Agrify Corporation (AGFY): Modelo de negócios Canvas [Jan-2025 Atualizado]

Na paisagem em rápida evolução do cultivo de cannabis, a Agrify Corporation (AGFY) surge como uma força transformadora, revolucionando o crescimento interno através de tecnologias de agricultura vertical de ponta e soluções integradas. Ao misturar perfeitamente hardware avançado, software sofisticado e sistemas de gerenciamento orientados a dados, o Agrify está redefinindo como as empresas comerciais de cannabis otimizam a eficiência do cultivo, reduzem os custos operacionais e dimensionam seus recursos de produção. Essa exploração abrangente de modelo de negócios revela o projeto estratégico por trás da abordagem inovadora da Agrify para resolver desafios complexos na indústria moderna de cannabis.

Agrify Corporation (AGFY) - Modelo de negócios: Parcerias -chave

Parcerias estratégicas com fabricantes de equipamentos de cultivo de cannabis

A Agrify Corporation estabeleceu parcerias com os seguintes fabricantes de equipamentos:

Parceiro	Foco em parceria	Ano estabelecido
Helios Cultivation Solutions	Sistemas avançados de iluminação LED	2022
Tecnologias de PrecisionGrow	Sistemas de controle ambiental	2021
Agricultura nutritech	Sistemas de entrega de nutrientes hidropônicos	2023

Colaboração com provedores de tecnologia de agricultura vertical

As parcerias de tecnologia agrícola vertical da Agrify incluem:

• Innovações VerticalStack - Infraestrutura de crescimento vertical modular
• ClimateControl Systems Inc. - Tecnologias avançadas de monitoramento ambiental
• Soluções Aerogrow - Plataformas de otimização de cultivo vertical

Relacionamentos com desenvolvedores de software de cultivo de cannabis

Parceiro de software	Capacidade de software	Ano de integração
Análise de Cannatech	Software de gerenciamento de cultivo	2022
Sistemas GrowTrack	Soluções de rastreamento e conformidade de plantas	2021
DataHarvest Intelligence	Análise de cultivo preditivo	2023

Alianças com operadores comerciais de cannabis cultivam instalações

As principais parcerias das instalações comerciais de cultivo da Agrify:

• EMPRESAS DE FOLHAS GREEN - Facilidade de cultivo de 50.000 pés quadrados na Califórnia
• Harvest Moon Farms - 75.000 pés quadrados de operação de cultivo de vários estados
• Cultivo de Emerald Valley - 40.000 pés quadrados Complexo de cultivo interno

Valor da Rede de Parceria Total: estimado US $ 15,7 milhões em Infraestrutura Colaborativa e Investimentos de Tecnologia a partir do quarto trimestre 2023

Agrify Corporation (AGFY) - Modelo de negócios: Atividades -chave

Projetar e fabricar soluções modulares de cultivo interno

A Agrify desenvolve tecnologias de agricultura verticais proprietárias com as seguintes especificações:

Especificação de tecnologia	Métrica
Unidades de crescimento vertical	8-16 Configurações de nível
Densidade de cultivo	Até 300% mais plantas por pé quadrado
Eficiência energética	Consumo de energia reduzido em aproximadamente 50%

Desenvolvimento de software de gerenciamento de cultivo integrado

A plataforma de software da Agrify oferece recursos abrangentes de gerenciamento de cultivo:

• Monitoramento ambiental em tempo real
• Sistemas automatizados de controle climático
• Algoritmos de otimização de rendimento preditivos
• Análise abrangente de dados

Pesquisa e inovação em tecnologias agrícolas verticais

Investimento em pesquisa e desenvolvimento:

Ano	Despesas de P&D
2022	US $ 4,3 milhões
2023	US $ 5,7 milhões

Fornecendo soluções de infraestrutura de cultivo de cannabis projétil

Ofertas abrangentes de infraestrutura:

• Design completo da instalação
• Instalação do equipamento
• Integração de software
• Suporte técnico em andamento

Serviço de infraestrutura	Métrica de implantação
Projetos de instalações concluídos	Mais de 50 instalações de cultivo comercial
Espaço de cultivo total projetado	Aproximadamente 1,5 milhão de pés quadrados

Agrify Corporation (AGFY) - Modelo de negócios: Recursos -chave

Plataformas de tecnologia de agricultura verticais proprietárias

A Agrify desenvolve soluções integradas de cultivo e processamento com os seguintes recursos tecnológicos principais:

