Agrify Corp Stock Price, News & Analysis

Agrify Corporation (AGFY) announced a $50 million acquisition of Precision Extraction Solutions and Cascade Sciences, enhancing its position in the cannabis industry. This transaction includes $30 million in cash and $20 million in Agrify common stock, with the potential total reaching $65 million based on performance in 2021. This strategic move aims to expand Agrify’s market share, accessing a growing $24 billion cannabis extract vertical by 2028, and is expected to nearly double its annual revenue.

Agrify Corporation (NasdaqCM:AGFY) has announced the acquisition of Precision Extraction Solutions and Cascade Sciences, expanding its role in the cannabis and hemp supply chain. The transaction, valued at $50 million, is projected to generate approximately $40 million in additional revenue in 2021, nearly doubling Agrify's revenue. With access to a growing market expected to reach $24 billion by 2028, Agrify aims to leverage new synergies and enhance its customer base by 50%. The acquisition is immediately accretive with positive EBITDA contributions.

Agrify Corporation (AGFY) reported impressive financial results for Q2 2021, with revenue soaring 203% year-over-year to $11.8 million, and a 69% sequential increase. The company achieved record bookings of $30.7 million and a total backlog of $101.1 million. Notable partnerships were formed, including a deal with Bud & Mary's, projected to generate $28 million annually. Management is optimistic, raising revenue guidance to $48-$50 million for the full year, driven by strategic expansion and new technology deployment.

Agrify Corporation has signed a definitive agreement with True House Cannabis LLC to install 159 vertical farming units at a 22,000 square foot facility in Haverhill, MA. The project, estimated to generate over $45.3 million in revenue over the next 10 years, includes a $7 million financing arrangement for construction. The partnership aims to promote social equity in the cannabis industry and support THC’s goal of producing premium cannabis products. Agrify's comprehensive services will enhance THC's operations and growth potential.

Agrify Corporation (NasdaqCM:AGFY) announced it will host a conference call on August 12, 2021, at 5:00 p.m. ET, to discuss its financial results for the second quarter ending June 30, 2021. The call will be led by CEO Raymond Chang and CFO Niv Krikov. Interested parties can join the call using the dial-in number (844) 792-4409 and conference ID 1493498. A replay will be available until 8:00 p.m. ET on August 15, 2021. Agrify specializes in precision hardware and software solutions for indoor agriculture.

Agrify Corporation (NasdaqCM:AGFY) has launched Agrify University, a new 3,500 sq. ft. indoor vertical farming facility aimed at enhancing cannabis cultivation for its customers. Located in Billerica, MA, the university offers hands-on training and uses advanced cultivation methods and proprietary technology. Led by Chief Science Officer David Kessler, the program is designed to empower growers with essential knowledge and skills by utilizing data-driven techniques for better quality and yield. Classes are available to all customers starting now.

Agrify Corporation (NasdaqCM:AGFY) has received a cultivation and production license for industrial hemp from Massachusetts, allowing the company to grow up to 3,000 plants annually at its new facility in Billerica. Operations are set to commence in August 2021, focusing on optimizing chemical metabolite production and improving biomass. The facility showcases Agrify's Vertical Farming Units, emphasizing enhanced quality and yield for hemp cultivation. The site will also serve as a research and training center for clients to experience Agrify's advanced technology.

Agrify Corporation (AGFY) has entered a definitive Collaboration Agreement with Curaleaf Holdings to conduct research on environmental impact on cannabis cultivation. This partnership aims to analyze how Agrify’s Vertical Farming Units and Agrify Insights™ software can enhance plant health, harvest yields, and terpene profiles over three years at Curaleaf’s Massachusetts facility. Both companies will jointly own the test data, furthering advancements in optimized cannabis production and contributing to a cost-effective cultivation approach.

Agrify Corporation (NasdaqCM:AGFY) announced a $12 million contract with Nevada Holistic Medicine LLC for the construction of a 12,400 square foot cultivation facility. The deal includes the installation of 140 Vertical Farming Units and five years of SaaS revenue from the Agrify Insights™ platform. This agreement strengthens Agrify’s position in the growing Nevada market, expected to thrive due to rising consumer demand. CEO Raymond Chang emphasized the importance of data-driven cultivation solutions in maximizing yields and product quality.