Agrify Corporation develops precision hardware and software grow solutions for the indoor agriculture marketplace primarily in the United States. It offers vertical farming units, integrated grow racks, and LED grow lights; and non-proprietary products designed, engineered, and manufactured by third parties, such as air cleaning systems and pesticide-free surface protection products. The company also provides associated services comprising consulting, engineering, and construction. The company was formerly known as Agrinamics, Inc. and changed its name to Agrify Corporation in September 2019. Agrify Corporation was incorporated in 2016 and is based in Burlington, Massachusetts.
IPO Year: 2021
Exchange: NASDAQ
Website: agrify.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/23/2022 | Buy → Hold | Craig Hallum | |
| 11/1/2021 | $32.00 | Buy | Alliance Global Partners |
| 8/13/2021 | $20.00 → $31.00 | Buy | Roth Capital |
| 7/23/2021 | $25.00 | Buy | Craig Hallum |
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TROY, Mich., March 21, 2025 (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 and the fiscal year ended December 31, 2024. Fourth Quarter 2024 Financial Results Summary Revenue of $2.3 million for the fourth quarter of 2024.Loss on disposal of Cultivation business recorded in the fourth quarter of $11.9 million.Cash balance of $31.2 million at year end. As of March 19, 2025, Agrify has approximately 2.0 million shares and 7.6 million warrants outstanding. Fiscal Year 2024 Financial Results Summary Revenue was $9.7 mi
TROY, Mich., Feb. 05, 2025 (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 that Peter Shapiro and Sanjay Tolia have been appointed to its Board of Directors, effective January 31, 2025. The Company also announced Richard Drexler's departure from the Board, also effective January 31, 2025. "We are excited to welcome Peter and Sanjay to our Board of Directors at this critical time for our industry," said Agrify Chairman and Interim CEO Ben Kovler. "Their expertise and vision align with our commitment to shaping the future of THC consumption in Amer
TROY, Mich., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY), a leading provider of branded innovative solutions for the cannabis and hemp industries, today announced that it is the exclusive partner for hemp-derived THC (HD9) beverages at the Salt Shed, the iconic Chicago music venue run by hospitality collective 16" on Center. As a part of the larger venue sponsorship, fans can enjoy the award-winning THC Margarita beverage Señorita at every venue bar. Concertgoers can begin purchasing Señorita at Salt Shed's first show of the year tomorrow, January 11, 2025. Señorita drinks will be available for purchase year-round at all Salt Shed shows and at the upcoming RISE at Sa
TROY, Mich., Jan. 06, 2025 (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 the Company has signed an agreement for and closed the sale of its cultivation business to CP Acquisitions, LLC ("CP"), an entity affiliated with Raymond Chang, the Company's former Chairman and Chief Executive Officer (the "Transaction"). The Transaction involves the sale of the Agrify cultivation business and assets, the assumption of liabilities related to the cultivation business by CP, and the termination of two convertible notes held by CP totaling approximately $7 millio
TROY, Mich., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY) ("Agrify" or the "Company"), a leading provider of branded innovative solutions for the cannabis and hemp industries, has closed on its previously announced acquisition of certain assets from Double or Nothing LLC, the owner and creator of the Señorita brand of hemp-derived THC ("HD9") drinks. "This is great news for Agrify shareholders! We believe Señorita is the best tasting drink in the fastest growing, most exciting beverage category in the country," said Agrify Chairman and Interim CEO Ben Kovler. "Cannabis-based beverages like Señorita deliver consumers an enjoyable experience without the downsides of al
TROY, Mich., Nov. 21, 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 the Company has entered into securities purchase agreements with institutional and accredited investors in a non-brokered private placement priced at $22.30 per share for aggregate proceeds of approximately $25.9 million. The Company intends to use the proceeds from the private placement for general corporate purposes, including, among other things, working capital and business development. The private placement is expected to close on November 21, 2024, subject to the satisfacti
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 to a $15 million change in fair value of warrant liabilities As of November 14, 2024, Agrify has approximately 1.5 million shares of common stock outstanding and 6.3 million warra
Move would position Agrify to be a leader in the fast-growing, hemp-derived legal THC Beverage market Formulated by renowned winemakers Charles Bieler and Joel Gott, popular rapid growth beverage brand is currently distributed in nine states and Canada TROY, Mich., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY) ("Agrify" or the "Company"), a leading provider of solutions for the cannabis industry, today announced that it has signed a non-binding letter of intent to acquire certain assets from Double or Nothing LLC, the owner and creator of the Señorita brand of hemp-derived legal THC ("HDLT") drinks, in exchange for 530,000 shares of Agrify common stock or common sto
