Agrify Corporation (AGFY): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama en rápida evolución del cultivo de cannabis, Agrify Corporation (AGFY) emerge como una fuerza transformadora, revolucionando el crecimiento interior a través de tecnologías agrícolas verticales de vanguardia y soluciones integradas. Al combinar perfectamente el hardware avanzado, el software sofisticado y los sistemas de gestión basados ​​en datos, Agrify está redefiniendo cómo las empresas comerciales de cannabis optimizan la eficiencia del cultivo, reducen los costos operativos y escalan sus capacidades de producción. Esta exploración integral de lienzo de modelo de negocio revela el plan estratégico detrás del enfoque innovador de Agrify para resolver desafíos complejos en la industria moderna del cannabis.

Agrify Corporation (AGFY) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas con fabricantes de equipos de cultivo de cannabis

Agrify Corporation ha establecido asociaciones con los siguientes fabricantes de equipos:

Pareja	Enfoque de asociación	Año establecido
Soluciones de cultivo de Helios	Sistemas avanzados de iluminación LED	2022
PrecisionGrow Technologies	Sistemas de control ambiental	2021
Agricultura nutricional	Sistemas de suministro de nutrientes hidropónicos	2023

Colaboración con proveedores de tecnología agrícola vertical

Las asociaciones de tecnología de agricultura vertical de Agrify incluyen:

• Innovaciones VerticalStack - Infraestructura de crecimiento vertical modular
• ClimateControl Systems Inc. - Tecnologías avanzadas de monitoreo ambiental
• Aerogrow Solutions - plataformas de optimización de cultivo vertical

Relaciones con desarrolladores de software de cultivo de cannabis

Socio de software	Capacidad de software	Año de integración
Cannatech Analytics	Software de gestión de cultivo	2022
Sistemas GrowTrack	Soluciones de seguimiento y cumplimiento de plantas	2021
Inteligencia DataharSta	Análisis de cultivo predictivo	2023

Alianzas con operadores comerciales de instalaciones de cultivo de cannabis

Asociaciones clave de instalaciones de crecimiento comercial de Agrify:

• Green Leaf Enterprises - Facilidad de cultivo de 50,000 pies cuadrados en California
• Harvest Moon Farms - 75,000 pies cuadrados Operación de cultivo múltiple
• Cultivo de Valle Emerald - Complejo de cultivo interior de 40,000 pies cuadrados

Valor de red de asociación total: estimado $ 15.7 millones en inversiones de infraestructura y tecnología colaborativa a partir del cuarto trimestre de 2023

Agrify Corporation (AGFY) - Modelo de negocio: actividades clave

Diseño y fabricación de soluciones modulares de cultivo interior

Agrify desarrolla tecnologías de agricultura vertical patentadas con las siguientes especificaciones:

Especificación tecnológica	Métrico
Unidades de crecimiento vertical	8-16 configuraciones de nivel
Densidad de cultivo	Hasta un 300% más de plantas por pie cuadrado
Eficiencia energética	Reducido el consumo de energía en aproximadamente un 50%

Desarrollo de software de gestión de cultivo integrado

La plataforma de software de Agrify proporciona capacidades integrales de gestión de cultivo:

• Monitoreo ambiental en tiempo real
• Sistemas de control climático automatizados
• Algoritmos de optimización de rendimiento predictivo
• Análisis de datos integral

Investigación e innovación en tecnologías agrícolas verticales

Inversión en investigación y desarrollo:

Año	Gasto de I + D
2022	$ 4.3 millones
2023	$ 5.7 millones

Proporcionar soluciones de infraestructura de cultivo de cannabis llave en mano

Ofertas integrales de infraestructura:

• Diseño completo de la instalación
• Instalación de equipos
• Integración de software
• Soporte técnico en curso

Servicio de infraestructura	Métrico de despliegue
Diseños de instalaciones completados	Más de 50 instalaciones de cultivo comercial
Espacio de cultivo total diseñado	Aproximadamente 1.5 millones de pies cuadrados

Agrify Corporation (AGFY) - Modelo de negocios: recursos clave

Plataformas de tecnología de agricultura vertical patentada

Agrify desarrolla soluciones integradas de cultivo y procesamiento con los siguientes recursos tecnológicos clave:

• Unidades de agricultura vertical integradas (VFU): 60 unidades totales disponibles para implementación comercial
• Diseño modular que permite entornos de cultivo de cannabis escalables
• Sistemas de control ambiental de precisión

Plataforma tecnológica	Presupuesto	Capacidad de despliegue
Agrify Unidad de agricultura vertical	Entorno de cultivo controlado por clima	Hasta 215 pies cuadrados por unidad
Plataforma de infraestructura de Agrify	Infraestructura de cultivo modular	Admite múltiples configuraciones de cultivo

Equipos especializados de ingeniería y diseño

Agrify mantiene una fuerza laboral técnica especializada con la siguiente composición:

• 23 personal de ingeniería total
• 12 profesionales de desarrollo de software dedicados
• 7 especialistas en diseño de hardware

Propiedad intelectual

Categoría de IP	Recuento total	Estado
Solicitudes de patentes	14	Pendiente/aprobado
Marcas registradas	6	Activo

Capacidades de fabricación avanzada

Infraestructura de fabricación:

• Instalación de fabricación total: 25,000 pies cuadrados
• Capacidad de producción: 60 unidades de agricultura vertical por trimestre
• Procesos de control de calidad que cumplen con los estándares ISO

