Business
Urban Infrastructure Group Inc. Reports the Filing of March 31st, 2025, Q2 Interim Financial Results and MD&A
Highlights: Revenue for Q2 2025 was $1M compared to prior year Q2 revenue of $1.536M R...
About this update from Urban Infrastructure Group Inc.
[{"type":"text","content":"Urban Infrastructure Group Inc. Reports the Filing of March 31st, 2025, Q2 Interim Financial Results and MD&AHighlights:Revenue for Q2 2025 was $1M compared to prior year Q2 revenue of $1.536MRevenue for the six months ended was $2.4M compared to $3.5M for the same period in 2024Reduction in head office operating expense through staffing optimizationStreamlined, industry focused leadership changes:Gary Alves, Founder and President assumes the position of Chief Executive OfficerSteve Kaszas joins the board and Luca Filice appointed Chief Operating OfficerToronto, Ontario--(Newsfile Corp. - May 28, 2025) - Urban Infrastructure Group Inc. (TSXV: UIG) (\"urban\" or the \"Company\"), a leading stage-one concrete and drainage infrastructure construction group, specializing in large scale new residential housing developments, announces its financial results for three and six months ended March 31, 2025. All financial information is provided in Canadian dollars unless otherwise indicated. The Consolidated Financial Statements and Management Discussion and Analysis (\"MD&A\") for the three and six months ended March 31, 2025, are available on the Company's SEDAR profile at www.sedarplus.ca. Gary Alves stated, \"Urban continues to execute on its core business, while increasing its focus on diversification and vertical integration. While the current market conditions are challenging for the home construction industry as a whole, for those who are nimble and innovative there are opportunities. We at Urban remain committed to our core values of quality, trust and customer focus while at the same time embracing the change. Additionally, I am excited about the most recent addition of Luca Filice to the role of C.O.O. Luca brings a wealth of experience and industry relationships across both the construction and financial sectors. I am working closely with Luca on several initiatives that we look forward to sharing in due course.\"Management Commentary on the Second Quarter of Fiscal 2025The Company recorded a net loss of $367,745 ($0.00 per share) for the three-month period ended March 31, 2025 as compared to net loss of $1,863,622 ($0.32 per share) for the three-month period ended March 31, 2024. The decrease in net loss is mostly the result of the one-time go-public expense in the March 2024 quarter, the vast majority of which was a ...