$RKDA
Arcadia Biosciences, Inc.

2015 Q3 Form 10-Q Financial Statement

#000119312515285644 Filed on August 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q2
Revenue $1.823M $1.430M $1.305M
YoY Change 21.37% 9.58%
Cost Of Revenue $61.00K $106.0K $46.00K
YoY Change -96.6% 130.43%
Gross Profit $1.762M $1.324M $1.259M
YoY Change -701.37% 5.16%
Gross Profit Margin 96.65% 92.59% 96.48%
Selling, General & Admin $2.818M $2.785M $3.983M
YoY Change 43.34% -30.08%
% of Gross Profit 159.93% 210.35% 316.36%
Research & Development $3.179M $2.086M $2.275M
YoY Change -13.71% -8.31%
% of Gross Profit 180.42% 157.55% 180.7%
Depreciation & Amortization $70.00K $70.00K $90.00K
YoY Change -22.22% -22.22% -50.0%
% of Gross Profit 3.97% 5.29% 7.15%
Operating Expenses $6.058M $4.977M $6.304M
YoY Change -18.63% -21.05%
Operating Profit -$4.296M -$3.547M -$4.999M
YoY Change -44.48% -29.05%
Interest Expense $766.0K $775.0K $399.0K
YoY Change 189.06% 94.24%
% of Operating Profit
Other Income/Expense, Net $285.0K $735.0K $222.0K
YoY Change -135.06% 231.08%
Pretax Income -$4.716M -$3.587M -$5.176M
YoY Change -32.83% -30.7%
Income Tax -$97.00K $90.00K $99.00K
% Of Pretax Income
Net Earnings -$4.619M -$3.677M -$5.811M
YoY Change -34.61% -36.72%
Net Earnings / Revenue -253.37% -257.13% -445.29%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.100M -$1.688M -$2.690M
COMMON SHARES
Basic Shares Outstanding 43.58M shares 43.58M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $74.26M $80.00M $25.68M
YoY Change 250.78% 211.53%
Cash & Equivalents $62.97M $80.00M $25.68M
Short-Term Investments $11.29M
Other Short-Term Assets $670.0K $700.0K $210.0K
YoY Change 204.55% 233.33%
Inventory $598.0K $572.0K $910.0K
Prepaid Expenses
Receivables $685.0K $145.0K $890.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $76.64M $81.64M $27.69M
YoY Change 233.37% 194.82%
LONG-TERM ASSETS
Property, Plant & Equipment $597.0K $633.0K $760.0K
YoY Change -14.71% -16.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $500.0K $500.0K $1.450M
YoY Change 0.0% -65.52%
Other Assets $102.0K $118.0K $2.950M
YoY Change -95.53% -96.0%
Total Long-Term Assets $3.331M $3.352M $5.160M
YoY Change -4.28% -35.04%
TOTAL ASSETS
Total Short-Term Assets $76.64M $81.64M $27.69M
Total Long-Term Assets $3.331M $3.352M $5.160M
Total Assets $79.97M $84.99M $32.85M
YoY Change 202.13% 158.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.00K $10.00K $600.0K
YoY Change -88.89% -98.33%
Accrued Expenses $2.170M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $3.640M $3.460M $4.860M
YoY Change -32.47% -28.81%
Long-Term Debt Due $30.00K
YoY Change
Total Short-Term Liabilities $10.90M $11.78M $9.520M
YoY Change 1.16% 23.77%
LONG-TERM LIABILITIES
Long-Term Debt $19.46M $19.35M $9.410M
YoY Change 112.93% 105.62%
Other Long-Term Liabilities $3.000M $3.000M $7.160M
YoY Change -56.2% -58.1%
Total Long-Term Liabilities $22.46M $22.35M $16.57M
YoY Change 40.48% 34.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.90M $11.78M $9.520M
Total Long-Term Liabilities $22.46M $22.35M $16.57M
Total Liabilities $36.14M $37.06M $26.09M
YoY Change 35.05% 42.05%
SHAREHOLDERS EQUITY
Retained Earnings -$128.1M -$123.5M
YoY Change
Common Stock $171.9M $171.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $43.83M $47.93M $6.750M
YoY Change
Total Liabilities & Shareholders Equity $79.97M $84.99M $32.85M
YoY Change 202.13% 158.72%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$4.619M -$3.677M -$5.811M
YoY Change -34.61% -36.72%
Depreciation, Depletion And Amortization $70.00K $70.00K $90.00K
YoY Change -22.22% -22.22% -50.0%
Cash From Operating Activities -$4.580M -$3.980M -$6.290M
YoY Change 23.45% -36.72% 51.93%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K -$10.00K -$10.00K
YoY Change 100.0% 0.0% -88.89%
Acquisitions
YoY Change
Other Investing Activities -$11.29M $0.00 -$240.0K
YoY Change 2158.0% -100.0% -52.0%
Cash From Investing Activities -$11.35M -$10.00K -$250.0K
YoY Change 2041.51% -96.0% -57.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.110M 72.73M 31.70M
YoY Change 326.92% 129.43% 316900.0%
NET CHANGE
Cash From Operating Activities -4.580M -3.980M -6.290M
Cash From Investing Activities -11.35M -10.00K -250.0K
Cash From Financing Activities -1.110M 72.73M 31.70M
Net Change In Cash -17.04M 68.74M 25.16M
YoY Change 278.67% 173.21% -633.05%
FREE CASH FLOW
Cash From Operating Activities -$4.580M -$3.980M -$6.290M
Capital Expenditures -$60.00K -$10.00K -$10.00K
Free Cash Flow -$4.520M -$3.970M -$6.280M
YoY Change 22.83% -36.78% 55.06%