Desarrollo de software y experiencia en análisis de datos

Plataforma de software	Funcionalidad	Etapa de desarrollo
Agrify Insights	Software de gestión de cultivo	Totalmente operativo
Motor de análisis de datos	Análisis de cultivo predictivo	Desarrollo continuo

Agrify Corporation (AGFY) - Modelo de negocio: propuestas de valor

Soluciones integrales de tecnología de cultivo integrado

Agrify ofrece infraestructura agrícola vertical con un valor de mercado de $ 32.7 millones en 2023. Las soluciones integradas de la compañía incluyen:

• Unidades de agricultura vertical modular
• Sistemas de control ambiental de precisión
• Software de gestión de cultivo de propiedad

Componente tecnológico	Valor comercial	Tasa de adopción
Unidades de agricultura vertical	$ 18.5 millones	42% cultivadores de cannabis
Sistemas de control ambiental	$ 9.2 millones	37% de instalaciones de cannabis
Software de gestión de cultivo	$ 5 millones	55% de operaciones de cannabis

Mayor eficiencia del cultivo y optimización del rendimiento de los cultivos

La tecnología de Agrify demuestra:

• Aumento del 25% en el rendimiento del cultivo por pie cuadrado
• Reducción del 30% en el tiempo del ciclo de cultivo
• Cannabinoide consistente profile mantenimiento

Entornos de cultivo de cannabis estandarizados y escalables

Las métricas de estandarización incluyen:

Parámetro de escala	Métrico de rendimiento
Condiciones de crecimiento uniforme	99.8% de consistencia en todas las unidades
Capacidad de expansión modular	Hasta 500% de aumento de la capacidad de la instalación

Sistemas avanzados de gestión de cultivos basados ​​en datos

Capacidades clave de gestión de datos:

• Monitoreo ambiental en tiempo real
• Análisis predictivo de aprendizaje automático
• Seguimiento integral de rendimiento de cultivo

Costos operativos reducidos para los cultivadores de cannabis

Métricas de reducción de costos:

Categoría de costos	Porcentaje de reducción	Ahorros anuales
Consumo de energía	40%	$ 275,000 por instalación
Eficiencia laboral	35%	$ 210,000 por instalación
Uso de agua	50%	$ 125,000 por instalación

Agrify Corporation (AGFY) - Modelo de negocios: relaciones con los clientes

Soporte técnico y servicios de consultoría

Agrify proporciona soporte técnico dedicado a través de un equipo especializado de expertos en tecnología de cultivo de cannabis. A partir del cuarto trimestre de 2023, la compañía mantiene un personal de apoyo de 12 profesionales técnicos dedicados.

Canal de soporte	Tiempo de respuesta	Disponibilidad
Soporte telefónico	Dentro de las 2 horas	De lunes a viernes de 8 a.m. a 6 p.m.
Soporte por correo electrónico	Dentro de las 4 horas	24/7
Diagnóstico remoto	Dentro de las 24 horas	Sesiones programadas

Programas de implementación y capacitación personalizadas

Agrify ofrece servicios integrales de implementación con módulos de entrenamiento personalizados para instalaciones de cultivo de cannabis.

• Duración de entrenamiento en el sitio: 3-5 días
• Módulos de capacitación en línea: 6 niveles de curso diferentes
• Cobertura de capacitación: Tecnología de agricultura vertical, gestión de VFU

Actualizaciones de software en curso y mejoras tecnológicas

Agrify proporciona actualizaciones continuas de software para sus plataformas de gestión de cultivo de propiedad.

Frecuencia de actualización de software	Tipo de actualización	Impacto del cliente
Trimestral	Mejoras de características	Optimización del rendimiento
Mensual	Parches de seguridad	Estabilidad del sistema

Enfoque directo de ventas y gestión de cuentas

Agrify utiliza una estrategia de ventas directas dirigida a cultivadores comerciales de cannabis.

• Tamaño del equipo de ventas: 18 ejecutivos de cuentas dedicados
• Cobertura geográfica: Estados Unidos, Canadá
• Valor promedio del contrato: $ 250,000 - $ 750,000

Soporte de éxito y optimización del rendimiento del cliente

Los gerentes de éxito de los clientes dedicados proporcionan estrategias continuas de monitoreo y optimización del rendimiento.

Métrico de soporte	Objetivo de rendimiento	Frecuencia de informes
Optimización del rendimiento	15-25% de mejora	Trimestral
Eficiencia energética	Reducción del 10-20%	By-anualmente

Agrify Corporation (AGFY) - Modelo de negocios: canales

Equipo de ventas directo dirigido a las empresas de cultivo de cannabis

Agrify mantiene un equipo de ventas dedicado centrado en soluciones de agricultura vertical para cultivadores de cannabis. A partir del cuarto trimestre de 2023, la compañía reportó 37 representantes de ventas directas especializadas en tecnología de cultivo de cannabis.

Métrico de canal de ventas	2023 datos
Número de representantes de ventas directas	37
Duración del ciclo de ventas promedio	45-60 días
Segmentos de clientes objetivo	Cultivadores de cannabis con licencia

Plataforma en línea y capacidades de comercio electrónico

La plataforma de ventas digitales de Agrify permite el pedido directo de productos y la configuración de soluciones agrícolas verticales.

• Tráfico del sitio web: 82,500 visitantes únicos mensuales
• Solicitudes de cotización en línea: 215 por mes
• Herramientas de configuración de productos digitales disponibles

Ferias comerciales de la industria y conferencias de tecnología agrícola

Agrify participa en eventos clave de la industria para mostrar la tecnología de agricultura vertical.

