Agrify Corporation (NASDAQ:AGFY) announced financial results Wednesday for the second quarter ended June 30, 2024. The Michigan-based cannabis cultivation solutions provider disclosed revenue of $3.0 million, compared to $5.1 million in the same period of 2023. “We are pleased to report a 15% increase in quarterly revenue and a 54.8% rise in gross profit for the second quarter of 2024 in comparison to the first quarter of 2024," stated chairman and CEO Raymond Chang. "However, we recognize that 2024 presents ongoing challenges, as the industry remains cautious about future capital investments due to uncertain regulations and limited capital availability. Despite our continuous efforts to reduce costs and address payables, our constrained cash position remains a barrier to growth. As such, the company will continue to explore all strategic options to maximize shareholder value.” Read Also: Cannabis Cultivation Solutions Provider Agrify Announces ...