Revenue generation remains effectively stalled, with the company reporting a $46.4 million net loss in 2026Q1 despite maintaining a 52.3% gross margin.
| Sales/Revenue | 2.17M | 0 | 67.89K | 16.28K | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | 425.48% | -100% | 316.97% | - | - | - | - | - | - |
| Cost of Goods Sold | 932.61K | 0 | 89.11K | 13.58K | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | 131.27% | 83.39% | - | - | - | - | - |
| Gross Profit | 1.23M | 0 | -21.23K | 2.7K | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | 56.95% | - | -31.27% | 16.61% | - | - | - | - | - |
| Gross Profit Growth % | - | 100% | -885.06% | - | - | - | - | - | - |
| Operating Expenses | 37.95M | 0 | 10.38M | 11.16M | 13.66M | 6.93M | 3.35M | 5.12M | 2.5M |
| OpEx % of Revenue | - | - | 15291.29% | 68519.19% | - | - | - | - | - |
| Selling, General & Admin | 3.96M | 0 | 4.64M | 7.83M | 11.61M | 5.48M | 2.74M | 3.81M | 1.75M |
| SG&A % of Revenue | - | - | 6831.49% | 48071.08% | - | - | - | - | - |
| Research & Development | -329.46K | 0 | 211.35K | 6.59K | 615.69K | 474.34K | 123.92K | 1.11M | 881.43K |
| R&D % of Revenue | - | - | 311.33% | 40.47% | - | - | - | - | - |
| Other Operating Expenses | 1.18M | 0 | 5.53M | 3.32M | 1.43M | 972.84K | 0 | 0 | -137.24K |
| Operating Income | -70.54M | -31.99M | -10.4M | -11.15M | -13.66M | -6.93M | -3.35M | -5.12M | -2.5M |
| Operating Margin % | -3255.59% | - | -15322.56% | -68502.59% | - | - | - | - | - |
| Operating Income Growth % | - | -207.58% | 6.73% | 18.33% | -97.09% | -107.12% | 34.65% | -104.99% | - |
| EBITDA | -70.5M | -31.99M | -9.73M | -10.47M | -13.63M | -6.92M | -3.34M | -5.11M | -2.49M |
| EBITDA Margin % | -3253.76% | - | -14339.95% | -64326.9% | - | - | - | - | - |
| EBITDA Growth % | -592.91% | -228.66% | 7.05% | 23.18% | -97.11% | -107.33% | 34.72% | -104.94% | - |
| D&A (Non-Cash Add-back) | 39.48K | 0 | 667.06K | 679.84K | 22.41K | 11.8K | 9.06K | 8.11K | 3.29K |
| EBIT | -486.74K | 0 | -13.3M | -3.77M | -9.48M | -6.16M | 0 | -5.12M | -1.98M |
| Net Interest Income | 588.05K | 0 | -2.98M | -7.96M | -3.4M | -483.53K | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 3.32K | 484 | 0 | 0 | 0 |
| Interest Expense | -588.05K | 0 | 2.98M | 7.96M | 3.4M | 483.53K | 0 | 0 | 0 |
| Other Income/Expense | -8.95M | -1.2M | -5.87M | -580.3K | 783.17K | 285.7K | 123.84K | -3.6K | -247.58K |
| Pretax Income | -79.48M | -33.2M | -16.27M | -11.73M | -12.87M | -6.64M | -3.22M | -5.12M | -2.74M |
| Pretax Margin % | -3668.67% | - | -23973.39% | -72066.89% | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -79.44M | -33.2M | -16.27M | -11.73M | -12.87M | -6.64M | -3.22M | -5.12M | -2.74M |
| Net Margin % | -3666.64% | - | -23973.39% | -72066.89% | - | - | - | - | - |
| Net Income Growth % | -506.76% | -103.97% | -38.71% | 8.85% | -93.78% | -106.21% | 37.07% | -86.5% | - |
| Net Income (Continuing) | -79.48M | -33.2M | -16.27M | -11.73M | -12.87M | -6.64M | -3.22M | -5.12M | -2.74M |
| Discontinued Operations | 44.14K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.81 | -999999.00 | -39.96 | -1011.03 | -3560.00 | -2431.05 | -1435.65 | -1930.75 | -8506.59 |
| EPS Growth % | -99999900% | -89478701.3% | 96.05% | 71.6% | -46.44% | -69.33% | 25.64% | 77.3% | - |
| EPS (Basic) | - | -2.15 | -22.81 | -1011.03 | -3560.00 | -2431.05 | -1435.65 | -1930.75 | -8506.59 |
| Diluted Shares Outstanding | 97.53M | 16.65M | 407.31K | 11.61K | 3.62K | 3.04K | 2.9K | 2.9K | 323 |
| Basic Shares Outstanding | 97.53M | 16.39M | 713.63K | 11.61K | 3.62K | 3.04K | 2.9K | 2.9K | 323 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Total revenue model collapse
As indicated by the most recent financial filings, AgriFORCE has experienced a complete cessation of top-line activity, with revenue growth effectively stalling at zero or negative levels, highlighting a profound failure to convert its proprietary agricultural technology and intellectual property into a sustainable commercial revenue stream.
The historical revenue data reveals a pattern of erratic, non-recurring project-based income that has failed to scale into a predictable business model. The absence of consistent top-line growth suggests that the company's transition from an advisory and development firm to an IP-licensing entity has not yet achieved market validation.
Based on reported income statements, the company maintains a rigid cost structure dominated by administrative and operational overhead that persists despite the total lack of revenue, creating a structural imbalance that necessitates constant capital consumption to sustain the firm's ongoing public listing and intellectual property maintenance.
The persistent SG&A expenses, which frequently exceed $1 million per quarter, indicate a high fixed-cost burden that is not currently supported by any operational output. This expense discipline appears insufficient to preserve the company's cash runway, as the lack of revenue forces the firm to fund its entire existence through balance sheet depletion.
According to recent SEC filings, the company's net income figures are heavily impacted by extreme non-operating items and accounting anomalies, such as the massive $46.4 million loss reported in 2026Q1, which obscures the underlying operational performance and complicates any assessment of true economic value creation.
The erratic nature of the EPS and net income, including extreme quarterly swings, suggests that the reported bottom line is driven more by asset impairments or accounting adjustments than by core business activities. Investors should monitor these non-recurring items closely, as they appear to mask the fundamental lack of profitability in the company's current business model.
While the company reports a $22.1 million cash balance, the lack of any revenue-generating operations suggests that this capital is being rapidly consumed to cover fixed costs, raising significant concerns regarding the firm's long-term viability without a successful pivot to a commercialized product or service.
Short-sellers would likely focus on the high probability of future dilutive equity raises, as the current cash burn rate is unsustainable in the absence of a clear path to positive operating cash flow. The reliance on cash reserves to fund ongoing R&D and administrative costs without a corresponding increase in commercial traction warrants extreme caution regarding the company's future solvency.
Quick answers to the most common questions about buying AGRI stock.
For fiscal year 2025, AgriFORCE Growing Systems Ltd. (AGRI) reported total revenue of $0.0M.
AgriFORCE Growing Systems Ltd. (AGRI) reported a net loss of $33.2M for the fiscal year ending 2025.