Financial Performance - Revenue for Q3 2024 was $1.9 million, a decrease from $3.1 million in Q3 2023, representing a decline of approximately 39% year-over-year [2]. - Gross profit for Q3 2024 was $0.2 million, down from $1.0 million in Q3 2023, indicating a decrease of about 77% year-over-year [5]. - Net loss for Q3 2024 was $18.6 million, primarily due to a $15 million change in fair value of warrant liabilities, compared to a net loss of $2.1 million in Q3 2023 [2]. Financing and Investments - Agrify secured new convertible note financing of up to $20 million, with an initial draw of $10 million from Green Thumb Industries on November 5, 2024 [2]. - Agrify announced the intent to acquire the Señorita brand of hemp-derived THC drinks on November 12, 2024, marking a strategic expansion into the beverage sector [2]. Assets and Liabilities - Total assets as of September 30, 2024, were $38.95 million, while total current liabilities were $27.77 million, resulting in total equity of $5.46 million [6]. - Cash and cash equivalents stood at $263,000 as of September 30, 2024 [6]. - Inventory, net, was reported at $18.09 million, indicating a significant asset base in product stock [6]. Shareholder Information - The weighted average number of shares outstanding for Q3 2024 was approximately 1.08 million, reflecting the impact of recent reverse stock splits [5]. Strategic Outlook - Agrify's Chairman and Interim CEO Ben Kovler emphasized the company's readiness to capitalize on opportunities in the evolving hemp and cannabis industries [2].

TROY, Mich., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), a leading provider of branded innovative solutions for the cannabis and hemp industries, today announced financial results for the quarter ended September 30, 2024.  Third Quarter 2024 Financial Results Summary Revenue was $1.9 million for the third quarter of 2024Gross profit was $0.2 million for the third quarter of 2024 Net loss for the third quarter of 2024 was $18.6 million, primarily attributed ...

High-Potential Marijuana Penny Stocks to Keep an Eye on Next WeekAs the cannabis industry continues to grow, marijuana stocks have gained significant attention from investors. In 2023, the U.S. cannabis market generated over $32 billion in sales, and projections suggest it could reach $50 billion by 2028. With ongoing legalization efforts, the industry is poised for further expansion. Recent headlines, including the possibility of federal legalization, have fueled interest in marijuana stocks. These develop ...

TROY, Mich., Aug. 14, 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 second quarter ended June 30, 2024. Second Quarter 2024 Financial Results Summary Revenue was $3.0 million for the second quarter of 2024, compared to $2.6 million for the first quarter of 2024 and $5.1 million for the second quarter of 2023.Gross profit was $1.7 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-39946 AGRIFY CORPORATION (Exact name of registrant as specified in its charter) Nevada 30-0943453 (State or other juris ...

BILLERICA, Mass., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY) ("Agrify" or the "Company"), the most innovative provider of advanced cultivation and extraction solutions for the cannabis industry, would like to remind stockholders to cast their votes for the proposals that will be voted on at the Company's annual meeting of stockholders (the "Meeting") in advance of the proxy voting deadline for voting by telephone or electronically of 11:59 p.m. (Eastern Daylight Time) on Sunday, Augu ...

BILLERICA, Mass., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), the most innovative provider of advanced cultivation and extraction solutions for the cannabis industry, would like to remind stockholders to cast their votes for the proposals that will be voted on at the Company's annual meeting of stockholders (the "Meeting") in advance of the proxy voting deadline for voting by telephone or electronically of 11:59 p.m. (Eastern Daylight Time) on Sunday, Augu ...

Vertical farming is a hot topic with significant productivity-based advantages. In fact, the industry is forecasted to grow by 24.1% annually until 2031, illustrating its potential. As a result, investors are looking into vertical farming stocks for massive returns. Given the above, I embarked on a journey to find three undervalued vertical farming stocks. I was aware that value and growth traps are prominent due to the industry’s immature state. As such, I applied a robust screening methodology, which look ...

3 Ways That the 2024 Election Can Impact Penny StocksElections can significantly influence financial markets, including the domain of penny stocks. Penny stocks, often traded below five dollars per share, present a unique opportunity for investors aiming for substantial gains through small initial investments. The 2024 election is set to impact the trading of penny stocks in several ways, primarily through regulatory changes, market sentiment, and sector-specific movements.[Read More] Trading Penny Stocks o ...

Agrify (NASDAQ:AGFY) stock is rocketing higher on Monday alongside heavy pre-market trading of the cannabis hardware and software cultivation company's shares. This has more than 17 million shares of AGFY stock changing hands as of this writing. That's well above the company's daily average trading volume of about 1.1 million shares. Investors will also note that Agrify's float is sitting at 7.17 million units. It's unclear what's causing this increased interest in AGFY stock. There are no new press release ...