Agrify (AGFY) 10-Q 12 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 10, 2021
Document Information Line Items
Entity Registrant Name	AGRIFY CORPORATION
Trading Symbol	AGFY
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		20,558,433
Amendment Flag	false
Entity Central Index Key	0001800637
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-39946
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	30-0943453
Entity Address, Address Line One	76 Treble Cove Rd.
Entity Address, Address Line Two	Building 3
Entity Address, City or Town	Billerica
Entity Address, Country	MA
Entity Address, Postal Zip Code	01862
City Area Code	(617)
Local Phone Number	896-5243
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets:
Cash and cash equivalents	$ 79,841	$ 8,111
Marketable securities	35,930
Accounts receivable, net of allowance for doubtful accounts of $55 and $54, as of June 30, 2021 and December 31, 2020, respectively.	15,135	4,014
Inventory	9,358	5,170
Deferred IPO costs		981
Prepaid expenses and other receivables	3,074	364
Total current assets	143,338	18,640
Non-current marketable securities	14,360
Loan Receivable	886
Property Plant and Equipment, net	1,836	873
Operating lease right-of-use assets	828
Goodwill	632	632
Intangible assets acquired through business combination, net	1,510	1,603
Capitalized website costs, net	70	91
Total Assets	163,460	21,839
Current Liabilities:
Accounts payable	862	693
Accrued expenses and other current liabilities	18,824	6,550
Notes payable, net of debt discount of $0 and $4,777 as of June 30, 2021 and December 31, 2020, respectively		12,493
Derivative liabilities		7,141
Deferred revenue	209	152
Total current liabilities	19,895	27,029
Other non-current liabilities	356	435
Operating lease liabilities—long term	548
Long-term debt	833	829
Total Liabilities	21,632	28,293
Commitments and contingencies (Note 16)
Stockholders’ Equity (Deficit)
Common stock, 50,000,000 shares, $0.001 par value authorized as of June 30, 2021 and December 31, 2020, respectively; 20,373,699 and 4,211,677 shares issued at June 30, 2021 and December 31, 2020, respectively	19	4
Preferred stock, value
Additional paid in capital	177,373	19,827
Accumulated deficit	(35,956)	(26,510)
Total Stockholders’ Equity (Deficit)	141,436	(6,679)
Non-controlling Interests	392	225
Total Liabilities and Stockholders’ Equity (Deficit)	163,460	21,839
Preferred A Stock
Stockholders’ Equity (Deficit)
Preferred stock, value

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Allowance for doubtful accounts (in Dollars)	$ 55	$ 54
Net of debt discount (in Dollars)	$ 0	$ 4,777
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	20,373,699	4,211,677
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	2,895,000	2,895,000
Preferred stock, shares issued	0	0
Preferred A Stock
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	105,000	105,000
Preferred stock, shares issued	0	100,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue, net	$ 11,825	$ 3,908	$ 18,833	$ 4,921
Cost of goods sold	11,298	2,890	18,846	3,862
Gross (loss) profit	527	1,018	(13)	1,059
OPERATING EXPENSES
Research and development	774	743	1,656	1,943
Selling, general and administrative expenses	5,181	2,713	10,255	5,003
Total operating expenses	5,955	3,456	11,911	6,946
Operating loss	(5,428)	(2,438)	(11,924)	(5,887)
OTHER (EXPENSE) INCOME, NET
Interest (expense) income, net	55	(41)	23	(36)
Other expenses	(63)		(63)
Gain on extinguishment of notes payable			2,685
Other (expense) income, net	(8)	(41)	2,645	(36)
Net loss before non-controlling interest	(5,436)	(2,479)	(9,279)	(5,923)
Income (loss) attributable to non-controlling interest	200	(35)	167	(66)
Net loss attributable to Agrify Corporation.	$ (5,636)	$ (2,444)	$ (9,446)	$ (5,857)
Net loss per share attributable to common stockholders – basic and diluted (in Dollars per share)	$ (0.28)	$ (0.60)	$ (0.57)	$ (1.46)
Weighted average common shares outstanding – basic and diluted (in Shares)	20,344,278	4,211,677	16,661,948	4,139,691

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders’ Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Common Stock	Preferred A Stock	Additional Paid-In Capital	Subscription Receivable	Accumulated Deficit	Total Stockholders’ Equity attributable to Agrify	Non- controlling Interests	Total
Balance at Dec. 31, 2019	$ 4		$ 4,124	$ (40)	$ (4,893)	$ (805)		$ (805)
Balance (in Shares) at Dec. 31, 2019	3,616,125
Stock based compensation			61			61		61
Stock subscription				40		40		40
Issuance of Preferred A Stock			6,000			6,000		6,000
Issuance of Preferred A Stock (in Shares)		60,000
Investment in Agrify Valiant							40	40
Acquisition of TriGrow Systems			1,356			1,356	207	1,563
Acquisition of TriGrow Systems (in Shares)	595,552
Net loss					(3,413)	(3,413)	(31)	(3,444)
Balance at Mar. 31, 2020	$ 4		11,541		(8,306)	3,239	216	3,455
Balance (in Shares) at Mar. 31, 2020	4,211,677	60,000
Balance at Dec. 31, 2019	$ 4		4,124	(40)	(4,893)	(805)		(805)
Balance (in Shares) at Dec. 31, 2019	3,616,125
Net loss								(5,923)
Balance at Jun. 30, 2020	$ 4		16,083		(10,750)	5,337	181	5,518
Balance (in Shares) at Jun. 30, 2020	4,211,677	100,000
Balance at Mar. 31, 2020	$ 4		11,541		(8,306)	3,239	216	3,455
Balance (in Shares) at Mar. 31, 2020	4,211,677	60,000
Stock based compensation			542			542		542
Issuance of Preferred A Stock			4,000			4,000		4,000
Issuance of Preferred A Stock (in Shares)		40,000
Net loss					(2,444)	(2,444)	(35)	(2,479)
Balance at Jun. 30, 2020	$ 4		16,083		(10,750)	5,337	181	5,518
Balance (in Shares) at Jun. 30, 2020	4,211,677	100,000
Balance at Dec. 31, 2020	$ 4		19,827		(26,510)	(6,679)	225	(6,454)
Balance (in Shares) at Dec. 31, 2020	4,211,677	100,000
Stock based compensation			2,135			2,135		2,135
Beneficial conversion feature associated with amended Convertible Promissory Notes			3,869			3,869		3,869
Conversion of Convertible Notes	$ 2		13,098			13,100		13,100
Conversion of Convertible Notes (in Shares)	1,697,075
Issuance of common stock – Initial Public Offering (“IPO”), net of fees	$ 6		56,955			56,961		56,961
Issuance of common stock – Initial Public Offering (“IPO”), net of fees (in Shares)	6,210,000
Issuance of common stock – Secondary public offering, net of fees	$ 6		79,833			79,839		79,839
Issuance of common stock – Secondary public offering, net of fees (in Shares)	6,388,888
Conversion of Preferred A Stock	$ 1		(1)
Conversion of Preferred A Stock (in Shares)	1,373,038	(100,000)
Exercise of options			439			439		439
Exercise of options (in Shares)	174,223
Exercise of warrants			5			5		5
Exercise of warrants (in Shares)	240,233
Net loss					(3,810)	(3,810)	(33)	(3,843)
Balance at Mar. 31, 2021	$ 19		176,160		(30,320)	145,859	192	146,051
Balance (in Shares) at Mar. 31, 2021	20,295,134
Balance at Dec. 31, 2020	$ 4		19,827		(26,510)	(6,679)	225	(6,454)
Balance (in Shares) at Dec. 31, 2020	4,211,677	100,000
Net loss								(9,279)
Balance at Jun. 30, 2021	$ 19		177,373		(35,956)	141,436	392	141,828
Balance (in Shares) at Jun. 30, 2021	20,373,699
Balance at Mar. 31, 2021	$ 19		176,160		(30,320)	145,859	192	146,051
Balance (in Shares) at Mar. 31, 2021	20,295,134
Stock based compensation			931			931		931
Exercise of options			282			282		282
Exercise of options (in Shares)	78,565
Net loss					(5,636)	(5,636)	200	(5,436)
Balance at Jun. 30, 2021	$ 19		$ 177,373		$ (35,956)	$ 141,436	$ 392	$ 141,828
Balance (in Shares) at Jun. 30, 2021	20,373,699

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss attributable to Agrify Corporation	$ (9,446)	$ (5,857)
Adjustments to reconcile net loss attributable to Agrify Corporation to net cash used in operating activities:
Depreciation and amortization	313	147
Amortization of premium on investments	63
Interest on held to maturity bonds	(73)
Compensation in connection with the issuance of stock options	3,066	603
Non-cash interest expense	46	1
Gain on extinguishment of notes payable, net	(2,685)
Loss from disposal of fixed assets	25	113
Loss attributable to non-controlling interests	167	(66)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(11,122)	(11)
Prepaid inventory	(4,477)	(1,328)
Prepaid expenses and other receivables	(2,723)	79
Right of use assets, net	72
Accounts payable	86	61
Accrued expenses	12,841	505
Operating lease liabilities	(47)
Deferred revenue	57	(2,145)
Net cash used in operating activities	(13,837)	(7,898)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(1,102)	(77)
Purchase of held to maturity securities	(50,280)
Issuance of loan receivable	(483)
Cash paid for business combination, net of cash acquired		(1,096)
Net cash used in investing activities	(51,865)	(1,173)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of Preferred A Stock		10,000
Proceeds from IPO, net of fees	56,961
Proceeds from Secondary public offering, net of fees	79,839
Proceeds from exercise of options	721
Proceeds from exercise of warrants	5
Payments of financing leases	(94)
Minority interest in Valiant		40
Proceeds from PPP Loan		779
Proceeds from issuance of common stock		40
Net cash provided by financing activities	137,432	10,859
Net increase in cash	71,730	1,788
Cash – Beginning of period	8,111	206
Cash – End of period	79,841	1,994
Supplemental disclosures of non-cash investing activities:
Equipment sold for loan receivable to customer	$ 289

