$RKDA
Arcadia Biosciences, Inc.

2016 Q2 Form 10-Q Financial Statement

#000156459016023753 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q4 2015 Q2
Revenue $65.00K $1.350M $1.430M
YoY Change -95.45% -51.79% 9.58%
Cost Of Revenue $35.00K $670.0K $106.0K
YoY Change -66.98% 857.14% 130.43%
Gross Profit $30.00K $680.0K $1.324M
YoY Change -97.73% -75.09% 5.16%
Gross Profit Margin 46.15% 50.37% 92.59%
Selling, General & Admin $2.759M $2.880M $2.785M
YoY Change -0.93% 25.76% -30.08%
% of Gross Profit 9196.67% 423.53% 210.35%
Research & Development $2.216M $1.870M $2.086M
YoY Change 6.23% -9.66% -8.31%
% of Gross Profit 7386.67% 275.0% 157.55%
Depreciation & Amortization $80.00K $80.00K $70.00K
YoY Change 14.29% -11.11% -22.22%
% of Gross Profit 266.67% 11.76% 5.29%
Operating Expenses $5.010M $4.750M $4.977M
YoY Change 0.66% 8.94% -21.05%
Operating Profit -$4.289M -$4.070M -$3.547M
YoY Change 20.92% 149.69% -29.05%
Interest Expense $327.0K -$650.0K $775.0K
YoY Change -57.81% 85.71% 94.24%
% of Operating Profit
Other Income/Expense, Net $76.00K $900.0K $735.0K
YoY Change -89.66% 4400.0% 231.08%
Pretax Income -$4.540M -$4.050M -$3.587M
YoY Change 26.57% 106.63% -30.7%
Income Tax $11.00K -$200.0K $90.00K
% Of Pretax Income
Net Earnings -$4.551M -$3.860M -$3.677M
YoY Change 23.77% 93.97% -36.72%
Net Earnings / Revenue -7001.54% -285.93% -257.13%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.050M -$1.731M -$1.688M
COMMON SHARES
Basic Shares Outstanding 43.58M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q4 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.23M $50.24M $80.00M
YoY Change -32.21% 203.2% 211.53%
Cash & Equivalents $27.36M $23.97M $80.00M
Short-Term Investments $26.87M $26.27M
Other Short-Term Assets $1.390M $690.0K $700.0K
YoY Change 98.57% 146.43% 233.33%
Inventory $310.0K $294.0K $572.0K
Prepaid Expenses
Receivables $270.0K $706.0K $145.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $56.20M $52.02M $81.64M
YoY Change -31.16% 178.24% 194.82%
LONG-TERM ASSETS
Property, Plant & Equipment $640.0K $585.0K $633.0K
YoY Change 1.11% -19.64% -16.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.910M $19.75M $500.0K
YoY Change 1282.0% 3850.0% -65.52%
Other Assets $1.970M $25.00K $118.0K
YoY Change 1569.49% -99.11% -96.0%
Total Long-Term Assets $9.510M $22.23M $3.352M
YoY Change 183.71% 258.81% -35.04%
TOTAL ASSETS
Total Short-Term Assets $56.20M $52.02M $81.64M
Total Long-Term Assets $9.510M $22.23M $3.352M
Total Assets $65.71M $74.24M $84.99M
YoY Change -22.68% 198.29% 158.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.00K $440.0K $10.00K
YoY Change 100.0% 46.67% -98.33%
Accrued Expenses $2.000M
YoY Change -32.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $3.460M
YoY Change -100.0% -100.0% -28.81%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $4.079M $3.450M $11.78M
YoY Change -65.38% -69.39% 23.77%
LONG-TERM LIABILITIES
Long-Term Debt $25.03M $24.93M $19.35M
YoY Change 29.35% 181.09% 105.62%
Other Long-Term Liabilities $3.000M $3.000M $3.000M
YoY Change 0.0% 0.0% -58.1%
Total Long-Term Liabilities $28.03M $27.93M $22.35M
YoY Change 25.41% 4.32% 34.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.079M $3.450M $11.78M
Total Long-Term Liabilities $28.03M $27.93M $22.35M
Total Liabilities $34.42M $34.02M $37.06M
YoY Change -7.13% 27.05% 42.05%
SHAREHOLDERS EQUITY
Retained Earnings -$141.7M -$131.9M -$123.5M
YoY Change 14.76% 15.76%
Common Stock $173.0M $172.3M $171.4M
YoY Change 0.92% 489.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.29M $40.23M $47.93M
YoY Change
Total Liabilities & Shareholders Equity $65.71M $74.24M $84.99M
YoY Change -22.68% 198.29% 158.72%

