- Urban-gro, Inc. (UGRO, Financial) has secured three new construction contracts with Fogo de Chão, expanding their commercial sector reach.
- The projects include one full construction and two Construction Management contracts, with revenue recognition expected by Q3 2025.
- The new contracts further urban-gro’s relationship with Fogo de Chão, building on ongoing projects in Texas and Colorado.
Urban-gro, Inc. (NASDAQ: UGRO), a professional services and Design-Build firm, has been awarded three new contracts with the Brazilian restaurant chain Fogo de Chão. These contracts signify a strategic expansion in urban-gro's commercial sector engagements and include varying responsibilities across different U.S. locations.
In Murray, Utah, urban-gro will oversee a comprehensive construction project covering all phases from preconstruction through to post-construction. This project is designed to handle the full lifecycle of the construction process, ensuring consistency in execution and delivery.
In addition to the Utah project, urban-gro has also secured two Construction Management contracts. These contracts are situated in Las Vegas, Nevada, and Rancho Cucamonga, California. As part of these agreements, urban-gro will act as the owner’s representative, managing project objectives, deliverables, and timelines to facilitate seamless project completion.
These new projects are slated to commence immediately, with a substantial portion of the revenue expected to be recognized by the third quarter of 2025. This timeline provides urban-gro with a stable revenue forecast, enhancing financial visibility in an often unpredictable market.
The partnership with Fogo de Chão is a testament to urban-gro’s growing reputation and trust in the commercial construction sector. It builds on already established relationships with Fogo de Chão through previous projects in Texas and Colorado.
Bradley Nattrass, CEO of urban-gro, expressed enthusiasm for the new contracts, highlighting the company's ability to provide tailored, integrated solutions across diverse markets. The geographical and service diversification supports urban-gro’s strategy to broaden its market presence beyond its traditional business model.
