Agrify Corp Files Q1 2024 10-Q Report

TL;DR

Agrify filed its Q1 2024 10-Q. Check financials.

AI Summary

Agrify Corporation filed its quarterly report for the period ended March 31, 2024. The company, incorporated in Nevada, is headquartered in Troy, Michigan. Its common stock trades under a symbol on an exchange, though the specific ticker and exchange are not detailed in this excerpt. The filing is a standard 10-Q report.

Why It Matters

This filing provides investors with an update on Agrify's financial performance and operational status for the first quarter of 2024, crucial for assessing the company's health and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that can reveal significant risks or opportunities, requiring careful analysis.

Key Players & Entities

• Agrify Corporation (company) — Registrant
• March 31, 2024 (date) — Quarterly period end date
• Troy, Michigan (location) — Principal executive offices
• Nevada (location) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share AGFY NASDAQ Capital Market
• $46 — 2024 2023 Revenue (including $ 0 and $46 from related parties, respectively) $

Filing Documents

• ea0206077-10q_agrify.htm (10-Q) — 1075KB
• ea020607701ex31-1_agrify.htm (EX-31.1) — 10KB
• ea020607701ex32-1_agrify.htm (EX-32.1) — 4KB
• image_001.jpg (GRAPHIC) — 7KB
• 0001213900-24-045393.txt ( ) — 7254KB
• agfy-20240331.xsd (EX-101.SCH) — 81KB
• agfy-20240331_cal.xml (EX-101.CAL) — 62KB
• agfy-20240331_def.xml (EX-101.DEF) — 371KB
• agfy-20240331_lab.xml (EX-101.LAB) — 675KB
• agfy-20240331_pre.xml (EX-101.PRE) — 370KB
• ea0206077-10q_agrify_htm.xml (XML) — 856KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Financial Statements AGRIFY CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) March 31, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 95 $ 430 Marketable securities 4 4 Accounts receivable, net of allowance for credit losses of $ 2,512 and $ 1,887 at March 31, 2024 and December 31, 2023, respectively 211 1,149 Inventory, net of reserves of $ 17,184 and $ 17,599 at March 31, 2024 and December 31, 2023, respectively 18,862 19,094 Loan receivable, current 692 — Prepaid expenses and other current assets 1,028 3,332 Total current assets 20,892 24,009 Loan receivable, net of allowance for credit losses of $ 18,885 and $ 19,215 at March 31, 2024 and December 31, 2023, respectively, net of current 10,891 11,583 Property and equipment, net 7,328 7,734 Operating lease right-of-use assets 1,651 1,803 Other non-current assets 99 141 Total assets $ 40,861 $ 45,270 Liabilities and Stockholders' Deficit Current liabilities: Accounts payable $ 12,428 $ 20,766 Accrued expenses and other current liabilities 7,843 10,655 Operating lease liabilities, current 615 599 Notes payable, current 1,374 — Long-term debt, current 696 766 Related party debt, current 1,000 4,444 Deferred revenue 3,784 4,019 Total current liabilities 27,740 41,249 Warrant liabilities 417 1,290 Operating lease liabilities, net of current 1,235 1,394 Notes payable, net of current 3,464 — Related party debt, net of current 17,683 — Long-term debt, net of current 47 16,047 Total liabilities 50,586 59,980 Commitments and contingencies (Note 14) Stockholders' deficit: Common Stock, $ 0.001 par value per share, 35,000,000 and 10,000,000 shares authorized at March 31, 2024 and December 31, 2023, respectively, 13,275,702 and 1,702,243 shares issued and outstanding at Marc

View Full Filing

View this 10-Q filing on SEC EDGAR