Three months ended March 31,
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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.