Agrify Corporation (AGFY) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AGFY SEC filings page.
Agrify Corporation (AGFY) reported $30.0M in revenue over the twelve months to Mar 31, 2026. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
RYTHM’s margin recovery has not fixed the business model: overhead and financing needs still outweigh operating cash generation.
Gross margin expanded sharply from26.5% in FY2023 to59.0% in FY2025, yet operating margin worsened to-187.1% . That combination indicates the central problem shifted from product-level economics toward an expense base that remains too large for the revenue scale.
The company generated revenue of
RYTHM burned
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Agrify Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Agrify Corporation held $32.2M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $23.5M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Agrify Corporation scores 41/100 among other emerging companies.
Agrify Corporation had 2M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Agrify Corporation scores 45/100 among other emerging companies.
Not available for Agrify Corporation, and counted as zero in the overall score.
Agrify Corporation reported revenue of $17.3M in fiscal year 2025, against $18K in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Agrify Corporation scores 51/100 among other emerging companies.
Agrify Corporation's operations used $23.5M of cash in fiscal year 2025, against $11.6M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Agrify Corporation scores 58/100 among other emerging companies.
Agrify Corporation's cash, cash equivalents and investments came to $32.2M at the end of fiscal year 2025, against $93.7M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Agrify Corporation scores 36/100 among other emerging companies.
Agrify Corporation scores -4.65, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($94.4M) relative to total liabilities ($93.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Agrify Corporation passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Agrify Corporation reported a net loss of $33.3M while operations used $23.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Agrify Corporation reported an operating loss of $32.3M against $4.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Agrify Corporation generated $13.3M in revenue in Q1 2026. This represents an increase of 2369.5% from the same quarter a year earlier. Against the prior quarter it is up 24.6%.
Agrify Corporation's EBITDA was -$591K in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 82.4% from the same quarter a year earlier.
Agrify Corporation reported $19.9M in net income in Q1 2026. This represents an increase of 1325.2% from the same quarter a year earlier. Against the prior quarter it is up 246.4%.
Cash & Balance Sheet
Agrify Corporation held $33.3M in cash against $80.6M in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Agrify Corporation's gross margin was 78.3% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is up 61.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.8 percentage points.
Agrify Corporation's operating margin was -30.4% in Q1 2026, reflecting core business profitability. No change is given against Q1 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Agrify Corporation's ROE was 54.5% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 60.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 159.0 percentage points.
Not shown for Q1 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for Q1 2026.
AGFY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $13.3M+2369.5% | $10.7M | $4.0M+109.0% | $2.0M-31.8% | $538K-79.3% | N/A | $1.9M-38.4% | $3.0M-40.9% |
| Cost of Revenue | $2.9M+544.9% | $2.6M | $2.7M+56.1% | $1.4M-27.2% | $448K-81.6% | N/A | $1.7M-21.1% | $1.9M-58.2% |
| Gross Profit | $10.4M+11452.2% | $8.0M | $1.4M+511.1% | $682K-39.5% | $90K-45.5% | N/A | $225K-76.9% | $1.1M+87.8% |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | $168K-65.4% | $185K-71.2% |