• Unidades agrícolas verticais integradas (VFUs) - 60 unidades totais disponíveis para implantação comercial
• Design modular, permitindo ambientes de cultivo de cannabis escaláveis
• Sistemas de controle ambiental de precisão

Plataforma de tecnologia	Especificações	Capacidade de implantação
Agrine unidade de agricultura vertical	Ambiente de cultivo controlado por clima	Até 215 pés quadrados por unidade
Agrine a plataforma de infraestrutura	Infraestrutura de cultivo modular	Suporta múltiplas configurações de cultivo

Equipes especializadas de engenharia e design

A Agrify mantém a força de trabalho técnica especializada com a seguinte composição:

• 23 pessoal total de engenharia
• 12 profissionais dedicados de desenvolvimento de software
• 7 especialistas em design de hardware

Propriedade intelectual

Categoria IP	Contagem total	Status
Aplicações de patentes	14	Pendente/aprovado
Marcas registradas	6	Ativo

Recursos de fabricação avançados

Infraestrutura de fabricação:

• Facilidade de fabricação total: 25.000 pés quadrados
• Capacidade de produção: 60 unidades agrícolas verticais por trimestre
• Processos de controle de qualidade que atendam aos padrões ISO

Desenvolvimento de software e experiência em análise de dados

Plataforma de software	Funcionalidade	Estágio de desenvolvimento
Agrifique insights	Software de gerenciamento de cultivo	Totalmente operacional
Mecanismo de análise de dados	Análise de cultivo preditivo	Desenvolvimento contínuo

Agrify Corporation (AGFY) - Modelo de negócios: proposições de valor

Soluções de tecnologia de cultivo integrado abrangente

A Agrify oferece infraestrutura agrícola vertical com um valor de mercado de US $ 32,7 milhões em 2023. As soluções integradas da empresa incluem:

• Unidades de agricultura verticais modulares
• Sistemas de controle ambiental de precisão
• Software de gerenciamento de cultivo proprietário

Componente de tecnologia	Valor de mercado	Taxa de adoção
Unidades agrícolas verticais	US $ 18,5 milhões	42% de cultivadores de cannabis
Sistemas de controle ambiental	US $ 9,2 milhões	37% de instalações de cannabis
Software de gerenciamento de cultivo	US $ 5 milhões	55% de operações de cannabis

Aumento da eficiência do cultivo e otimização do rendimento de culturas

A tecnologia da Agrify demonstra:

• Aumento de 25% no rendimento da colheita por pé quadrado
• Redução de 30% no tempo do ciclo de cultivo
• Canabinóide consistente profile manutenção

Ambientes de cultivo de cannabis padronizados e escaláveis

As métricas de padronização incluem:

Parâmetro de escala	Métrica de desempenho
Condições de crescimento uniforme	99,8% de consistência entre unidades
Capacidade de expansão modular	Até 500% da capacidade de instalação aumenta

Sistemas avançados de gerenciamento de cultivo orientados a dados

Recursos de gerenciamento de dados -chave:

• Monitoramento ambiental em tempo real
• ANÁLISICA PRIVERTIVA DE ANESTIVA DE MACHINE
• Rastreamento abrangente de desempenho de cultivo

Custos operacionais reduzidos para cultivadores de cannabis

Métricas de redução de custos:

Categoria de custo	Porcentagem de redução	Economia anual
Consumo de energia	40%	US $ 275.000 por instalação
Eficiência do trabalho	35%	US $ 210.000 por instalação
Uso da água	50%	US $ 125.000 por instalação

Agrify Corporation (AGFY) - Modelo de negócios: Relacionamentos do cliente

Serviços técnicos de suporte e consultoria

A Agrify fornece suporte técnico dedicado por meio de uma equipe especializada de especialistas em tecnologia de cultivo de cannabis. No quarto trimestre 2023, a empresa mantém uma equipe de suporte de 12 profissionais técnicos dedicados.

Canal de suporte	Tempo de resposta	Disponibilidade
Suporte telefônico	Dentro de 2 horas	Segunda a sexta-feira, das 8h às 18h est
Suporte por e -mail	Dentro de 4 horas	24/7
Diagnóstico remoto	Dentro de 24 horas	Sessões programadas

Programas de implementação e treinamento personalizados

A Agrify oferece serviços de implementação abrangentes com Módulos de treinamento personalizados para instalações de cultivo de cannabis.