TROY, Mich., Nov. 05, 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 that its Board of Directors has approved a $20 million convertible secured note (the "Financing"), of which $10M will be drawn upon at closing, from a wholly-owned subsidiary of Green Thumb Industries Inc. ("Green Thumb") (CSE:GTII) (OTCQX:GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries. Prior to this financing, the Green Thumb subsidiary acquired an ownership stake in Agrify through the purchase of common stock and warra
TROY, Mich., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY), a leader in advanced cultivation and extraction solutions, is excited to announce Nevada Holistic Medicine's (NHM) Best Cultivation Award at the Nevada Cannabis Awards, held over the weekend at the Fairmont Country Club in Las Vegas. Nevada Holistic Medicine, owned by Scott Sibley, is a modern cultivation operation with 132 Agrify Vertical Farming Units (VFUs). Agrify and the Nevada Holistic Medicine Team collaborated on a comprehensive overhaul of the cultivation operation. Within 90 days, the team successfully doubled their flower production and reduced operational costs by 50% to less than $650 per lb. of f
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Craig Hallum downgraded Agrify from Buy to Hold
Alliance Global Partners initiated coverage of Agrify with a rating of Buy and set a new price target of $32.00
Roth Capital reiterated coverage of Agrify with a rating of Buy and set a new price target of $31.00 from $20.00 previously
Craig Hallum initiated coverage of Agrify with a rating of Buy and set a new price target of $25.00
Maxim Group initiated coverage of Agrify with a rating of Buy
Roth Capital initiated coverage of Agrify with a rating of Buy and set a new price target of $20.00
Maxim Group initiated coverage of Agrify with a rating of Buy and set a new price target of $22.00
ROTH Capital initiated coverage of Agrify with a rating of Buy and set a new price target of $20.00
Roth Capital initiated coverage of Agrify with a rating of Buy
BILLERICA, Mass., March 09, 2023 (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 it has signed a definitive agreement with its institutional lender (the "Lender") to amend its existing credit facility. "One of our key objectives at the beginning of this year has been to mitigate our financial risk profile, and reducing our total debt is one of the key initiatives to achieve that objective," said Raymond Chang, Chairman and CEO of Agrify. "We are proud of the confidence our Lender has shown in Agrify by taking up the opportunity to modify the fa
BILLERICA, Mass., Oct. 31, 2022 (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 it will host a conference call to review its financial results for the third quarter ended September 30, 2022 on Wednesday, November 9, 2022 at 8:30 a.m. Eastern Time (ET). The call will be hosted by Raymond Chang, Chief Executive Officer, and Timothy Oakes, Chief Financial Officer. All interested parties are invited to attend. The Company will report its financial results for the third quarter in advance of the call. DATE: Wednesday, November 9, 2022TIME: 8:30 a.m.
BILLERICA, Mass., July 20, 2022 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY) ("Agrify" or the "Company"), the most innovative provider of advanced cultivation and extraction solutions for the cannabis industry, today announced it will host a conference call to review its financial results for the second quarter ended June 30, 2022 on Wednesday, August 10, 2022 at 8:30 a.m. Eastern Time (ET). The call will be hosted by Raymond Chang, Chief Executive Officer, and Timothy Oakes, Chief Financial Officer. All interested parties are invited to attend. The Company will report its financial results for the second quarter in advance of the call. DATE: Wednesday, August 10, 2022TIME: 8:30 a
BILLERICA, Mass., April 27, 2022 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY) ("Agrify" or the "Company"), the most innovative provider of advanced cultivation and extraction solutions for the cannabis industry, today announced it will host a conference call to review its financial results for the first quarter ended March 31, 2022 on Wednesday, May 11, 2022 at 8:30 a.m. Eastern Time (ET). The call will be hosted by Raymond Chang, Chief Executive Officer, and Timothy Oakes, Chief Financial Officer. All interested parties are invited to attend. The Company will report its financial results for the first quarter in advance of the call. DATE: Wednesday, May 11, 2022TIME: 8:30 a.m. ET
BILLERICA, Mass., March 02, 2022 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY) ("Agrify" or the "Company"), the most innovative provider of premium cultivation and extraction solutions for the cannabis and hemp industry, today announced it will host a conference call to review its financial results for the fourth quarter and fiscal year ended December 31, 2021 on March 23, 2022 at 8:30 a.m. Eastern Time (ET). The call will be hosted by Raymond Chang, Chief Executive Officer, and Timothy Oakes, Chief Financial Officer. All interested parties are invited to attend. The Company will report its financial results for the fourth quarter and fiscal year in advance of the call. DATE: Wedne
