Arcadia begins strategic review, reports $18.8M cash and Q2 revenue guidance of $1.3-1.5M

Arcadia Biosciences, Inc.

Strategic review initiated; Lake Street Capital Markets as advisor; options include sale, merger, or other transactions.
Cash and cash equivalents of $18.8M as of June 30, 2023; Q2 revenue expected between $1.3M and $1.5M.
Exiting ProVault and SoulSpring body care brands, saving $3-4M annually starting August 2023.
Expanded GoodWheat portfolio with launch of pancake mixes; Q2 results to be announced August 10, 2023.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Arcadia Biosciences, Inc. reported the second quarter of 2023 results: revenue $1.3 million - $1.5 million.

Period: the second quarter of 2023
Revenue: $1.3 million - $1.5 million
Result: preliminary results

Exact text from the filing

As of June 30, 2023, Arcadia Biosciences had approximately $18.8 million in cash and cash equivalents. The company anticipates second-quarter revenue in the range of $1.3 million - $1.5 million.

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Arcadia Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-033652

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