Newly public vertical farming company Kalera releases first earnings report

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.”

Read Full Article