Revenue grew 460% year-over-year and 33% sequentially to $15.8 million in Q3 2021 New bookings of $32.2 million, increasing total backlog to $117.5 million Q4 2021 bookings expected to top $100 million, Q4 2021 revenue expected to be approximately $26 million to $28 million, and full year guidance increased to $60 million to $62 million BILLERICA, Mass., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY) ("Agrify" or the "Company"), a vertically integrated provider of premium cultivation and extraction solutions for the cannabis and hemp industry, today announced financial results for the period ended September 30, 2021 ("Q3 2021"). Q3 2021 Highlights Revenue increased
BILLERICA, Mass., Oct. 27, 2021 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY) ("Agrify" or the "Company"), a vertically integrated provider of premium cultivation and extraction solutions for the cannabis and hemp industry, today announced it will host a conference call and webcast to review its financial results for the third quarter ended September 30, 2021 on November 10, 2021 at 8:00 a.m. Eastern Time (ET). The call will be hosted by Raymond Chang, Chief Executive Officer and Niv Krikov, Chief Financial Officer. All interested parties are invited to attend. The Company will report its financial results for the third quarter in advance of the call. DATE:Wednesday, November 10, 20
Acquisition Expands Agrify's Offerings into the Flourishing Post-Harvest Segment of the Supply Chain, Positioning the Company as the Most Vertically Integrated Total Solutions Provider for its Customers Transaction is Expected to Generate Approximately $40 million in Additional Revenue in 2021 and Provide Significant Future Growth Opportunities Acquisition is Projected to Nearly Double Agrify's 2021 Revenue and is Immediately Accretive with Positive Gross Margins and EBITDA Contribution Management Hosting a Conference Call on October 5 at 8:30a.m. Eastern Time BILLERICA, Mass., Oct. 04, 2021 (GLOBE NEWSWIRE) -- Agrify Corporation (NasdaqCM:AGFY) ("Agrify" or the "Company"), a developer
Revenue grew 203% year-over-year and 69% sequentially to $11.8 million in Q2 2021 New bookings were $30.7 million, bringing total backlog up to record $101.1 million BILLERICA, Mass., Aug. 12, 2021 (GLOBE NEWSWIRE) -- Agrify Corporation (NasdaqCM:AGFY) ("Agrify" or the "Company"), a developer of highly advanced and proprietary precision hardware and software cultivation solutions for the indoor agriculture marketplace, today announced financial results for the period ended June 30, 2021 ("Q2 2021"). Q2 2021 Highlights Revenue increased 203% to $11.8 million for Q2 2021 compared to $3.9 million for Q2 2020 and increased 69% sequentially from $7 million in Q1 2021New bookings wer
TROY, Mich., Feb. 05, 2025 (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 that Peter Shapiro and Sanjay Tolia have been appointed to its Board of Directors, effective January 31, 2025. The Company also announced Richard Drexler's departure from the Board, also effective January 31, 2025. "We are excited to welcome Peter and Sanjay to our Board of Directors at this critical time for our industry," said Agrify Chairman and Interim CEO Ben Kovler. "Their expertise and vision align with our commitment to shaping the future of THC consumption in Amer
Move would position Agrify to be a leader in the fast-growing, hemp-derived legal THC Beverage market Formulated by renowned winemakers Charles Bieler and Joel Gott, popular rapid growth beverage brand is currently distributed in nine states and Canada TROY, Mich., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY) ("Agrify" or the "Company"), a leading provider of solutions for the cannabis industry, today announced that it has signed a non-binding letter of intent to acquire certain assets from Double or Nothing LLC, the owner and creator of the Señorita brand of hemp-derived legal THC ("HDLT") drinks, in exchange for 530,000 shares of Agrify common stock or common sto
Combined Entity is Expected to Become the Leading Provider of CEA Products and SolutionAGRIFY Brings Industry-Leading Cultivation and Extraction Solution ServiceImmediately Realizable Financial and Operational Synergies UPLAND, Calif., April 17, 2024 (GLOBE NEWSWIRE) -- Nature's Miracle Holding Inc. (NASDAQ:NMHI) ("Nature's Miracle" or the "Company"), a leader in vertical farming technology and infrastructure, today announced it has entered into a term sheet to acquire 100% of all the outstanding shares of Agrify Corporation (NASDAQ:AGFY) ("Agrify"), a leading provider of innovative cultivation and extraction solutions. When closed, the strategic acquisition of Agrify is expected to
BILLERICA, Mass., Dec. 14, 2021 (GLOBE NEWSWIRE) -- Agrify Corporation (NASDAQ:AGFY) ("Agrify" or the "Company"), the most innovative and vertically integrated provider of premium cultivation and extraction solutions for the cannabis and hemp industry, today announced the appointment of Barry Turkanis as an independent director on its Board of Directors. Mr. Turkanis replaces Timothy Oakes, who recently resigned from the Board of Directors in order to become the Company's Chief Financial Officer. Mr. Turkanis will also serve on the Board of Directors' Audit Committee as well as its Nominating and Corporate Governance Committee. "As we continue to gain momentum and mobilize for our nex