Financial Performance - Total revenues for the year ended December 31, 2024, were $5,045,000, an increase of 13.3% compared to $4,454,000 in 2023[184] - Product revenues increased to $5,012,000 in 2024 from $4,437,000 in 2023, reflecting a growth of 12.9%[184] - The company reported a net loss of $7,038,000 for 2024, a decrease in loss compared to $13,986,000 in 2023, representing a 49.7% improvement[184] - Basic and diluted net loss per share attributable to common stockholders was $5.17 for 2024, compared to $11.29 for 2023, indicating a significant reduction in loss per share[184] - Net loss for the year ended December 31, 2024, was $7,038 thousand, compared to a net loss of $13,986 thousand for 2023, representing a 49% improvement[189] - The net loss from discontinued operations for GoodWheat was $2.721 million in 2024, down from $7.836 million in 2023[248] - The net loss from continuing operations for 2024 was $4,317,000, an improvement from a net loss of $5,329,000 in 2023[339] Assets and Liabilities - Total current assets decreased to $9,242,000 as of December 31, 2024, down from $14,972,000 in 2023, a decline of 38.4%[182] - Cash and cash equivalents decreased to $4,242,000 in 2024 from $6,518,000 in 2023, a decline of 34.9%[182] - The company has an accumulated deficit of $278,878,000 as of December 31, 2024, compared to $271,840,000 in 2023[182] - Total cash and cash equivalents at the end of the period for 2024 was $4,242 thousand, down from $6,518 thousand at the end of 2023[189] - Total assets at fair value as of December 31, 2024, were $2.757 million, a decrease from $10.049 million in 2023[259] - Total accounts payable and accrued expenses increased from $1,910,000 in 2023 to $2,108,000 in 2024, reflecting higher trade accounts payable and payroll[278] Operating Expenses - Operating expenses for 2024 totaled $8,693,000, a decrease of 17.5% from $10,556,000 in 2023[184] - Cash used in operating activities for 2024 was $9,627 thousand, down from $15,294 thousand in 2023, indicating a 37% reduction[189] - Stock-based compensation expenses for 2024 were $512 thousand, compared to $717 thousand in 2023, showing a 29% decrease[189] - The Company recorded a write-down of $154,000 related to hemp and GoodWheat seed during the year ended December 31, 2024, compared to $444,000 in 2023[251] - The Company recorded a net lease cost of $316,000 for the year ended December 31, 2024, compared to $326,000 in 2023[321] Revenue Recognition - The company recognized revenue from product sales when control of the product is transferred to customers, with revenues fluctuating based on shipment timing[232] - License revenues consist of up-front, nonrefundable license fees, annual license fees, and milestone payments, with significant fluctuations expected due to the nature of agricultural milestones[233][234] - Royalty revenues are recognized on a straight-line basis and can fluctuate based on the timing of product shipments by third parties[237] Going Concern - The company is facing substantial doubt about its ability to continue as a going concern due to recurring net losses and insufficient resources to meet anticipated cash requirements[172] - The company anticipates that its existing cash and cash equivalents will not be sufficient to meet its cash requirements for at least the next 12 months, raising substantial doubt about its ability to continue as a going concern[201] Equity and Financing - The company issued 1,285,337 shares of common stock as of December 31, 2023, up from 616,079 shares at the end of 2022, reflecting a significant increase in equity[186] - The Company raised $6.0 million in gross proceeds from the March 2023 Private Placement, issuing 165,500 shares of common stock and various warrants[283] - The Company may seek to raise additional funds through debt or equity financings, which could result in dilution to stockholders or impose additional operating restrictions[202] Tax and Deferred Tax Assets - The Company has a full valuation allowance against its net deferred tax asset due to expected future operating losses[328] - The net deferred tax assets have been offset by a valuation allowance, which increased by $2.1 million in 2024 and $3.7 million in 2023[326] - The Company had unrecognized tax benefits of $16,000 as of December 31, 2024, unchanged from the previous year[331] - The total income tax provision for the years ended December 31, 2024 and 2023 was an expense of $8,000 each year[324] Customer Concentration - Significant customers representing greater than 10% of total revenues for the year ended December 31, 2024 included Customer C at 18% and Customer F at 10%[225] Research and Development - Research and development expenses may fluctuate and primarily consist of fees paid to product formulation consultants, with significant milestone payments required for third-party technologies[240] Stock Options and Compensation - The Company has a total of 338,310 shares reserved for issuance under the 2015 Plan, with 133,074 shares available for future grant as of December 31, 2024[302] - The Company recognized $512,000 and $717,000 of compensation expense for stock options awards for the years ended December 31, 2024 and 2023, respectively[308] - The fair value of employee stock options granted in 2024 was estimated at $2.33, compared to $5.72 in 2023, indicating a decrease of 59%[308] - The expected volatility for stock options in 2024 was 101%, a decrease from 124% in 2023[308]