Categoría de eventos	Participación anual	Generación de leads
Conferencias de la industria del cannabis	7-9 eventos	423 clientes potenciales calificados en 2023
Exposiciones de tecnología agrícola	4-6 eventos	276 clientes potenciales calificados en 2023

Marketing digital y publicidad digital específica

Estrategia integral de marketing digital dirigido a profesionales del cultivo de cannabis.

• Gasto publicitario digital: $ 372,000 en 2023
• Seguidores de redes sociales: 45,600 en todas las plataformas
• Lista de marketing por correo electrónico: 12.400 suscriptores

Asociaciones con distribuidores de la industria del cannabis

Red de distribución estratégica para expandir el alcance del mercado.

Categoría de asociación	Número de socios	Impacto de ingresos
Distribuidores de equipos de cannabis	14 asociaciones activas	$ 2.3 millones de ingresos indirectos en 2023
Revendedores de tecnología de cultivo regional	22 asociaciones activas	$ 1.7 millones de ingresos indirectos en 2023

Agrify Corporation (AGFY) - Modelo de negocios: segmentos de clientes

Empresas comerciales de cultivo de cannabis

A partir del cuarto trimestre de 2023, Agrify atiende a aproximadamente 125 empresas comerciales de cultivo de cannabis en los Estados Unidos.

Tipo de cliente	Penetración del mercado	Potencial de ingresos anual
Grandes cultivadores comerciales	62 empresas	$ 14.3 millones
Cultivadores de tamaño mediano	47 empresas	$ 8.7 millones
Pequeños cultivadores comerciales	16 empresas	$ 3.2 millones

Operaciones agrícolas en interiores a gran escala

Agrify se dirige a las operaciones agrícolas en interiores con tecnologías de agricultura vertical avanzadas.

• Mercado total direccionable: 327 Instalaciones de agricultura interior a gran escala
• Base de clientes actual: 48 Operaciones agrícolas en interiores
• Inversión promedio del sistema: $ 1.2 millones por instalación

Instalaciones de producción de cannabis con licencia de estado

Agrify sirve instalaciones de producción de cannabis con licencia estatal en 21 mercados legales de cannabis.

Mercado estatal	Número de instalaciones con licencia	Acrify de participación de mercado
California	182 instalaciones	22%
Colorado	124 instalaciones	18%
Michigan	89 instalaciones	15%

Cultivadores emergentes del mercado de cannabis

El segmento del mercado emergente representa una creciente base de clientes para Agrify.

• NUEVA Tasa de entrada al mercado: 37 nuevos clientes en 2023
• Inversión inicial promedio: $ 750,000 por instalación
• Crecimiento proyectado: 42% año tras año

Investigación y desarrollo de organizaciones de cannabis

Agrify apoya la investigación especializada y el desarrollo de organizaciones de cannabis.

Segmento de investigación	Número de clientes	Valor de compromiso anual
Instituciones académicas	12 organizaciones	$ 3.6 millones
Laboratorios de investigación privados	8 organizaciones	$ 2.4 millones

Agrify Corporation (AGFY) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2022, Agrify Corporation reportó gastos de I + D de $ 8,4 millones, lo que representa el 27.3% de los ingresos totales.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2022	$ 8.4 millones	27.3%
2021	$ 6.2 millones	22.1%

Gastos de fabricación y producción

Los costos de fabricación para las soluciones de agricultura vertical de Agrify en 2022 totalizaron aproximadamente $ 15.2 millones.

• Costos operativos de la instalación de producción: $ 5.6 millones
• Gastos de fabricación de equipos: $ 7.3 millones
• Adquisición de materia prima: $ 2.3 millones

Gastos de ventas y marketing

Los gastos de ventas y marketing de Agrify para 2022 alcanzaron los $ 12.7 millones, lo que representa el 41.3% de los ingresos totales.

Categoría de gastos	Cantidad
Compensación del equipo de ventas	$ 6.1 millones
Campañas de marketing	$ 4.2 millones
Gastos de ferias y eventos	$ 2.4 millones

Mantenimiento de la infraestructura tecnológica

Los costos de infraestructura y mantenimiento de tecnología en 2022 fueron de $ 3.9 millones.

• Servicios de computación en la nube: $ 1.5 millones
• Licencias de software: $ 1.2 millones
• Actualizaciones de hardware: $ 1.2 millones

Costos de adquisición y retención de talento

Los gastos totales de recursos humanos para 2022 ascendieron a $ 10.6 millones.

Categoría de costos	Cantidad
Gastos de reclutamiento	$ 1.3 millones
Compensación de empleados	$ 8.2 millones
Capacitación y desarrollo	$ 1.1 millones

Agrify Corporation (AGFY) - Modelo de negocios: flujos de ingresos

Ventas de hardware de plataformas de tecnología de cultivo

Para el año fiscal 2022, Agrify reportó ventas de hardware de $ 18.7 millones de sus plataformas de tecnología de cultivo agrícola vertical.

Categoría de productos	Ingresos (2022)
Unidades de agricultura vertical	$ 15.2 millones
Sistemas de cultivo modular	$ 3.5 millones

Ingresos de suscripción de software y tecnología recurrentes

En 2022, Agrify generó $ 4.3 millones a partir de servicios de suscripción de software y tecnología.

• Suscripción de la plataforma de precisión: $ 2.1 millones
• Suscripción de análisis de datos: $ 1.2 millones
• Suscripción de servicios de integración: $ 1.0 millones

Servicios profesionales y tarifas de implementación

Los ingresos por servicios profesionales para 2022 totalizaron $ 6.5 millones.