Nature of Business and Basis of

Nature of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Nature of Business and Basis of Presentation [Abstract]
Nature of Business and Basis of Presentation	Note 1 — Nature of Business and Basis of Presentation Description of Business Agrify Corporation (“Agrify” or the “Company”) is a developer of highly advanced and proprietary precision hardware and software grow solutions for the indoor agriculture marketplace. The Company was formed in the State of Nevada on June 6, 2016 as Agrinamics, Inc., and subsequently changed its name to Agrify Corporation. The Company is sometimes referred to herein by the words “we,” “us,” “our” and similar terminology. The Company has five wholly-owned subsidiaries, AGM Service Corp LLC (formerly AGM Service Corp Inc.), TriGrow Systems, LLC (“TriGrow”, which acted as our exclusive distributor and which was acquired in January 2020 as TriGrow Systems, Inc. and converted to TriGrow Systems, LLC in May 2020), Harbor Mountain Holdings, LLC (“HMH”, which assembled and produced many of our products and which was acquired in July 2020), Ariafy Finance, LLC and Agxion, LLC. The Company also owns 50% of Teejan Podponics International LLC (“TPI”) since December 2018; 60% of Agrify-Valiant, LLC, formed in December 2019; and 75% of Agrify Brands, LLC (formerly TriGrow Brands, LLC, which was part of the January 2020 acquisition of TriGrow). For further details about the January 2020 and July 2020 acquisitions, please refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the U.S. Securities and Exchange Commission (“SEC”) on April 2, 2021. Reverse Stock Split On January 12, 2021, the Company effected a 1-for-1.581804 reverse stock split. All share and per share information has been retroactively adjusted to give effect to the reverse stock split for all periods presented, unless otherwise indicated. Public Offerings On February 1, 2021, the Company consummated its initial public offering (“IPO”) of 5,400,000 shares of common stock at a price of $10.00 per share, less certain underwriting discounts and commissions. On February 4, 2021, the Company closed on the sale of an additional 810,000 shares of common stock on the same terms and conditions pursuant to the exercise of the underwriters’ over-allotment option. On February 19, 2021, the Company consummated a secondary public offering (the “February Offering”) of 5,555,555 shares of common stock for a price of $13.50 per share, less certain underwriting discounts and commissions. On March 22, 2021, the Company closed on the sale of an additional 833,333 shares of common stock on the same terms and conditions pursuant to the exercise of the underwriters’ over-allotment option. See Note 13 — Capital Structure for additional details. Coronavirus (“COVID-19”) pandemic The coronavirus (“COVID-19”) was first identified in people in late 2019. COVID-19 spread rapidly throughout the world and, in March 2020, the World Health Organization characterized COVID-19 as a pandemic. COVID-19 is a pandemic of respiratory disease spreading from person-to-person that poses a serious public health risk. It has significantly disrupted supply chains and businesses around the world. The extent and duration of the COVID-19 impact, on the operations and financial position of the Company and on the global economy, is uncertain. Uncertainty remains regarding the length of time it will take for the COVID-19 pandemic to subside, including the time it will take for vaccines to be broadly distributed and accepted in the United States and the rest of the world, and the effectiveness of such vaccines in slowing or stopping the spread of COVID-19 and mitigating the economic effects of the pandemic. The Company continues to service its customers amid uncertainty and disruption linked to COVID-19 and is actively managing its business to respond to the impact.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies Preparation of Condensed Consolidated Financial Statements The condensed consolidated financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and on the same basis as the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC, except for the recently adopted accounting pronouncements described below. The condensed consolidated statements of operations, stockholders’ equity, and cash flows for the three and six months ended June 30, 2021 and 2020, and the condensed consolidated balance sheet as of June 30, 2021, are not audited but reflect all adjustments that are of a normal recurring nature and that are considered necessary for a fair presentation of the results for the periods shown. The condensed consolidated balance sheet as of December 31, 2020 is derived from the audited consolidated financial statements presented in our Annual Report on Form 10-K for the year ended December 31, 2020. Certain information and disclosures normally included in annual consolidated financial statements have been omitted pursuant to the rules and regulations of the SEC. Because the condensed consolidated interim financial statements do not include all of the information and disclosures required by GAAP for a complete set of financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on April 2, 2021. The results for interim periods are not necessarily indicative of a full year’s results. Accounting for wholly-owned subsidiaries The accompanying consolidated financial statements include the accounts of Agrify Corporation and its wholly-owned subsidiaries, AGM Service Corp LLC, TriGrow Systems, Inc., Harbor Mountain Holdings, LLC, Ariafy Finance, LLC, and Agxion, LLC, in accordance with the provisions required by the Consolidation Topic 810 of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”). We include the results of operations of acquired companies from the date of acquisition. All significant intercompany transactions and balances are eliminated. Accounting for joint-venture subsidiary For the Company’s less than wholly owned subsidiaries, Agrify-Valiant, LLC, Agrify Brands, LLC and Teejan Podponics International LLC, the Company first analyzes whether these entities are a variable interest entity (a “VIE”) in accordance with ASC 810 and if so, whether the Company is the primary beneficiary requiring consolidation. A VIE is an entity that has (i) insufficient equity to permit it to finance its activities without additional subordinated financial support or (ii) equity holders that lack the characteristics of a controlling financial interest. VIEs are consolidated by the primary beneficiary, which is the entity that has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that potentially could be significant to the entity. Variable interests in a VIE are contractual, ownership or other financial interests in a VIE that change with changes in the fair value of the VIE’s net assets. The Company continuously re-assesses (i) whether the joint venture is a VIE, and (ii) if the Company is the primary beneficiary of the VIE. If it is determined that the joint venture qualifies as a VIE and the Company is the primary beneficiary, it is consolidated. Based on the Company’s analysis for these entities, the Company has determined that Agrify-Valiant, LLC and Agrify Brands, LLC are each a VIE and that the Company is the primary beneficiary. While the Company owns 60% of Agrify-Valiant, LLC’s equity interests and 75% of Agrify Brands, LLC’s equity interests, the remaining equity interests in Agrify-Valiant, LLC and Agrify Brands, LLC are owned by unrelated third parties, and the agreement with these third parties provides the Company with greater voting rights. Accordingly, the Company consolidates the financial statements of Agrify-Valiant, LLC and Agrify Brands, LLC under the VIE rules and reflects the third parties’ interests in the consolidated financial statements as a non-controlling interest. The Company records this non-controlling interest at its initial fair value, adjusting the basis prospectively for the third parties’ share of the respective consolidated investments’ net income or loss or equity contributions and distributions. These non-controlling interests are not redeemable by the equity holders and are presented as part of permanent equity. Income and losses are allocated to the non-controlling interest holders based on its economic ownership percentage. The investment in 50% of the shares of TPI is treated as an equity investment as the Company cannot exercise significant influence. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the accrual of expenses. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates. Fiscal Year The Company, and its Subsidiaries, fiscal year ends on December 31 of each year. Cash and Cash Equivalents Cash and cash equivalents consist principally of cash and deposits with maturities of three months or less as of June 30, 2021 and December 31, 2020. Concentration of Credit Risk and Significant Customer Financial instruments that potentially subject the Company to concentration of credit risk primarily consist of cash and accounts receivable. The Company places its cash with financial institutions in the United States. The cash balances are insured by the FDIC up to $250 per depositor with unlimited insurance for funds in noninterest-bearing transaction accounts through June 30, 2021. At times, the amounts in these accounts may exceed the federally insured limits. The Company has certain customers whose revenue individually represented 10% or more of the Company’s total revenue, or whose accounts receivable balances individually represent 10% or more of the Company’s total accounts receivable. For the three months and six months ended June 30, 2021, one customer accounted for 92.1% and 86.8% of revenue, respectively. For the three months and six months ended June 30, 2020, one customer accounted for 80.5% and 81.3% of revenue, respectively. At June 30, 2021 and 2020, two customers accounted for 88.2% and three different customers accounted for 54.2% of accounts receivable, respectively. Research and Development Costs The Company expenses research and development costs as incurred. During the three and six months ended June 30, 2020, the Company expensed $43 and $705, respectively, related to development of hardware solution for deployment of rapid grow solution During the three and six months ended June 30, 2020, the Company expensed additional costs of $107 related to research and development facility. Shipping and Handling Charges The Company incurs costs related to shipping and handling of its manufactured products. These costs are expensed as incurred as a component of cost of sales. Shipping and handling charges related to the receipt of raw materials are also incurred, which are recorded as a cost of the related inventory. Subsequent Events The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements, except as disclosed.

Recently Adopted Accounting Pro

Recently Adopted Accounting Pronouncements	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements	Note 3 — Recently Adopted Accounting Pronouncements In June 2016, the FASB issued Accounting Standard Update (“ASU”) No. 2016-13, Financial Instruments — Credit Losses (Topic 326) — Measurement of Credit Losses on Financial Instruments. This new standard requires entities to measure expected credit losses for certain financial assets held at the reporting date using a current expected credit loss model, which is based on historical experience, adjusted for current conditions and reasonable and supportable forecasts. The Company’s financial instruments within the scope of this guidance primarily includes accounts receivable, loans, held-to-maturity debt securities, and net investments in leases. In November 2019, the FASB issued ASU No. 2019-10, changing effective dates for the new standards to give implementation relief to certain types of entities. The Company is required to adopt the new standards no later than January 1, 2023 according to ASU 2019-10, with early adoption allowed. The adoption of this new accounting guidance had no impact on the Company’s consolidated financial position. In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new standard requires capitalized costs to be amortized on a straight-line basis generally over the term of the arrangement, and the financial statement presentation for these capitalized costs would be the same as that of the fees related to the hosting arrangements. The Company adopted this standard effective January 1, 2020, using a prospective approach. The adoption of this new standard did not have a material impact on the Company’s consolidated financial statements. Subsequent impact will depend on the magnitude of implementation costs to be incurred. Implementation costs capitalized subsequent to adoption will be recognized in operating expenses in the statements of operations over the noncancelable period of the hosting arrangement plus any renewal periods reasonably certain to be taken.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note 4 — Revenue Recognition We generate revenue from the following sources: (1) equipment sales, (2) services sales and (3) construction contracts. We sell our equipment and services to customers under a combination of a contract and purchase order. Equipment revenue includes sales from proprietary products designed and engineered by the Company such as Agrify Vertical Farming Units (“AVFUs”), container farms, integrated grow racks, and LED grow lights, and non-proprietary products designed, engineered, and manufactured by third parties such as air cleaning systems and pesticide-free surface protection. Construction contracts normally provide for payment upon completion of specified work or units of work as identified in the contract. Although there is considerable variation in the terms of these contracts, they are primarily structured as fixed-price contracts, under which the Company agrees to do the entire project for a fixed amount. The Company also enters time-and-materials contracts under which the Company is paid for labor and equipment at negotiated hourly billing rates and for other expenses, including materials, as incurred at rates agreed to in the contract. The Company uses two main sub-contractors to execute the construction contracts. Disaggregation of Revenue — Three Months ended Six Months ended 2021 2020 2021 2020 Transferred at a point in time $ 1,124 $ 3,558 $ 1,353 $ 4,571 Transferred over time 10,701 350 17,480 350 $ 11,825 $ 3,908 $ 18,833 $ 4,921 The Company generally provides a one-year warranty on its products for materials and workmanship but may provide multiple year warranties as negotiated, and will pass on the warranties from its vendors, if any, which generally covers this one-year period. In accordance with ASC 450-20-25, the Company accrues for product warranties when the loss is probable and can be reasonably estimated. At June 30, 2021, the Company has no product warranty accrual given the Company’s de minimis historical financial warranty experience.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value	Note 5 — Fair Value Fair Values of Assets and Liabilities We measure fair value at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the assumptions that market participants would use in pricing an asset or liability (the inputs) are based on a tiered fair value hierarchy consisting of three levels, as follows: Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets. Level 2: Other inputs that are observable directly or indirectly, such as quoted prices for similar instruments in active markets or for similar markets that are not active. Level 3: Unobservable inputs for which there is little or no market data which require us to develop our own assumptions about how market participants would price the asset or liability. Valuation techniques for assets and liabilities include methodologies such as the market approach, the income approach or the cost approach, and may use unobservable inputs such as projections, estimates and management’s interpretation of current market data. These unobservable inputs are only utilized to the extent that observable inputs are not available or cost-effective to obtain. At June 30, 2021 and December 30, 2020, our assets and liabilities measured at fair value on a recurring basis were as follows: June 30, 2021 December 30, 2020 Fair Value Measurements Using Input Types Fair Value Measurements Using Input Types Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in thousands) Assets Mutual funds (included in cash and cash equivalents) $ 72,612 $ - $ - $ 72,612 $ - $ - $ - $ - Held to maturity securities-current Municipal bonds 14,960 - - 14,960 - - - - Corporate bonds 20,970 - - 20,970 - - - - Total held to maturity securities- current $ 35,930 $ - $ - $ 35,930 $ - $ - $ - $ - Held to maturity securities-non-current Municipal bonds 6,478 - - 6,478 - - - - Corporate bonds 7,882 - - 7,882 - - - - Total held to maturity securities- non -current $ 14,360 $ - $ - $ 14,360 $ - $ - $ - $ - Loan receivable $ - $ - $ 886 $ 886 $ - $ - $ - $ - Total assets $ 122,902 $ - $ 886 $ 123,788 $ - $ - $ - $ - Liabilities Notes payables, net of discount $ - $ - $ - $ - $ - $ - $ 12,493 $ 12,493 Derivative liabilities $ - $ - $ - $ - $ - $ - $ 7,141 $ 7,141 Long term debt $ - $ - $ 833 $ 833 $ - $ - $ 829 $ 829 Total liabilities $ - $ - $ 833 $ 833 $ - $ - $ 20,463 $ 20,463 Fair Value of Financial Instruments We have certain financial instruments which consist of cash and cash equivalents, marketable securities, accounts receivable, loan receivable, accounts payable, notes payable, derivative liabilities, deferred revenue and long-term debt. Fair value information for each of these instruments is as follows: • Cash and cash equivalents, accounts receivable, accounts payable and deferred revenue liabilities fair values approximate their carrying values, due to the expected duration of these instruments. • Marketable securities classified as held to maturity, both current and non-current, are recorded at amortized cost, which at June 30, 2021, approximated fair value. • Loan receivable is recorded at amounts borrowed, which at June 30, 2021, approximated fair value. • We had certain derivative instruments accounted for at fair value. We held a convertible promissory note with a preferential conversion feature which qualifies as a derivative instrument. The fair value assumptions consider the nature of the conversion feature and the expected timeline to a qualifying conversion event. • We have borrowings of $833 and $829 as of June 30, 2021 and December 30, 2020, respectively. The fair value of these borrowings, which are classified as Level 3, approximates their carrying value at June 30, 2021 as the instrument carries a fixed rate of interest. Marketable Securities As of June 30, 2021, the Company held investments in mutual funds, municipal bonds and corporate bonds. The mutual funds are recorded at fair value in the accompanying consolidated balance sheet as part of cash and cash equivalents. The municipal and corporate bonds are considered held-to-maturity and are recorded at amortized cost in the accompanying consolidated balance sheet. The fair values of these investments were estimated using recently executed transactions and market price quotations. We consider as current assets those investments which will mature in the next 12 months including interest receivable on the long-term bonds. The remaining investments are considered non-current assets we intend to hold longer than 12 months. The composition of the Company’s cash and cash equivalents and marketable securities are as follows: June 30, December 31, Cash and cash equivalents: Cash deposits $ 7,229 $ 8,111 Mutual funds 72,612 — Total cash and cash equivalents $ 79,841 $ 8,111 Current marketable securities: Municipal bonds $ 14,960 $ — Corporate bonds 20,970 — Total current marketable securities $ 35,930 $ — Non-current marketable securities: Municipal bonds $ 6,478 $ — Corporate bonds 7,882 — Total non-current marketable securities $ 14,360 $ — The amortized cost and estimated fair value of held-to-maturity securities as of June 30, 2021, are as follows: Amortized cost Unrealized loss Estimated fair value Current marketable securities (due within 1 year) Municipal bonds $ 14,960 $ (5 ) $ 14,955 Corporate bonds 20,970 (28 ) 20,942 $ 35,930 $ (33 ) $ 35,897 Non-current marketable securities (due in 1 year through 5 years) Municipal bonds $ 6,478 $ (6 ) $ 6,472 Corporate bonds 7,882 (19 ) 7,863 $ 14,360 $ (25 ) $ 14,335

