Slide 1: Q4 2021 and FY 2021 Earnings Call
Q4 2021 and FY 2021 Earnings Call March 23, 2022 Passionately Transforming Cannabis Through Innovation
Slide 2: Important Notices & Disclosures
Important Notices & Disclosures This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. All statements other than statements
Slide 3: FY 2021 Review
yc | Fy 2021 REVIEW
Slide 4: 2021 Key Accomplishments
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% increase over Q420 • Entered and cornered the cannabis extr
Slide 5: Strong Revenue and New Bookings Growth
Strong Revenue and New Bookings Growth YoY revenues increased to $59.9M vs. $12.1M, a 395% increase YoY new bookings increased to $377M vs. $37M, a 919% increase REVENUE (M) BOOKINGS (M) (Unaudited) $60 $400 $350 $50 $300 $40 $250 $30 $200 +395% +919% $150 $20 $100 $10 $50 $0 $0 2020 2021 2020 2021
Slide 6: Q421: Over $250M in Record New Bookings
Q421: Over $250M in Record New Bookings 5% 9% Construction 35% Interest (Build) VFU Purchase 36% Production Fees SaaS Fees 9% 6% Extraction Note: All bookings values are only 3-year values Passionately Transforming Cannabis Through Innovation 6
Slide 7: Total VFU Engagements Impact
Total VFU Engagements Impact Executed over the last 12 months 8 # of ENGAGEMENTS 3,729 TOTAL VFUs 130K POUNDS PER $76M ANNUAL $837M TOTAL 10 YEAR TTK & NON-TTK UNDER CONTRACT YEAR RECURRING CONTRACTUAL REVENUE BACKLOG Notes: - Amounts are based on contracted value using the assumption of 35 pounds p
Slide 8: Mutually Beneficial TTK Partnerships
Mutually Beneficial TTK Partnerships Estimated terms & results from an example engagement 01 02 03 04 05 37,888 592 20,720 $600 $300 TOTAL CANOPY TOTAL VFUs ESTIMATED PRODUCTION SaaS FEE (sq. ft.) (#) POUNDS PER FEE (per lb.) (per month) YEAR (avg.) Passionately Transforming Cannabis Through Innovat
Slide 9: Mutually Beneficial TTK Partnerships
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 Projected Revenue Agrify’s Projected Revenue Mix $8.7M $21.3M SaaS Fees $30M $184M Agrify Production Fees $355M Custom
Slide 10: FY 2021 Financial Results
yWv | FY 2021 FINANCIAL RESULTS
Slide 11: Financial Results: Fourth Quarter Ended December 31, 2021
Financial Results Fourth Quarter Ended December 31, 2021 (Unaudited) Q421 Q420 YoY Change Selling, General and Administrative Expenses Revenue 25,275 100.0% 4,353 100.0% 20,922 480.6% Cost of Goods Sold 19,648 77.7% 4,643 106.7% 15,005 323.2% Increases in our fourth quarter of 2021 selling, Total Gr
Slide 12: Financial Results: Fiscal Year Ended December 31, 2021
Financial Results Fiscal Year Ended December 31, 2021 (Unaudited) FY21 FY20 YoY Change 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/Margin 5,234 8.7% 570 4.7% 4,664 818.2% Operating Expenses: Sales, General and Admini
Slide 13: Gross Margin Trend
Gross Margin Trend +135% Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 (Dollar Amounts in Thousands) 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) $ 527 $ (380
Slide 14: FY21 Cash Flow
FY21 Cash Flow (Condensed Summary) (Unaudited) ▪ Summary: Overall, in 2021, the Company raised For the Year Ended December 31 approximately $139M in net cash through its IPO activities. Net Cash (Used In) Provided By: 2021 2020 The Company made cash investments in two acquisitions, TTK engagements,
Slide 15: FY21 Adjusted EBITDA (Non-GAAP)
FY21 Adjusted EBITDA (Non-GAAP) (Unaudited) Q121 Q221 Q321 Q421 FY21 Reconciliation of GAAP Net Income to Adjusted EBTIDA (Non-GAAP): Reported GAAP Net Income (Loss) $ (3,810) $ (5,636) $ (9,758) $ (13,261) $ (32,465) Add: Income Tax Provision 0 0 0 25 25 Add: Interest Income (Expense) 32 (55) (45)
Slide 16: Sales Pipeline
ye | SALES PIPELINE
Slide 17: Pipeline Velocity
Pipeline Velocity TOTAL PIPELINE: $571M PIPELINE (M) $600 EXTRACTION $500 PRODUCTS $44M $400 Extraction $300 CULTIVATION Cultivation PRODUCTS $214M TTK $200 $100 TTK ENGAGEMENTS $313M $0 Jan 2021 Nov 2021 Mar 2022 Passionately Transforming Cannabis Through Innovation 17
Slide 18: FY 2022 Projections
yWv | FY 2022 PROJECTIONS
Slide 19: FY22 and Q122 Revenue Projections
FY22 and Q122 Revenue Projections YoY revenues projected to increase to $140M - $142M vs. $59.9M Q122 revenues projected to be over $25.5M vs. $7M FULL YEAR REVENUE (M) Q1 REVENUE (M) $140 $25 $120 $20 $100 $80 $15 +134% +264% $60 $10 $40 $5 $20 $0 $0 2021 2022 Q1 2021 Q1 2022 Passionately Transform
Slide 20: Passionately Transforming Cannabis Through Innovation
P a s s i o n a t e l y Tr a n s f o r m i n g C a n n a b i s T h r o u g h I n n o v a t i o n