Slide 1: Q4 2021 and FY 2021 Earnings Call
Passionately Transforming Cannabis Through Innovation Q4 2021 and FY 2021 Earnings Call March 23, 2022
Slide 2: Forward-looking statements
2 Passionately Transforming Cannabis Through Innovation This presentation contains forward - looking statements within the meaning of Section 27 A of the Securities Act of 1933 , as amended, or the Securities Act, and Section 21 E of the Securities Exchange Act of 1934 , or the Exchange Act . All st
Slide 3: FY 2021 Review
FY 2021 REVIEW
Slide 4: 2021 Key Accomplishments
4 Passionately Transforming Cannabis Through Innovation 2021 Key Accomplishments • Executed successful IPO and secondary offering • Launched the Agrify Total Turn - Key Solution • Upgraded VFU functionality and performance • Increased YoY revenues 395% to $59.9M • Q421 revenues were $25.3M, a 481% i
Slide 5: Strong Revenue and New Bookings Growth
5 Passionately Transforming Cannabis Through Innovation YoY revenues increased to $59.9M vs. $12.1M, a 395% increase YoY new bookings increased to $377M vs. $37M, a 919% increase Strong Revenue and New Bookings Growth $0 $10 $20 $30 $40 $50 $60 2020 2021 $0 $50 $100 $150 $200 $250 $300 $350 $400 202
Slide 6: Q421: Over $250M in Record New Bookings
6 Passionately Transforming Cannabis Through Innovation 35% 9% 6% 36% 9% 5% Construction Interest (Build) VFU Purchase Production Fees SaaS Fees Extraction Q421: Over $250M in Record New Bookings Note: All bookings values are only 3 - year values
Slide 7: Total VFU Engagements Impact
7 Passionately Transforming Cannabis Through Innovation 8 # of ENGAGEMENTS TTK & NON - TTK 3,729 TOTAL VFUs UNDER CONTRACT $76M ANNUAL RECURRING REVENUE $837M TOTAL 10 YEAR CONTRACTUAL BACKLOG 130K POUNDS PER YEAR Total VFU Engagements Impact Executed over the last 12 months Notes: - Amounts are bas
Slide 8: Mutually Beneficial TTK Partnerships
8 Passionately Transforming Cannabis Through Innovation Mutually Beneficial TTK Partnerships 01 37,888 TOTAL CANOPY (sq. ft.) 02 TOTAL VFUs (#) 592 03 04 PRODUCTION FEE (per lb.) $600 05 SaaS FEE (per month) $300 Estimated terms & results from an example engagement
Slide 9: Mutually Beneficial TTK Partnerships: Projected Revenue
9 Passionately Transforming Cannabis Through Innovation Mutually Beneficial TTK Partnerships Projected revenue results of an example 10 - year engagement with 592 VFUs, 37,888 square feet of canopy, and 20,720 pounds of production per year $184M $355M Agrify Customer $21.3M $124.3M $30M $8.7M SaaS F
Slide 10: FY 2021 Financial Results
FY 2021 FINANCIAL RESULTS
Slide 11: Fourth Quarter 2021 Financial Results
11 Passionately Transforming Cannabis Through Innovation Dollar and diluted share amounts in thousands Selling, General and Administrative Expenses Increases in our fourth quarter of 2021 selling, general and administrative expenses as compared to the fourth quarter of 2022 are primarily associated
Slide 12: Fiscal Year 2021 Financial Results
12 Passionately Transforming Cannabis Through Innovation Dollar and diluted share amounts in thousands Fiscal Year Ended December 31, 2021 (Unaudited) Financial Results Revenue 59,859 100.0% 12,087 100.0% 47,772 395.2% Cost of Goods Sold 54,625 91.3% 11,517 95.3% 43,108 374.3% Total Gross Profit/Mar
Slide 13: Gross Margin Trend
13 Passionately Transforming Cannabis Through Innovation Gross Margin Trend +135% Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 Revenue 1,013$ 3,908$ 2,813$ 4,353$ 7,008$ 11,825$ 15,751$ 25,275$ Cost of Goods Sold 972 2,890 3,012 4,643 7,548 11,298 16,131 19,648 Gross Margin 41$ 1,018$ (199)$ (290)$ (540)
Slide 14: FY21 Cash Flow and Cash & Marketable Securities
14 Passionately Transforming Cannabis Through Innovation (Condensed Summary) (Unaudited) FY21 Cash Flow Cash & Marketable Securities (December 31 st ) ▪ Summary: Overall, in 2021, the Company raised approximately $139M in net cash through its IPO activities. The Company made cash investments in two
Slide 15: FY21 Adjusted EBITDA (Non-GAAP)
15 Passionately Transforming Cannabis Through Innovation FY21 Adjusted EBITDA (Non - GAAP) +135% +257% We believe Adjusted EBITDA is a commonly used by investors to evaluate our performance and that of our competitors. However, our use of the term Adjusted EBITDA may vary from that of others in our
Slide 16: Sales Pipeline
SALES PIPELINE
Slide 17: Pipeline Velocity
17 Passionately Transforming Cannabis Through Innovation Pipeline Velocity $0 $100 $200 $300 $400 $500 $600 Jan 2021 Nov 2021 Mar 2022 Extraction Cultivation TTK EXTRACTION PRODUCTS CULTIVATION PRODUCTS $214M TTK ENGAGEMENTS TOTAL PIPELINE: $571M PIPELINE (M)
Slide 18: FY 2022 Projections
FY 2022 PROJECTIONS
Slide 19: FY22 and Q122 Revenue Projections
19 Passionately Transforming Cannabis Through Innovation YoY revenues projected to increase to $140M - $142M vs. $59.9M Q122 revenues projected to be over $25.5M vs. $7M FY22 and Q122 Revenue Projections $0 $5 $10 $15 $20 $25 Q1 2021 Q1 2022 Q1 REVENUE (M) $0 $20 $40 $60 $80 $100 $120 $140 2021 2022
Slide 20: Passionately Transforming Cannabis Through Innovation
Passionately Transforming Cannabis Through Innovation