AGRI
AGRI
AgriFORCE Growing Systems Ltd.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $525.91K ▲ | $8.66M ▲ | $-8.35M ▼ | -1.59K% ▲ | $-5.55 ▲ | $-8.04M ▼ |
| Q2-2025 | $451.95K ▲ | $1.7M ▼ | $-8.06M ▼ | -1.78K% ▼ | $-248.4 ▼ | $-5.71M ▼ |
| Q1-2025 | $344.42K ▲ | $2.15M ▼ | $-145.46K ▲ | -42.23% ▲ | $-0.09 ▲ | $1.1M ▲ |
| Q4-2024 | $26.57K ▲ | $2.29M ▲ | $-2.87M ▲ | -10.79K% ▼ | $-1.85 ▲ | $-2.39M ▲ |
| Q3-2024 | $0 | $1.3M | $-5.85M | 0% | $-6.35 | $-5.21M |
What's going well?
Revenue is growing, up 16% from last quarter, and gross margins are slightly better. Interest expense has been eliminated, which helps reduce financial pressure.
What's concerning?
Operating expenses surged to over $8.7 million, far outpacing revenue and leading to much larger losses. The company is burning cash quickly and remains deeply unprofitable, with no sign of cost control.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $894.7K ▲ | $16.51M ▲ | $4.36M ▼ | $12.15M ▲ |
| Q2-2025 | $185.31K ▼ | $15.24M ▼ | $11.18M ▲ | $4.06M ▼ |
| Q1-2025 | $1.35M ▲ | $16.82M ▲ | $10.42M ▲ | $6.41M ▲ |
| Q4-2024 | $489.87K ▼ | $10.76M ▼ | $4.65M ▲ | $6.11M ▼ |
| Q3-2024 | $1.37M | $10.79M | $4.12M | $6.67M |
What's financially strong about this company?
The company slashed its debt and boosted cash reserves, making it much less risky. Shareholder equity is now solidly positive, and most supplier bills have been paid off.
What are the financial risks or weaknesses?
Over half the assets are intangibles, which could be written down if business weakens. The company has a long history of losses, and current assets still fall short of covering all near-term bills.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2025 | $-8.35M ▼ | $-2.38M ▼ | $166.49K ▲ | $2.92M ▲ | $709.39K ▲ | $-2.43M ▼ |
| Q2-2025 | $-8.06M ▼ | $-884.14K ▲ | $-918.31K ▲ | $609K ▼ | $-1.17M ▼ | $-1.91M ▲ |
| Q1-2025 | $-145.46K ▲ | $-2.17M ▼ | $-4.76M ▼ | $7.93M ▲ | $862.12K ▲ | $-2.17M ▲ |
| Q4-2024 | $-2.87M ▲ | $-1.84M ▼ | $-1.51M ▼ | $2.25M ▲ | $-883.43K ▲ | $-2.68M ▼ |
| Q3-2024 | $-5.85M | $-1.15M | $-356.08K | $-50K | $-1.56M | $-1.15M |
What's strong about this company's cash flow?
Capital spending was cut sharply this quarter, which helped conserve some cash. The company was able to raise new funds to keep operations going.
What are the cash flow concerns?
Cash burn from operations is rising, and the company can't cover expenses without new financing. The cash balance is extremely low, giving very little runway before more money must be raised.
Revenue by Geography
| Region | Q2-2025 | Q3-2025 |
|---|---|---|
CANADA | $0 ▲ | $0 ▲ |
UNITED STATES | $0 ▲ | $0 ▲ |
5-Year Trend Analysis
A comprehensive look at AgriFORCE Growing Systems Ltd.'s financial evolution and strategic trajectory over the past five years.
AgriFORCE shows clear strengths in creativity and willingness to pursue unconventional strategies, such as linking Bitcoin mining with controlled environment agriculture and launching a proprietary, nutrient‑dense flour brand. Revenue has finally started to grow, indicating the first signs of commercial traction after years of development. The company has historically been able to raise capital, build an asset base that includes specialized intangibles, and reposition its strategy in response to opportunities, as reflected in the AVAX One pivot. These factors suggest adaptability and a potentially differentiated story if the underlying economics can be made to work.
The financial profile is high risk: persistent and growing losses, negative operating and free cash flow, shrinking cash balances, and deteriorating liquidity ratios all raise questions about sustainability. The balance sheet shows deep accumulated losses and greater reliance on debt and equity issuance, leaving limited cushion if funding conditions tighten. Strategically, the company is in the midst of a major transformation toward digital assets and blockchain, exposing it to crypto market volatility, regulatory uncertainty, and fierce competition from larger players. Legal disputes and the loss of previously touted technologies further add to execution and reputational risk.
The outlook is highly uncertain and will depend on AgriFORCE’s ability to stabilize its finances and successfully execute its strategic pivot. If the integrated mining‑and‑agriculture model and the AVAX One blockchain strategy gain traction, the company could move from a concept‑driven story toward a more sustainable, multi‑stream business. However, current financial statements show a company still burning cash and under liquidity pressure, with no clear path yet to profitability. Future performance will hinge on access to new capital, disciplined cost management, and proof that its innovative concepts can scale into durable, cash‑generating operations in both the real‑asset and digital‑asset worlds.