| SG&A Expenses | $14.4M+280.7% | $12.5M | $10.3M+741.2% | $7.5M+1004.9% | $3.8M+144.3% | N/A | $1.2M-71.8% | $677K-86.0% |
| Operating Income | -$4.0M-9.0% | -$12.9M | -$8.9M-628.5% | -$6.8M-697.0% | -$3.7M-1148.4% | N/A | -$1.2M+73.4% | -$853K+84.0% |
| EBITDA | -$591K+82.4% | N/A | N/A | N/A | -$3.4M-543.3% | N/A | -$920K+77.3% | -$453K+90.6% |
| Interest Expense | N/A | $1.9M | $1.4M | $548K | $250K | N/A | $0+100.0% | $0-100.0% |
| Income Tax | -$25.6M | N/A | N/A | N/A | N/A | N/A | -$150K+82.8% | -$5K-225.0% |
| Net Income | $19.9M+1325.2% | -$13.6M | -$10.7M+42.8% | -$7.4M-147.6% | -$1.6M-138.4% | N/A | -$18.7M-791.5% | -$3.0M+56.3% |
| EPS (Basic) | $1.53+284.3% | N/A | -$5.33+69.2% | -$3.74-18.4% | -$0.83-109.0% | N/A | -$17.28+9.1% | -$3.16+28.0% |
| EPS (Diluted) | $1.33 | N/A | -$5.33 | -$3.74 | -$0.83 | N/A | -$17.28 | -$3.16 |
| Diluted Shares (Avg) | 5M | N/A | 2M | 2M | 2M | N/A | 1M | 940,953 |
AGFY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $127.5M+179.5% | $106.7M+97.5% | $115.2M+195.6% | $69.5M+76.4% | $45.6M+12.2% | $54.0M+19.3% | $39.0M-9.6% | $39.4M-13.3% |
| Current Assets | $46.3M+70.2% | $47.5M+37.1% | $43.9M+111.3% | $46.4M+123.9% | $27.2M+31.4% | $34.7M+44.5% | $20.8M-2.1% | $20.7M-8.1% |
| Cash & Equivalents | $33.3M+36.2% | $32.2M+3.3% | $35.6M+13425.9% | $41.0M+77175.5% | $24.4M+25635.8% | $31.2M+7082.0% | $263K+70.8% | $53K-82.8% |
| Inventory | $3.1M+314.8% | $4.0M+709.0% | $4.6M-74.5% | $2.2M-88.0% | $738K-96.0% | $500K-90.0% | $18.1M+2.0% | $18.4M-1.6% |
| Accounts Receivable | $8.4M+2093.4% | $9.3M+30956.7% | $2.6M+686.9% | $1.6M+477.9% | $381K+80.6% | $30K-96.5% | $328K-72.4% | $272K-79.8% |
| Goodwill | $9.7M0.0% | $9.7M0.0% | $9.7M | $9.7M | $9.7M | $9.7M | N/A | N/A |
| Total Liabilities | $90.9M+383.7% | $93.7M+261.1% | $103.4M+208.8% | $48.5M+57.0% | $18.8M-59.2% | $25.9M-56.8% | $33.5M-47.9% | $30.9M-52.6% |
| Current Liabilities | $90.4M+396.1% | $43.0M+74.1% | $22.1M-20.5% | $17.5M-30.2% | $18.2M-31.8% | $24.7M-40.2% | $27.8M-32.9% | $25.1M-36.8% |
| Non-Current Liabilities | $592K+0.5% | $50.7M+3942.8% | $81.4M+1320.3% | $31.0M+439.1% | $589K-97.0% | $1.3M-93.3% | $5.7M-75.0% | $5.7M-77.3% |
| Long-Term Debt | $80.6M+659.5% | $5.0M+499900.0% | $8.0M+29.3% | $40.6M+792.2% | $10.6M | $1K-100.0% | $6.2M-67.4% | $4.6M-76.2% |
| Total Equity | $36.6M+36.4% | $13.0M-53.6% | $11.7M+114.8% | $21.0M+146.8% | $26.8M+592.1% | $28.1M+291.0% | $5.5M+125.4% | $8.5M+142.7% |
| Retained Earnings | -$320.9M-3.8% | -$340.8M-10.9% | -$327.2M-15.5% | -$316.5M-19.7% | -$309.2M-18.2% | -$307.3M-15.7% | -$283.2M-6.3% | -$264.5M-0.1% |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
AGFY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.0M+115.5% | -$3.0M+43.4% | -$5.4M-275.2% | -$8.4M-360.3% | -$6.7M-125.0% | -$5.3M-5.9% | -$1.4M+90.0% | -$1.8M+15.5% |
| Depreciation & Amortization | $3.4M+924.7% | N/A | N/A | N/A | $336K-17.2% | N/A | $300K-42.4% | $400K-26.7% |
| Stock-Based Compensation | $570K-3.2% | N/A | N/A | N/A | $589K+20.2% | N/A | $300K-40.0% | $100K-87.5% |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $2K+100.0% |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$1.8M+15.5% |
| Investing Cash Flow | N/A | $0+100.0% | -$50.0M-1250100.0% | N/A | N/A | -$394K-603.6% | $4K-100.0% | $8K-99.5% |
| Financing Cash Flow | N/A | -$337K-100.9% | $50.0M+2948.7% | $30.0M+1586.3% | -$1K-100.0% | $36.6M+582.0% | $1.6M+496.4% | $1.8M+414.3% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
AGFY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.3%+61.5pp | 75.4% | 34.0%+22.4pp | 33.4%-4.2pp | 16.7%+10.4pp | N/A | 11.6%-19.4pp | 37.6%+25.8pp |
| Operating Margin | -30.4% | -121.5% | -219.8% | -332.9% | -687.9% | N/A | -63.1% | -28.5% |
| Net Margin | 150.0% | -127.6% | -263.8% | -360.4% | -302.2% | N/A | -964.4% | -99.3% |
| Return on Equity | 54.5%+60.5pp | -104.5% | -91.0%+250.8pp | -35.1%-0.1pp | -6.1% | N/A | -341.8% | -35.0% |
