Agrify Corp Financials
Agrify Corp (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).
FY2025 shows gross margin recovery, but overhead still dwarfs gross profit, making scale the main constraint.
Between FY2023 and FY2025, gross margin rose from26.5% to59.0% while revenue only moved from$15.1M to$17.3M ; that points to unit economics improving faster than demand. The remaining drag is fixed overhead: FY2025 SG&A of$34.1M was more than triple gross profit of$10.2M , so better product mix or cost of sales did not yet create an operating model sized for current volume.
Cash of
The balance sheet is less strained than in FY2023 because equity turned positive at
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 Corp'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.
Not available for Agrify Corp, and counted as zero in the overall score.
Agrify Corp 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 Corp 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 Corp 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 Corp 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 Corp generated $17.3M in revenue in fiscal year 2025. This represents an increase of 95916.7% from the prior year.
Agrify Corp's EBITDA was -$26.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 616.9% from the prior year.
Agrify Corp reported -$33.3M in net income in fiscal year 2025. This represents an increase of 20.3% from the prior year.
Cash & Balance Sheet
Agrify Corp held $32.2M in cash against $5.0M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Agrify Corp's gross margin was 59.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. No change is given against fiscal year 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Agrify Corp's ROE was -255.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 106.8 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
AGFY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $13.3M+24.6% | $10.7M+163.7% | $4.0M+98.0% | $2.0M+279.6% | $538K | N/A | $1.9M-35.4% | $3.0M |
| Cost of Revenue | $2.9M+10.4% | $2.6M-1.9% | $2.7M+96.2% | $1.4M+203.6% | $448K | N/A | $1.7M-8.5% | $1.9M |
| Gross Profit | $10.4M+29.3% | $8.0M+484.9% | $1.4M+101.6% | $682K+657.8% | $90K | N/A | $225K-80.0% | $1.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | $168K-9.2% | $185K |
| SG&A Expenses | $14.4M+15.3% | $12.5M+22.0% | $10.3M+37.2% | $7.5M+97.3% | $3.8M | N/A | $1.2M+80.2% | $677K |
| Operating Income | -$4.0M+68.8% | -$12.9M-45.7% | -$8.9M-30.7% | -$6.8M-83.7% | -$3.7M | N/A | -$1.2M-43.0% | -$853K |
| Interest Expense | N/A | $1.9M+35.9% | $1.4M+155.5% | $548K+119.2% | $250K | N/A | $0 | $0 |
| Income Tax | -$25.6M | N/A | N/A | N/A | N/A | N/A | -$150K-2900.0% | -$5K |
| Net Income | $19.9M+246.4% | -$13.6M-27.6% | -$10.7M-44.9% | -$7.4M-352.6% | -$1.6M | N/A | -$18.7M-527.6% | -$3.0M |
| EPS (Diluted) | $1.33 | N/A | -$5.33-42.5% | -$3.74-350.6% | -$0.83 | N/A | -$17.28 | -$3.16 |
AGFY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $127.5M+19.5% | $106.7M-7.4% | $115.2M+65.8% | $69.5M+52.3% | $45.6M-15.5% | $54.0M+38.7% | $39.0M-1.1% | $39.4M |
| Current Assets | $46.3M-2.7% | $47.5M+8.3% | $43.9M-5.3% | $46.4M+70.6% | $27.2M-21.7% | $34.7M+67.0% | $20.8M+0.3% | $20.7M |
| Cash & Equivalents | $33.3M+3.4% | $32.2M-9.5% | $35.6M-13.1% | $41.0M+67.5% | $24.4M-21.6% | $31.2M+11751.7% | $263K+396.2% | $53K |
| Inventory | $3.1M-24.3% | $4.0M-12.4% | $4.6M+109.1% | $2.2M+199.3% | $738K+47.6% | $500K-97.2% | $18.1M-1.9% | $18.4M |
| Accounts Receivable | $8.4M-10.3% | $9.3M+261.0% | $2.6M+64.2% | $1.6M+312.6% | $381K+1170.0% | $30K-90.9% | $328K+20.6% | $272K |
| Goodwill | $9.7M0.0% | $9.7M0.0% | $9.7M0.0% | $9.7M0.0% | $9.7M0.0% | $9.7M | N/A | N/A |
| Total Liabilities | $90.9M-2.9% | $93.7M-9.5% | $103.4M+113.2% | $48.5M+158.0% | $18.8M-27.5% | $25.9M-22.6% | $33.5M+8.4% | $30.9M |
| Current Liabilities | $90.4M+110.3% | $43.0M+94.7% | $22.1M+25.8% | $17.5M-3.7% | $18.2M-26.2% | $24.7M-11.1% | $27.8M+10.4% | $25.1M |
| Long-Term Debt | $80.6M+1512.4% | $5.0M-37.5% | $8.0M-80.3% | $40.6M+282.7% | $10.6M+1061400.0% | $1K-100.0% | $6.2M+35.9% | $4.6M |
| Total Equity | $36.6M+180.9% | $13.0M+11.1% | $11.7M-44.1% | $21.0M-21.8% | $26.8M-4.5% | $28.1M+414.7% | $5.5M-35.8% | $8.5M |
| Retained Earnings | -$320.9M+5.8% | -$340.8M-4.2% | -$327.2M-3.4% | -$316.5M-2.4% | -$309.2M-0.6% | -$307.3M-8.5% | -$283.2M-7.1% | -$264.5M |
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.
