XML 12 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 53 $ 430
Marketable securities 4 4
Accounts receivable, net of allowance for credit losses of $2,563 and $1,887 at June 30, 2024 and December 31, 2023, respectively 272 1,149
Inventory, net of reserves of $16,507 and $17,599 at June 30, 2024 and December 31, 2023, respectively 18,427 19,094
Loans receivable, current 1,295
Prepaid expenses and other current assets 663 3,332
Total current assets 20,714 24,009
Loans receivable, net of allowance for credit losses of $18,885 and $19,215 at June 30, 2024 and December 31, 2023, respectively, net of current 10,288 11,583
Property and equipment, net 6,954 7,734
Operating lease right-of-use assets 1,333 1,803
Other non-current assets 97 141
Total assets 39,386 45,270
Current liabilities:    
Accounts payable 12,038 20,766
Accrued expenses and other current liabilities 7,410 10,655
Operating lease liabilities, current 539 599
Long-term debt, current 582 766
Contract liabilities 3,847 4,019
Total current liabilities 25,148 41,249
Warrant liabilities 503 1,290
Operating lease liabilities, net of current 960 1,394
Long-term debt, net of current 3 16,047
Total liabilities 30,892 59,980
Commitments and contingencies (Note 14)
Stockholders’ equity (deficit):    
Common Stock, $0.001 par value per share, 35,000,000 and 10,000,000 shares authorized at June 30, 2024 and December 31, 2023, respectively, 14,230,004 and 1,701,243 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively [1] 14 2
Preferred stock value
Additional paid-in capital 272,783 250,855
Accumulated deficit (264,533) (265,797)
Total stockholders’ equity (deficit) attributable to Agrify 8,264 (14,940)
Non-controlling interests 230 230
Total stockholders’ equity (deficit) 8,494 (14,710)
Total liabilities and stockholders’ equity (deficit) 39,386 45,270
Related Party    
Current liabilities:    
Related party debt, current 732 4,444
Related party debt, net of current 4,278
Preferred A Stock    
Stockholders’ equity (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