XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss attributable to Agrify Corporation $ (8,882) $ (3,810)
Adjustments to reconcile net loss attributable to Agrify Corporation to net cash used in operating activities:    
Depreciation and amortization 1,052 147
Amortization of premium on investment securities 224
Amortization of debt discount 20
Interest on investment securities (248)
Debt issuance costs 2,700
Deferred income taxes (200)
Compensation in connection with the issuance of stock options 953 2,135
Non-cash interest (income) expense (406) 33
Gain on extinguishment of notes payable, net (2,685)
Early termination of lease 26
Income (loss) attributable to non-controlling interests 1 (33)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (838) (5,218)
Inventory (16,361) (3,330)
Prepaid expenses and other current assets (3,033) (2,155)
Right of use assets, net (20)
Other non-current assets (1,867)
Accounts payable (2,765) 181
Accrued expenses and other current liabilities (2,120) 7,360
Deferred (expense) revenue, net (2,407) 96
Net cash used in operating activities (34,171) (7,279)
Cash flows from investing activities    
Purchases of property and equipment (3,728) (142)
Purchase of securities (76,097)
Proceeds from the sale of securities 82,460
Issuance of loan receivable (12,487)
Cash paid for business combination, net of cash acquired (3,513)
Net cash used in investing activities (13,365) (142)
Cash flows from financing activities    
Proceeds from issuance of Common Stock and warrants in private placement 65,000
Proceeds from issuance of debt and warrants in private placement, net of fees 25,797
Proceeds from IPO, net of fees 56,961
Proceeds from Secondary public offering, net of fees 79,839
Proceeds from exercise of options 10 439
Proceeds from exercise of warrants 1 5
Payments of financing leases (81) (47)
Net cash provided by financing activities 90,727 137,197
Net increase in cash, cash equivalents, and restricted cash 43,191 129,776
Cash, cash equivalents, and restricted cash at the beginning of period 12,014 8,111
Cash, cash equivalents, and restricted cash at the end of period 55,205 137,887
Cash, cash equivalents, and restricted cash at end of period    
Cash and cash equivalents 25,205 137,887
Restricted cash 30,000
Total cash, cash equivalents, and restricted cash at the end of period $ 55,205 $ 137,887