An analogy: "Business savvy girl scouts used to sell their cookies in front of weed stores because when you're high off a joint, you probably want a cookie too."

What the girl scout & $AGFY both understand is the value of moving first and positioning themselves to offer a supporting service in a "high" growth, emerging market (no pun intended).

The Bull Thesis:

$AGFY is an agriculture-tech company, providing a suite of services for indoor agriculture cultivation. These services address two customer pain points: operational efficiency and quality assurance (yield).
They are a first mover in this space, and their vertical farming unit, LED lights, and crop protection software services position themselves to be a high value, high customer switchover cost player in the value chain.

$AGFY is a buy for me with a price target of $42 by Q3 2022.

First Mover Advantage:
- Agrify's competitors are ALL private. This is the only public company in the agritech space. https://craft.co/agrify/competitors
Customer Switchover Cost is High:
- Incentive programs
  - Provides Capital Financing for New Cannabis Customers
  - LED Light Utility Rebates for Customers
  - Source: https://www.agrify.com/general-services/

Core Services
They offer services for vertical farming, crop protection, and LED lights for indoor growing operations.

Third Quarter 2021 Financial Results (Are you seeing this shit?)

Revenue:
- Revenue grew 460% year-over-year and 33% sequentially to $15.8 million in Q3 2021
- New bookings of $32.2 million, increasing total backlog to $117.5 million
- Q4 2021 bookings are expected to top $100 million, Q4 2021 revenue expected to be approximately $26 million to $28 million, and full-year guidance increased to $60 million to $62 million

Customer Acquisition News

Announced new customer engagements:
- Signed second Agrify Total Turn-Key Solution (“Agrify TTK Solution”) agreement with True House Cannabis LLC to install up to 214 of Agrify’s Vertical Farming Units (“VFUs”)
- Based on the newly increased VFU count, this partnership is anticipated to generate an estimated $73 million in revenue in the next 10 years
- Established multi-year vertical farming research and development partnership with Curaleaf to study the impact of cultivation environment on plant health and harvest yields

References

https://ir.agrify.com/news-and-events/investor-calendar
- Checkout Their Data Sheets on Their Services
https://www.agrify.com/datasheets-brochures/