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.0M+134.6% | -$3.0M+43.9% | -$5.4M+36.1% | -$8.4M-25.3% | -$6.7M-26.0% | -$5.3M-271.9% | -$1.4M+21.6% | -$1.8M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $2K |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$1.8M |
| Investing Cash Flow | N/A | $0+100.0% | -$50.0M | N/A | N/A | -$394K-9950.0% | $4K-50.0% | $8K |
| Financing Cash Flow | N/A | -$337K-100.7% | $50.0M+66.7% | $30.0M+3000100.0% | -$1K-100.0% | $36.6M+2133.5% | $1.6M-7.8% | $1.8M |
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.
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.3%+2.8pp | 75.4%+41.4pp | 34.0%+0.6pp | 33.4%+16.7pp | 16.7% | N/A | 11.6%-26.0pp | 37.6% |
| Operating Margin | -30.4% | -121.5% | -219.8% | -332.9% | -687.9% | N/A | -63.1%-34.6pp | -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%+159.0pp | -104.5%-13.5pp | -91.0%-55.9pp | -35.1%-29.1pp | -6.1% | N/A | -341.8%-306.8pp | -35.0% |
| Return on Assets | 15.6%+28.4pp | -12.8%-3.5pp | -9.3%+1.3pp | -10.6%-7.0pp | -3.6% | N/A | -47.9%-40.3pp | -7.5% |
| Current Ratio | 0.51-0.6x | 1.11-0.9x | 1.99-0.7x | 2.64+1.2x | 1.49+0.1x | 1.41+0.7x | 0.75-0.1x | 0.82 |
| Debt-to-Equity | 2.20+1.8x | 0.38-0.3x | 0.68-1.3x | 1.94+1.5x | 0.40+0.4x | 0.00-1.1x | 1.13+0.6x | 0.54 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -61.2% |
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.
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Where Agrify Corp Ranks
Frequently Asked Questions
What is Agrify Corp's annual revenue?
Agrify Corp (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 Corp's revenue growing?
Agrify Corp (AGFY) revenue grew by 95916.7% year-over-year, from $18K to $17.3M in fiscal year 2025.
Is Agrify Corp profitable?
No, Agrify Corp (AGFY) reported a net income of -$33.3M in fiscal year 2025.
What is Agrify Corp's EBITDA?
Agrify Corp (AGFY) had EBITDA of -$26.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Agrify Corp have?
As of fiscal year 2025, Agrify Corp (AGFY) had $32.2M in cash and equivalents against $5.0M in long-term debt.
What is Agrify Corp's gross margin?
Agrify Corp (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 Corp's return on equity (ROE)?
Agrify Corp (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 Corp's operating cash flow?
Agrify Corp (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 Corp's total assets?
Agrify Corp (AGFY) had $106.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Agrify Corp's current ratio?
Agrify Corp (AGFY) had a current ratio of 1.11 as of fiscal year 2025, which is considered adequate.
What is Agrify Corp's debt-to-equity ratio?
Agrify Corp (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 Corp's return on assets (ROA)?
Agrify Corp (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 Corp's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Agrify Corp (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 Corp's Altman Z-Score?
Agrify Corp (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 Corp's Piotroski F-Score?
Agrify Corp (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 Corp's earnings high quality?
Agrify Corp (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 Corp cover its interest payments?
Agrify Corp (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 Corp?
Agrify Corp (AGFY) scores 30 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.