Agrify's Q3 Revenue Drop, $18.6M Loss Amid New Leadership

Agrify Corporation (NASDAQ:AGFY), a cannabis and hemp solutions provider, reported its third quarter 2024 financial results Thursday, revealing a $1.9 million revenue, down from $3.1 million a year ago. The company posted a net loss of $18.6 million, largely driven by a $15 million change in the fair value of warrant liabilities.

Q3 2024 Financial Highlights

• Revenue: $1.9 million, compared to $3.1 million in Q3 2023.
• Net Loss: $18.6 million, primarily due to a $15 million change in the fair value of warrant liabilities, compared to a net loss of $2.1 million in Q3 2023.
• Gross Profit: $0.2 million, compared to $1.0 million in Q3 2023.
• Adjusted EBITDA: Not specified in the earnings report.

New Financing Strengthens Agrify’s Balance Sheet

Despite ongoing financial struggles, ...

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