Arcadia Biosciences (RKDA) Q4 2024 Earnings Conference Call March 21, 2025 07:35 AM ET Company Participants Mark Kawakami - Chief Financial OfficerT.J. Schaefer - CEO Conference Call Participants Ben Klieve - Senior Research Analyst Operator Good afternoon and welcome to Arcadia Biosciences Fourth Quarter and Full Year twenty twenty four Financial Results and Business Highlights Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a quest ...

Revenue Growth - Total revenues for 2024 increased to $5,045,000, representing a 13.3% growth from $4,454,000 in 2023[4] - Product revenues rose to $5,012,000, up from $4,437,000, indicating a 12.9% increase year-over-year[4] Net Loss and Improvement - The net loss for 2024 was $7,038,000, a reduction from the net loss of $13,986,000 in 2023, reflecting a 49.7% improvement[6] - The company reported a comprehensive loss of $7,139,000 for 2024, compared to a comprehensive loss of $13,880,000 in 2023, showing a 48.6% improvement[4] Cash and Assets - Cash and cash equivalents decreased to $4,242,000 from $6,518,000, a decline of 34.9%[5] - Total assets decreased to $13,517,000 in 2024, down from $19,705,000 in 2023, a reduction of 31.4%[2] Liabilities and Expenses - Total liabilities increased slightly to $7,294,000 in 2024 from $7,002,000 in 2023, an increase of 4.2%[2] - Operating expenses decreased to $8,693,000 in 2024 from $10,555,000 in 2023, a reduction of 17.6%[4] Share Information - The weighted-average number of shares used in per share calculations increased to 1,363,303 in 2024 from 1,236,934 in 2023[4] Gains from Sales - The company recognized a gain of $4,000,000 from the sale of RS durum wheat trait in 2024[6]

Financial Performance - Arcadia Biosciences reported a loss from continuing operations of 87 cents per share in Q3 2024, missing the Zacks Consensus Estimate of a loss of 77 cents per share [1] - The company had an adjusted loss of $1.83 per share in Q3 2023 [1] - Including discontinued operations, the loss was $1.18 per share compared to a loss of $1.87 per share in the same quarter last year [2] Revenue and Sales - Net sales for Arcadia Biosciences were $1.5 million, an 18% increase from the previous year, driven by higher sales of the Zola brand [4] - Zola coconut water sales increased by 55% year over year, with new retail distribution up 68% [4] - The top line exceeded the Zacks Consensus Estimate of $1 million [4] Cost and Expenses - The cost of revenues rose by 26% year over year to $1.03 million [5] - Research and development expenses remained flat at $0.02 million compared to the previous year [5] - Selling, general and administrative (SG&A) expenses increased by 20% to $2.24 million due to employee severance expenses related to management changes [5] - Operating expenses increased by 22% year over year to $3.3 million, primarily due to higher SG&A expenses [6] - The operating loss for the third quarter was $1.76 million, compared to $1.4 million in Q3 2023 [6] Cash Position - At the end of Q3 2024, Arcadia Biosciences had cash and cash equivalents of $3.9 million, down from $6.5 million at the end of 2023 [7] - The company used $7.4 million in cash for operating activities in the first nine months of 2024, compared to $11.1 million in the same period last year [7] Stock Performance - RKDA's shares have decreased by 7.3% over the past year, while the industry has seen a growth of 0.5% [8] Peer Comparison - GrowGeneration Corp. reported a loss per share of 19 cents in Q3 2024, wider than the Zacks Consensus Estimate of a loss of 11 cents [11] - GrowGeneration's revenues were $50 million, a decline of 10.1% year over year [12] - Hydrofarm Holdings Group reported an adjusted loss of 26 cents per share in Q3 2024, missing the Zacks Consensus Estimate of a loss of 23 cents [12]

Arcadia Biosciences (RKDA) came out with a quarterly loss of $0.87 per share versus the Zacks Consensus Estimate of a loss of $0.77. This compares to loss of $1.83 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -12.99%. A quarter ago, it was expected that this agricultural biotechnology trait company would post earnings of $1.27 per share when it actually produced earnings of $0.78, delivering a surprise of -38.58%.Over the l ...

