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Complete financial analysis of Agrify Corporation (AGFY) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Agrify Corporation, a leading company in the Engineering & Construction industry within the Industrials sector.
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Agrify Corporation (AGFY)
About Agrify Corporation
Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. The company offers vertical farming units and Agrify Insights Software-as-a-Service software; integrated grow racks and LED grow lights; and non-proprietary products designed, engineered, and manufactured by third parties, such as air cleaning systems and pesticide-free surface protection products. It also provides associated services comprising consulting, engineering, and construction. The company was formerly known as Agrinamics, Inc. and changed its name to Agrify Corporation in September 2019. Agrify Corporation was incorporated in 2016 and is headquartered in Billerica, Massachusetts.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|
| Revenue | 16.87M | 58.26M | 59.86M | 12.09M | 4.09M | 1.77M |
| Cost of Revenue | 11.59M | 90.05M | 54.63M | 11.52M | 4.33M | 1.55M |
| Gross Profit | 5.28M | -31.80M | 5.23M | 570.00K | -245.00K | 222.00K |
| Gross Profit Ratio | 31.29% | -54.58% | 8.74% | 4.72% | -5.99% | 12.55% |
| Research & Development | 2.30M | 8.18M | 3.93M | 3.35M | 109.00K | 17.00K |
| General & Administrative | 19.01M | 73.35M | 30.81M | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 4.13M | 9.34M | 4.16M | 0.00 | 0.00 | 0.00 |
| SG&A | 23.14M | 82.69M | 34.97M | 9.83M | 2.74M | 1.22M |
| Other Expenses | -1.18M | 1.32M | -31.00K | 0.00 | 49.00K | 2.00K |
| Operating Expenses | 24.26M | 90.87M | 38.90M | 13.19M | 2.85M | 1.24M |
| Cost & Expenses | 35.85M | 180.93M | 93.52M | 24.70M | 7.18M | 2.79M |
| Interest Income | 0.00 | 8.75M | 74.00K | 481.00K | 49.00K | 0.00 |
| Interest Expense | 1.85M | 8.75M | 74.00K | 481.00K | 0.00 | 0.00 |
| Depreciation & Amortization | 1.90M | 3.05M | 1.31M | 407.00K | 10.00K | 1.02M |
| EBITDA | -18.26M | -118.93M | -30.99M | -12.13M | -3.09M | 0.00 |
| EBITDA Ratio | -108.25% | -105.45% | -58.44% | -30.34% | -75.37% | -57.43% |
| Operating Income | -18.98M | -193.33M | -33.66M | -12.62M | -3.09M | -1.02M |
| Operating Income Ratio | -112.51% | -331.84% | -56.23% | -104.38% | -75.61% | -57.43% |
| Total Other Income/Expenses | 330.00K | 5.04M | 2.77M | -9.02M | 49.00K | 2.00K |
| Income Before Tax | -18.65M | -188.28M | -32.30M | -21.64M | -3.04M | -1.01M |
| Income Before Tax Ratio | -110.55% | -323.18% | -53.96% | -179.03% | -74.41% | -57.32% |
| Income Tax Expense | 2.00K | 23.00K | 25.00K | 9.00M | -161.86K | -2.00K |
| Net Income | -18.65M | -188.17M | -32.33M | -30.64M | -3.04M | -1.01M |
| Net Income Ratio | -110.56% | -322.99% | -54.00% | -253.50% | -74.41% | -57.32% |
| EPS | -187.63 | -13.53K | -4.39K | -3.20K | -449.67 | -149.88 |
| EPS Diluted | -187.63 | -13.53K | -4.39K | -3.20K | -449.67 | -149.88 |
| Weighted Avg Shares Out | 99.39K | 13.90K | 7.40K | 6.77K | 6.77K | 6.77K |
| Weighted Avg Shares Out (Dil) | 99.39K | 13.90K | 7.40K | 6.77K | 6.77K | 6.77K |
Agrify Corporation Announces $500K Turnkey Extraction Equipment Deal with Grotech Farms LLC in Bridgeton, NJ
TROY, Mich., June 11, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq: AGFY) (“Agrify” or the “Company”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced the signing of a $500K Turnkey Hydrocarbon Extraction and...
Agrify Corporation Regains Compliance with Nasdaq Stockholders' Equity Requirement
TROY, Mich., May 28, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced that after the recent $13.8 million debt-to-equity conversions by CP...
Agrify Corporation Announces Approximately $13.8 Million Debt-to-Equity Conversion
TROY, Mich., May 22, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq: AGFY) (“Agrify” or the “Company”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced an approximately $13.8 million debt-to-equity conversion by CP Acquisitions,...
Agrify Corporation Announces Results for First Quarter 2024
Company achieves near break-even quarterly results TROY, Mich., May 21, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced financial results for the...
Cannabis Merger Canceled: Nature's Miracle And Agrify Terminate Agreement Citing Unfavorable Market Conditions
Termination Agreements Executed With No Fees Both companies have executed termination agreements with mutual releases, canceling all prior agreements without any termination or cancellation fees. This also includes the cessation of Nature’s Miracle’s acquisition of Agrify’s outstanding debt. Get your...
Nature's Miracle Mutually Agrees to Terminate Plan to Merge with Agrify Corp.
ONTARIO, Calif. , May 20, 2024 /PRNewswire/ -- Nature's Miracle Holding Inc. (NASDAQ: NMHI) ("Nature's Miracle" or the "Company"), a leader in vertical farming technology and infrastructure, announced today that both Nature's Miracle and Agrify Corporation (NASDAQ: AGFY) ("Agrify"), have...
Agrify Corporation Mutually Agrees to Terminate Plan to Merge with Nature's Miracle
TROY, Mich., May 20, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), a leading provider of innovative cultivation and extraction solutions for the cannabis industry, today announced that Agrify Corporation and Nature's Miracle Holdings Inc. (NASDAQ: NMHI)...
These Marijuana Stocks Could Soon Rise In Momentum
Marijuana stock investors see the future of cannabis as being even more profitable in the market. But what is triggering this speculation surrounding investing in cannabis? The cannabis industry has come a long way over the years with over 50%...
SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Announces An Investigation of Agrify Corporation - AGFY
NEW YORK , May 16, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are...
Nature's Miracle and Agrify Corporation Announce Signing of the Definitive Merger Agreement
Transaction Expected to Close in the Second Half of 2024 ONTARIO, Calif. , May 16, 2024 /PRNewswire/ -- Nature's Miracle Holding Inc. (NASDAQ: NMHI) ("Nature's Miracle" or the "Company"), a leader in vertical farming technology and infrastructure, and Agrify Corporation...
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