Loan Receivable

Loan Receivable	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Loan Receivable	Note 6 — Loan Receivable On May 6, 2021, the Company entered into definitive agreements with a customer to provide a secured bridge loan to that customer for working capital purposes in an amount of up to $820 at an interest rate of 18% per annum with maturity date of August 13, 2021. The bridge loan is secured by all of the customer’s assets. On June 30, 2021, the outstanding balance of the bridge loan was rolled into a Construction Loan (as discussed below). On May 10, 2021, the Company entered into several definitive agreements with the customer for (1) facility build-out services in the amount of up to $2,500, (2) leasing of 60 AVFUs and other cultivation equipment, (3) subscription to Agrify Insights software, and (4) other business consultation services. The facility build-out is financed through construction loan advances which bear interest at a rate of 18% per annum, has a maturity date of 24 months from the date the customer commences commercial sales of its products from the AVFUs and is secured by a lien on all of the customer’s assets (“Construction Loan”). The equipment lease was for a term of 10 years. The customer will pay monthly rent based on production from the Company’s AVFUs. The subscription for Agrify Insights software and consultation services will be provided for a term of 10 years, for monthly fixed fees. As of June 30, 2021, the Company has not commenced any lease, subscription or consultation services with the customer. As of June 30, 2021, the customer’s draw-down of principal amount plus accrued interest under the bridge loan of $748 was rolled into the Construction Loan. In addition, on June 30, 2021, the Company agreed to make subsequent construction loans to the customer on similar terms to the existing Construction Loan for future construction needs subject to completion of planning and finalization of definitive documentation, which loans will bear interest at a rate of 12% per annum and have a maturity date of 36 months from the commencement of commercial sale of products harvested from the AVFUs to be installed in connection with the new construction phase. As of June 30, 2021, the amount drawn under the Construction Loan is $955 (including the rolled over bridge loan) and is offset by deferred revenue related to the same customer. Amount receivable from the customer presented in the consolidated balance sheet as non-current loan receivable, net of an allowance for $69, amounted to $886. Two of the Company’s employees own 36.6% of the customer’s equity. The Company analyzed whether the customer is a variable interest entity (a “VIE”) in accordance with ASC 810 and if so, whether the Company is the primary beneficiary requiring consolidation. Based on the Company’s analysis, the Company has determined that the customer is a VIE but since the Company is not the primary beneficiary of the customer, the Company is not required to consolidate the customer.

Prepaid Expenses and Other Rece

Prepaid Expenses and Other Receivables	6 Months Ended
	Jun. 30, 2021
Prepaid Expenses and Other Receivables [Abstract]
Prepaid Expenses and Other Receivables	Note 7 — Prepaid Expenses and Other Receivables Prepaid Expenses and Other Receivables consisted of the following as of June 30, 2021 and December 31, 2020: June 30, December 31, Other Receivables $ 85 $ 168 Prepaid software 76 48 Prepaid insurance 1,587 — Construction deposits 1,143 — Prepaid expenses 183 148 $ 3,074 $ 364

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Note 8 — Property and Equipment, Net Property and equipment, net consisted of the following as of June 30, 2021 and December 31, 2020: June 30, December 31, Computer equipment $ 240 $ 128 Furniture and fixture 83 16 Leasehold Improvements 264 10 Machinery 866 868 Vehicle 62 62 Leased equipment at customer 700 — Total property and equipment 2,215 1,084 Less accumulated depreciation (379 ) (211 ) Property and Equipment, Net $ 1,836 $ 873 Depreciation expense for the three months ended June 30, 2021 and 2020 was $109 and $19, respectively, and $199 and $38 during the six months ended June 30, 2021 and 2020 respectively.

Capitalized Website Costs, Net

Capitalized Website Costs, Net	6 Months Ended
	Jun. 30, 2021
Capitalized Website Costs Net [Abstract]
Capitalized website costs, net	Note 9 — Capitalized website costs, net Investments in the Company’s website are amortized over their estimated useful lives of 3 years. As of June 30, 2021 and December 31, 2020, amortizable website cost was $139, and accumulated amortization was $69 and $48, respectively. Amortization expense was $10 for the three months ended June 30, 2021 and 2020, and $21 and $20 for the six months ended June 30, 2021 and 2020, respectively.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Note 10 — Intangible Assets and Goodwill Acquired intangible assets are initially recorded at fair value and tested periodically for impairment. Goodwill represents the excess of the purchase price over the fair value of identifiable tangible and intangible assets acquired and liabilities assumed in a business combination and is tested at least annually for impairment. The Company performs an impairment test of goodwill during the fourth quarter of each year or sooner, if indicators of potential impairment arise. There were no such indicators in the three and six months ended June 30, 2021. The breakdown of acquisition-related intangible assets as of December 31, 2020 was as follows: Brand Customer Total December 31, 2020 Cost $ 930 $ 850 $ 1,780 Accumulated amortization (88 ) (89 ) (177 ) Net $ 842 $ 761 $ 1,603 The breakdown of acquisition-related intangible assets as of June 30, 2021 was as follows: Brand Customer Total June 30, 2021 Cost $ 930 $ 850 $ 1,780 Accumulated amortization (134 ) (136 ) (270 ) Net $ 796 $ 714 $ 1,510 Amortization expenses recorded in selling general and administrative in the income statement were $47 and $48 for the three months ended June 30, 2021 and 2020, respectively, and $94 and $83 during the six months ended June 30, 2021 and 2020, respectively. Estimated amortization expense for the remainder of 2021 and subsequent years for acquired intangible assets: (in thousands) Amount Remaining 2021 $ 94 2022 187 2023 187 2024 187 2025 187 2026 and thereafter 668 Total $ 1,510 Goodwill balance as of June 30, 2021 and December 31, 2020 was $632.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Accrued Expenses	Note 11 — Accrued Expenses Accrued expenses consisted of the following as of June 30, 2021 and December 31, 2020: June 30, December 31, Accrued professional fees $ 382 $ 1,135 Accrued consulting fees 167 97 Compensation related fees 847 225 Accrued construction costs 15,572 4,468 Financing lease liabilities 154 148 Operating lease liabilities 294 — Accrued inventory purchases 992 164 Other accrued expenses 416 313 Total accrued expenses $ 18,824 $ 6,550

Convertible Promissory Notes

Convertible Promissory Notes	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Convertible Promissory Notes	Note 12 — Convertible Promissory Notes On January 11, 2021, the Company’s Board of Directors and shareholders approved the amendment to the conversion formula of the Convertible Promissory Notes (the “Notes”) issued by the Company on dates between August 2020 and November 2020. Pursuant to the amendment, immediately prior to the consummation of a public transaction, the outstanding principal amount of the Notes, together with all accrued and unpaid interest, shall convert into a number of fully paid and non-assessable shares of common stock, at a conversion price of $7.72. While the original conversion feature was bifurcated from the host instrument, the Company determined that the amended conversion feature would not require bifurcation. Since the accounting for the conversion feature changed because of the amendment, the Company applied extinguishment accounting pursuant to its accounting policy. Accordingly, the Company recognized a gain on extinguishment of $2,685 in connection with the derecognition of the net carrying amount of the extinguished debt of $19,654 (inclusive of $13,100 of principal, $7,141 of derivative liabilities, less $587 of debt discount) and the recognition of the $16,969 fair value of the new convertible notes (including the same principal amount of $13,100 plus the $3,869 fair value of the beneficial conversion feature). On February 1, 2021, in conjunction with the closing of the Company’s IPO, the Notes in the aggregate principal amount of $13,100 were converted into 1,697,075 shares of common stock at the election of the Company at a conversion price of $7.72 per share.