Financial Data and Key Metrics Changes - Total revenues for Q3 2024 increased by 18% year-over-year, reaching approximately $1.5 million, primarily driven by a 55% increase in Zola Coconut Water sales [7][24] - Selling, general and administrative (SG&A) expenses increased by $380,000 compared to last year, mainly due to severance and transition-related fees following the sale of GoodWheat [7][26] - Cash used during the quarter declined to $1.5 million, marking the lowest level of cash used in a quarter since the company went public [8][31] Business Line Data and Key Metrics Changes - Zola Coconut Water sales increased by 55% year-over-year, representing about 86% of total revenues for the quarter [10][24] - The retail store count for Zola increased by 68% compared to the same period last year, achieving the largest quarterly distribution gains in the company's history [11][43] - Sales of GLA oil continued to decline, with Q3 sales being about half of what they were in the same quarter last year [24] Market Data and Key Metrics Changes - The coconut water category grew by 15% over the last 52 weeks, while Zola outpaced this growth with a 23% increase [14] - In the latest four-week period, the coconut water industry grew by 28%, while Zola's sales increased by 73% [15] Company Strategy and Development Direction - The company is focused on reducing its cost structure, monetizing its existing Wheat portfolio, and growing the Zola Coconut Water business [9] - New product innovations are in the pipeline, with plans to test concepts and product samples with retailers before launching [18][19] - The company aims to exceed 80% retail distribution growth for Zola by the end of 2024 [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about Zola's momentum heading into Q4, despite it being seasonally the softest quarter for the coconut water industry [17] - The company acknowledged challenges in forecasting due to the significant new distribution gains and the timing of initial shipments [21][22] - Management emphasized the importance of maintaining cash flow and managing inventory effectively to support growth [31] Other Important Information - The loss from discontinued operations decreased by 77% compared to the same period last year, with Q3 losses making up about 16% of the total year-to-date loss [27] - The company ended Q3 with $6.6 million in cash and short-term investments, down from $8.1 million at the end of Q2 [28] Q&A Session Summary Question: Clarification on the $150,000 write-down - The CFO confirmed that the $150,000 write-down was entirely within Q3 and related to both Hemp and GoodWheat seed [35][36] Question: Expectations on margins going forward - Management indicated that, excluding the write-down and GLA business, gross margins are expected to be around 33%, aligning with historical long-term outlooks for Zola margins in the low to mid-30s [37] Question: Infrastructure support for Zola's growth - Management expressed confidence in the infrastructure to support Zola's growth, noting that the product is manufactured in Thailand and that they are managing inventory levels carefully [40][41]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37383 Arcadia Biosciences, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 81-0571538 (State or other ju ...

Revenue Performance - Total revenues for the three months ended September 30, 2024, were $1,537,000, an increase of 18.4% compared to $1,298,000 for the same period in 2023[2] - Product revenues for the nine months ended September 30, 2024, reached $3,829,000, up from $3,667,000 in the same period of 2023, reflecting a growth of 4.4%[2] Operating Expenses and Losses - Operating expenses for the three months ended September 30, 2024, totaled $3,297,000, an increase of 22.3% from $2,695,000 in the same period of 2023[2] - The net loss from continuing operations for the three months ended September 30, 2024, was $(1,182,000), compared to a net loss of $(639,000) for the same period in 2023[2] - The company reported a net loss attributable to common stockholders of $(1,612,000) for the three months ended September 30, 2024, compared to $(2,567,000) for the same period in 2023[2] - The basic and diluted net loss per share attributable to common stockholders for the three months ended September 30, 2024, was $(1.18), compared to $(1.89) for the same period in 2023[2] - Net loss for the nine months ended September 30, 2024, was $2.974 million, a decrease from a loss of $11.133 million in the same period of 2023[4] Cash and Current Assets - Cash and cash equivalents decreased to $3,936,000 as of September 30, 2024, down from $6,518,000 as of December 31, 2023[1] - Total current assets decreased to $10,711,000 as of September 30, 2024, from $14,972,000 as of December 31, 2023, representing a decline of 28.4%[1] - Cash and cash equivalents at the end of the period were $3.936 million, down from $10.611 million at the end of the previous year[4] Liabilities - Total liabilities decreased to $5,092,000 as of September 30, 2024, from $7,002,000 as of December 31, 2023, indicating a reduction of 27.3%[1] Cash Flow Activities - Cash used in operating activities resulted in a net cash outflow of $678 thousand, compared to an outflow of $573 thousand in the previous year[4] - Net cash provided by investing activities was $4.827 million, a significant increase from a net cash outflow of $4.396 million in the prior year[4] - Proceeds from the sale of RS durum wheat trait amounted to $4 million, contributing to the overall cash inflow from investing activities[4] Valuation and Gains - The company had a valuation loss on March 2023 PIPE of $0, compared to a loss of $(6,076,000) in the previous period[2] - The company recognized a valuation loss of $493 thousand related to common stock warrant and option liabilities, compared to a loss of $5.965 million in the prior year[4] - The company reported a gain on the sale of investments totaling $2.501 million, which was not present in the previous year[4] - The company reported a gain of $342 thousand from the sale of property and equipment, compared to $42 thousand in the previous year[4] Stock-Based Compensation and Inventory - Stock-based compensation expenses were $395 thousand, a decrease from $573 thousand in the same period last year[4] - The company experienced a write-down of inventories amounting to $154 thousand, down from $444 thousand in the previous year[4]

