Welcome to our dedicated page for Arcadia Bioscien news (Ticker: RKDA), a resource for investors and traders seeking the latest updates and insights on Arcadia Bioscien stock.
Arcadia Biosciences, Inc. (Nasdaq: RKDA) regularly issues news and updates as a producer and marketer of plant-based and innovative wellness products. With its roots in agricultural innovation and a current focus on Zola coconut water and related wellness offerings, the company’s announcements provide insight into its operating performance, strategic direction, and capital markets activity.
News items for RKDA often include quarterly and annual financial results, where Arcadia reports revenue trends, gross margin performance, and changes in operating expenses. These releases detail how Zola coconut water revenues and distribution have evolved over time, and how asset sales, credit losses, and fair value changes in financial instruments have affected net income or loss attributable to common stockholders.
Arcadia’s news flow also covers strategic transactions and corporate actions. Examples include the sale of its GoodWheat brand and wheat-related intellectual property, agreements to transfer or terminate certain patent rights, and the previously announced but later terminated proposed business combination with Roosevelt Resources, LP. Press releases describe the rationale for these actions and their role in streamlining operations and evaluating strategic alternatives.
Investors following RKDA news will also see capital-raising and securities-related announcements, such as inducement transactions involving preferred investment options and the issuance of new options and placement agent options, as disclosed in company filings and related press releases. In addition, Arcadia publishes notices about upcoming earnings releases, conference calls, and virtual stockholder meetings, along with proxy and governance information.
This news page aggregates these disclosures so readers can review Arcadia’s earnings reports, transaction updates, financing developments, and governance communications in one place. For those tracking RKDA, the feed offers a structured view of how the company describes its business focus, financial condition, and strategic plans over time.
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Arcadia Biosciences reported a remarkable 47% increase in total revenues for 2022, reaching $9.96 million, driven by strong sales of GoodWheat pasta and coconut water. Operating expenses declined by 32% to $28.8 million, significantly reducing cash burn. The launch of GoodWheat pasta exceeded expectations, distributing in over 1,200 stores within seven months. The company also unveiled Project Greenfield, a three-year plan to enhance profitability and product expansion. Despite the progress, net losses for the year increased to $15.4 million, highlighting ongoing challenges.
Arcadia Biosciences (Nasdaq: RKDA) will release its financial results for the fourth quarter and full year of 2022 on March 30, 2023, after market close. A conference call to discuss these results and key strategic achievements will take place at 4:30 p.m. ET (1:30 p.m. PT). Interested parties can access the call via an audio-only webcast on the Investors section of their website. Recorded replays will also be available post-call.
Arcadia Biosciences (Nasdaq: RKDA) announced a $6.0 million private placement of 666,334 shares of common stock at $9.00 per share, alongside Series A and Series B preferred investment options. The placement, expected to close by March 6, 2023, aims to fund Project Greenfield, a strategic plan designed to enhance profitability through expanding retail for products like GoodWheat™ high-fiber pasta and Zola coconut water. Additionally, the company will amend existing investment options to reduce their exercise price to $9.00 per share. An SEC registration statement for the resale of shares is targeted for filing by April 3, 2023.
GoodWheat™ pasta has achieved the American Heart Association's Heart-Check mark for its five varieties, marking a significant step towards healthier eating. Each serving contains 8g of fiber and 9g of protein, providing four times the fiber of traditional pasta. This certification underscores GoodWheat's compliance with strict nutritional standards, emphasizing high fiber, low sodium, and zero saturated fat. Cultivated by Arcadia Biosciences (Nasdaq: RKDA), GoodWheat is Non-GMO Project verified and sourced from USA farms. It is currently available in over 1,000 retail locations and on Amazon.
Arcadia Biosciences, Inc. (Nasdaq: RKDA) announced that its GoodWheat™ pasta is now available in over 1,000 retail locations, doubling its distribution since the launch in June 2022. The pasta offers significant health benefits, containing four times the fiber and 25% more protein than traditional pasta. CEO Stan Jacot highlighted the growing consumer demand for healthy alternatives. GoodWheat pasta, made from proprietary non-GMO wheat, helps address low fiber intake among Americans. For more information, visit eatgoodwheat.com.
Arcadia Biosciences (NASDAQ: RKDA) announced the departure of CFO Pam Haley, effective January 3, 2023, with Thomas J. Schaefer stepping into the role. Schaefer, currently the company's vice president of finance and investor relations, brings over 20 years of finance experience, having previously worked in equity research and corporate finance. He has contributed to key initiatives, including the launch of GoodWheat and the Project Greenfield long-term strategy. Haley will remain in an advisory capacity during the transition.
Arcadia Biosciences (Nasdaq: RKDA) reported a Q3 2022 revenue of $1.9 million, down 21% from $2.4 million in Q3 2021. However, revenues for the first nine months of 2022 surged 94% to $9 million. The launch of GoodWheat™ Pasta contributed to growth, doubling distribution and improving gross margins to 28%. Operating expenses fell 42% year-over-year. Despite improvements, the net loss attributable to common stockholders widened to $2.9 million, compared to $2.2 million in the same period last year. The company continues to focus on streamlining operations for long-term profitability.
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