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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 18,608 $ 12,014
Restricted cash and restricted marketable securities 30,000
Marketable securities 11,323 44,550
Accounts receivable, net of allowance for doubtful accounts of $2,740 and $1,415 at June 30, 2022 and December 31, 2021, respectively 10,468 7,222
Inventory, net of reserves of $1,871 and $942 at June 30, 2022 and December 31, 2021, respectively 41,871 20,498
Prepaid and refundable taxes 210
Prepaid expenses and other current assets 5,925 2,452
Total current assets 118,405 86,736
Loan receivable, net of allowance for doubtful accounts of $7,079 and $0 at June 30, 2022 and December 31, 2021, respectively 35,090 22,255
Property and equipment, net 11,932 6,232
Right-of-use assets, net 2,866 1,479
Goodwill 50,090
Intangible assets, net 14,072
Other non-current assets 2,920 1,184
Total assets 171,213 182,048
Current liabilities:    
Accounts payable 4,157 9,151
Accrued expenses and other current liabilities 27,456 28,764
Operating lease liabilities, current 1,084 814
Long-term debt, current 4,079 1,089
Deferred revenue 3,753 3,772
Total current liabilities 40,529 43,590
Warrant liabilities 9,530
Other non-current liabilities 236 318
Operating lease liabilities, non-current 1,908 704
Long-term debt 35,788 12
Total liabilities 87,991 44,624
Commitments and contingencies (Note 18)
Stockholders’ equity:    
Common Stock, $0.001 par value per share, 250,000 shares authorized, 132,957 and 111,035 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively (1) [1]
Preferred Stock, $0.001 par value per share, 2,895,000 shares authorized, no shares issued or outstanding
Preferred A Stock, $0.001 par value per share, 105,000 shares authorized, no shares issued or outstanding
Additional paid-in capital [1] 214,652 196,034
Accumulated deficit (131,799) (58,975)
Total stockholders’ equity attributable to Agrify 82,853 137,059
Non-controlling interests 369 365
Total liabilities and stockholders’ equity $ 171,213 $ 182,048
[1] Periods presented have been adjusted to reflect the 1-for-10 reverse stock split on October 18, 2022 and the 1-for-20 reverse stock split on July 5, 2023. Additional information regarding the reverse stock splits may be found in Note 1 – Overview, Basis of Presentation and Significant Accounting Policies, included elsewhere in the notes to the condensed consolidated financial statements.