$RKDA
Arcadia Biosciences, Inc.

2015 Q3 Form 10-Q Financial Statement

#000156459015009725 Filed on November 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $1.823M $1.502M
YoY Change 21.37% -17.47%
Cost Of Revenue $61.00K $1.795M
YoY Change -96.6% 1894.44%
Gross Profit $1.762M -$293.0K
YoY Change -701.37% -116.94%
Gross Profit Margin 96.65% -19.51%
Selling, General & Admin $2.818M $1.966M
YoY Change 43.34% 0.82%
% of Gross Profit 159.93%
Research & Development $3.179M $3.684M
YoY Change -13.71% 51.6%
% of Gross Profit 180.42%
Depreciation & Amortization $70.00K $90.00K
YoY Change -22.22% -18.18%
% of Gross Profit 3.97%
Operating Expenses $6.058M $7.445M
YoY Change -18.63% 69.98%
Operating Profit -$4.296M -$7.738M
YoY Change -44.48% 192.0%
Interest Expense $766.0K $265.0K
YoY Change 189.06% -276.67%
% of Operating Profit
Other Income/Expense, Net $285.0K -$813.0K
YoY Change -135.06%
Pretax Income -$4.716M -$7.021M
YoY Change -32.83% 151.65%
Income Tax -$97.00K $43.00K
% Of Pretax Income
Net Earnings -$4.619M -$7.064M
YoY Change -34.61% 89.89%
Net Earnings / Revenue -253.37% -470.31%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.100M -$3.269M
COMMON SHARES
Basic Shares Outstanding 43.58M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $74.26M $21.17M
YoY Change 250.78%
Cash & Equivalents $62.97M $21.17M
Short-Term Investments $11.29M
Other Short-Term Assets $670.0K $220.0K
YoY Change 204.55%
Inventory $598.0K $440.0K
Prepaid Expenses
Receivables $685.0K $1.150M
Other Receivables $0.00 $0.00
Total Short-Term Assets $76.64M $22.99M
YoY Change 233.37%
LONG-TERM ASSETS
Property, Plant & Equipment $597.0K $700.0K
YoY Change -14.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $500.0K $500.0K
YoY Change 0.0%
Other Assets $102.0K $2.280M
YoY Change -95.53%
Total Long-Term Assets $3.331M $3.480M
YoY Change -4.28%
TOTAL ASSETS
Total Short-Term Assets $76.64M $22.99M
Total Long-Term Assets $3.331M $3.480M
Total Assets $79.97M $26.47M
YoY Change 202.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.00K $180.0K
YoY Change -88.89%
Accrued Expenses $2.450M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $3.640M $5.390M
YoY Change -32.47%
Long-Term Debt Due $10.00K
YoY Change
Total Short-Term Liabilities $10.90M $10.77M
YoY Change 1.16%
LONG-TERM LIABILITIES
Long-Term Debt $19.46M $9.140M
YoY Change 112.93%
Other Long-Term Liabilities $3.000M $6.850M
YoY Change -56.2%
Total Long-Term Liabilities $22.46M $15.99M
YoY Change 40.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.90M $10.77M
Total Long-Term Liabilities $22.46M $15.99M
Total Liabilities $36.14M $26.76M
YoY Change 35.05%
SHAREHOLDERS EQUITY
Retained Earnings -$128.1M
YoY Change
Common Stock $171.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $43.83M -$290.0K
YoY Change
Total Liabilities & Shareholders Equity $79.97M $26.47M
YoY Change 202.13%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$4.619M -$7.064M
YoY Change -34.61% 89.89%
Depreciation, Depletion And Amortization $70.00K $90.00K
YoY Change -22.22% -18.18%
Cash From Operating Activities -$4.580M -$3.710M
YoY Change 23.45% 29.27%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K -$30.00K
YoY Change 100.0%
Acquisitions
YoY Change
Other Investing Activities -$11.29M -$500.0K
YoY Change 2158.0%
Cash From Investing Activities -$11.35M -$530.0K
YoY Change 2041.51%
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 -260.0K
YoY Change 326.92% -108.93%
NET CHANGE
Cash From Operating Activities -4.580M -3.710M
Cash From Investing Activities -11.35M -530.0K
Cash From Financing Activities -1.110M -260.0K
Net Change In Cash -17.04M -4.500M
YoY Change 278.67% -11350.0%
FREE CASH FLOW
Cash From Operating Activities -$4.580M -$3.710M
Capital Expenditures -$60.00K -$30.00K
Free Cash Flow -$4.520M -$3.680M
YoY Change 22.83% 28.22%

