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On Wednesday, Agrify Corporation (NASDAQ: AGFY), an ancillary cannabis company, reported preliminary unaudited fourth-quarter financial results for 2023. The company anticipates a net loss of $750,000, a significant improvement from previous quarters. Loss from operations is expected to decrease by 46% to $2.5 million, marking a historical low. Gross profit is projected to rise by 105% to $1.9 million, a substantial increase year-over-year. Agrify aims for its lowest net cash burn in company history and plans to approach cashflow break-even in the second half of 2024. These positive financial outlooks come after a third-quarter revenue decrease but a significant improvement in net loss compared to the previous year. CEO Raymond Chang expressed optimism about the direction the company is headed based on the encouraging Q4 results. AGFY's share price showed a 1.58% increase during pre-market trading.

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