Agrify Corp
For the period ended Dec 31, 2023. Filed Apr 15, 2024.
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FY2023 · Filed Apr 15, 2024
RYM$16.43-3.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net loss attributable to Agrify Corporation | $(18,649) | $(188,173) |
| Adjustments to reconcile net loss attributable to Agrify Corporation to net cash used in operating activities: | ||
| Depreciation and amortization | 1,896 | 3,047 |
| Amortization of debt (premium) discount | (109) | 4,459 |
| Interest on investment securities | — | (232) |
| Amortization of issuance costs | 24 | 420 |
| Deferred income taxes | — | 23 |
| Stock based compensation expense | 2,663 | 4,319 |
| Change in fair value of warrant liabilities | (4,695) | (51,461) |
| Loss on extinguishment of long-term debt, net | 4,311 | 38,985 |
| Impairment of goodwill and intangible assets | — | 69,904 |
| (Recovery of) provision for credit losses | (15,261) | 36,694 |
| (Recovery of) provision for slow-moving inventory | (14,823) | 31,480 |
| (Gain) loss on disposal of property and equipment | (63) | 33 |
| Impairment of property and equipment | — | 2,912 |
| Change in fair value of contingent consideration | — | (2,156) |
| Income attributable to non-controlling interests | (1) | (134) |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Accounts receivable | 1,347 | 1,540 |
| Inventory | 17,158 | (30,248) |
| Prepaid expenses and other current assets | (566) | 3,222 |
| Right of use assets, net | 299 | (731) |
| Other non-current assets | 170 | 1,138 |
| Accounts payable | (108) | 11,236 |
| Accrued expenses and other current liabilities | (4,473) | (8,555) |
| Operating lease liabilities | (217) | 803 |
| Other non-current liabilities | — | 79 |
| Deferred revenue | (93) | (625) |
| Net cash and cash equivalents used in operating activities | (30,974) | (72,021) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (59) | (8,134) |
| Proceeds from disposal of property and equipment | 311 | — |
| Purchase of marketable securities | — | (294,687) |
| Proceeds from sale of marketable securities | 10,456 | 329,009 |
| Issuance of loans receivable | (591) | (23,009) |
| Proceeds from repayment of loan receivable | 15,057 | — |
| Payments on contingent liabilities | — | (3,330) |
| Cash received from escrow account related to Sinclair acquisition | — | 1,351 |
| Cash paid for business combination, net of cash acquired | — | (3,517) |
| Net cash and cash equivalents provided by (used in) investing activities | 25,174 | (2,317) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of debt and warrants in private placement, net of fees | — | 61,817 |
| Proceeds from issuance of Common Stock and warrants in private placement, net of fees | — | 25,796 |
| Proceeds from issuance of Common Stock through an “at the market” offering, net of fees | 1,545 | 15,042 |
| Proceeds from Employee Stock Purchase Plan Shares | 25 | — |
| Proceeds from exercise of options | — | 20 |
| Proceeds from confidentially marketed public offering | — | 8,193 |
| Proceeds from issuance of warrants in settlement agreement | 1,554 | — |
| Proceeds from issuance of related party notes | 4,444 | — |
| Repayments of notes payable, other | (71) | (187) |
| Repayment of debt in private placement | (10,307) | (35,497) |
| Payments on other financing loans | (5) | (254) |
| Payments on insurance financing loans | (1,332) | (1,928) |
| Payments of financing leases | (80) | (221) |
| Net cash and cash equivalents (used in) provided by financing activities | (4,227) | 72,781 |
| Net decrease in cash and cash equivalents | (10,027) | (1,557) |
| Cash and cash equivalents at the beginning of period | 10,457 | 12,014 |
| Cash and cash equivalents at the end of period | $430 | $10,457 |
| Cash, cash equivalents, and restricted cash at end of period | ||
| Cash and cash equivalents | $430 | $10,457 |
| Restricted cash | — | 10,000 |
| Total cash, cash equivalents, and restricted cash at the end of period | $430 | $20,457 |
| Supplemental disclosures | ||
| Cash paid for interest | 76 | 4,969 |
| Supplemental disclosures of non-cash flow information | ||
| Initial fair value of warrants | $5,432 | $55,627 |
| Financing of prepaid insurance | $1,694 | $1,928 |
| Transfer of property and equipment to inventory | $33 | $— |
| Conversion of convertible notes | $3,306 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.