$RKDA
Arcadia Biosciences, Inc.

2015 Q2 Form 10-Q Financial Statement

#000119312515233674 Filed on June 25, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q4
Revenue $1.430M $815.0K $2.800M
YoY Change 9.58% -40.81% 40.0%
Cost Of Revenue $106.0K $56.00K $70.00K
YoY Change 130.43% -38.46% -22.22%
Gross Profit $1.324M $759.0K $2.730M
YoY Change 5.16% -40.98% 42.19%
Gross Profit Margin 92.59% 93.13% 97.5%
Selling, General & Admin $2.785M $2.638M $2.290M
YoY Change -30.08% 39.95% 14.5%
% of Gross Profit 210.35% 347.56% 83.88%
Research & Development $2.086M $1.832M $2.070M
YoY Change -8.31% -7.61% -5.48%
% of Gross Profit 157.55% 241.37% 75.82%
Depreciation & Amortization $70.00K $70.00K $90.00K
YoY Change -22.22% -22.22% -10.0%
% of Gross Profit 5.29% 9.22% 3.3%
Operating Expenses $4.977M $4.526M $4.360M
YoY Change -21.05% 14.32% 4.31%
Operating Profit -$3.547M -$3.711M -$1.630M
YoY Change -29.05% 43.73% -27.88%
Interest Expense $775.0K $467.0K -$350.0K
YoY Change 94.24% 21.61% 29.63%
% of Operating Profit
Other Income/Expense, Net $735.0K -$1.396M $20.00K
YoY Change 231.08% 6547.62%
Pretax Income -$3.587M -$5.574M -$1.960M
YoY Change -30.7% 86.61% -22.83%
Income Tax $90.00K $229.0K $30.00K
% Of Pretax Income
Net Earnings -$3.677M -$5.803M -$1.990M
YoY Change -36.72% 66.94% -30.66%
Net Earnings / Revenue -257.13% -712.02% -71.07%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.688M -$2.661M -$921.3K
COMMON SHARES
Basic Shares Outstanding 43.58M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.00M $11.28M $16.57M
YoY Change 211.53%
Cash & Equivalents $80.00M $11.28M $16.57M
Short-Term Investments
Other Short-Term Assets $700.0K $250.0K $280.0K
YoY Change 233.33%
Inventory $572.0K $521.0K $424.0K
Prepaid Expenses
Receivables $145.0K $150.0K $1.042M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $81.64M $12.37M $18.70M
YoY Change 194.82%
LONG-TERM ASSETS
Property, Plant & Equipment $633.0K $663.0K $728.0K
YoY Change -16.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $500.0K $500.0K $500.0K
YoY Change -65.52%
Other Assets $118.0K $3.783M $2.817M
YoY Change -96.0%
Total Long-Term Assets $3.352M $7.047M $6.194M
YoY Change -35.04%
TOTAL ASSETS
Total Short-Term Assets $81.64M $12.37M $18.70M
Total Long-Term Assets $3.352M $7.047M $6.194M
Total Assets $84.99M $19.42M $24.89M
YoY Change 158.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.00K $80.00K $300.0K
YoY Change -98.33%
Accrued Expenses $2.950M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $3.460M $4.360M $5.610M
YoY Change -28.81%
Long-Term Debt Due $1.082M $1.055M
YoY Change
Total Short-Term Liabilities $11.78M $12.06M $11.27M
YoY Change 23.77%
LONG-TERM LIABILITIES
Long-Term Debt $19.35M $8.588M $8.869M
YoY Change 105.62%
Other Long-Term Liabilities $3.000M $3.000M $3.000M
YoY Change -58.1%
Total Long-Term Liabilities $22.35M $26.72M $26.77M
YoY Change 34.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.78M $12.06M $11.27M
Total Long-Term Liabilities $22.35M $26.72M $26.77M
Total Liabilities $37.06M $38.78M $26.77M
YoY Change 42.05%
SHAREHOLDERS EQUITY
Retained Earnings -$123.5M -$119.8M -$114.0M
YoY Change
Common Stock $171.4M $0.00 $29.20M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.93M -$91.88M -$84.77M
YoY Change
Total Liabilities & Shareholders Equity $84.99M $19.42M $24.89M
YoY Change 158.72%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q4
OPERATING ACTIVITIES
Net Income -$3.677M -$5.803M -$1.990M
YoY Change -36.72% 66.94% -30.66%
Depreciation, Depletion And Amortization $70.00K $70.00K $90.00K
YoY Change -22.22% -22.22% -10.0%
Cash From Operating Activities -$3.980M -$2.600M -$2.660M
YoY Change -36.72% 22.07% -2.92%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K $7.000K -$110.0K
YoY Change 0.0% 1000.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$10.00K -$10.00K -$110.0K
YoY Change -96.0% -98.57% 1000.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.000K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 72.73M -2.690M -1.840M
YoY Change 129.43% -627.45% -137.47%
NET CHANGE
Cash From Operating Activities -3.980M -2.600M -2.660M
Cash From Investing Activities -10.00K -10.00K -110.0K
Cash From Financing Activities 72.73M -2.690M -1.840M
Net Change In Cash 68.74M -5.300M -4.610M
YoY Change 173.21% 128.45% -313.43%
FREE CASH FLOW
Cash From Operating Activities -$3.980M -$2.600M -$2.660M
Capital Expenditures -$10.00K $7.000K -$110.0K
Free Cash Flow -$3.970M -$2.607M -$2.550M
YoY Change -36.78% -6.59%