About AgriFORCE Growing Systems Ltd.
https://agriforcegs.comAgriFORCE Growing Systems Ltd., an agriculture-focused technology company, focuses on the development and commercialization of plant-based ingredients and products for businesses and consumers that deliver healthier and nutritious solutions.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $525.91K ▲ | $8.66M ▲ | $-8.35M ▼ | -1.59K% ▲ | $-5.55 ▲ | $-8.04M ▼ |
| Q2-2025 | $451.95K ▲ | $1.7M ▼ | $-8.06M ▼ | -1.78K% ▼ | $-248.4 ▼ | $-5.71M ▼ |
| Q1-2025 | $344.42K ▲ | $2.15M ▼ | $-145.46K ▲ | -42.23% ▲ | $-0.09 ▲ | $1.1M ▲ |
| Q4-2024 | $26.57K ▲ | $2.29M ▲ | $-2.87M ▲ | -10.79K% ▼ | $-1.85 ▲ | $-2.39M ▲ |
| Q3-2024 | $0 | $1.3M | $-5.85M | 0% | $-6.35 | $-5.21M |
What's going well?
Revenue is growing, up 16% from last quarter, and gross margins are slightly better. Interest expense has been eliminated, which helps reduce financial pressure.
What's concerning?
Operating expenses surged to over $8.7 million, far outpacing revenue and leading to much larger losses. The company is burning cash quickly and remains deeply unprofitable, with no sign of cost control.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $894.7K ▲ | $16.51M ▲ | $4.36M ▼ | $12.15M ▲ |
| Q2-2025 | $185.31K ▼ | $15.24M ▼ | $11.18M ▲ | $4.06M ▼ |
| Q1-2025 | $1.35M ▲ | $16.82M ▲ | $10.42M ▲ | $6.41M ▲ |
| Q4-2024 | $489.87K ▼ | $10.76M ▼ | $4.65M ▲ | $6.11M ▼ |
| Q3-2024 | $1.37M | $10.79M | $4.12M | $6.67M |
What's financially strong about this company?
The company slashed its debt and boosted cash reserves, making it much less risky. Shareholder equity is now solidly positive, and most supplier bills have been paid off.
What are the financial risks or weaknesses?
Over half the assets are intangibles, which could be written down if business weakens. The company has a long history of losses, and current assets still fall short of covering all near-term bills.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2025 | $-8.35M ▼ | $-2.38M ▼ | $166.49K ▲ | $2.92M ▲ | $709.39K ▲ | $-2.43M ▼ |
| Q2-2025 | $-8.06M ▼ | $-884.14K ▲ | $-918.31K ▲ | $609K ▼ | $-1.17M ▼ | $-1.91M ▲ |
| Q1-2025 | $-145.46K ▲ | $-2.17M ▼ | $-4.76M ▼ | $7.93M ▲ | $862.12K ▲ | $-2.17M ▲ |
| Q4-2024 | $-2.87M ▲ | $-1.84M ▼ | $-1.51M ▼ | $2.25M ▲ | $-883.43K ▲ | $-2.68M ▼ |
| Q3-2024 | $-5.85M | $-1.15M | $-356.08K | $-50K | $-1.56M | $-1.15M |
What's strong about this company's cash flow?
Capital spending was cut sharply this quarter, which helped conserve some cash. The company was able to raise new funds to keep operations going.
What are the cash flow concerns?
Cash burn from operations is rising, and the company can't cover expenses without new financing. The cash balance is extremely low, giving very little runway before more money must be raised.
Revenue by Geography
| Region | Q2-2025 | Q3-2025 |
|---|---|---|
CANADA | $0 ▲ | $0 ▲ |
UNITED STATES | $0 ▲ | $0 ▲ |
5-Year Trend Analysis
A comprehensive look at AgriFORCE Growing Systems Ltd.'s financial evolution and strategic trajectory over the past five years.
AgriFORCE shows clear strengths in creativity and willingness to pursue unconventional strategies, such as linking Bitcoin mining with controlled environment agriculture and launching a proprietary, nutrient‑dense flour brand. Revenue has finally started to grow, indicating the first signs of commercial traction after years of development. The company has historically been able to raise capital, build an asset base that includes specialized intangibles, and reposition its strategy in response to opportunities, as reflected in the AVAX One pivot. These factors suggest adaptability and a potentially differentiated story if the underlying economics can be made to work.
The financial profile is high risk: persistent and growing losses, negative operating and free cash flow, shrinking cash balances, and deteriorating liquidity ratios all raise questions about sustainability. The balance sheet shows deep accumulated losses and greater reliance on debt and equity issuance, leaving limited cushion if funding conditions tighten. Strategically, the company is in the midst of a major transformation toward digital assets and blockchain, exposing it to crypto market volatility, regulatory uncertainty, and fierce competition from larger players. Legal disputes and the loss of previously touted technologies further add to execution and reputational risk.
The outlook is highly uncertain and will depend on AgriFORCE’s ability to stabilize its finances and successfully execute its strategic pivot. If the integrated mining‑and‑agriculture model and the AVAX One blockchain strategy gain traction, the company could move from a concept‑driven story toward a more sustainable, multi‑stream business. However, current financial statements show a company still burning cash and under liquidity pressure, with no clear path yet to profitability. Future performance will hinge on access to new capital, disciplined cost management, and proof that its innovative concepts can scale into durable, cash‑generating operations in both the real‑asset and digital‑asset worlds.

CEO
Jolie G. Kahn CPA,
Compensation Summary
(Year )
Upcoming Earnings
Split Record
| Date | Type | Ratio |
|---|---|---|
| 2025-07-28 | Reverse | 1:9 |
| 2024-12-05 | Reverse | 1:100 |
Price Target
Institutional Ownership
FRIESS ASSOCIATES LLC
Shares:452.01K
Value:$338.56K
CONCOURSE FINANCIAL GROUP SECURITIES, INC.
Shares:0
Value:$0
Summary
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