Cashflow Statement

Concept 2016 Q2 2015 Q4 2015 Q2
OPERATING ACTIVITIES
Net Income -$4.551M -$3.860M -$3.677M
YoY Change 23.77% 93.97% -36.72%
Depreciation, Depletion And Amortization $80.00K $80.00K $70.00K
YoY Change 14.29% -11.11% -22.22%
Cash From Operating Activities -$3.990M -$3.950M -$3.980M
YoY Change 0.25% 48.5% -36.72%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K -$70.00K -$10.00K
YoY Change 500.0% -36.36% 0.0%
Acquisitions
YoY Change
Other Investing Activities $1.740M -$34.92M $0.00
YoY Change -100.0%
Cash From Investing Activities $1.680M -$34.99M -$10.00K
YoY Change -16900.0% 31709.09% -96.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 140.0K -60.00K 72.73M
YoY Change -99.81% -96.74% 129.43%
NET CHANGE
Cash From Operating Activities -3.990M -3.950M -3.980M
Cash From Investing Activities 1.680M -34.99M -10.00K
Cash From Financing Activities 140.0K -60.00K 72.73M
Net Change In Cash -2.170M -39.00M 68.74M
YoY Change -103.16% 745.99% 173.21%
FREE CASH FLOW
Cash From Operating Activities -$3.990M -$3.950M -$3.980M
Capital Expenditures -$60.00K -$70.00K -$10.00K
Free Cash Flow -$3.930M -$3.880M -$3.970M
YoY Change -1.01% 52.16% -36.78%

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0.001
CY2016Q2 rkda Inventory Raw Materials Current And Non Current
InventoryRawMaterialsCurrentAndNonCurrent
759000
CY2015Q4 rkda Inventory Raw Materials Current And Non Current
InventoryRawMaterialsCurrentAndNonCurrent
665000
CY2016Q2 rkda Inventory Finished Goods Current And Non Current
InventoryFinishedGoodsCurrentAndNonCurrent
1421000
CY2015Q4 rkda Inventory Finished Goods Current And Non Current
InventoryFinishedGoodsCurrentAndNonCurrent
1496000
CY2016Q2 rkda Inventory Current And Non Current Net
InventoryCurrentAndNonCurrentNet
2180000
CY2015Q4 rkda Inventory Current And Non Current Net
InventoryCurrentAndNonCurrentNet
2161000
CY2016Q2 rkda Inventory Reserves For Excess And Slow Moving Inventory
InventoryReservesForExcessAndSlowMovingInventory
2300000
CY2015Q4 rkda Inventory Reserves For Excess And Slow Moving Inventory
InventoryReservesForExcessAndSlowMovingInventory
2300000
CY2016Q2 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
60410000
CY2016Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
6000
CY2016Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
12000
CY2016Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
60404000
CY2015Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
67930000
CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
116000
CY2015Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
67815000
CY2016Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
rkda Maturity Of Long Term Investments
MaturityOfLongTermInvestments
2017
CY2016Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
60404000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.30
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
3.58
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3707000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2500000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
2252000
CY2016Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
880000
CY2015Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
67815000
us-gaap Variable Interest Entity Terms Of Arrangements
VariableInterestEntityTermsOfArrangements
Both the Company and Bioceres incur expenses in support of specific agreed activities, as defined by joint work plans, which apply fair market value to each partner’s activities. Unequal contributions of services are equalized by the partners through cash payments. Verdeca is not the primary obligor for these activities performed by the Company or Bioceres. An agreement executed in conjunction with the formation of Verdeca specified that if Bioceres determines it requires cash to fund its contributed services (subject to certain annual limits), Bioceres, S.A. may elect to sell shares of its common stock to the Company for an amount not exceeding $5.0 million in the aggregate over a four-year period.
rkda Contributed Services Period
ContributedServicesPeriod
P4Y
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
2000000
CY2014Q3 rkda Common Stock Shares Surrendered
CommonStockSharesSurrendered
1832
rkda Research Agreement Settled
ResearchAgreementSettled
205000
CY2016Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
632
CY2016Q2 us-gaap Fair Value Hedges At Fair Value Net
FairValueHedgesAtFairValueNet
500000
CY2016Q2 us-gaap Cost Method Investments
CostMethodInvestments
0
CY2016Q2 us-gaap Variable Interest Entity Activity Between Vie And Entity Expense
VariableInterestEntityActivityBetweenVIEAndEntityExpense
83000
CY2015Q2 us-gaap Variable Interest Entity Activity Between Vie And Entity Expense
VariableInterestEntityActivityBetweenVIEAndEntityExpense
123000
us-gaap Variable Interest Entity Activity Between Vie And Entity Expense
VariableInterestEntityActivityBetweenVIEAndEntityExpense
123000
us-gaap Variable Interest Entity Activity Between Vie And Entity Expense
VariableInterestEntityActivityBetweenVIEAndEntityExpense
286000
CY2016Q2 us-gaap Long Term Debt
LongTermDebt
25027000
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
24930000
CY2016Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
25027000
CY2015Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
24930000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
197000
rkda Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
2
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3427509
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
750000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
176054
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
233162
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3768293
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
2848655
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.76
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.36
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.21
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.39
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M13D
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.72
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.72
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.35
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.28
rkda Class Of Warrant Or Right Exercisable Term
ClassOfWarrantOrRightExercisableTerm
P5Y
CY2016Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2016Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.002
CY2015Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.032
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.002
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.032
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5105187
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5431601

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