XML 17 R7.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss attributable to Agrify Corporation $ (38) $ (10,327)
Adjustments to reconcile net loss attributable to Agrify Corporation to net cash used in operating activities:    
Depreciation and amortization 406 445
Amortization of debt (premium) discount 147
Amortization of issuance costs 24
Amortization of right of use assets 152 (133)
Stock based compensation expense 490 859
Change in fair value of warrant liabilities (873) (2,672)
Loss on extinguishment of long-term debt, net 4,620
Provision for credit losses 642
Recovery of provision for credit losses (330)
Recovery of provision for slow-moving inventory (415)
Loss on disposal of property and equipment 2
Gain on supply agreement (1,142)
Gain on revaluation of contingent liability (564)
Change in accrued acquisition liabilities due to issuance of held-back shares (2,180)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 296 (127)
Inventory 1,211 1,401
Prepaid expenses and other current assets 2,321 (31)
Other non-current assets 42 173
Accounts payable (2,361) 585
Accrued expenses and other current liabilities (268) (3,744)
Operating lease liabilities (143) 184
Deferred revenue (235) (873)
Net cash and cash equivalents used in operating activities (2,987) (9,469)
Cash flows from investing activities:    
Purchases of property and equipment (2) (59)
Proceeds from sale of marketable securities 10,446
Proceeds from repayment of loan receivable 330
Issuance of loans receivable (592)
Net cash and cash equivalents provided by investing activities 328 9,795
Cash flows from financing activities:    
Proceeds from Issuance of Common Stock through an “S-1 and Prefunded Warrants” offering 2,123
Proceeds from issuance of Common Stock through an “at the market” offering, net of fees 1,478
Proceeds from Employee Stock Purchase Plan Shares 25
Proceeds from exercise of S-1 Prefunded Warrants 3
Proceeds from issuance of related party notes 355
Repayments of notes payable, other (71)
Repayment of debt in private placement (10,307)
Payments on other financing loans (1)
Payments on insurance financing loans (157) (396)
Payments of financing leases (35)
Net cash and cash equivalents provided by (used in) financing activities 2,324 (9,307)
Net decrease in cash and cash equivalents (335) (8,981)
Cash and cash equivalents at the beginning of period 430 10,457
Cash and cash equivalents at the end of period 95 1,476
Supplemental disclosures    
Cash paid for interest 47
Supplemental disclosures of non-cash flow information    
Cashless exercise of High-Trail warrants 3
Financing of prepaid insurance 17 1,820
Trade payables refinanced into consolidated notes payable 4,838
Accrued interest consolidated into related party debt 364
Contribution from troubled debt restructuring with related party 676
Consolidation of related party debt principal 3,799
Conversion of convertible notes $ 1,731