Capital Structure

Capital Structure	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Capital Structure	Note 13 — Capital Structure On January 9, 2020, the Company increased its authorized number of shares to 53,000,000, consisting of: 50,000,000 shares of common stock, par value $0.001 per share, and 3,000,000 shares of preferred stock, par value $0.001 per share. At that time, it also designated 100,000 shares of the 3,000,000 authorized shares of preferred stock, par value $0.001 per share, as Series A Convertible Preferred Stock (“Series A Preferred Stock”). Series A Convertible Preferred Stock Beginning in the first quarter of 2020, we issued an aggregate of 60,000 shares of our Series A Preferred Stock, for an aggregate purchase price of $6,000. In May 2020, we completed our offering of Series A Preferred Stock with the issuance of an additional 40,000 shares of Series A Preferred Stock for an aggregate purchase price of $4,000. Amendment of conversion formulas On January 11, 2021, the Company’s Board of Directors approved the amendment to the conversion formula of the Series A Preferred Stock and Notes. After the amendment: 1. the Series A Preferred Stock is convertible, at any time after issuance or immediately prior to the closing of a public transaction, into common stock in an amount of shares equal to (i) the product of the Series A Preferred Stock original price plus accrued but unpaid dividends on the shares being converted, multiplied by the number of shares of Series A Preferred Stock being converted, divided by (ii) a conversion price of $7.72 per share (after the reverse split taking effect) and 2. immediately prior to the consummation of a public transaction, the outstanding principal amount of the Notes together with all accrued and unpaid interest shall convert into a number of fully paid and non-assessable shares of common stock equal to the quotient of (i) the outstanding principal amount of the Notes together with all accrued and unpaid interest thereunder immediately prior to such public transaction divided by (ii) a conversion price of $7.72 (after the reverse split taking effect). On January 11, 2021, the Company’s shareholders approved the amendment to the Series A Preferred Stock. Initial Public Offering On February 1, 2021, the Company completed an initial public offering (“IPO”) for the sale of 5,400,000 shares of common stock at a price of $10.00 per share. The Company also granted the underwriters: (a) a 45-day option to purchase up to 810,000 additional shares of common stock on the same terms and conditions for the purpose of covering any over-allotments in connection with the IPO, and (b) warrants to purchase 162,000 shares of common stock (equal to 3% of the aggregate number of shares of common stock issued in the IPO) at an exercise price of $12.50 per share (which is equal to 125% of the IPO price). Subsequently, the underwriters exercised the over-allotment option, and on February 4, 2021, the Company closed on the sale of an additional 810,000 shares of common stock for a price of $10.00 per share and granted to the underwriters warrants to purchase 24,300 additional shares of common stock (equal to 3% of the amount of shares issued as part of the exercised of the over-allotment option) at an exercise price of $12.50 per share. The exercise of the over-allotment option brought the total number of shares of common stock sold by the Company in connection with the IPO to 6,210,000 shares and the total net proceeds received in connection with the IPO to approximately $57 million, after deducting underwriting discounts and estimated offering expenses. Immediately prior to the closing of our IPO, all outstanding shares of Series A Preferred Stock and Notes were converted into 1,373,038 shares of common stock and 1,697,075 shares of common stock, respectively, at a conversion price of $7.72 per share. Subsequent Public Offering On February 19, 2021, the Company consummated a secondary public offering (the “February Offering”) for the sale of 5,555,555 shares of common stock for a price of $13.50 per share. The Company also granted the underwriters: (a) a 45-day option to purchase up to 833,333 additional shares of common stock on the same terms and conditions for the purpose of covering any over-allotments in connection with the February Offering, and (b) warrants to purchase 166,667 shares of common stock (equal to 3% of the aggregate number of shares of common stock issued in the February Offering) at an exercise price of $16.875 per share (which is equal to 125% of the February Offering). Subsequently, the underwriters exercised the over-allotment option, and on March 22, 2021, the Company closed on the sale of an additional 833,333 shares of common stock for a price of $13.50 per share and granted to the underwriters warrants to purchase 25,000 additional shares of common stock (equal to 3% of the amount of shares issued as part of the exercised of the over-allotment option) at an exercise price of $16.875 per share. The exercise of the over-allotment option brought the total number of shares of common stock sold by the Company in connection with the February Offering to 6,388,888 shares and the total net proceeds received in connection with the February Offering to approximately $80 million, after deducting underwriting discounts and estimated offering expenses. Stock Option Plan On June 4, 2019, the Company adopted and approved the 2019 Stock Option Plan (the “2019 Plan”) which provided for the issuance of 1,743,744 shares of our common stock. On August 10, 2020 and October 8, 2020, the Company’s board of directors and stockholders, respectively, approved an increase to the maximum number of shares of common stock authorized for issuance over the term of the 2019 Plan from 1,743,744 shares to 3,355,083 shares. As of June 30, 2021, there are no shares available to be granted under the 2019 Plan. Prior to the consummation of the Company’s IPO, the Company cancelled the 2019 Plan and converted these stock options to the 2020 Plan, as more fully described below. Under the 2019 Plan, the standard vesting schedule provided that 25% of the options vest 12 months following issuance and the balance vests in 36 equal monthly installments thereafter. However, the Company’s board of directors was permitted to provide for alternative or accelerated vesting schedules in approving each stock option grant. In many cases, the Company’s board of directors included an accelerated vesting schedule under which 50% of the stock options granted vest immediately prior to a change of control transaction or the Company’s first underwritten public offering. 2020 Omnibus Equity Incentive Plan On December 18, 2020, the Company’s board of directors, and on January 11, 2021, the Company’s stockholders, adopted and approved the 2020 Omnibus Equity Incentive Plan (the “2020 Plan”), which replaced the 2019 Plan. The 2020 Plan provides for the grant of stock options, SARs, performance share awards, performance unit awards, distribution equivalent right awards, restricted stock awards, restricted stock unit awards and unrestricted stock awards to non-employee directors, officers, employees and nonemployee consultants of the Company or its affiliates. The aggregate number of shares of common stock that may be reserved and available for grant and issuance under the 2020 Plan is 4,533,732 shares. Shares will be deemed to have been issued under the 2020 Plan solely to the extent actually issued and delivered pursuant to an award. If any award granted under the 2019 Plan or the 2020 Plan expires, is cancelled, or terminates unexercised or is forfeited, the number of shares subject thereto is again available for grant under the 2020 Plan. The 2020 Plan shall continue in effect, unless sooner terminated, until the tenth (10 th On January 24, 2021, the Company’s Board of Directors approved grants of options to purchase an aggregate of 144,360 shares of common stock to its directors. The options will expire 10 years from the date of grant and have an exercise price per share of $4.86. 25% of the options vest 12 months following issuance and the balance vests in 36 equal monthly installments thereafter. On February 17, 2021, the Company’s Board of Directors approved grants of options to purchase an aggregate of 1,050,000 shares of common stock to its directors and employees. The options will expire 10 years from the date of grant and have an exercise price per share of $13.84. The options vest in 36 equal monthly installments from the date of grant. On February 18, 2021, the Company’s Board of Directors approved grants of options to purchase an aggregate of 10,000 shares of common stock to members of the Company’s Board of Advisors. The options will expire 10 years from the date of grant and have an exercise price per share of $14.49. The options were fully vested on the date of grant. On May 16, 2021, the Company’s Board of Directors approved grants of options to purchase an aggregate of 219,083 shares of common stock to its employees. The options will expire 10 years from the date of grant and have an exercise price per share of $7.68. 33.3% of the options vest 12 months following issuance and the balance vests in 24 equal monthly installments thereafter. The Company’s stock option compensation expense was $931 and $542 for the three months ended June 30, 2021 and 2020, respectively, and $3,066 and $603 for the six months ended June 30, 2021 and 2020, respectively. There was $10,125 of total unrecognized compensation cost related to unvested options granted under the Company’s options plans as of June 30, 2021. This stock option expense will be recognized through 2025. The fair value of each option is estimated on the date of grant using the Black-Scholes option-pricing model. This model incorporates certain assumptions for inputs including a risk-free market interest rate, expected dividend yield of the underlying common stock, expected option life and expected volatility in the market value of the underlying common stock. The following table summarizes the Company’s assumptions used in the valuation of options granted during the six months ended June 30, 2021: Volatility 40 % Risk-free interest rate 1.10% – 1.63 % Dividend yield 0.00 % 0% Expected life (years) 10 Forfeiture rate 0.00 % The Black-Scholes option-pricing model was developed for use in estimating the fair value of traded options, which have no vesting restrictions and are fully transferable. In addition, option valuation models require the input of highly subjective assumptions including the expected stock price volatility. Because the Company’s stock options and warrants have characteristics different from those of its traded stock, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management’s opinion, the existing models do not necessarily provide a reliable single measure of the fair value of such stock options. The risk-free interest rate is based upon quoted market yields for United States Treasury debt securities with a term similar to the expected term. The expected dividend yield is based upon the Company’s history of having never issued a dividend and management’s current expectation of future action surrounding dividends. The Company calculates the expected volatility of the stock price based on the corresponding volatility of the Company’s peer group stock price for a period consistent with the underlying instrument’s expected term. The expected lives for such grants were based on the simplified method for employees and directors. In arriving at stock-based compensation expense, the Company estimates the number of stock-based awards that will be forfeited due to employee turnover. The Company’s forfeiture assumption is based primarily on its turn-over historical experience. If the actual forfeiture rate is higher than the estimated forfeiture rate, then an adjustment will be made to increase the estimated forfeiture rate, which will result in a decrease to the expense recognized in the Company’s financial statements. If the actual forfeiture rate is lower than the estimated forfeiture rate, then an adjustment will be made to lower the estimated forfeiture rate, which will result in an increase to expense recognized in the Company’s financial statements. The expense the Company recognizes in future periods will be affected by changes in the estimated forfeiture rate and may differ significantly from amounts recognized in the current period. As of June 30, 2021, there were 311,244 shares available to be granted under the Company’s 2020 Plan. The following table presents option activity under the Company’s stock option plans for the six months ended June 30, 2021 and 2020: Number of Weighted Aggregate Options outstanding at January 1, 2020 493,102 $ 3.16 Granted 1,622,719 2.31 Exercised — — Forfeited (502,301 ) 2.96 Expired (108,057 ) 3.16 Options outstanding at June 30, 2020 1,505,463 $ 2.31 $ — Options outstanding at January 1, 2021 3,133,109 3.51 Granted 1,420,017 12.00 Exercised (252,788 ) 2.84 Forfeited (326,603 ) 3.74 Expired (4,076 ) 2.28 Options outstanding at June 30, 2021 3,969,659 $ 6.57 $ — Options vested and exercisable as of June 30, 2020 289,530 $ 2.33 Options vested and exercisable as of June 30, 2021 1,801,684 $ 4.19 The following table summarizes information about options vested and exercisable at June 30, 2021: Options vested and exercisable Price Number of Weighted average Weighted average $ 2.28 906,769 8.59 $ 2.28 $ 4.86 769,641 9.09 $ 4.86 $ 13.84 115,274 9.63 $ 13.84 $ 14.49 10,000 9.64 $ 14.49 The following table summarizes information about options expected to vest after June 30, 2021: Options expected to vest Price Number of Weighted average Weighted average $ 2.28 389,677 8.89 $ 2.28 $ 4.86 624,493 9.35 $ 4.86 $ 7.68 219,083 9.69 $ 7.68 $ 13.84 934,726 9.63 $ 13.84

Employee Benefit Plan

Employee Benefit Plan	6 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Employee Benefit Plan	Note 14 — Employee Benefit Plan The Company maintains an employee’s savings and retirement plan under Section 401(k) of the Internal Revenue Code. All full-time U.S. employees become eligible to participate in the plan. The Company’s contribution to the plan is discretionary and during the three and six months ended June 30, 2021 and 2020, the Company did not contribute to the plan.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	Note 15 — Net Loss Per Share Net loss per share calculations for all periods have been adjusted to reflect the reverse stock split effected on January 12, 2021. Net loss per share was calculated based on the weighted average number of common stock then outstanding. Basic net loss per share is calculated using the weighted-average number of common shares outstanding during the periods. Net loss per share, assuming dilution, is calculated using the weighted-average number of common shares outstanding and the dilutive effect of all potentially dilutive securities, including common stock equivalents and convertible securities. Net loss per share, assuming dilution, is equal to basic net loss per share because the effect of dilutive securities outstanding during the periods, including options and warrants computed using the treasury stock method, is anti-dilutive. The components of basic and diluted net loss per share were as follows (in thousands, except share and per share data): Three Months ended Six Months ended 2021 2020 2021 2020 Numerator: Net loss attributable to Agrify Corporation $ (5,636 ) $ (2,444 ) (9,446 ) (5,857 ) Accrued dividend attributable to Preferred A Stockholders — (104 ) (61 ) (189 ) Net loss available for common shareholders $ (5,636 ) $ (2,548 ) (9,507 ) (6,046 ) Denominator: Weighted-average common shares outstanding – basic and diluted 20,344,278 4,211,677 16,661,948 4,139,691 Net loss per share attributable to common stockholders – basic and diluted $ (0.28 ) $ (0.60 ) $ (0.57 ) $ (1.46 ) During each of the three and six months ended June 30, 2021 and 2020, we excluded the following securities from net loss per share as the effect of including them would have been anti-dilutive. The shares shown represent the number of shares of common stock which would be issued upon conversion in the respective years shown below: Three and Six Months ended 2021 2020 Options outstanding 3,969,659 1,505,463 Warrants outstanding 965,907 — 4,935,566 1,505,463