Arcadia Biosciences (RKDA) reported adjusted earnings of 78 cents per share in the second quarter of 2024, which missed the Zacks Consensus Estimate of $1.27. RKDA reported an adjusted loss of $2.64 per share in the second quarter of 2023. During the quarter, Arcadia sold its GoodWheat brand to Above Food Corp. for net payments of $4 million over the next three years. The brand was launched in 2018 to help increase the amount of fiber in food items using Arcadia's patented non-GMO wheat grain, which is natu ...

Financial Data and Key Metrics Changes - In Q2 2024, total revenues were approximately $1.3 million, a 32% sequential increase and flat compared to the same period last year [14] - Zola sales increased 86% sequentially and 42% year-over-year, representing about 90% of total revenues [14] - Q2 gross profit was $673,000, a 30% increase compared to the previous quarter and a 4% increase year-over-year, resulting in a gross margin of 52% [15] - The loss from discontinued operations was $789,000, a decrease of 47% compared to Q1 2024 and a decrease of 61% compared to Q2 2023 [17] Business Line Data and Key Metrics Changes - The GoodWheat business has been classified as discontinued operations, and its historical results are no longer included in the P&L [5] - Zola Coconut Water has shown strong growth, with sales outpacing the category growth of 16% in Q2 2024 [10][11] Market Data and Key Metrics Changes - According to Nielsen data, the coconut water category sales increased 16%, while Zola sales increased 27% in the 13-week period ending June 29, 2024 [10] - Zola's sales growth continued into Q2, with expectations of further growth due to new distribution gains [11] Company Strategy and Development Direction - The company aims to become cash flow positive by reducing costs and growing the Zola brand [3][12] - The strategy includes monetizing wheat IP and exiting underperforming brands to streamline operations [20] - The focus for the remainder of 2024 is on reducing costs and accelerating Zola's growth, with expectations of revenues in line with 2023 levels [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about Zola's growth potential and the impact of new product offerings and distribution [11][20] - The company expects to achieve a 50% decrease in cash usage in 2024 compared to 2023 [12] Other Important Information - The company completed two significant transactions in Q2 2024, monetizing parts of its wheat IP for a total of $10 million [4][5] - The company ended Q2 with $8.1 million in cash and short-term investments, a decrease from $8.5 million in the previous quarter [18] Q&A Session Summary Question: Are there any remaining crop trait assets that can be monetized? - Management confirmed that there are still a few traits in their library that are being worked on for potential monetization [21] Question: What is the timing for introducing additional Zola flavors? - Management indicated that pineapple and lime flavors just started shipping in Q2, with potential new flavors being explored for 2025 [22] Question: What market share is needed for sustainable profitability? - Management stated that they currently hold about 1% of the market and need to reach a low single-digit percentage to achieve breakeven [23] Question: Clarification on revenue makeup in Q2? - Management confirmed that there were no one-time revenues driving the outperformance in Q2 [25] Question: GLA revenue percentage in Q1 and Q2? - GLA represented 30% of revenue in Q1 and 10% in Q2, with expectations to sell through remaining inventory by the end of 2024 [26] Question: Expected cash burn exiting 2024 into 2025? - Management expects cash burn to be in the $7 million to $7.5 million range for 2024, with additional cost savings identified for 2025 [27][28]