Every 10-Q that Agrify Corporation (AGFY) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AGFY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AGFY filings page.
RYTHM, Inc. reported a sharp turnaround in the quarter ended March 31, 2026 as it executed its shift from cannabis equipment to hemp-derived THC brands and licensing. Revenue from continuing operations rose to $13.3 million from $0.5 million a year earlier, driven mainly by $10.0 million of licensing revenue and $3.3 million of product sales.
The company posted net income of $19.9 million versus a prior-year loss, largely due to a $25.6 million income tax benefit from releasing a valuation allowance after amending its Green Thumb license to a fixed-fee structure. That amendment entitles RYTHM to $70 million per year of fixed license payments, recognized ratably over the term.
Cash and cash equivalents were $33.3 million, and operating activities generated $1.0 million of cash. Total assets reached $127.5 million and stockholders’ equity increased to $36.6 million. The balance sheet also shows $80.6 million of debt, including $72.0 million of related-party convertible notes classified as current, and the business is highly concentrated in a related-party customer that represented 75% of Q1 revenue.
RYTHM, Inc. reported third‑quarter 2025 results reflecting its shift to hemp-derived THC brands and licensing. Revenue from continuing operations was $4.043 million, producing gross profit of $1.375 million. Operating loss from continuing operations was $8.888 million, and net loss totaled $10.665 million.
The company completed brand IP deals in 2025, acquiring MC Brands for $5.1 million and VCP brand rights for $50.0 million, expanding the RYTHM, incredibles, Dogwalkers, Beboe, &Shine, Doctor Solomon’s, and Good Green portfolio. Discontinued operations include the prior Extraction and Cultivation businesses, with a $3.534 million gain on the Extraction exit year‑to‑date.
RYTHM ended the quarter with $35.573 million in cash and cash equivalents and reported $61.497 million of intangible assets. Convertible notes and other borrowings totaled scheduled principal of $90.621 million, including $82.0 million related‑party notes. Stockholders’ equity was $11.722 million. The company changed its name and Nasdaq ticker to RYM effective September 2025.
Agrify (AGFY) Q2-25 10-Q highlights
- Pivot completed: cultivation and extraction lines are now in discontinued ops; focus shifts to hemp-derived THC beverages after acquiring MC Brands for $5.1 m and Double or Nothing in 2024.
- First meaningful sales: continuing-ops revenue reached $2.0 m (0 in Q2-24); 6-mo revenue $2.6 m, 87% from product, 13% royalties. Gross margin ~33% (Q2 GP $0.68 m).
- Losses persist: Q2 operating loss $(6.8) m; net loss $(7.4) m or $(3.74) per basic share. YTD net loss $(9.0) m.
- Cash vs. burn: Cash rose to $41.0 m (from $31.2 m) on $30 m of May-25 convertible notes; operating cash burn was $(15.1) m H1.
- Leverage & dilution: Related-party debt jumped to $37 m; notes convert at $23.53 or into prefunded warrants, carrying 10% interest (also payable in warrants). Total liabilities nearly doubled to $48.5 m.
- Equity erosion: Stockholders’ equity fell to $21.0 m (-25% YTD) on continuing losses and warrant-driven dilution; shares outstanding 2.0 m post 1-for-15 split.
- Compliance restored: Equity raise and reverse split brought company back in line with Nasdaq requirements.
Radar: success now hinges on scaling beverage distribution, containing SG&A ($7.5 m in Q2) and managing high-cost related-party financing.