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 16 — Commitments and Contingencies Leases The determination if any arrangement contained a lease at its inception was done based on whether or not the Company has the right to control the asset during the contract period. The lease term was determined assuming the exercise of options that were reasonably certain to occur. Leases with a lease term of 12 months or less at inception were not reflected in our balance sheet and those lease costs are expensed on a straight-line basis over the respective term. Leases with a term greater than 12 months were reflected as non-current right-of-use (ROU) assets and current and non-current lease liabilities in our consolidated balance sheets. Current lease liabilities were classified as a component of accrued expenses and other current liabilities. As the implicit interest rate in our leases was generally not known, we used our incremental borrowing rate as the discount rate for purposes of determining the present value of our lease liabilities. At June 30, 2021, our weighted average discount rate utilized for our leases was 8.04%. When a contract contained lease and non-lease elements, both were accounted as a single lease component. The Company had several non-cancellable finance leases for machinery and equipment. During the six months ended June 30, 2021, the Company entered into several leases for premises in Georgia and one office space lease in Billerica, Massachusetts. Those leases had terms of more than a year and were accounted as operating leases. On February 5, 2021, the Company executed a sixty-two-month lease for office spaces in Billerica, MA. The Company will spend $193 on leasehold improvements and plans to occupy the space beginning June 1, 2021, which is when the lease will commence. The minimum lease liability for the initial lease term amounts to $530 (base lease and other operating fees). The Company has an option to extend the initial lease term by an additional five-year term. Additional information of our lease activity, for the three and six months ended June 30, 2021 and 2020, is as follows: Three Months ended Six Months ended 2021 2020 2021 2020 Operating lease cost $ 70 $ — $ 84 $ — Finance lease cost: Amortization of right-of-use assets 45 — 90 — Interest on lease liabilities 11 — 22 — Short-term lease cost — 60 — 103 Total lease cost $ 126 $ 60 $ 196 $ 103 June 30, June 30, Weighted-average remaining lease term – operating leases 3.38 years — Weighted-average remaining lease term – finance leases 3.51 years — Weighted-average discount rate – operating leases 8.02 % — Weighted-average discount rate – finance leases 8.08 % — June 30, December 31, Right-of-use assets, net $ 1,283 $ 544 Operating lease liabilities, current 294 — Operating lease liabilities, non- current 548 — Total operating lease liabilities $ 842 $ — Finance lease liabilities, current $ 154 $ 148 Finance lease liabilities, non- current 356 434 Total operating lease liabilities $ 510 $ 582 As of June 30, 2021, the maturities of lease liabilities under non-cancellable finance leases were as follows: Operating Finance Total For the year ending December 31, 2021 $ 170 $ 95 $ 265 2022 359 181 540 2023 166 154 320 2024 105 91 196 2025 107 50 157 Thereafter 63 16 79 Total minimum lease payments 970 587 1,557 Less imputed interest (128 ) (77 ) (205 ) Total lease liabilities $ 842 $ 510 $ 1,352 Legal Proceedings On January 5, 2021, the Company received a demand letter from Nicholas Cooper and Richard Weinstein (two of the Company’s former employees) and one of Mr. Cooper’s affiliated entities, asserting that Messrs. Cooper and Weinstein were entitled to compensation arising out of their employment by the Company, and their partial ownership of TriGrow Systems, Inc. The demand letter asserts that the former employees are due certain sales commissions under their applicable bonus plan, equity earn-outs based on certain sales targets, and various equity purchases through our employee stock ownership plan. The demand letter also asserts various employment claims, including but not limited to, statutory wage withholding violations, wrongful termination, breach of contract, breach of the duty of good faith and fair dealing, fraud in the inducement, promissory estoppel, minority shareholder oppression, breach of fiduciary duty, unjust enrichment, and violations of state and federal securities laws. On January 19, 2021, Messrs. Cooper and Weinstein filed a lawsuit against the Company in the United States District Court for the Western District of Washington, alleging the same claims made in their demand letter based on the facts disclosed above. The plaintiffs are seeking relief in the form of monetary damages in an amount to be determined. Messrs. Cooper and Weinstein are also seeking relief in the form of reinstatement and Mr. Weinstein is seeking rescission of his Release of Claims Agreement. On March 10, 2021, the Company moved to dismiss all Cooper and Weinstein’s claims, asserting that the claims failed to allege legal grounds for relief. On May 12, 2021, a Magistrate issued a preliminary Report and Recommendation, which recommended dismissal of certain of Cooper and Weinstein’s claims, and recommended others for additional factual discovery. On July 27, 2021, a District Judge entered an order partially adopting the Report and Recommendation, dismissing one claim with prejudice, dismissing a second claim with leave to amend, and permitting the remaining claims to proceed. The Company does not believe these claims have any merit and intend to vigorously defend against them. Additionally, on July 29, 2021, the Company filed a separate arbitration in Boston, Massachusetts against Cooper and Weinstein, in which the Company alleges that Cooper and Weinstein were liable for certain conduct during the time they were TriGrow employees, including breach of fiduciary duty, unjust enrichment, usurpation of corporate opportunity, conversion, fraudulent concealment, and false representation. Also on July 29, 2021, the Company submitted a claim for indemnification to certain legacy TriGrow Systems, Inc. shareholders (the “Indemnifying Stockholders”). The claim for indemnification relates to conduct by Cooper and Weinstein during the time they were TriGrow employees. Supply agreement with Mack Molding Co. In December 2020, the Company entered into a five-year supply agreement with Mack Molding Co. (“Mack”) pursuant to which Mack will become a key supplier of our AVFUs. In February 2021, the Company placed a purchase order with Mack amounting to approximately $5,200 towards initial production of AVFUs during 2021. In June 2021, the Company increased the purchase order with Mack to approximately $11,500 towards production of AVFUs during 2021 and 2022. We believe the supply agreement with Mack will provide us with increased scaling capabilities and the ability to more efficiently meet the potential future demand of our customers. The supply agreement contemplates that, following an introductory period, we will negotiate a minimum percentage of our AVFU requirements that we will purchase from Mack each year based on the agreed upon pricing formula. The introductory period is not time-based but rather refers to the production of an initial number of units after which the parties have rights to adjust pricing and negotiate a certain minimum requirements percentage. We believe this approach will result in both parties making a more informed decision with respect to the pricing and other terms of the supply agreement with Mack. Distribution Agreements with Related Parties On June 7, 2019, the Company entered into a distribution agreement with Bluezone Products, Inc. (“Bluezone”) for distribution rights to the Bluezone products with certain exclusivity rights. The agreement requires minimum purchases amounting to $480 and $600 for the first and second contract anniversary years. The agreement auto renews for successive one-year periods unless earlier terminated. In March 2021, the Company notified Bluezone of non-renewal of the agreement which means it will end on May 31, 2021. The Company exceeded the minimum purchase amount for the first year and purchased approximately $532 of the committed $660 second year purchases through June 30, 2021. Bluezone is a related party to the Company. On March 9, 2020, the Company entered into a distribution agreement with Enozo Technologies Inc. (“Enozo”), for an initial term of five years with auto renewal for successive one-year periods unless earlier terminated. The agreement contains the following minimum purchases to retain exclusive distributor status for one of our products: for the period from the contract date until December 31, 2021 for $375, for the year ended December 31, 2022 for $750, and for the year ended December 31, 2023 for $1,125, which amount may increase by 3% for the later years. The Company had no purchases of that Enozo product during the six months ended June 30, 2021 and 2020. Enozo is a related party to the Company. Committed Purchase Agreement with Related party On July 28, 2020, the Company entered into a purchase agreement with 4D Bios (“4D”) to secure purchases of horticultural equipment. The agreement requires minimum purchases of between $577 and $607 of 4D products until December 31, 2020. 4D is a related party to the Company. For the year ended December 31, 2020, the Company’s purchase commitment totaled $1,904. The Company settled $1,056 and accrued $848 of such commitment, leaving no open committed purchases as of June 30, 2021.

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Parties	Note 17 — Related Parties Some of the officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities that become available. The following table describes the net purchasing (sales) activity with entities identified as related parties to the Company: Three Months ended Six Months ended (In thousands) 2021 2020 2021 2020 Bluezone $ 93 $ 352 $ 93 $ 419 4D Bios $ — $ 9 $ 447 $ 142 Enozo $ — $ 53 $ — $ 53 Valiant Americas, LLC. $ 640 $ 482 $ 1,717 $ 482 Living Greens farm $ — $ — $ (58 ) $ — The following table summarizes net related party (payable) receivable as of June 30, 2021 and December 31, 2020: (In thousands) June 30, December 31, Bluezone $ (64 ) $ (7 ) 4D Bios $ — $ — Valiant Americas, LLC. $ (2,703 ) $ (4,246 ) Living Greens Farm $ 58 $ —

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Preparation of Condensed Consolidated Financial Statements	Preparation of Condensed Consolidated Financial Statements The condensed consolidated financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and on the same basis as the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC, except for the recently adopted accounting pronouncements described below. The condensed consolidated statements of operations, stockholders’ equity, and cash flows for the three and six months ended June 30, 2021 and 2020, and the condensed consolidated balance sheet as of June 30, 2021, are not audited but reflect all adjustments that are of a normal recurring nature and that are considered necessary for a fair presentation of the results for the periods shown. The condensed consolidated balance sheet as of December 31, 2020 is derived from the audited consolidated financial statements presented in our Annual Report on Form 10-K for the year ended December 31, 2020. Certain information and disclosures normally included in annual consolidated financial statements have been omitted pursuant to the rules and regulations of the SEC. Because the condensed consolidated interim financial statements do not include all of the information and disclosures required by GAAP for a complete set of financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on April 2, 2021. The results for interim periods are not necessarily indicative of a full year’s results.
Accounting for wholly-owned subsidiaries	Accounting for wholly-owned subsidiaries The accompanying consolidated financial statements include the accounts of Agrify Corporation and its wholly-owned subsidiaries, AGM Service Corp LLC, TriGrow Systems, Inc., Harbor Mountain Holdings, LLC, Ariafy Finance, LLC, and Agxion, LLC, in accordance with the provisions required by the Consolidation Topic 810 of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”). We include the results of operations of acquired companies from the date of acquisition. All significant intercompany transactions and balances are eliminated.
Accounting for joint-venture subsidiary	Accounting for joint-venture subsidiary For the Company’s less than wholly owned subsidiaries, Agrify-Valiant, LLC, Agrify Brands, LLC and Teejan Podponics International LLC, the Company first analyzes whether these entities are a variable interest entity (a “VIE”) in accordance with ASC 810 and if so, whether the Company is the primary beneficiary requiring consolidation. A VIE is an entity that has (i) insufficient equity to permit it to finance its activities without additional subordinated financial support or (ii) equity holders that lack the characteristics of a controlling financial interest. VIEs are consolidated by the primary beneficiary, which is the entity that has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that potentially could be significant to the entity. Variable interests in a VIE are contractual, ownership or other financial interests in a VIE that change with changes in the fair value of the VIE’s net assets. The Company continuously re-assesses (i) whether the joint venture is a VIE, and (ii) if the Company is the primary beneficiary of the VIE. If it is determined that the joint venture qualifies as a VIE and the Company is the primary beneficiary, it is consolidated. Based on the Company’s analysis for these entities, the Company has determined that Agrify-Valiant, LLC and Agrify Brands, LLC are each a VIE and that the Company is the primary beneficiary. While the Company owns 60% of Agrify-Valiant, LLC’s equity interests and 75% of Agrify Brands, LLC’s equity interests, the remaining equity interests in Agrify-Valiant, LLC and Agrify Brands, LLC are owned by unrelated third parties, and the agreement with these third parties provides the Company with greater voting rights. Accordingly, the Company consolidates the financial statements of Agrify-Valiant, LLC and Agrify Brands, LLC under the VIE rules and reflects the third parties’ interests in the consolidated financial statements as a non-controlling interest. The Company records this non-controlling interest at its initial fair value, adjusting the basis prospectively for the third parties’ share of the respective consolidated investments’ net income or loss or equity contributions and distributions. These non-controlling interests are not redeemable by the equity holders and are presented as part of permanent equity. Income and losses are allocated to the non-controlling interest holders based on its economic ownership percentage. The investment in 50% of the shares of TPI is treated as an equity investment as the Company cannot exercise significant influence.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the accrual of expenses. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.
Fiscal Year	Fiscal Year The Company, and its Subsidiaries, fiscal year ends on December 31 of each year.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist principally of cash and deposits with maturities of three months or less as of June 30, 2021 and December 31, 2020.
Concentration of Credit Risk and Significant Customer	Concentration of Credit Risk and Significant Customer Financial instruments that potentially subject the Company to concentration of credit risk primarily consist of cash and accounts receivable. The Company places its cash with financial institutions in the United States. The cash balances are insured by the FDIC up to $250 per depositor with unlimited insurance for funds in noninterest-bearing transaction accounts through June 30, 2021. At times, the amounts in these accounts may exceed the federally insured limits. The Company has certain customers whose revenue individually represented 10% or more of the Company’s total revenue, or whose accounts receivable balances individually represent 10% or more of the Company’s total accounts receivable. For the three months and six months ended June 30, 2021, one customer accounted for 92.1% and 86.8% of revenue, respectively. For the three months and six months ended June 30, 2020, one customer accounted for 80.5% and 81.3% of revenue, respectively. At June 30, 2021 and 2020, two customers accounted for 88.2% and three different customers accounted for 54.2% of accounts receivable, respectively.
Research and Development Costs	Research and Development Costs The Company expenses research and development costs as incurred. During the three and six months ended June 30, 2020, the Company expensed $43 and $705, respectively, related to development of hardware solution for deployment of rapid grow solution During the three and six months ended June 30, 2020, the Company expensed additional costs of $107 related to research and development facility.
Shipping and Handling Charges	Shipping and Handling Charges The Company incurs costs related to shipping and handling of its manufactured products. These costs are expensed as incurred as a component of cost of sales. Shipping and handling charges related to the receipt of raw materials are also incurred, which are recorded as a cost of the related inventory.
Subsequent Events	Subsequent Events The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements, except as disclosed.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of revenue disaggregated by timing of revenue	Three Months ended Six Months ended 2021 2020 2021 2020 Transferred at a point in time $ 1,124 $ 3,558 $ 1,353 $ 4,571 Transferred over time 10,701 350 17,480 350 $ 11,825 $ 3,908 $ 18,833 $ 4,921