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ARCADIA BIOSCIENCES, INC.
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions in the Company&#x2019;s condensed consolidated financial statements and notes thereto. Significant estimates and assumptions made by management included the determination of the provision for income taxes, costs to complete government grants and research contracts, and the development period of revenue-generating technologies and the estimation of inventory reserves. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates.</p> </div>
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DebtInstrumentTerm
P36M
CY2015Q1 us-gaap Contracts Revenue
ContractsRevenue
576000
CY2015Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
81000
CY2015Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-8000
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
815000
CY2015Q1 us-gaap Licenses Revenue
LicensesRevenue
158000
CY2015Q1 us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-210000
CY2015Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-24000
CY2015Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
49000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-3711000
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-5574000
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1396000
CY2015Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
23000
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7000
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7695000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-5803000
CY2015Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-892000
CY2015Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-136000
CY2015Q1 us-gaap Interest Expense
InterestExpense
467000
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
4526000
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1832000
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2638000
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-5293000
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
229000
CY2015Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
1695000
CY2015Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
56000
CY2015Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
72000
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-2688000
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2000
CY2015Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
141000
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-7000
CY2015Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
235000
CY2015Q1 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
22000
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
387000
CY2015Q1 rkda Payments Of Deferred Offering Costs
PaymentsOfDeferredOfferingCosts
1238000
CY2015Q1 rkda Effective Income Tax Rate Reconciliation Withholding Tax
EffectiveIncomeTaxRateReconciliationWithholdingTax
-0.041 pure
CY2015Q1 rkda Accretion Of Redeemable Convertible Preferred Stock
AccretionOfRedeemableConvertiblePreferredStock
1695000
CY2015Q1 rkda Deferred Stock Offering Costs Included In Accounts Payable And Accrued Liabilities
DeferredStockOfferingCostsIncludedInAccountsPayableAndAccruedLiabilities
264000
CY2015Q1 rkda Increase In Fair Value Of Warrants
IncreaseInFairValueOfWarrants
200000
CY2015Q1 rkda Entity Incorporation Year Of Incorporation
EntityIncorporationYearOfIncorporation
2002
CY2015Q1 rkda Change In Fair Value Of Derivative Liabilities Related To Convertible Promissory Notes
ChangeInFairValueOfDerivativeLiabilitiesRelatedToConvertiblePromissoryNotes
1399000
CY2015Q1 rkda Payments For Notes Payable And Convertible Promissory Notes
PaymentsForNotesPayableAndConvertiblePromissoryNotes
1452000
CY2015Q1 rkda Deemed Dividends Warrant
DeemedDividendsWarrant
197000

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