Shares of Agrify Corp. (AGFY) are gaining over 13% on Tuesday morning after the company reported its first-quarter results.
AGFY is currently trading at $8.62, up $1.00 or 13.12%, on the Nasdaq.
Agrify reported first-quarter loss of $3.81 million, wider than last year’s loss of $3.41 million last year. Total revenues increased to $7.0 million from $1.0 million last year.
Sales backlog increased to $82 million from $59 million at the end of fourth quarter 2020.
The company now expects full year 2021 revenue of between $48 to $50 million, up from $40 million.
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