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities at fair value on a recurring basis	June 30, 2021 December 30, 2020 Fair Value Measurements Using Input Types Fair Value Measurements Using Input Types Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in thousands) Assets Mutual funds (included in cash and cash equivalents) $ 72,612 $ - $ - $ 72,612 $ - $ - $ - $ - Held to maturity securities-current Municipal bonds 14,960 - - 14,960 - - - - Corporate bonds 20,970 - - 20,970 - - - - Total held to maturity securities- current $ 35,930 $ - $ - $ 35,930 $ - $ - $ - $ - Held to maturity securities-non-current Municipal bonds 6,478 - - 6,478 - - - - Corporate bonds 7,882 - - 7,882 - - - - Total held to maturity securities- non -current $ 14,360 $ - $ - $ 14,360 $ - $ - $ - $ - Loan receivable $ - $ - $ 886 $ 886 $ - $ - $ - $ - Total assets $ 122,902 $ - $ 886 $ 123,788 $ - $ - $ - $ - Liabilities Notes payables, net of discount $ - $ - $ - $ - $ - $ - $ 12,493 $ 12,493 Derivative liabilities $ - $ - $ - $ - $ - $ - $ 7,141 $ 7,141 Long term debt $ - $ - $ 833 $ 833 $ - $ - $ 829 $ 829 Total liabilities $ - $ - $ 833 $ 833 $ - $ - $ 20,463 $ 20,463
Schedule of cash and cash equivalents and marketable securities	June 30, December 31, Cash and cash equivalents: Cash deposits $ 7,229 $ 8,111 Mutual funds 72,612 — Total cash and cash equivalents $ 79,841 $ 8,111 Current marketable securities: Municipal bonds $ 14,960 $ — Corporate bonds 20,970 — Total current marketable securities $ 35,930 $ — Non-current marketable securities: Municipal bonds $ 6,478 $ — Corporate bonds 7,882 — Total non-current marketable securities $ 14,360 $ —
Schedule of amortized cost and estimated fair value of held-to-maturity securities	Amortized cost Unrealized loss Estimated fair value Current marketable securities (due within 1 year) Municipal bonds $ 14,960 $ (5 ) $ 14,955 Corporate bonds 20,970 (28 ) 20,942 $ 35,930 $ (33 ) $ 35,897 Non-current marketable securities (due in 1 year through 5 years) Municipal bonds $ 6,478 $ (6 ) $ 6,472 Corporate bonds 7,882 (19 ) 7,863 $ 14,360 $ (25 ) $ 14,335

Prepaid Expenses and Other Re_2

Prepaid Expenses and Other Receivables (Tables)	6 Months Ended
	Jun. 30, 2021
Prepaid Expenses and Other Receivables [Abstract]
Schedule of prepaid expenses and other receivables	June 30, December 31, Other Receivables $ 85 $ 168 Prepaid software 76 48 Prepaid insurance 1,587 — Construction deposits 1,143 — Prepaid expenses 183 148 $ 3,074 $ 364

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	June 30, December 31, Computer equipment $ 240 $ 128 Furniture and fixture 83 16 Leasehold Improvements 264 10 Machinery 866 868 Vehicle 62 62 Leased equipment at customer 700 — Total property and equipment 2,215 1,084 Less accumulated depreciation (379 ) (211 ) Property and Equipment, Net $ 1,836 $ 873

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Brand Customer Total December 31, 2020 Cost $ 930 $ 850 $ 1,780 Accumulated amortization (88 ) (89 ) (177 ) Net $ 842 $ 761 $ 1,603 Brand Customer Total June 30, 2021 Cost $ 930 $ 850 $ 1,780 Accumulated amortization (134 ) (136 ) (270 ) Net $ 796 $ 714 $ 1,510
Schedule of finite-lived intangible assets amortization expense	(in thousands) Amount Remaining 2021 $ 94 2022 187 2023 187 2024 187 2025 187 2026 and thereafter 668 Total $ 1,510

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Schedule of accrued expenses	June 30, December 31, Accrued professional fees $ 382 $ 1,135 Accrued consulting fees 167 97 Compensation related fees 847 225 Accrued construction costs 15,572 4,468 Financing lease liabilities 154 148 Operating lease liabilities 294 — Accrued inventory purchases 992 164 Other accrued expenses 416 313 Total accrued expenses $ 18,824 $ 6,550

Capital Structure (Tables)

Capital Structure (Tables)	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of valuation of options granted	Volatility 40 % Risk-free interest rate 1.10% – 1.63 % Dividend yield 0.00 % 0% Expected life (years) 10 Forfeiture rate 0.00 %
Schedule of option activity under the stock option plans	Number of Weighted Aggregate Options outstanding at January 1, 2020 493,102 $ 3.16 Granted 1,622,719 2.31 Exercised — — Forfeited (502,301 ) 2.96 Expired (108,057 ) 3.16 Options outstanding at June 30, 2020 1,505,463 $ 2.31 $ — Options outstanding at January 1, 2021 3,133,109 3.51 Granted 1,420,017 12.00 Exercised (252,788 ) 2.84 Forfeited (326,603 ) 3.74 Expired (4,076 ) 2.28 Options outstanding at June 30, 2021 3,969,659 $ 6.57 $ — Options vested and exercisable as of June 30, 2020 289,530 $ 2.33 Options vested and exercisable as of June 30, 2021 1,801,684 $ 4.19
Schedule of options vested and exercisable	Options vested and exercisable Price Number of Weighted average Weighted average $ 2.28 906,769 8.59 $ 2.28 $ 4.86 769,641 9.09 $ 4.86 $ 13.84 115,274 9.63 $ 13.84 $ 14.49 10,000 9.64 $ 14.49
Schedule of options expected to vest	Options expected to vest Price Number of Weighted average Weighted average $ 2.28 389,677 8.89 $ 2.28 $ 4.86 624,493 9.35 $ 4.86 $ 7.68 219,083 9.69 $ 7.68 $ 13.84 934,726 9.63 $ 13.84

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of basic and diluted net loss per share	Three Months ended Six Months ended 2021 2020 2021 2020 Numerator: Net loss attributable to Agrify Corporation $ (5,636 ) $ (2,444 ) (9,446 ) (5,857 ) Accrued dividend attributable to Preferred A Stockholders — (104 ) (61 ) (189 ) Net loss available for common shareholders $ (5,636 ) $ (2,548 ) (9,507 ) (6,046 ) Denominator: Weighted-average common shares outstanding – basic and diluted 20,344,278 4,211,677 16,661,948 4,139,691 Net loss per share attributable to common stockholders – basic and diluted $ (0.28 ) $ (0.60 ) $ (0.57 ) $ (1.46 )
Schedule of anti-dilutive shares	Three and Six Months ended 2021 2020 Options outstanding 3,969,659 1,505,463 Warrants outstanding 965,907 — 4,935,566 1,505,463

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of lease activity	Three Months ended Six Months ended 2021 2020 2021 2020 Operating lease cost $ 70 $ — $ 84 $ — Finance lease cost: Amortization of right-of-use assets 45 — 90 — Interest on lease liabilities 11 — 22 — Short-term lease cost — 60 — 103 Total lease cost $ 126 $ 60 $ 196 $ 103 June 30, June 30, Weighted-average remaining lease term – operating leases 3.38 years — Weighted-average remaining lease term – finance leases 3.51 years — Weighted-average discount rate – operating leases 8.02 % — Weighted-average discount rate – finance leases 8.08 % —
Schedule of operating lease liabilities	June 30, December 31, Right-of-use assets, net $ 1,283 $ 544 Operating lease liabilities, current 294 — Operating lease liabilities, non- current 548 — Total operating lease liabilities $ 842 $ — Finance lease liabilities, current $ 154 $ 148 Finance lease liabilities, non- current 356 434 Total operating lease liabilities $ 510 $ 582
Schedule of lease liabilities under non-cancellable finance leases	Operating Finance Total For the year ending December 31, 2021 $ 170 $ 95 $ 265 2022 359 181 540 2023 166 154 320 2024 105 91 196 2025 107 50 157 Thereafter 63 16 79 Total minimum lease payments 970 587 1,557 Less imputed interest (128 ) (77 ) (205 ) Total lease liabilities $ 842 $ 510 $ 1,352

Related Parties (Tables)

Related Parties (Tables)	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Schedule of net purchasing activity	Three Months ended Six Months ended (In thousands) 2021 2020 2021 2020 Bluezone $ 93 $ 352 $ 93 $ 419 4D Bios $ — $ 9 $ 447 $ 142 Enozo $ — $ 53 $ — $ 53 Valiant Americas, LLC. $ 640 $ 482 $ 1,717 $ 482 Living Greens farm $ — $ — $ (58 ) $ — (In thousands) June 30, December 31, Bluezone $ (64 ) $ (7 ) 4D Bios $ — $ — Valiant Americas, LLC. $ (2,703 ) $ (4,246 ) Living Greens Farm $ 58 $ —

Nature of Business and Basis _2

Nature of Business and Basis of Presentation (Details) - $ / shares	Feb. 04, 2021	Feb. 02, 2021	Feb. 01, 2021	Jan. 12, 2021	Mar. 22, 2021	Feb. 19, 2021	Jan. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Nature of Business and Basis of Presentation (Details) [Line Items]
Reverse stock split				581804 reverse stock split.
IPO [Member]
Nature of Business and Basis of Presentation (Details) [Line Items]
Sale of common stock shares	810,000	5,400,000	5,400,000		833,333	5,555,555
Share price (in Dollars per share)	$ 10	$ 10	$ 10		$ 13.50	$ 13.50
Teejan Podponics International LLC [Member]
Nature of Business and Basis of Presentation (Details) [Line Items]
Ownership percentage									50.00%
Agrify Valiant LLC [Member]
Nature of Business and Basis of Presentation (Details) [Line Items]
Ownership percentage								60.00%
Agrify Brands [Member]
Nature of Business and Basis of Presentation (Details) [Line Items]
Ownership percentage							75.00%

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Summary of Significant Accounting Policies (Details) [Line Items]
FDIC insured amount		$ 250,000
Concentration risk, description		For the three months and six months ended June 30, 2021, one customer accounted for 92.1% and 86.8% of revenue, respectively. For the three months and six months ended June 30, 2020, one customer accounted for 80.5% and 81.3% of revenue, respectively. At June 30, 2021 and 2020, two customers accounted for 88.2% and three different customers accounted for 54.2% of accounts receivable, respectively.
One time rapid grow solution expenses	$ 43		$ 705
Other Research and Development Expense	$ 107	$ 107
Agrify Valiant LLC’s [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Ownership percentage		60.00%
Agrify Brands, LLC’s [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Ownership percentage		75.00%
Teejan Podponics International LLC [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Percentage of investment		50.00%
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk percentage		10.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk percentage		10.00%