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dei Document Period End Date
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2015-06-30
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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, 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>
us-gaap Operating Income Loss
OperatingIncomeLoss
-7258000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
100000
us-gaap Licenses Revenue
LicensesRevenue
559000
us-gaap Income Taxes Paid
IncomeTaxesPaid
149000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-661000
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
85454000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-897000
us-gaap Sales Revenue Net
SalesRevenueNet
2245000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
59000
us-gaap Contracts Revenue
ContractsRevenue
1426000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
290000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
260000
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
46000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
23000
us-gaap Net Income Loss
NetIncomeLoss
-9480000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
28000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12251000
dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
Arizona
dei Trading Symbol
TradingSymbol
RKDA
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12985332 shares
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.032 pure
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
2574000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-584000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
63432000
us-gaap Operating Expenses
OperatingExpenses
9503000
us-gaap Interest Expense
InterestExpense
1242000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-23000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
70037000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3918000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
68226000
us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
2574000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
969000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
28000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
85454000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
343000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5423000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
162000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
141000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
20000000
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-46000
rkda Payments On Notes Payable To Related Party
PaymentsOnNotesPayableToRelatedParty
8000000
rkda Increase In Fair Value Of Warrants
IncreaseInFairValueOfWarrants
200000
rkda Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
2 pure
rkda Accretion Of Redeemable Convertible Preferred Stock
AccretionOfRedeemableConvertiblePreferredStock
2574000
rkda Reclassification Of Deferred Initial Public Offering Costs To Equity
ReclassificationOfDeferredInitialPublicOfferingCostsToEquity
5111000
rkda Issuance Of Warrants And Derivatives
IssuanceOfWarrantsAndDerivatives
437000
rkda Initial Public Offering Costs Included In Accounts Payable And Accrued Liabilities
InitialPublicOfferingCostsIncludedInAccountsPayableAndAccruedLiabilities
1488000
rkda Entity Incorporation Year Of Incorporation
EntityIncorporationYearOfIncorporation
2002
rkda Deemed Dividends Warrant
DeemedDividendsWarrant
197000
rkda Change In Fair Value Of Derivative Liabilities Related To Convertible Promissory Notes
ChangeInFairValueOfDerivativeLiabilitiesRelatedToConvertiblePromissoryNotes
1108000
rkda Payments For Notes Payable And Convertible Promissory Notes
PaymentsForNotesPayableAndConvertiblePromissoryNotes
3122000
rkda Deemed Dividend To Common Stock Warrant Holder
DeemedDividendToCommonStockWarrantHolder
197000
rkda Gain On Expiration Of Warrant And Derivative Liability Related To Notes Payable
GainOnExpirationOfWarrantAndDerivativeLiabilityRelatedToNotesPayable
437000
rkda Adjustments To Additional Paid In Capital Increase Due To Modification
AdjustmentsToAdditionalPaidInCapitalIncreaseDueToModification
197000
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-18339000
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
19000
CY2014 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
976000
CY2014 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
2396000
CY2014 us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
-48783000
CY2014 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
3738000
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.08
CY2014Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
-219000
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2056559 shares
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4999000
CY2014Q2 us-gaap Licenses Revenue
LicensesRevenue
195000
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
222000
CY2014Q2 us-gaap Contracts Revenue
ContractsRevenue
1045000
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
65000
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
735000
CY2015Q2 us-gaap Contracts Revenue
ContractsRevenue
850000
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
179000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-3587000
CY2014Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-536000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-5176000
CY2015Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
23000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-3677000
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4556000
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1430000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-3547000
CY2015Q2 us-gaap Licenses Revenue
LicensesRevenue
401000
CY2014Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.020 pure
CY2014Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
23000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-5811000
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6329000
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1305000
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
99000
CY2014Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
518000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
6304000
CY2014Q2 us-gaap Interest Expense
InterestExpense
399000
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2275000
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3983000
CY2014Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
46000
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.19
CY2015Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
-291000
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23775368 shares
CY2015Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.032 pure
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
90000
CY2015Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
879000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
4977000
CY2015Q2 us-gaap Interest Expense
InterestExpense
775000
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2086000
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2785000
CY2015Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
106000

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