| Return on Assets | 15.6%+19.2pp | -12.8% | -9.3%+38.6pp | -10.6%-3.0pp | -3.6%-14.0pp | N/A | -47.9%-43.0pp | -7.5%+7.4pp |
| Current Ratio | 0.51-1.0x | 1.11-0.3x | 1.99+1.2x | 2.64+1.8x | 1.49+0.7x | 1.41+0.8x | 0.75+0.2x | 0.82+0.3x |
| Debt-to-Equity | 2.20+1.8x | 0.38+0.4x | 0.68-0.5x | 1.94+1.4x | 0.40 | 0.00 | 1.13 | 0.54 |
| Asset Turnover | 0.10+0.1x | 0.10 | 0.040.0x | 0.030.0x | 0.01-0.1x | N/A | 0.050.0x | 0.080.0x |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -61.2%-18.4pp |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Agrify Corporation AGFY | FY2025 | $17.3M | -$33.3M | N/A | $94.4M | 39/100 |
| Gencor Industries, Inc. GENC | FY2025 | $115.4M | $15.7M | 13.6% | $263.1M | 69/100 |
| Huachen AI Parking Management Technology Holding Co., Ltd. HCAI | FY2025 | $6.6M | -$42.2M | N/A | $4.2M | 22/100 |
| The Manitowoc Company, Inc. MTW | FY2025 | $2.2B | $7.2M | 0.3% | $785.1M | 36/100 |
| Hydrofarm Holdings Group, Inc. HYFM | FY2025 | $134.3M | -$289.8M | N/A | $3.4M | 23/100 |
| Titan International, Inc.(Delaware) TWI | FY2025 | $1.8B | -$61.2M | -3.4% | $442.1M | 39/100 |
Where Agrify Corporation Ranks
Frequently Asked Questions
What is Agrify Corporation's annual revenue?
Agrify Corporation (AGFY) reported $17.3M in total revenue for fiscal year 2025. This represents a 95916.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Agrify Corporation's revenue growing?
Agrify Corporation (AGFY) revenue grew by 95916.7% year-over-year, from $18K to $17.3M in fiscal year 2025.
Is Agrify Corporation profitable?
No, Agrify Corporation (AGFY) reported a net income of -$33.3M in fiscal year 2025.
What is Agrify Corporation's EBITDA?
Agrify Corporation (AGFY) had EBITDA of -$26.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Agrify Corporation have?
As of fiscal year 2025, Agrify Corporation (AGFY) had $32.2M in cash and equivalents against $5.0M in long-term debt.
What is Agrify Corporation's gross margin?
Agrify Corporation (AGFY) had a gross margin of 59.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Agrify Corporation's return on equity (ROE)?
Agrify Corporation (AGFY) has a return on equity of -255.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Agrify Corporation's operating cash flow?
Agrify Corporation (AGFY) recorded an outflow of $23.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Agrify Corporation's total assets?
Agrify Corporation (AGFY) had $106.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Agrify Corporation's current ratio?
Agrify Corporation (AGFY) had a current ratio of 1.11 as of fiscal year 2025, which is considered adequate.
What is Agrify Corporation's debt-to-equity ratio?
Agrify Corporation (AGFY) had a debt-to-equity ratio of 0.38 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Agrify Corporation's return on assets (ROA)?
Agrify Corporation (AGFY) had a return on assets of -31.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Agrify Corporation's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Agrify Corporation (AGFY) held $32.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $23.5M over that year. Dividing the one by the other, the reported balance equals about 16 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Agrify Corporation's Altman Z-Score?
Agrify Corporation (AGFY) has an Altman Z-Score of -4.65, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Agrify Corporation's Piotroski F-Score?
Agrify Corporation (AGFY) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Agrify Corporation's earnings high quality?
Agrify Corporation (AGFY) reported a net loss of $33.3M while operations used $23.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Agrify Corporation cover its interest payments?
Agrify Corporation (AGFY) reported an operating loss of $32.3M against $4.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Agrify Corporation?
Agrify Corporation (AGFY) scores 39 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.