Agrify Q3 revenue down 55% to $7.0M; net loss $46.3M; adjusts FY2022 outlook

RYTHM, Inc.

2022-Q3 EPS reported -$4.00 vs consensus -$1152.41 ▲ beat (+99.7%)

Revenue $7.0M (down 55.4% YoY); net loss $46.3M ($17.33 diluted loss per share) vs net loss $9.8M a year ago.
Gross loss of $4.1M (negative 58.6% margin); adjusted EBITDA loss of $28.8M.
Deferred $5.3M of design & build revenue due to Bud & Mary's lawsuit; $1.8M of orders unfulfilled due to credit facility cash limits.
Company adjusts fiscal 2022 outlook; cites challenging cannabis industry environment and difficult business decisions.
Operating cash flow used was $8.5M in Q3 (vs $3.7M prior year); year-to-date operating cash outflow $66.1M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

RYTHM, Inc. reported third quarter ended September 30, 2022 results: revenue $7.0 million, net income $46.3 million, EPS $17.33 per diluted share.

Period: third quarter ended September 30, 2022
Revenue: $7.0 million
Net income: $46.3 million
EPS: $17.33 per diluted share
Result: reported results

Exact text from the filing

the quarter with line of sight on more than $15.0 million in revenue, however, we had to make some difficult business decisions, which resulted in quarterly revenue of only $7.0 million. Our third quarter revenue excludes $5.3 million of design and build revenue, which was deferred as a result of a default by Bud & Mary’s ownership on the terms of its Total

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RYTHM, Inc. reported year-to-date period ended September 30, 2022 results: revenue $52.4 million, net income $148.6 million, EPS $57.21 per diluted share.

Period: year-to-date period ended September 30, 2022
Revenue: $52.4 million
Net income: $148.6 million
EPS: $57.21 per diluted share
Result: reported results

Exact text from the filing

and Year-To-Date 2022 Financial Results ● Revenue was $7.0 million for the third quarter, a decrease of 55.4% compared to $15.8 million for the prior year period. Revenue was $52.4 million for the year-to-date period, an increase of 51.4% versus $34.6 million for the prior year-to-date period. Third quarter 2022 revenue reflects the deferral of $5.3 million of

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RYTHM, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-22-070341

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