Tipo de servicio	Ingresos (2022)
Implementación inicial del sistema	$ 4.2 millones
Servicios de configuración personalizados	$ 2.3 millones

Servicios de consultoría y soporte técnico

Soporte técnico y servicios de consultoría generaron $ 3.8 millones en ingresos durante 2022.

• Servicios de asesoramiento de cultivo: $ 2.1 millones
• Contratos de soporte técnico: $ 1.7 millones

Contratos de mantenimiento y actualización continuos

Los contratos de mantenimiento y actualización contribuyeron con $ 5.2 millones a los ingresos de Agrify en 2022.

Tipo de contrato	Ingresos (2022)
Acuerdos de mantenimiento anual	$ 3.6 millones
Contratos de actualización tecnológica	$ 1.6 millones

Agrify Corporation (AGFY) - Canvas Business Model: Value Propositions

The core value Agrify Corporation now delivers is a strategic, two-pronged approach: high-growth, asset-light consumer brands and specialized B2B extraction technology. This pivot, cemented by the sale of the capital-intensive cultivation business in January 2025, has shifted the company's focus entirely to higher-margin revenue streams.

Here's the quick math: in the third quarter of 2025, the new Hemp-Derived Products segment drove $3.51 million in revenue, which is the engine for the consumer-facing value propositions. That's a massive sequential jump, so the strategy is defintely working to drive top-line growth.

For Consumers: Federally Compliant, Hemp-Derived THC Beverages (Regulatory Arbitrage)

You get a federally compliant, psychoactive alternative to alcohol, which is a game-changer for access. Agrify Corporation's flagship Señorita brand, a hemp-derived Delta 9 THC (HD9) beverage, bypasses most state-specific cannabis regulations because its THC content is below the 0.3% threshold.

This regulatory arbitrage allows for broader distribution across state lines and online direct-to-consumer sales, which traditional cannabis cannot touch. The US cannabis beverage market is valued at approximately $1.45 billion in 2025, and this strategy positions Agrify Corporation to capture a piece of that high-growth pie.

The company is already executing on this, securing an exclusive partnership with Chicago's Salt Shed music venue in January 2025, which anticipates an audience of over 600,000 music fans for the year.

For Licensees: Established, Recognized Cannabis Brand IP (e.g., RYTHM) for Local Markets

For licensed cannabis operators (licensees) in state-regulated markets, Agrify Corporation offers instant brand equity. They acquired major brand intellectual property (IP) like RYTHM and Dogwalkers in August 2025. Instead of building a brand from scratch, local multi-state operators (MSOs) can license these established, recognized names to sell products in their specific state. This is a much faster path to market.

This brand licensing model generates a high-margin, recurring revenue stream for Agrify Corporation. In Q3 2025, the Brand Licensing and Royalty Revenue segment contributed $532,000 to the top line. That's pure margin gold, which is why this value proposition is so important.

For Investors: Asset-Light Model with High-Margin Brand Licensing Revenue

The value proposition for you, the investor, is a leaner, more scalable business model. Agrify Corporation shed the high fixed costs and substantial debt associated with the Vertical Farming Unit (VFU) and Total Turn-Key (TTK) cultivation projects by selling that business in January 2025.

The new model is asset-light, focusing on intellectual property and brand management, not capital-intensive hardware. This shift is reflected in the company's liquidity, with a cash balance of $35.6 million as of September 30, 2025, providing a necessary runway for the new strategy.

The market is clearly reacting to the new focus, with the company's market capitalization standing at approximately $94.36 Million USD as of November 2025.

• Shed capital-intensive hardware and debt.
• Focus on high-margin IP licensing and brand distribution.
• Cash balance of $35.6 million provides operational flexibility.

For Processors: Comprehensive, Specialized Cannabis and Hemp Extraction Equipment

Agrify Corporation continues to provide value to cannabis and hemp processors through its specialized B2B extraction equipment portfolio. This includes comprehensive systems for hydrocarbon, ethanol, solventless, and post-processing extraction.

The value here is in maximizing concentrate quantity and quality for their customers. The extraction division was a key reason Green Thumb Industries Inc. secured up to $20 million in new convertible note financing for the company in late 2024 and early 2025. This B2B equipment is a stable, high-value offering that complements the new consumer-facing brand strategy.

Access to a High-Growth, Fragmented Alternative Beverage Market

The company provides a direct, branded entry point into the rapidly expanding market for THC-infused libations. Analysts project the THC-infused libation industry will expand with a Compound Annual Growth Rate (CAGR) of 19.2% for the rest of the decade. This is a fragmented market, which means there is a significant opportunity for a well-branded, federally compliant product like Señorita to gain market share quickly.

This market is growing because consumers are actively seeking alcohol alternatives that offer a low-calorie, hangover-free experience. Agrify Corporation is positioned to capitalize on this secular trend in consumer behavior.

Value Proposition Segment	Key Offering and 2025 Metric	Strategic Value to Customer/Investor
Consumers	Señorita HD9 Beverages (Hemp-Derived THC)	Federally compliant access to THC; alcohol alternative; available online and in 9 states.
Licensees	Licensed Brand IP (e.g., RYTHM, Dogwalkers)	Instant brand equity for state-level cannabis markets; $532,000 in Q3 2025 Brand Licensing Revenue.
Investors	Asset-Light Business Model	Higher margins, lower capital expenditure; cash balance of $35.6 million (Q3 2025).
Processors	Specialized Extraction Equipment (e.g., PX-30)	Maximizes concentrate quality and yield; supported by Green Thumb Industries' $20 million financing.
Market Access	Alternative Beverage Market Entry	Taps a market valued at $1.45 billion in 2025 with a projected 19.2% CAGR.

