Arcadia Biosciences, Inc. RKDA
Arcadia has leveraged its history as a leader in science-based approaches to develop high value products and drive innovation in the consumer goods industry. Since acquiring the assets of Zola in May 2021, Arcadia has provided consumers with a way to rehydrate, reset, and reenergize with Zola coconut water products. Previously, Arcadia developed products, primarily in wheat, which it commercialized through the sale of food products, trait licensing and royalty agreements.
On May 14, 2024, Arcadia sold its non-GMO Resistant Starch ("RS") durum wheat trait to longtime partner Corteva Agriscience ("Corteva") for total cash consideration of $4.0 million. Refer to Note 11 to the consolidated financial statements for further details of the transaction.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.9M | $5.0M | $4.5M | $7.4M | $6.8M | $8.0M | $1.2M | $1.5M | $4.0M | $3.2M |
| Cost of revenue | $3.1M | $3.0M | $2.2M | $6.1M | $8.7M | $5.2M | — | — | $283.0K | $895.0K |
| Gross profit | $1.8M | $2.1M | $2.3M | $1.3M | -$1.9M | $2.8M | — | — | $3.7M | $2.3M |
| R&D | $9.0K | $53.0K | $64.0K | $1.5M | $3.9M | $8.0M | $7.1M | $6.1M | $7.4M | $8.7M |
| SG&A | $7.0M | $9.6M | $8.2M | $15.0M | $22.9M | $16.5M | $13.6M | $11.6M | $10.7M | $12.2M |
| Total operating expenses | $7.4M | $8.7M | $10.6M | $21.4M | $42.3M | $20.8M | $20.6M | $18.3M | $18.3M | $21.8M |
| Operating income | -$2.5M | -$3.6M | -$6.1M | -$14.0M | -$35.5M | -$12.8M | -$19.4M | -$16.9M | -$14.3M | -$18.6M |
| Interest expense | $221.0K | $782.0K | $695.0K | $289.0K | $20.0K | $47.0K | $5.0K | — | $747.0K | $1.3M |
| Pre-tax income | -$2.3M | -$4.3M | -$5.3M | -$10.8M | -$16.1M | -$6.2M | -$28.9M | -$13.5M | -$15.7M | -$19.6M |
| Income tax | $8.0K | $8.0K | $8.0K | $14.0K | $2.0K | $124.0K | $2.0K | $10.0K | $26.0K | $25.0K |
| Net income | -$2.3M | -$7.0M | -$14.0M | -$15.4M | -$14.7M | -$4.7M | -$28.8M | -$13.5M | -$15.7M | -$19.6M |
| EPS, basic | -1.71 | -5.17 | -11.29 | -25.65 | -27.56 | — | — | — | — | — |
| EPS, diluted | -1.71 | -5.17 | -11.29 | -25.65 | -27.56 | -0.47 | -4.53 | -3.58 | -7.28 | -8.85 |
| Shares, diluted (wtd. avg.) | $1.4M | $1.4M | $1.2M | $599.4K | $532.0K | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $259.0K | $4.2M | $6.5M | $20.6M | $28.7M | $14.0M | $8.4M | $12.0M | $9.1M | $2.0M |
| Short-term investments | $4.3M | $0 | $5.1M | $0 | — | $11.6M | $16.9M | $9.8M | $3.9M | $48.5M |
| Receivables | — | — | — | — | $1.4M | $1.4M | $602.0K | $165.0K | $1.2M | $349.0K |
| Inventory | $1.2M | $904.0K | $837.0K | $2.3M | $4.4M | $3.8M | $1.8M | $181.0K | $229.0K | $252.0K |
| Total current assets | $6.4M | $9.2M | $15.0M | $25.4M | $35.4M | $31.7M | $28.4M | $22.9M | $15.0M | $52.2M |
| Property, plant and equipment | $8.0K | $41.0K | $70.0K | $680.0K | $2.3M | $3.5M | $1.8M | $395.0K | $299.0K | $508.0K |
| Goodwill | — | — | — | — | — | $408.0K | — | — | — | — |
| Other intangibles | $39.0K | $39.0K | $39.0K | $40.0K | $484.0K | $370.0K | — | — | — | — |
| Total assets | $6.5M | $13.5M | $19.7M | $28.9M | $43.9M | $47.3M | $32.6M | $24.0M | $16.6M | $56.6M |
| Accounts payable | $1.8M | $2.1M | $1.9M | $2.9M | $3.6M | $4.1M | $4.7M | $2.6M | $2.5M | $2.4M |
| Short-term debt | — | — | — | — | $0 | $1.1M | $24.0K | — | — | $0 |
| Total current liabilities | $2.1M | $2.6M | $3.6M | $4.2M | $5.0M | $6.3M | $5.7M | $3.1M | $3.5M | $3.1M |
| Long-term debt | — | — | — | — | $0 | $2.1M | $107.0K | $0 | $0 | $25.1M |
| Total liabilities | $2.4M | $7.3M | $7.0M | $8.0M | $12.7M | $18.8M | $24.2M | $11.2M | $8.6M | $34.4M |
| Retained earnings | -$281.2M | -$278.9M | -$271.8M | -$257.9M | -$226.5M | -$211.8M | -$207.2M | -$178.4M | -$167.3M | -$151.6M |
| Total equity | $4.1M | $6.2M | $12.7M | $20.9M | $31.2M | $28.6M | $8.3M | $12.8M | $8.0M | $22.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$4.7M | -$9.6M | -$15.3M | -$14.0M | -$25.9M | -$30.2M | -$17.2M | -$13.6M | -$14.0M | -$17.1M |
| Depreciation and amortisation | $32.0K | $58.0K | $111.0K | $439.0K | $929.0K | $632.0K | $194.0K | $154.0K | $279.0K | — |
| Stock-based compensation | $234.0K | $512.0K | $717.0K | $1.1M | $1.5M | $2.0M | $2.3M | $1.6M | $1.5M | $1.1M |
| Capital expenditure | $0 | $16.0K | $5.0K | $72.0K | $1.0M | $2.3M | $1.5M | $250.0K | $79.0K | $231.0K |
| Investing cash flow | $750.0K | $7.3M | -$4.3M | $1.4M | $16.6M | $17.3M | -$8.4M | -$6.0M | $47.2M | -$5.3M |
| Financing cash flow | $6.0K | $9.0K | $5.5M | $4.5M | $21.9M | $20.6M | $22.0M | $22.5M | -$26.1M | $396.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-342437.
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