Arcadia Q4 revenues up 57% to $1.2M; full-year net loss narrows to $14.0M

Arcadia Biosciences, Inc.

Q4 2023 product revenue $1.17M (+57% YoY); full-year revenue $5.33M (-28% from $7.42M due to prior-year grain sales and license revenue).
Full-year net loss att. to common stockholders $13.98M ($11.30/share) vs $15.38M ($25.65/share) in 2022, improved by lower operating expenses.
Cash, equivalents, and short-term investments totaled $11.6M at Dec. 31, 2023, down from $20.6M a year earlier; operating cash burn $15.3M.
GoodWheat now in three categories (pasta, pancake/waffle mixes, mac & cheese) and >3,500 stores; Zola coconut water launched pineapple and lime flavors in Q1 2024.
Company initiated strategic review in mid-2023 with Lake Street Capital Markets to explore M&A, sale, or other transactions to maximize GoodWheat value.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Arcadia Biosciences, Inc. reported financial results for the fourth quarter and year ended December 31, 2023.

Period: the fourth quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 28, 2024 Arcadia Biosciences, Inc. (the “Company”) issued a press release announcing financial results for the fourth quarter and year ended December 31, 2023.

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Source: SEC EDGAR

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