Agrify Corporation (AGFY) - Canvas Business Model: Customer Relationships

The Customer Relationship strategy for Agrify Corporation is undergoing a radical shift in late 2025, moving from a high-touch, long-term B2B equipment model to a dual-focus approach: automated direct-to-consumer (DTC) sales for branded products and a new, high-value brand licensing relationship with a major multi-state operator.

This pivot is financially clear: the new Hemp-Derived Products segment drove approximately $3.51 million of the company's roughly $4.04 million in total revenue for the third quarter of 2025 (Q3 2025). The old B2B model is being replaced by scalable, recurring licensing revenue.

Automated and personalized online direct-to-consumer (DTC) sales

The primary customer relationship for the core Hemp-Derived THC (HD9) beverage business is automated and low-cost, focusing on scale and reach. This model is built around the Señorita brand, which Agrify Corporation acquired in late 2024.

Customers acquire the product through an efficient, self-service online channel, or via retail partners in the 9 states where the product is currently available. The relationship is transactional but is personalized through targeted digital marketing and product-level engagement to drive repeat purchases.

• Acquire new customers via digital advertising and social media campaigns.
• Retain customers through automated email marketing and loyalty programs.
• Boost sales by offering the Señorita THC Margarita and other flavors directly online.

High-touch, long-term licensing relationships with major cannabis operators

Agrify Corporation has established a new, high-value, long-term licensing relationship that generates a recurring revenue stream with minimal operational overhead. This is a strategic relationship, not a transactional one, and focuses on intellectual property (IP) management.

The key example is the August 27, 2025, deal where Agrify acquired a portfolio of cannabis brand IP-including RYTHM, Dogwalkers, and Beboe-from Green Thumb Industries Inc. for $50 million. Concurrently, Agrify licensed the IP back to Green Thumb Industries Inc. (GTI Core, LLC) for manufacturing and distribution.

Here's the quick math: Agrify's relationship with Green Thumb Industries Inc. is now structured to deliver a predictable, sales-based revenue stream.

Relationship Component	Details	Financial Basis
Acquisition Value (IP)	RYTHM, Dogwalkers, Beboe, etc.	US$50 million (via convertible note)
Licensing Fee Structure	Trademark and Recipe License Agreement	Monthly license fee, payable in cash, based on sales of licensed products.
Operational Commitment	Agrify manages IP; Green Thumb Industries Inc. handles manufacturing/distribution.	Low operational cost for Agrify, high-touch account management for the partner.

Brand-building through experiential marketing and venue partnerships

To drive brand awareness and trial for its consumer products, Agrify Corporation is using experiential marketing (marketing that focuses on creating memorable experiences for customers) through exclusive venue partnerships. This is a critical strategy to move the Señorita brand into the mainstream.

The company secured an exclusive partnership on January 11, 2025, to sell its hemp-derived THC beverages at The Salt Shed, a major Chicago music venue. This partnership is defintely high-visibility, positioning the product as an alternative to alcohol for a large consumer base.

This single venue partnership targets an audience of over 600,000 music fans anticipated for the year, providing a direct, high-volume environment for product sampling and brand-building. The goal is to build brand equity before the customer moves to the automated DTC channel.

Dedicated B2B sales and account management for extraction equipment clients

While Agrify Corporation sold its cultivation business in January 2025, it retains a legacy B2B relationship model through its extraction equipment division. This is a high-touch sales process that involves technical consulting and dedicated account management, but its future is uncertain as the company explores alternatives for the business segment.

The relationship is defined by providing a full-service, turnkey solution (Agrify Total Turn-Key Solution), not just selling a box. For example, a 2024 deal with Grotech Farms LLC involved a $500K Turnkey Hydrocarbon Extraction and Lab Equipment Package, including the PX10 Hydrocarbon Extractor and a UL-Compliant C1D1 Explosion Proof Room. This requires deep, long-term technical support and account oversight.

• Provide technical consulting on complex extraction lab build-outs.
• Offer dedicated account management for large-scale equipment purchases.
• Support compliance and installation of specialized equipment like C1D1 rooms.

Agrify Corporation (AGFY) - Canvas Business Model: Channels

You need to understand that Agrify Corporation's channels have fundamentally shifted from a B2B hardware focus to a multi-pronged consumer-packaged goods (CPG) distribution model, plus a high-value brand licensing structure. This pivot, finalized in 2025, is why the Q3 2025 revenue from continuing operations hit approximately $4.04 million, driven overwhelmingly by the new brand strategy. It's a hybrid approach now, balancing direct consumer sales with major partner distribution.

Direct-to-consumer e-commerce platform

The direct-to-consumer (D2C) channel is critical for establishing the Señorita brand's presence and controlling the customer experience, especially in the fragmented hemp-derived THC (HD9) market. Agrify Corporation uses the dedicated e-commerce platform, `www.senoritadrinks.com`, to sell products like the Señorita THC Margaritas.

This channel bypasses traditional, state-regulated cannabis dispensaries, allowing for sales in nine states as of early 2025 where hemp-derived products are legal. Honestly, this D2C channel is the fastest way to scale a consumer brand when you're dealing with a patchwork of state laws.

