Agrify Corp

For the period ended Dec 31, 2023. Filed Apr 15, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Apr 15, 2024

RYM$17.11+8.0%Stored close · as of Nov 9, 2026

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Contents

Consolidated Balance Sheets

(In thousands, except share and per share data)

	As of December 31,
	2023	2022
Assets
Current assets:
Cash and cash equivalents	$430	$10,457
Restricted cash	—	10,000
Marketable securities	4	460
Accounts receivable, net of allowance for credit losses of $1,887 and $4,605 at December 31, 2023 and 2022, respectively	1,149	1,070
Inventory, net of reserves of $17,599 and $32,422 at December 31, 2023 and 2022, respectively	19,094	21,396
Prepaid expenses and other current assets	3,332	1,510
Total current assets	24,009	44,893
Loan receivable, net of allowance for credit losses of $19,215 and $33,050 at December 31, 2023 and 2022, respectively	11,583	12,214
Property and equipment, net	7,734	10,044
Operating lease right-of-use assets	1,803	2,210
Other non-current assets	141	326
Total assets	$45,270	$69,687
Liabilities and Stockholders’ Deficit
Current liabilities:
Accounts payable	$20,766	$20,543
Accrued expenses and other current liabilities	10,655	16,380
Operating lease liabilities, current	599	734
Long-term debt, current	766	28,833
Related party debt, current	4,444	—
Deferred revenue	4,019	4,112
Total current liabilities	41,249	70,602
Warrant liabilities	1,290	5,985
Other non-current liabilities	—	147
Operating lease liabilities, net of current	1,394	1,587
Long-term debt, net of current	16,047	407
Total liabilities	59,980	78,728
Commitments and contingencies (Note 16)
Stockholders’ deficit:
Common Stock, $0.001 par value per share, 10,000,000 and 5,000,000 shares authorized at December 31, 2023 and 2022, respectively, 1,701,243 and 1,038,298 shares issued and outstanding at December 31, 2023 and 2022, respectively (1)	2	1
Preferred Stock, $0.001 par value per share, 2,895,000 shares authorized, no shares issued or outstanding	—	—
Preferred A Stock, $0.001 par value per share, 105,000 shares authorized, no shares issued or outstanding	—	—
Additional paid-in capital	250,855	237,875
Accumulated deficit	(265,797)	(247,148)
Total stockholders’ deficit attributable to Agrify	(14,940)	(9,272)
Non-controlling interests	230	231
Total liabilities and stockholders’ deficit	$45,270	$69,687

(1)

Periods presented have been adjusted to reflect the 1-for-20 reverse stock split on July 5, 2023. Additional information regarding the reverse stock splits may be found in Note 1 – Overview, Basis of Presentation, and Significant Accounting Policies, included in the notes to the consolidated financial statements

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.