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rkda Payments On Notes Payable To Related Party
PaymentsOnNotesPayableToRelatedParty
8000000
rkda Payments For Notes Payable And Convertible Promissory Notes
PaymentsForNotesPayableAndConvertiblePromissoryNotes
3122000
rkda Payments For Notes Payable And Convertible Promissory Notes
PaymentsForNotesPayableAndConvertiblePromissoryNotes
836000
rkda Payments For Capital Lease Obligation
PaymentsForCapitalLeaseObligation
59000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
68928000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
31947000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
46395000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
18335000
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2835000
CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21170000
us-gaap Interest Paid
InterestPaid
1411000
us-gaap Interest Paid
InterestPaid
571000
us-gaap Income Taxes Paid
IncomeTaxesPaid
149000
us-gaap Income Taxes Paid
IncomeTaxesPaid
83000
rkda Accretion Of Redeemable Convertible Preferred Stock
AccretionOfRedeemableConvertiblePreferredStock
2574000
rkda Accretion Of Redeemable Convertible Preferred Stock
AccretionOfRedeemableConvertiblePreferredStock
2088000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1000
rkda Deferred Stock Offering Costs Included In Accounts Payable And Accrued Liabilities
DeferredStockOfferingCostsIncludedInAccountsPayableAndAccruedLiabilities
155000
rkda Deferred Stock Offering Costs Included In Accounts Payable And Accrued Liabilities
DeferredStockOfferingCostsIncludedInAccountsPayableAndAccruedLiabilities
214000
rkda Reclassification Of Deferred Initial Public Offering Costs To Equity
ReclassificationOfDeferredInitialPublicOfferingCostsToEquity
5026000
rkda Issuance Of Warrants And Derivatives
IssuanceOfWarrantsAndDerivatives
437000
rkda Stock Option Exercise Cost Included In Accounts Receivable
StockOptionExerciseCostIncludedInAccountsReceivable
19000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
85455000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:8pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentrations of Credit Risk </p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Financial instruments that potentially subject us to a concentration of credit risk consist of cash, money market funds and fixed income investments. Although we deposit our cash with multiple financial institutions, our deposits, at times, exceed federally insured limits. We invest in fixed income securities that are of high-credit quality. </p></div>
CY2015Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1700000
CY2014Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1700000
dei Entity Incorporation State Country Name
EntityIncorporationStateCountryName
Arizona
rkda Entity Incorporation Year Of Incorporation
EntityIncorporationYearOfIncorporation
2002
rkda Entity Reincorporation State Country Name
EntityReincorporationStateCountryName
Delaware
rkda Entity Reincorporation Date Of Reincorporation
EntityReincorporationDateOfReincorporation
2015-03
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
one-for-four
us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
At the closing of the IPO, all of the outstanding shares of convertible preferred stock and redeemable convertible preferred stock were automatically converted into 32,972,793 shares of common stock.
CY2015Q2 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
32972793
CY2015Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
CY2014Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
2800000
CY2015Q3 rkda Inventory Raw Materials Current And Non Current
InventoryRawMaterialsCurrentAndNonCurrent
1183000
CY2014Q4 rkda Inventory Raw Materials Current And Non Current
InventoryRawMaterialsCurrentAndNonCurrent
1004000
CY2015Q3 rkda Inventory Finished Goods Current And Non Current
InventoryFinishedGoodsCurrentAndNonCurrent
1547000
CY2014Q4 rkda Inventory Finished Goods Current And Non Current
InventoryFinishedGoodsCurrentAndNonCurrent
1569000
CY2015Q3 rkda Inventory Current And Non Current Net
InventoryCurrentAndNonCurrentNet
2730000
CY2014Q4 rkda Inventory Current And Non Current Net
InventoryCurrentAndNonCurrentNet
2573000
CY2014 rkda Investment In Fixed Income Securities
InvestmentInFixedIncomeSecurities
0
us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0
CY2015Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
63987000
CY2015Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
2688000
CY2014Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
994000
CY2014Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
1580000
CY2013Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
1192000
CY2015Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
-263000
CY2014Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
596000
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
845000
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
398000
CY2015Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
2425000
CY2014Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
1590000
CY2014Q4 us-gaap Notes Payable
NotesPayable
1924000
CY2015Q3 us-gaap Long Term Debt
LongTermDebt
19462000
CY2014Q4 us-gaap Long Term Debt
LongTermDebt
9924000
CY2014Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1055000
CY2015Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
19462000
CY2014Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
8869000
CY2013Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
2000000
CY2013Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
1100000
CY2013Q3 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
500000
CY2013Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
4500000
rkda Increase In Fair Value Of Warrants
IncreaseInFairValueOfWarrants
200000
rkda Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
2
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2015Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.021
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.016
CY2014Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.006
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.015
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5401892
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
38256766

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