Traditional retail, grocery, and convenience store distribution networks

The primary volume driver for the Señorita brand is the traditional retail channel, treating the hemp-derived THC beverage as a standard CPG item. This is a massive shift from the old vertical farming unit (VFU) model.

The $3.51 million in Hemp-Derived Products revenue for Q3 2025-which represents the vast majority of the company's top line-comes largely from moving product through third-party distributors into grocery, convenience, and liquor stores. This retail push is defintely where the company is spending its capital, aiming to get Señorita onto shelves right next to non-alcoholic beers and seltzers.

Exclusive on-premise partnerships

Agrify Corporation strategically uses exclusive on-premise partnerships to build brand awareness and drive trial in high-traffic, social settings. This is pure marketing disguised as a sales channel.

A concrete example is the January 2025 partnership with the Chicago music venue, The Salt Shed, where Señorita became the exclusive partner for hemp-derived THC beverages at the venue bars. This kind of deal puts the product directly into the hands of the target consumer, positioning it as a premium alcohol alternative.

B2B sales force for high-value extraction equipment

While the cultivation hardware business was sold in January 2025, Agrify Corporation retained its extraction solutions portfolio, which is sold through a dedicated B2B sales force. This channel targets licensed cannabis and hemp producers, processors, and labs.

These are high-value, complex sales requiring a specialized team. Here's the quick math: with Q3 2025 continuing operations revenue at $4.04 million and Hemp-Derived Products revenue at $3.51 million, the remaining revenue of approximately $0.53 million is primarily attributable to the sale of this specialized extraction equipment and related services. This channel provides a necessary, albeit smaller, revenue stream from the company's legacy technology expertise.

Licensed manufacturing and distribution by partners like Green Thumb Industries Inc. (GTI)

This is the newest and arguably most strategic channel, creating a high-margin, recurring revenue stream. In August 2025, Agrify Corporation (which changed its name to RYTHM, Inc. in September 2025) acquired a portfolio of brand intellectual properties (IPs)-including RYTHM, Dogwalkers, and Beboe-from Green Thumb Industries Inc. (GTI) for $50 million.

Immediately, Agrify Corporation licensed these brands back to GTI for manufacturing and distribution across GTI's extensive multi-state operator (MSO) network. This is a pure licensing channel, where Agrify receives a monthly license fee, payable in cash, based on sales of products using the licensed IP. GTI, which owns 35% of Agrify's common stock, acts as a powerful, built-in distribution partner for the newly acquired brands.

Channel Type	Product/Service	Q3 2025 Revenue Contribution (Est.)	Primary Function
Direct-to-Consumer (D2C)	Señorita HD9 Beverages	Embedded in the $3.51 million CPG figure	Market penetration, brand building, and direct customer data collection.
Traditional Retail & Grocery	Señorita HD9 Beverages	Bulk of the $3.51 million CPG figure	Volume sales and broad market accessibility via third-party distributors.
Exclusive On-Premise	Señorita HD9 Beverages	Minor, but high-visibility sales	Brand positioning as an alcohol alternative (e.g., The Salt Shed venue).
B2B Sales Force	Extraction Equipment & Services	Approximately $0.53 million	High-value, complex sales to licensed cannabis/hemp processors.
Licensed Distribution	RYTHM, Dogwalkers, Beboe, etc. Brand IP	Future recurring license fees (post-August 2025)	High-margin, recurring revenue via GTI's MSO manufacturing and distribution network.

Agrify Corporation (AGFY) - Canvas Business Model: Customer Segments

You're looking at a company that has fundamentally changed its customer focus in 2025, so the old cultivation hardware customers are gone. The new strategy is a hybrid model: a consumer packaged goods (CPG) business driving the top line, plus a high-tech business-to-business (B2B) equipment segment still generating revenue. Honestly, the CPG side is where the action-and the majority of the money-is right now.

Here's the quick math: Agrify Corporation's total revenue from continuing operations in the third quarter of 2025 (Q3 2025) was approximately $4.04 million. The new consumer-facing products accounted for the vast majority of that figure, showing a decisive shift in who the company is built to serve.

US adult-use consumers seeking low-dose, hemp-derived THC beverages.

This is Agrify Corporation's largest and most immediate customer segment, served primarily through the Señorita brand of hemp-derived THC Delta 9 (HD9) beverages. These consumers are looking for a low-calorie, low-sugar, all-natural alternative to alcohol, and they are typically located in states where recreational cannabis is not yet fully legalized, but HD9 products are permitted under the 2018 Farm Bill.

The success of this pivot is defintely clear in the Q3 2025 financials, where revenue from Hemp-Derived Products reached $3.51 million. This customer base is expanding rapidly, driving a 98% sequential revenue surge from Q2 2025 to Q3 2025. The Señorita brand is currently available in nine U.S. states, plus Canada, with a major distribution push underway to over 1,000 Circle K stores.

• Seeking alcohol alternatives (hangover-free, low-calorie).
• Located in HD9-friendly states, expanding access.
• Targeted by the flagship Señorita THC Margarita (e.g., Mango, Paloma, Lime Jalapeño).

Multi-state cannabis operators (MSOs) and licensed producers who need brand IP.

This segment represents a high-margin, B2B licensing model following the acquisition of a significant brand portfolio, including RYTHM, Dogwalkers, and Beboe. Agrify Corporation acts as a brand owner, licensing its intellectual property (IP) to MSOs, who then handle the manufacturing and distribution within their respective state-legal cannabis markets.