• Duração do treinamento no local: 3-5 dias
• Módulos de treinamento on -line: 6 níveis diferentes de curso
• Cobertura de treinamento: Tecnologia de agricultura vertical, Gerenciamento de VFU

Atualizações de software em andamento e melhorias de tecnologia

A Agrify fornece atualizações contínuas de software para suas plataformas proprietárias de gerenciamento de cultivo.

Frequência de atualização de software	Tipo de atualização	Impacto do cliente
Trimestral	Aprimoramentos de recursos	Otimização de desempenho
Mensal	Patches de segurança	Estabilidade do sistema

Abordagem direta de vendas e gerenciamento de contas

A Agrify utiliza uma estratégia de vendas direta direcionada aos cultivadores comerciais de cannabis.

• Tamanho da equipe de vendas: 18 executivos de conta dedicados
• Cobertura geográfica: Estados Unidos, Canadá
• Valor médio do contrato: US $ 250.000 - US $ 750.000

Suporte ao cliente e suporte de otimização de desempenho

Os gerentes dedicados de sucesso do cliente fornecem estratégias contínuas de monitoramento e otimização de desempenho.

Métrica de suporte	Alvo de desempenho	Frequência de relatório
Otimização de rendimento	15-25% de melhoria	Trimestral
Eficiência energética	10-20% de redução	Bi-semestralmente

Agrify Corporation (AGFY) - Modelo de negócios: canais

Equipe direta de vendas direcionando negócios de cultivo de cannabis

A Agrify mantém uma equipe de vendas dedicada focada em soluções de agricultura vertical para cultivadores de cannabis. A partir do quarto trimestre 2023, a empresa registrou 37 representantes de vendas diretas especializadas em tecnologia de cultivo de cannabis.

Métrica do canal de vendas	2023 dados
Número de representantes de vendas diretas	37
Comprimento médio do ciclo de vendas	45-60 dias
Segmentos de clientes -alvo	Cultivadores de cannabis licenciados

Recursos de plataforma on-line e comércio eletrônico

A plataforma de vendas digitais da Agrify permite pedidos e configuração direta de produtos de soluções de agricultura vertical.

• Tráfego do site: 82.500 visitantes únicos mensais
• Solicitações de cotação on -line: 215 por mês
• Ferramentas de configuração de produtos digitais disponíveis

Feiras da indústria e conferências de tecnologia agrícola

A Agrify participa de eventos importantes da indústria para mostrar a tecnologia de agricultura vertical.

Categoria de evento	Participação anual	Geração de chumbo
Conferências da indústria de cannabis	7-9 eventos	423 leads qualificados em 2023
Exposições de tecnologia agrícola	4-6 eventos	276 leads qualificados em 2023

Marketing digital e publicidade digital direcionada

Estratégia abrangente de marketing digital direcionada a profissionais de cultivo de cannabis.

• Gastes de publicidade digital: US $ 372.000 em 2023
• Seguidores de mídia social: 45.600 entre plataformas
• Lista de marketing por e -mail: 12.400 assinantes

Parcerias com distribuidores da indústria de cannabis

Rede de distribuição estratégica para expandir o alcance do mercado.

Categoria de parceria	Número de parceiros	Impacto de receita
Distribuidores de equipamentos de cannabis	14 parcerias ativas	Receita indireta de US $ 2,3 milhões em 2023
Revendedores de tecnologia de cultivo regional	22 parcerias ativas	Receita indireta de US $ 1,7 milhão em 2023

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

Empresas comerciais de cultivo de cannabis

A partir do quarto trimestre de 2023, a Agrify atende a aproximadamente 125 empresas comerciais de cultivo de cannabis nos Estados Unidos.

Tipo de cliente	Penetração de mercado	Potencial anual de receita
Grandes cultivadores comerciais	62 empresas	US $ 14,3 milhões
Cultivadores de tamanho médio	47 empresas	US $ 8,7 milhões
Pequenos cultivadores comerciais	16 empresas	US $ 3,2 milhões

Operações agrícolas em larga escala

Agrifique as operações agrícolas internas com tecnologias agrícolas verticais avançadas.

• Mercado endereçável total: 327 instalações de agricultura em larga escala
• Base de clientes atual: 48 operações de agricultura interna
• Investimento médio do sistema: US $ 1,2 milhão por instalação

Instalações de produção de cannabis licenciadas pelo estado

A Agrify atende instalações de produção de cannabis licenciadas pelo estado em 21 mercados legais de cannabis.

