Agrify Corp rises on higher Q2 revenue
15/08/2022 13:40
** Shares of indoor agriculture marketplace services
provider Agrify Corp AGFY.O up 5% at $1.68 before the bell
** Company's Q2 revenue rose 63.5% to $19.3 mln urn:newsml:reuters.com:*:nASA03LMT
** However, Q2 net loss widens to $93.4 mln, or $3.51 per
share, from $5.6 mln, or 28 cents per share, a year earlier
** Company says it is revising its forecast for full-year
2022 due to downturn in cannabis industry urn:newsml:reuters.com:*:nGNX7r6S9M
** AGFY now expects 2022 total revenue between $70 mln and
$75 mln, from prior forecast of $140 mln-$142 mln
** Up to Friday's close, stock had fallen ~83% this year
(Reporting by Ananya Mariam Rajesh in Bengaluru)
((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))