By Jordan McDonald, The Morning Brew
Indoor farming operations might be sprouting, but it isn’t all growth, all the time.
In its first financial report since becoming a publicly traded company, vertical farming outfit Kalera released its Q2 earnings this month with total revenue of $1.3 million and a net loss of $78.7 million, which the company attributed in part to “a one-time non-cash expense for goodwill impairment of $64.3 million, the change in fair value for the contingent value rights earnout of $17.3 million and a one-time expense of $7.5 million related to the closing of the Agrico business combination and Nasdaq listing.”