AGFY - Cannabis Co. Agrify Expects To Shrink Net Loss Expand Gross Profit In Q4 | Benzinga
Ancillary cannabis company Agrify Corporation (NASDAQ:AGFY) announced its preliminary unaudited fourth-quarter financial results on Wednesday.
Q4 2023 Financial Outlook
- Net loss is expected to be at $750 000, compared to $2.1 million net loss in the third quarter of 2023, and $58 million loss in the fourth quarter of 2022.
- Loss from operations is expected to decrease by 46% to a historical low of $2.5 million, compared to $4.6 million in the third quarter of 2023.
- Gross profit is expected to increase 105% to $1.9 million, compared to $1 million in the prior period, and a gross loss of $33.5 million in the corresponding quarter of last fiscal year.
- Net cash burn is also expected to be the "lowest in the ...