This is a strategic, capital-light revenue stream, and it generated $532,000 in Brand Licensing and Royalty Revenue in Q3 2025. The key relationship here is with Green Thumb Industries Inc., which is a major investor and partner in this new model, providing a clear path for brand penetration into regulated state markets.

Cannabis and hemp processors requiring specialized extraction equipment.

Despite the strategic pivot away from cultivation hardware, Agrify Corporation maintains its Extraction Solutions Portfolio, which serves licensed cannabis and hemp processors. These customers are B2B entities that require high-tech systems for converting biomass into concentrates, oils, and distillates-the raw materials for products like the Señorita beverages and other licensed brands.

The portfolio is comprehensive, covering hydrocarbon, ethanol, solventless, and post-processing extraction equipment. While the company's Q3 2025 revenue heavily favors the CPG segment, the extraction division remains a core part of its value proposition to the industry, providing essential tools to maximize concentrate quantity and quality.

Retail and hospitality venues looking for exclusive beverage partnerships.

This is a critical channel strategy that treats venues as a distinct customer segment, aiming for exclusive, high-visibility distribution points. The goal is to drive brand awareness and direct sales of the HD9 beverages in an on-premises setting, positioning them as a premium alcohol alternative.

A concrete example is the exclusive partnership with The Salt Shed, a major music venue in Chicago, which began in January 2025. This single partnership is anticipated to expose the Señorita brand to over 600,000 music fans annually, demonstrating the value of this customer segment for brand building and volume sales.

Customer Segment	Primary Offering	Q3 2025 Revenue Contribution	Key Actionable Insight
US Adult-Use Consumers	Señorita HD9 Beverages	$3.51 million	The core growth engine; focus is on expanding retail distribution (e.g., Circle K) and new flavors.
MSOs & Licensed Producers	Brand Licensing & IP (RYTHM, Beboe)	$532,000	High-margin, recurring revenue stream; success is tied to MSO partner's execution in state-legal markets.
Cannabis & Hemp Processors	Extraction Solutions Portfolio	Residual/Minimal in Q3 2025 (Focus shifted)	B2B equipment sales; long-term value in maximizing concentrate quality for the entire industry.
Retail & Hospitality Venues	Exclusive Beverage Partnerships	Indirectly via CPG Revenue	Critical for brand building and high-volume, on-premises consumption (e.g., The Salt Shed partnership).

Agrify Corporation (AGFY) - Canvas Business Model: Cost Structure

You're looking at Agrify Corporation's (AGFY) cost structure and, honestly, it tells the story of a high-stakes strategic pivot. The direct takeaway is this: the cost base is still too heavy for the current revenue scale, even after divesting the legacy cultivation business, which is why the operating loss remains significant. The focus is now on creating a high-margin, brand-centric model to drive operating leverage (the rate at which profit grows faster than costs).

Operating Loss from Continuing Operations

The most critical number to focus on is the operating loss. For the third quarter of 2025 (Q3 2025), Agrify Corporation reported an operating loss from continuing operations of $8.9 million. This is the clearest sign that, despite a 98% sequential revenue surge in the quarter, the fixed and semi-fixed costs are still overwhelming the top line. The company is essentially burning cash to fund its transition to a branded consumer packaged goods (CPG) platform.

Here's the quick math: the Q3 2025 revenue was approximately $4.04 million, meaning the operating expenses were more than three times the revenue. This is a classic scaling challenge for a company in a sharp transition.

Selling, General, and Administrative (SG&A) Expenses

Selling, General, and Administrative (SG&A) expenses are the primary driver of the company's high fixed costs, even after management's cost-cutting efforts. For the fiscal year 2024, SG&A was $12.31 million, a reduction from $16.06 million in 2023. This reduction came from cuts in salaries, stock-based compensation, and consulting fees.

Still, the cost remains substantial as the company builds out its new CPG sales and distribution network. For the six months ended June 30, 2025, SG&A expenses were $11.271 million. This suggests the annualized 2025 SG&A will likely exceed the 2024 figure as they ramp up marketing for the new brands.

The SG&A cost is now heavily weighted toward brand building and distribution setup:

• Marketing and advertising for the Señorita brand.
• Salaries and commissions for the new sales team.
• Administrative overhead for SEC compliance and corporate functions.

Cost of Goods Sold (COGS) for Branded Beverage Manufacturing and Distribution

The Cost of Goods Sold (COGS) reflects the direct costs of producing and distributing the hemp-derived products, such as Señorita THC Margaritas. The shift to a brand-centric model is intended to minimize this cost relative to revenue, especially from the licensing stream.

For the three months ended June 30, 2025, the COGS for continuing operations was $1.36 million. This is a critical metric to watch, as the new strategy relies on maintaining a low COGS on the licensing side to drive high gross margins.

The cost structure is dual-natured now:

• Higher COGS for direct sales of manufactured products (like the beverages).
• Minimal COGS for brand licensing and royalty revenue, which is nearly pure profit.

Research and Development (R&D) for New Product Formulations

Agrify Corporation's R&D expenditure has been significantly curtailed as the company shifted away from capital-intensive cultivation technology. R&D for the fiscal year 2024 was only $0.74 million, a sharp decrease from $2.30 million in the previous year.

The R&D focus has moved from hardware innovation (Vertical Farming Units) to formulation science for the branded beverages and other consumer products. This is a defintely smaller, more targeted investment, reflecting the CPG model's priority on marketing over deep-tech development.

