Cannabis Co. Agrify Expects To Shrink Net Loss, Expand Gross Profit In Q4
Portfolio Pulse from Jelena Martinovic
Agrify Corporation (NASDAQ:AGFY) announced its preliminary unaudited Q4 financial results, expecting a reduced net loss of $750,000 from $2.1 million in Q3 and a gross profit increase of 105% to $1.9 million. The company anticipates the lowest net cash burn in its history and aims for cashflow break-even in the second half of 2024. Agrify's shares rose 1.58% in pre-market trading.
February 21, 2024 | 2:18 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Agrify Corporation expects a significant reduction in net loss and a substantial increase in gross profit for Q4, with shares rising 1.58% in pre-market trading.
The expected reduction in net loss and increase in gross profit for Q4 2023 indicate a strong financial improvement for Agrify, which is likely to positively impact investor sentiment and stock price in the short term. The pre-market share price increase further supports this positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100