Revenue Recognition (Details) -

Revenue Recognition (Details) - Schedule of revenue disaggregated by timing of revenue - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue Recognition	$ 11,825	$ 3,908	$ 18,833	$ 4,921
Transferred at a point in time [Member]
Disaggregation of Revenue [Line Items]
Revenue Recognition	1,124	3,558	1,353	4,571
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue Recognition	$ 10,701	$ 350	$ 17,480	$ 350

Fair Value (Details)

Fair Value (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Debt value	$ 833	$ 829

Fair Value (Details) - Schedule

Fair Value (Details) - Schedule of assets and liabilities at fair value on a recurring basis - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Assets
Mutual funds (included in cash and cash equivalents)	$ 72,612
Held to maturity securities-current
Total held to maturity securities- current	35,930
Held to maturity securities-non-current
Total held to maturity securities- non -current	14,360
Loan receivable	886
Total assets	123,788
Liabilities
Notes payables, net of discount		12,493
Derivative liabilities		7,141
Long term debt	833	829
Total liabilities	833	20,463
Level 1 [Member]
Assets
Mutual funds (included in cash and cash equivalents)	72,612
Held to maturity securities-current
Total held to maturity securities- current	35,930
Held to maturity securities-non-current
Total held to maturity securities- non -current	14,360
Loan receivable
Total assets	122,902
Liabilities
Notes payables, net of discount
Derivative liabilities
Long term debt
Total liabilities
Level 2 [Member]
Assets
Mutual funds (included in cash and cash equivalents)
Held to maturity securities-current
Total held to maturity securities- current
Held to maturity securities-non-current
Total held to maturity securities- non -current
Loan receivable
Total assets
Liabilities
Notes payables, net of discount
Derivative liabilities
Long term debt
Total liabilities
Level 3 [Member]
Assets
Mutual funds (included in cash and cash equivalents)
Held to maturity securities-current
Total held to maturity securities- current
Held to maturity securities-non-current
Total held to maturity securities- non -current
Loan receivable	886
Total assets	886
Liabilities
Notes payables, net of discount		12,493
Derivative liabilities		7,141
Long term debt	833	829
Total liabilities	833	20,463
Municipal bonds [Member]
Held to maturity securities-current
Total held to maturity securities- current	14,960
Held to maturity securities-non-current
Total held to maturity securities- non -current	6,478
Municipal bonds [Member] | Level 1 [Member]
Held to maturity securities-current
Total held to maturity securities- current	14,960
Held to maturity securities-non-current
Total held to maturity securities- non -current	6,478
Municipal bonds [Member] | Level 2 [Member]
Held to maturity securities-current
Total held to maturity securities- current
Held to maturity securities-non-current
Total held to maturity securities- non -current
Municipal bonds [Member] | Level 3 [Member]
Held to maturity securities-current
Total held to maturity securities- current
Held to maturity securities-non-current
Total held to maturity securities- non -current
Corporate bonds [Member]
Held to maturity securities-current
Total held to maturity securities- current	20,970
Held to maturity securities-non-current
Total held to maturity securities- non -current	7,882
Corporate bonds [Member] | Level 1 [Member]
Held to maturity securities-current
Total held to maturity securities- current	20,970
Held to maturity securities-non-current
Total held to maturity securities- non -current	7,882
Corporate bonds [Member] | Level 2 [Member]
Held to maturity securities-current
Total held to maturity securities- current
Held to maturity securities-non-current
Total held to maturity securities- non -current
Corporate bonds [Member] | Level 3 [Member]
Held to maturity securities-current
Total held to maturity securities- current
Held to maturity securities-non-current
Total held to maturity securities- non -current

Fair Value (Details) - Schedu_2

Fair Value (Details) - Schedule of cash and cash equivalents and marketable securities - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Cash and cash equivalents:
Total cash and cash equivalents	$ 79,841	$ 8,111
Current marketable securities:
Total current marketable securities	35,930
Non-current marketable securities:
Total non-current marketable securities	14,360
Cash deposits [Member]
Cash and cash equivalents:
Total cash and cash equivalents	7,229	8,111
Mutual funds [Member]
Cash and cash equivalents:
Total cash and cash equivalents	72,612
Municipal Bonds [Member]
Current marketable securities:
Total current marketable securities	14,960
Non-current marketable securities:
Total non-current marketable securities	6,478
Corporate bonds [Member]
Current marketable securities:
Total current marketable securities	20,970
Non-current marketable securities:
Total non-current marketable securities	$ 7,882

Fair Value (Details) - Schedu_3

Fair Value (Details) - Schedule of amortized cost and estimated fair value of held-to-maturity securities - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current marketable securities (due within 1 year)
Amortized cost	$ 35,930
Unrealized loss	(33)
Estimated fair value	35,897
Non-current marketable securities (due in 1 year through 5 years)
Amortized cost	14,360
Unrealized loss	(25)
Estimated fair value	14,335
Municipal Bonds [Member]
Current marketable securities (due within 1 year)
Amortized cost	14,960
Unrealized loss	(5)
Estimated fair value	14,955
Non-current marketable securities (due in 1 year through 5 years)
Amortized cost	6,478
Unrealized loss	(6)
Estimated fair value	6,472
Corporate bonds [Member]
Current marketable securities (due within 1 year)
Amortized cost	20,970
Unrealized loss	(28)
Estimated fair value	20,942
Non-current marketable securities (due in 1 year through 5 years)
Amortized cost	7,882
Unrealized loss	(19)
Estimated fair value	$ 7,863

Loan Receivable (Details)

Loan Receivable (Details) - USD ($)	May 10, 2021	Jun. 30, 2021	May 06, 2021
Receivables [Abstract]
Working capital			$ 820,000
Interest rate		12.00%	18.00%
Loan agreement, description	the Company entered into several definitive agreements with the customer for (1) facility build-out services in the amount of up to $2,500, (2) leasing of 60 AVFUs and other cultivation equipment, (3) subscription to Agrify Insights software, and (4) other business consultation services. The facility build-out is financed through construction loan advances which bear interest at a rate of 18% per annum, has a maturity date of 24 months from the date the customer commences commercial sales of its products from the AVFUs and is secured by a lien on all of the customer’s assets (“Construction Loan”). The equipment lease was for a term of 10 years. The customer will pay monthly rent based on production from the Company’s AVFUs. The subscription for Agrify Insights software and consultation services will be provided for a term of 10 years, for monthly fixed fees.
Loan value		$ 748
Maturity date		36 months
Construction loan		$ 955
Allowance amount		69
Loan receivable		$ 886
Two employees ownership percentage		36.60%

Prepaid Expenses and Other Re_3

Prepaid Expenses and Other Receivables (Details) - Schedule of prepaid expenses and other receivables - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Prepaid Expenses and Other Receivables [Abstract]
Other Receivables	$ 85	$ 168
Prepaid software	76	48
Prepaid insurance	1,587
Construction deposits	1,143
Prepaid expenses	183	148
Total	$ 3,074	$ 364

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciations expense	$ 109	$ 19	$ 199	$ 38

Property and Equipment, Net (_2

Property and Equipment, Net (Details) - Schedule of property and equipment, net - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 2,215	$ 1,084
Less accumulated depreciation	(379)	(211)
Property and Equipment, Net	1,836	873
Computer equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	240	128
Furniture and fixture [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	83	16
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	264	10
Machinery [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	866	868
Vehicle [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	62	$ 62
Leased equipment at customer [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 700

Capitalized Website Costs, Net

Capitalized Website Costs, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Capitalized Website Costs Net [Abstract]
Estimated useful lives			3 years
Amortizable website costs			$ 139		$ 139
Accumulated amortization			69		$ 48
Amortization expense	$ 10	$ 10	$ 21	$ 20

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expenses	$ 47	$ 48	$ 94	$ 83
Goodwill	$ 632		$ 632		$ 632

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Details) - Schedule of intangible assets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 1,780	$ 1,780
Accumulated amortization	(270)	(177)
Net	1,510	1,603
Brand Rights [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	930	930
Accumulated amortization	(134)	(88)
Net	796	842
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	850	850
Accumulated amortization	(136)	(89)
Net	$ 714	$ 761

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Details) - Schedule of finite-lived intangible assets amortization expense - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Finite Lived Intangible Assets Future Amortization Expense Abstract
Remaining 2021	$ 94
2022	187
2023	187
2024	187
2025	187
2026 and thereafter	668
Total	$ 1,510	$ 1,603

Accrued Expenses (Details) - Sc

Accrued Expenses (Details) - Schedule of accrued expenses - Accrued expenses [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accrued Expenses (Details) - Schedule of accrued expenses [Line Items]
Accrued professional fees	$ 382	$ 1,135
Accrued consulting fees	167	97
Compensation related fees	847	225
Accrued construction costs	15,572	4,468
Financing lease liabilities	154	148
Operating lease liabilities	294
Accrued inventory purchases	992	164
Other accrued expenses	416	313
Total accrued expenses	$ 18,824	$ 6,550

Convertible Promissory Notes (D

Convertible Promissory Notes (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 11, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Convertible Promissory Notes (Details) [Line Items]
Gain on extinguishment				$ 2,685
IPO [Member]
Convertible Promissory Notes (Details) [Line Items]
Conversion price (in Dollars per share)	$ 7.72
Aggregate principal amount	$ 13,100
Shares of common stock (in Shares)	1,697,075
Notes [Member]
Convertible Promissory Notes (Details) [Line Items]
Conversion price (in Dollars per share)	$ 7.72
Gain on extinguishment	$ 2,685
Extinguished debt	19,654
Principal	13,100
Derivative liabilities	7,141
Debt discount	587
Fair value of the new convertible notes	16,969
Convertible notes principal amount	13,100
Fair value of beneficial conversion feature	$ 3,869

Capital Structure (Details)