Brand IP Acquisition and Maintenance Costs

A major one-time cost was the strategic realignment itself. The company sold its legacy Cultivation business on December 31, 2024, resulting in a loss on disposal of $11.9 million in the fourth quarter of 2024. This is the cost of shedding the old, capital-intensive model to finance the new brand strategy.

The new cost base includes the amortization and maintenance of new brand IP, such as the Señorita brand, which was acquired in December 2024. While the exact maintenance cost is not itemized, the value of the new licensing revenue stream-which totaled $532,000 in Q3 2025-shows the high-margin return on the brand investment.

The ongoing costs are tied to protecting the brand equity:

• Legal fees for trademark and intellectual property (IP) defense.
• Contractual royalty payments for licensed brands (e.g., RYTHM, Dogwalkers, Beboe).
• Marketing spend to maintain brand relevance and consumer awareness.

To summarize the cost structure for continuing operations, here is a breakdown of key expenses for the most recent periods:

Cost Component	Period	Amount (in millions)	Commentary
Operating Loss from Continuing Operations	Q3 2025	$8.9	Indicates cost base is still too high relative to new revenue scale.
Selling, General, and Administrative (SG&A)	6 Months Ended June 30, 2025	$11.271	High costs reflect investment in CPG sales, marketing, and distribution.
Cost of Goods Sold (COGS)	3 Months Ended June 30, 2025	$1.36	Direct cost of manufacturing and distributing hemp-derived products.
Research and Development (R&D)	Fiscal Year 2024	$0.74	Significantly reduced, now focused on product formulation, not hardware.
Loss on Disposal of Cultivation Business (Contextual Cost)	Q4 2024	$11.9	One-time cost of the strategic pivot to the brand-centric model.

The next step for management is clear: Finance needs to draft a 13-week cash view by Friday to ensure the current cash runway of $35.6 million (as of September 30, 2025) is sufficient to cover these operating losses until the new CPG revenue streams achieve scale and generate positive operating cash flow.

Agrify Corporation (AGFY) - Canvas Business Model: Revenue Streams

Direct sales of hemp-derived products, which generated $3.51 million in Q3 2025

You're looking at a company that has fundamentally changed how it makes money, and the numbers show it. Agrify Corporation's primary revenue stream now comes from the direct sale of consumer-facing products, specifically hemp-derived THC beverages like Señorita THC Margaritas. This is a high-volume, quick-turn consumer packaged goods (CPG) model, which is a massive shift from their old capital-equipment focus.

In the third quarter of 2025 (Q3 2025), this segment generated $3.51 million in revenue from continuing operations. Honestly, this revenue stream is the engine of the new model, driving the vast majority of the top line. It is a clear action: sell products directly to consumers where the regulatory environment allows for hemp-derived cannabinoids.

Brand licensing and royalty fees, totaling $532,000 in Q3 2025

This is where the high-margin opportunity lies. The company is actively monetizing its intellectual property (IP) through brand licensing and royalty agreements, a much less capital-intensive model than building out cultivation facilities. This stream is derived from licensing acquired brand IP, including names like RYTHM, Dogwalkers, and Beboe, for manufacture and distribution by third parties.

The licensing and royalty fees totaled $532,000 in Q3 2025, a crucial, high-margin contribution to the overall revenue mix. This stream typically carries minimal Cost of Goods Sold (COGS), so it's a direct path to improved profitability over time. The new model is defintely focused on recurring, high-margin licensing fees.

Sales and service of specialized cannabis and hemp extraction equipment

To be fair, Agrify Corporation's history is rooted in technology, including extraction equipment. However, the strategic pivot has effectively sidelined this revenue stream in the continuing operations for late 2025. The company sold its capital-intensive cultivation business (Vertical Farming Units, or VFUs) in late 2024, and while the extraction business is still being explored for alternatives, its contribution to the core, continuing revenue is now negligible.

Here's the quick math: the total revenue from continuing operations in Q3 2025 is almost entirely accounted for by the two branded product streams, leaving no material revenue from equipment sales or service in the continuing business. This is a key point for investors: the old hardware model is gone.

Total revenue from continuing operations was approximately $4.04 million in Q3 2025

The total revenue from continuing operations for the quarter ended September 30, 2025, was approximately $4.04 million. This figure represents a massive sequential jump from the prior quarter, but it also clearly maps the new revenue focus.

You can see the clear breakdown of where the money is coming from:

Revenue Stream (Q3 2025)	Amount (in Millions USD)	Percentage of Total Revenue
Direct Sales of Hemp-Derived Products	$3.51 million	86.9%
Brand Licensing and Royalty Fees	$0.532 million	13.1%
Extraction/Equipment Sales & Service (Continuing Ops)	Negligible / Immaterial	~0.0%
Total Revenue from Continuing Operations	$4.04 million	100.0%

The revenue base is now simpler and centered on consumer brands. That's a huge operational change.

The new model is defintely focused on recurring, high-margin licensing fees

The strategic shift is all about moving from a capital-intensive, hardware-based business to an asset-light, brand-centric one. The goal is to maximize the percentage of revenue derived from licensing, which is a recurring, high-margin stream.

• Maximize licensing revenue: The $532,000 in Q3 2025 is just the start of this focus.
• Reduce capital expenditure: Licensing requires far less upfront cash than manufacturing vertical farming units.
• Increase gross margin: Licensing fees have a minimal Cost of Goods Sold (COGS), boosting overall profitability.

The action for management is clear: acquire and license more consumer-facing brands to grow that recurring revenue component, moving the company closer to sustainable profitability.