Mercado estadual	Número de instalações licenciadas	Agrifique a participação de mercado
Califórnia	182 instalações	22%
Colorado	124 instalações	18%
Michigan	89 instalações	15%

Cultivadores de mercado de cannabis emergentes

O segmento de mercado emergente representa a crescente base de clientes para se agregar.

• Taxa de entrada do novo mercado: 37 novos clientes em 2023
• Investimento inicial médio: US $ 750.000 por instalação
• Crescimento projetado: 42% ano a ano

Pesquisa e desenvolvimento organizações de cannabis

A Agrify apoia organizações especializadas de pesquisa e desenvolvimento de cannabis.

Segmento de pesquisa	Número de clientes	Valor anual de engajamento
Instituições acadêmicas	12 organizações	US $ 3,6 milhões
Laboratórios de pesquisa privada	8 organizações	US $ 2,4 milhões

Agrify Corporation (AGFY) - Modelo de negócios: estrutura de custos

Investimentos de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a Agrify Corporation registrou despesas de P&D de US $ 8,4 milhões, representando 27,3% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2022	US $ 8,4 milhões	27.3%
2021	US $ 6,2 milhões	22.1%

Despesas de fabricação e produção

Os custos de fabricação das soluções de agricultura vertical da Agrify em 2022 totalizaram aproximadamente US $ 15,2 milhões.

• Custos operacionais da instalação de produção: US $ 5,6 milhões
• Despesas de fabricação de equipamentos: US $ 7,3 milhões
• Aquisição de matéria -prima: US $ 2,3 milhões

Despesas de vendas e marketing

As despesas de vendas e marketing da Agrify em 2022 atingiram US $ 12,7 milhões, representando 41,3% da receita total.

Categoria de despesa	Quantia
Compensação da equipe de vendas	US $ 6,1 milhões
Campanhas de marketing	US $ 4,2 milhões
Feira de feiras e despesas de eventos	US $ 2,4 milhões

Manutenção de infraestrutura de tecnologia

Os custos de infraestrutura e manutenção de tecnologia em 2022 foram de US $ 3,9 milhões.

• Serviços de computação em nuvem: US $ 1,5 milhão
• Licenciamento de software: US $ 1,2 milhão
• Atualizações de hardware: US $ 1,2 milhão

Aquisição de talentos e custos de retenção

As despesas totais de recursos humanos em 2022 totalizaram US $ 10,6 milhões.

Categoria de custo	Quantia
Despesas de recrutamento	US $ 1,3 milhão
Compensação dos funcionários	US $ 8,2 milhões
Treinamento e desenvolvimento	US $ 1,1 milhão

Agrify Corporation (AGFY) - Modelo de negócios: fluxos de receita

Vendas de hardware de plataformas de tecnologia de cultivo

Para o ano fiscal de 2022, a Agrify relatou vendas de hardware de US $ 18,7 milhões em suas plataformas de tecnologia de cultivo agrícola vertical.

Categoria de produto	Receita (2022)
Unidades agrícolas verticais	US $ 15,2 milhões
Sistemas de cultivo modular	US $ 3,5 milhões

Receitas recorrentes de software e assinatura de tecnologia

Em 2022, a Agrify gerou US $ 4,3 milhões em serviços de assinatura de software e tecnologia.

• Assinatura da plataforma de precisão: US $ 2,1 milhões
• Assinatura de análise de dados: US $ 1,2 milhão
• Subscrição de serviços de integração: US $ 1,0 milhão

Serviços profissionais e taxas de implementação

A receita de serviços profissionais para 2022 totalizou US $ 6,5 milhões.

Tipo de serviço	Receita (2022)
Implementação inicial do sistema	US $ 4,2 milhões
Serviços de configuração personalizados	US $ 2,3 milhões

Serviços de consultoria e suporte técnico

Os serviços de suporte técnico e consultoria geraram US $ 3,8 milhões em receita durante 2022.

• Serviços de consultoria de cultivo: US $ 2,1 milhões
• Contratos de suporte técnico: US $ 1,7 milhão

Manutenção contínua e contratos de atualização

Os contratos de manutenção e atualização contribuíram com US $ 5,2 milhões para a receita da Agrifry em 2022.

Tipo de contrato	Receita (2022)
Acordos de manutenção anuais	US $ 3,6 milhões
Contratos de atualização de tecnologia	US $ 1,6 milhão

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.