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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 95 $ 430
Marketable securities 4 4
Accounts receivable, net of allowance for credit losses of $2,512 and $1,887 at March 31, 2024 and December 31, 2023, respectively 211 1,149
Inventory, net of reserves of $17,184 and $17,599 at March 31, 2024 and December 31, 2023, respectively 18,862 19,094
Loan receivable, current 692
Prepaid expenses and other current assets 1,028 3,332
Total current assets 20,892 24,009
Loan receivable, net of allowance for credit losses of $18,885 and $19,215 at March 31, 2024 and December 31, 2023, respectively, net of current 10,891 11,583
Property and equipment, net 7,328 7,734
Operating lease right-of-use assets 1,651 1,803
Other non-current assets 99 141
Total assets 40,861 45,270
Current liabilities:    
Accounts payable 12,428 20,766
Accrued expenses and other current liabilities 7,843 10,655
Operating lease liabilities, current 615 599
Notes payable, current 1,374
Long-term debt, current 696 766
Deferred revenue 3,784 4,019
Total current liabilities 27,740 41,249
Warrant liabilities 417 1,290
Operating lease liabilities, net of current 1,235 1,394
Notes payable, net of current 3,464
Long-term debt, net of current 47 16,047
Total liabilities 50,586 59,980
Commitments and contingencies (Note 14)
Stockholders’ deficit:    
Common Stock, $0.001 par value per share, 35,000,000 and 10,000,000 shares authorized at March 31, 2024 and December 31, 2023, respectively, 13,275,702 and 1,702,243 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively [1] 13 2
Preferred stock value
Additional paid-in capital 255,867 250,855
Accumulated deficit (265,835) (265,797)
Total stockholders’ deficit attributable to Agrify (9,955) (14,940)
Non-controlling interests 230 230
Total liabilities and stockholders’ deficit 40,861 45,270
Related Party    
Current liabilities:    
Related party debt, current 1,000 4,444
Related party debt, net of current 17,683
Preferred A Stock    
Stockholders’ deficit:    
Preferred stock value
[1] Periods presented have been adjusted to reflect 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 in the notes to the consolidated financial statements