Arcadia Q2 2024 net income $1.1M; sells wheat IP to Corteva for $4M

Arcadia Biosciences, Inc.

2024-Q2 EPS reported -$1.00 revenue$2,293,000

Q2 revenue $1.306M (flat YoY); net income $1.061M ($0.78/diluted share) vs $823K ($0.61) in Q2 2023.
Sold Resistant Starch durum trait to Corteva for $4M cash; GoodWheat brand sold to Above Food for $4M over 3 years.
Zola coconut water sales up 42% YoY; new pineapple and lime flavors shipping in Q2.
Net loss H1 2024 $1.362M ($1.00/share) improved from $8.561M ($7.70) H1 2023, helped by Corteva gain.
CEO Stan Jacot departed; Thomas J. Schaefer (former CFO) appointed president and CEO.

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