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Business Combination (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combination (Tables) [Line Items] |
Schedule of unaudited pro forma financial information |
|  | Year ended December 31, |
(Dollar Amounts in Thousands) |  | 2021 |  |  | 2020 |
Revenue, net |  | $ | 90,821 |  |  | $ | 52,723 |
Net loss before non-controlling interest |  |  | (35,783 | ) |  |  | (25,571 | )
Income (loss) attributable to non-controlling interest |  |  | 140 |  |  |  | (22 | )
Net loss |  | $ | (35,923 | ) |  | $ | (25,549 | )
|  | Year ended December 31, |
(Dollar Amounts in Thousands) |  | 2020 |
Revenue, net |  | $ | 12,121 |
Net loss before non-controlling interest |  | $ | (22,743 | )
Loss attributable to non-controlling interest |  |  | 65 |
Net loss |  | $ | (22,678 | )
Precision and Cascade [Member] |
Business Combination (Tables) [Line Items] |
Schedule of components and the allocation of the purchase price |
(Dollar Amounts in Thousands) |  |
Purchase price consideration: |  |
Cash paid to Sinclair Members at close |  | $ | 23,000 |
Cash contributed to escrow accounts at close |  |  | 7,000 |
Cash paid for excess net working capital |  |  | 1,430 |
Stock issued at close |  |  | 14,535 |
Fair value of contingent consideration to be achieved |  |  | 3,953 |
Fair value of total consideration transferred |  |  | 49,918 |
Total purchase price, net of cash acquired |  | $ | 48,630 |
Fair value allocation of purchase price: |  |  |  |
Cash and cash equivalents |  | $ | 1,288 |
Accounts receivable |  |  | 897 |
Inventory |  |  | 6,761 |
Prepaid and other assets |  |  | 1,736 |
Property and equipment, net |  |  | 970 |
Operating lease right of use assets |  |  | 730 |
Capitalized web costs, net |  |  | 2 |
Accounts payable and accrued expenses |  |  | (9,196 | )
Deferred revenue |  |  | (5,419 | )
Long-term debt |  |  | (1,961 | )
Operating lease liabilities, current |  |  | (392 | )
Operating lease liabilities, noncurrent |  |  | (362 | )
Acquired intangible assets |  |  | 9,889 |
Goodwill |  |  | 44,975 |
Total purchase price |  | $ | 49,918 |
PurePressure [Member] |
Business Combination (Tables) [Line Items] |
Schedule of components and the allocation of the purchase price |
(Dollar Amounts in Thousands) |  |
Purchase price consideration: |  |
Estimated closing proceeds |  | $ | 3,613 |
Indebtedness paid |  |  | 320 |
Transaction expenses |  |  | 115 |
Closing buyer shares |  |  | 2,211 |
Holdback buyer shares |  |  | 654 |
Earn-out consideration |  |  | 707 |
Estimated working capital adjustments |  |  | 330 |
Fair value of total consideration transferred |  |  | 7,950 |
Total purchase price, net of cash acquired |  | $ | 7,647 |
Fair value allocation of purchase price: |  |  |  |
Cash and cash equivalents |  | $ | 303 |
Accounts receivable, net |  |  | 48 |
Inventory |  |  | 1,537 |
Property and equipment, net |  |  | 219 |
Right of use assets, net |  |  | 191 |
Prepaid expenses and other receivables |  |  | 61 |
Other non-current assets |  |  | 16 |
Accounts payable and accrued expenses |  |  | (706 | )
Deferred revenue |  |  | (762 | )
Operating lease liabilities, current |  |  | (117 | )
Operating lease liabilities, noncurrent |  |  | (74 | )
Finance lease liabilities, current |  |  | (4 | )
Finance lease liabilities, noncurrent |  |  | (10 | )
Notes payable, current |  |  | (260 | )
Notes payable, noncurrent |  |  | (12 | )
Acquired intangible assets |  |  | 3,037 |
Goodwill |  |  | 4,483 |
Total purchase price |  | $ | 7,950 |
TriGrow [Member] |
Business Combination (Tables) [Line Items] |
Schedule of components and the allocation of the purchase price |
(Dollar Amounts in Thousands) |  |  |
Components of Purchase Price: |  |  |
Obligation to invest cash in profit interest |  | $ | 1,140 |
Capital stock consideration |  |  | 1,356 |
Noncontrolling Interest |  |  | 207 |
Total purchase price |  | $ | 2,703 |
Allocation of Purchase Price: |  |  |  |
Net tangible assets, including cash acquired of $44 |  | $ | 543 |
Identifiable intangible assets: |  |  |  |
Brand rights |  |  | 930 |
Customer relationships |  |  | 850 |
Total identifiable intangible assets |  |  | 1,780 |
Goodwill |  |  | 380 |
Total purchase price allocation |  | $ | 2,703 |
Harbor Mountain Holdings, LLC [Member] |
Business Combination (Tables) [Line Items] |
Schedule of components and the allocation of the purchase price |
(Dollar Amounts in Thousands) |  |  |
Components of Purchase Price: |  |  |
Waiver of net receivable owed to Agrify |  | $ | 214 |
Total purchase price |  | $ | 214 |
Allocation of Purchase Price: |  |  |  |
Net tangible assets (liabilities): |  |  |  |
Cash |  | $ | 4 |
Property and Equipment |  |  | 817 |
Accounts payable |  |  | (187 | )
Accrued expenses |  |  | (23 | )
Financing lease liabilities |  |  | (649 | )
Net tangible liabilities |  |  | (38 | )
Goodwill |  |  | 252 |
Total purchase price allocation |  | $ | 214 |
Precision and Cascade [Member] |
Business Combination (Tables) [Line Items] |
Schedule of unaudited pro forma condensed combined financial statements |
(Dollar Amounts in Thousands) |  | Asset Value |  | Useful Life
Identified intangible assets: |  |  |  |
Trade names |  | $ | 1,260 |  | 6 to 7 years
Acquired developed technology |  |  | 3,818 |  | 5 years
Non-compete agreements |  |  | 1,202 |  | 5 years
Customer relationships |  |  | 3,609 |  | 7 to 8 years
Total identified intangible assets |  | $ | 9,889 |  |
(Dollar Amounts in Thousands) |  | Asset Value |  | Useful Life
Identified intangible assets: |  |  |  |
Trade name |  | $ | 227 |  | 5 years
Acquired developed technology |  |  | 1,093 |  | 8 years
Customer relationships |  |  | 1,717 |  | 5 years
Total identified intangible assets |  | $ | 3,037 |  |

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