| Loss on extinguishment of debt | | - | | | | 790,723 | |
| Stock-based compensation | | 882,000 | | | | 290,805 | |
| Transaction costs | | 55,225 | | | | 6,687 | |
| Non-recurring legal fees | | 161,546 | | | | - | |
|
Adjusted EBITDA |
$ |
440,578 | | |
$ |
508,836 | |
