VIDEO: Indoor Farming Biz AppHarvest Delivered Sales In First Earnings As Public Company
May 17, 2021
AppHarvest, the tech-forward indoor vertical farming company that went public in February, released its first earnings report showing Q1 net sales of $2.3 million for its tomato harvest. The stock ($APPH) was up on the news, rising to more than $13 a share in morning trading, but still well short of its closing high of $38.
Founder and CEO Jonathan Webb spoke to Cheddar about the company's challenges in building a facility and harvesting its product amid a pandemic and pointed to expanding in the future. "Our thesis is that controlled-environment agriculture will be growing almost all fruit and vegetable production at scale indoors," Webb said.