Capital Structure (Details) - USD ($)	Feb. 04, 2021	Feb. 02, 2021	Feb. 01, 2021	Jan. 11, 2021	Aug. 10, 2020	May 16, 2021	Mar. 22, 2021	Feb. 19, 2021	Feb. 18, 2021	Feb. 17, 2021	Jan. 24, 2021	Dec. 18, 2020	May 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Jan. 09, 2020	Jun. 04, 2019
Class of Stock [Line Items]
Authorized number of share																				53,000,000
Shares of common stock																				50,000,000
Par value (in Dollars per share)														$ 0.001			$ 0.001		$ 0.001	$ 0.001
Issuance of preferred stock																				3,000,000
Preferred stock par value (in Dollars per share)														$ 0.001			$ 0.001		$ 0.001	$ 0.001
Authorized Preferred Stock A																				100,000
Preferred stock share, authorized														2,895,000			2,895,000		2,895,000	3,000,000
Preferred stock, par value (in Dollars per share)																				$ 0.001
Issuance of comon stock																					1,743,744
Stock options granted vasting percentage					50.00%
Options to purchase granted shares to directors						219,083			10,000
Stock option, description										The options will expire 10 years from the date of grant and have an exercise price per share of $13.84. The options vest in 36 equal monthly installments from the date of grant.
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic and Diluted Share (in Dollars per share)										$ 13.84
stock option compensation expense (in Dollars)														$ 931,000	$ 542,000		$ 3,066	$ 603
2019 Stock Option Plan [Member]
Class of Stock [Line Items]
Stock option vesting percentage					25.00%
2020 Plan [Member]
Class of Stock [Line Items]
Issuance of shares												4,533,732
Options to purchase granted shares to directors										1,050,000	144,360
Stock option, description									The options will expire 10 years from the date of grant and have an exercise price per share of $14.49.
Total unrecognized compensation cost (in Dollars)														$ 10,125			$ 10,125
Shares available to be granted																	311,244
Minimum [Member] | 2019 Stock Option Plan [Member]
Class of Stock [Line Items]
Issuance of shares					1,743,744
Maximum [Member] | 2019 Stock Option Plan [Member]
Class of Stock [Line Items]
Issuance of shares					3,355,083
IPO [Member]
Class of Stock [Line Items]
Sale of stock	810,000	5,400,000	5,400,000				833,333	5,555,555
Share price (in Dollars per share)	$ 10	$ 10	$ 10				$ 13.50	$ 13.50
Maximum number of additional shares			810,000
Exercise price of warrants (in Dollars per share)			$ 12.50
Shares issued as exercised percentage								3.00%
Warrants To buy Additional Shares [Member]
Class of Stock [Line Items]
Purchase of warrants	24,300		162,000				25,000	166,667
Over-Allotment Option [Member]
Class of Stock [Line Items]
Sale of additional shares							833,333
Sale of stock	810,000							833,333
Aggregate number of shares of common stock issued percentage			3.00%
Exercise price of warrants (in Dollars per share)	$ 12.50						$ 16.875	$ 16.875
Initial public offering price percentage	125.00%							125.00%
Shares issued as exercised percentage	3.00%						3.00%
Total Public Offerings [Member]
Class of Stock [Line Items]
Total public offerings	6,210,000						6,388,888
Total public offerings (in Dollars)	$ 57,000,000						$ 80,000,000
Conversions of Securities [Member]
Class of Stock [Line Items]
Conversion of Preferred A (in Shares)			1,373,038
Conversion of notes			1,697,075
Conversion price (in Dollars per share)			$ 7.72
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Aggregate shares																60,000
Aggregate purchase price (in Dollars)													$ 4,000			$ 6,000
Sale of additional shares													40,000
Series A Convertible Preferred Stock [Member] | Amendment of Conversion Formulas [Member]
Class of Stock [Line Items]
Convertible preferred stock terms of conversion				the Series A Preferred Stock is convertible, at any time after issuance or immediately prior to the closing of a public transaction, into common stock in an amount of shares equal to (i) the product of the Series A Preferred Stock original price plus accrued but unpaid dividends on the shares being converted, multiplied by the number of shares of Series A Preferred Stock being converted, divided by (ii) a conversion price of $7.72 per share (after the reverse split taking effect) and    2.immediately prior to the consummation of a public transaction, the outstanding principal amount of the Notes together with all accrued and unpaid interest shall convert into a number of fully paid and non-assessable shares of common stock equal to the quotient of (i) the outstanding principal amount of the Notes together with all accrued and unpaid interest thereunder immediately prior to such public transaction divided by (ii) a conversion price of $7.72 (after the reverse split taking effect).

Capital Structure (Details) - S

Capital Structure (Details) - Schedule of valuation of options granted	6 Months Ended
	Jun. 30, 2021
Capital Structure (Details) - Schedule of valuation of options granted [Line Items]
Volatility	40.00%
Dividend yield	0.00%
0% Expected life (years)	10 years
Forfeiture rate	0.00%
Minimum [Member]
Capital Structure (Details) - Schedule of valuation of options granted [Line Items]
Risk-free interest rate	1.10%
Maximum [Member]
Capital Structure (Details) - Schedule of valuation of options granted [Line Items]
Risk-free interest rate	1.63%

Capital Structure (Details) -_2

Capital Structure (Details) - Schedule of option activity under the stock option plans - Stock Option [Member]	6 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares
Capital Structure (Details) - Schedule of option activity under the stock option plans [Line Items]
Number of options outstanding beginning balance | shares	3,133,109	493,102
Weighted average exercise price Options outstanding beginning balance | $ / shares	$ 3.51	$ 3.16
Number of options Granted | shares	1,420,017	1,622,719
Weighted average exercise price Granted | $ / shares	$ 12	$ 2.31
Number of options Exercised | shares	(252,788)
Weighted average exercise price Exercised | $ / shares	$ 2.84
Number of options Forfeited | shares	(326,603)	(502,301)
Weighted average exercise price Forfeited | $ / shares	$ 3.74	$ 2.96
Number of options Expired | shares	(4,076)	(108,057)
Weighted average exercise price Expired | $ / shares	$ 2.28	$ 3.16
Number of options Options outstanding ending balance | shares	3,969,659	1,505,463
Weighted average exercise price Options outstanding ending balance | $ / shares	$ 6.57	$ 2.31
Aggregate Intrinsic value Options outstanding ending balance | $
Number of options Options vested and exercisable | shares		289,530
Weighted average exercise price Options vested and exercisable | $ / shares		$ 2.33
Number of options Options vested and exercisable | shares	1,801,684
Weighted average exercise price Options vested and exercisable | $ / shares	$ 4.19

Capital Structure (Details) -_3

Capital Structure (Details) - Schedule of options vested and exercisable	6 Months Ended
	Jun. 30, 2021$ / sharesshares
2.28 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options vested and exercisable, Number of options | shares	906,769
Options vested and exercisable, Weighted average remaining contractual life (years)	8 years 7 months 2 days
Options vested and exercisable, Weighted average exercise price (in Dollars per share) | $ / shares	$ 2.28
4.86 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options vested and exercisable, Number of options | shares	769,641
Options vested and exercisable, Weighted average remaining contractual life (years)	9 years 1 month 2 days
Options vested and exercisable, Weighted average exercise price (in Dollars per share) | $ / shares	$ 4.86
13.84 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options vested and exercisable, Number of options | shares	115,274
Options vested and exercisable, Weighted average remaining contractual life (years)	9 years 7 months 17 days
Options vested and exercisable, Weighted average exercise price (in Dollars per share) | $ / shares	$ 13.84
14.49 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options vested and exercisable, Number of options | shares	10,000
Options vested and exercisable, Weighted average remaining contractual life (years)	9 years 7 months 20 days
Options vested and exercisable, Weighted average exercise price (in Dollars per share) | $ / shares	$ 14.49

Capital Structure (Details) -_4

Capital Structure (Details) - Schedule of options expected to vest	12 Months Ended
	Dec. 30, 2021$ / sharesshares
2.28 [Member]
Capital Structure (Details) - Schedule of options expected to vest [Line Items]
Options expected to vest, Number of options | shares	389,677
Options expected to vest, Weighted average remaining contractual life (years)	8 years 10 months 20 days
Options expected to vest, Weighted average exercise price (in Dollars per share) | $ / shares	$ 2.28
4.86 [Member]
Capital Structure (Details) - Schedule of options expected to vest [Line Items]
Options expected to vest, Number of options | shares	624,493
Options expected to vest, Weighted average remaining contractual life (years)	9 years 4 months 6 days
Options expected to vest, Weighted average exercise price (in Dollars per share) | $ / shares	$ 4.86
7.68 [Member]
Capital Structure (Details) - Schedule of options expected to vest [Line Items]
Options expected to vest, Number of options | shares	219,083
Options expected to vest, Weighted average remaining contractual life (years)	9 years 8 months 8 days
Options expected to vest, Weighted average exercise price (in Dollars per share) | $ / shares	$ 7.68
13.84 [Member]
Capital Structure (Details) - Schedule of options expected to vest [Line Items]
Options expected to vest, Number of options | shares	934,726
Options expected to vest, Weighted average remaining contractual life (years)	9 years 7 months 17 days
Options expected to vest, Weighted average exercise price (in Dollars per share) | $ / shares	$ 13.84

Net Loss Per Share (Details) -

Net Loss Per Share (Details) - Schedule of basic and diluted net loss per share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net loss attributable to Agrify Corporation	$ (5,636)	$ (2,444)	$ (9,446)	$ (5,857)
Accrued dividend attributable to Preferred A Stockholders		(104)	(61)	(189)
Net loss available for common shareholders	$ (5,636)	$ (2,548)	$ (9,507)	$ (6,046)
Denominator:
Weighted-average common shares outstanding – basic and diluted (in Shares)	20,344,278	4,211,677	16,661,948	4,139,691
Net loss per share attributable to common stockholders – basic and diluted (in Dollars per share)	$ (0.28)	$ (0.60)	$ (0.57)	$ (1.46)

Net Loss Per Share (Details) _2

Net Loss Per Share (Details) - Schedule of anti-dilutive shares - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	4,935,566	1,505,463
Options outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	3,969,659	1,505,463
Warrants outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	965,907

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Mar. 09, 2020	Feb. 05, 2021	Jun. 30, 2021	Dec. 31, 2020	Jul. 28, 2020	Jun. 07, 2019
Commitments and Contingencies (Details) [Line Items]
Weighted average discount rate			8.04%
Leasehold improvements		$ 193
Base lease and other operating fee		$ 530
Purchase order mack amount				$ 5,200
Purchase order increased			$ 11,500
Minimum purchases amount first year			532
Minimum purchases amount second year			660
Minimum purchase increase percentage	3.00%
Committed purchases amount				$ 1,904
Settled commitment amount			1,056
Accrued amount			$ 848
Bluezone Products, Inc. [Member]
Commitments and Contingencies (Details) [Line Items]
Minimum purchases amount first year						$ 480
Minimum purchases amount second year						$ 600
Enozo Technologies Inc. [Member]
Commitments and Contingencies (Details) [Line Items]
Minimum purchases amount first year December 31, 2021	$ 375
Minimum purchases amount first year December 31, 2022	750
Minimum purchases amount first year December 31, 2023	$ 1,125
Minimum [Member] | 4D Bios [Member]
Commitments and Contingencies (Details) [Line Items]
Minimum purchase value					$ 577
Maximum [Member] | 4D Bios [Member]
Commitments and Contingencies (Details) [Line Items]
Minimum purchase value					$ 607

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of lease activity - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Schedule of lease activity [Abstract]
Operating lease cost	$ 70		$ 84
Amortization of right-of-use assets	45		90
Interest on lease liabilities	11		22
Short-term lease cost		60		103
Total lease cost	$ 126	$ 60	$ 196	$ 103
Weighted-average remaining lease term – operating leases	3 years 4 months 17 days		3 years 4 months 17 days
Weighted-average remaining lease term – finance leases	3 years 6 months 3 days		3 years 6 months 3 days
Weighted-average discount rate – operating leases	8.02%		8.02%
Weighted-average discount rate – finance leases	8.08%		8.08%

Commitments and Contingencies_4

Commitments and Contingencies (Details) - Schedule of operating lease liabilities - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule of operating lease liabilities [Abstract]
Right-of-use assets, net	$ 1,283	$ 544
Operating lease liabilities, current	294
Operating lease liabilities, non- current	548
Total operating lease liabilities	842
Finance lease liabilities, current	154	148
Finance lease liabilities, non- current	356	434
Total operating lease liabilities	$ 510	$ 582

Commitments and Contingencies_5

Commitments and Contingencies (Details) - Schedule of lease liabilities under non-cancellable finance leases $ in Thousands	Dec. 31, 2021USD ($)
Commitments and Contingencies (Details) - Schedule of lease liabilities under non-cancellable finance leases [Line Items]
2021	$ 265
2022	540
2023	320
2024	196
2025	157
Thereafter	79
Total minimum lease payments	1,557
Less imputed interest	(205)
Total lease liabilities	1,352
Operating lease [Member]
Commitments and Contingencies (Details) - Schedule of lease liabilities under non-cancellable finance leases [Line Items]
2021	170
2022	359
2023	166
2024	105
2025	107
Thereafter	63
Total minimum lease payments	970
Less imputed interest	(128)
Total lease liabilities	842
Finance lease [Member]
Commitments and Contingencies (Details) - Schedule of lease liabilities under non-cancellable finance leases [Line Items]
2021	95
2022	181
2023	154
2024	91
2025	50
Thereafter	16
Total minimum lease payments	587
Less imputed interest	(77)
Total lease liabilities	$ 510

Related Parties (Details) - Sch

Related Parties (Details) - Schedule of net purchasing activity - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Bluezone [Member]
Related Party Transaction [Line Items]
Net purchase	$ 93	$ 352	$ 93	$ 419
Net related party payable			(64)		$ (7)
4D Bios [Member]
Related Party Transaction [Line Items]
Net purchase		9	447	142
Net related party payable
Enozo [Member]
Related Party Transaction [Line Items]
Net purchase		53		53
Valiant Americas, LLC. [Member]
Related Party Transaction [Line Items]
Net purchase	640	482	1,717	482
Net related party payable			(2,703)		(4,246)
Living Greens farm [Member]
Related Party Transaction [Line Items]
Net purchase			(58)
Net related party payable			$ 58