Arcadia Biosciences Q3 revenue down 21% YoY to $1.9M; GoodWheat hits 1,000 stores

Arcadia Biosciences, Inc.

2022-Q3 EPS reported -$0.48 revenue$8,956,000

Q3 2022 revenue $1.9M vs $2.4M in Q3 2021, driven by lower body care/GLA, partly offset by GoodWheat pasta.
Gross margin improved to 28% (cost of revenues $1.3M); operating expenses cut 42% to $6.5M.
Net loss attributable to common stockholders $2.9M ($0.12 per share) vs $2.2M ($0.10) in Q3 2021.
GoodWheat pasta distribution doubled from Q2 to ~1,000 stores, reaching year-end goal early.
Company streamlined operations by divesting Saavy Naturals brand and manufacturing facility.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Arcadia Biosciences, Inc. reported the third quarter ended September 30, 2022 results: revenue $1.9 million, net income $2.9 million, EPS $0.12 per share.

Period: the third quarter ended September 30, 2022
Revenue: $1.9 million
Net income: $2.9 million
EPS: $0.12 per share
Result: reported results

Exact text from the filing

are included in the Form 8-K filed today, available in the Investors section of the company’s website under SEC Filings . 1 Revenues In the third quarter of 2022, revenues were $1.9 million, compared to $2.4 million in the third quarter of 2021 – a $498,000 decrease driven primarily by lower body care and GLA revenue, partially offset by GoodWheat pasta sales.

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Source: SEC EDGAR

accession 0000950170-22-024462

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