$RKDA
Arcadia Biosciences, Inc.

2018 Q1 Form 10-Q Financial Statement

#000156459018012544 Filed on May 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2017 Q1
Revenue $214.0K $1.430M $1.018M
YoY Change -78.98% 164.81% 19.48%
Cost Of Revenue $36.00K $20.00K $106.0K
YoY Change -66.04% -96.92% -27.89%
Gross Profit $178.0K $1.410M $912.0K
YoY Change -80.48% -1381.82% 29.36%
Gross Profit Margin 83.18% 98.6% 89.59%
Selling, General & Admin $2.621M $2.240M $3.052M
YoY Change -14.12% -33.53% -11.18%
% of Gross Profit 1472.47% 158.87% 334.65%
Research & Development $1.396M $2.170M $1.823M
YoY Change -23.42% 9.05% -17.21%
% of Gross Profit 784.27% 153.9% 199.89%
Depreciation & Amortization $50.00K $60.00K $80.00K
YoY Change -37.5% -14.29% 14.29%
% of Gross Profit 28.09% 4.26% 8.77%
Operating Expenses $4.053M $4.410M $4.981M
YoY Change -18.63% -17.72% -13.9%
Operating Profit -$3.839M -$3.000M -$3.963M
YoY Change -3.13% -45.16% -19.66%
Interest Expense -$1.900M $0.00 $339.0K
YoY Change -660.47% -100.0% 3.67%
% of Operating Profit
Other Income/Expense, Net $38.00K $40.00K $96.00K
YoY Change -60.42% -60.0% 26.32%
Pretax Income -$10.61M -$2.970M -$4.206M
YoY Change 152.14% -47.99% -18.87%
Income Tax $10.00K -$10.00K $10.00K
% Of Pretax Income
Net Earnings -$10.62M -$2.960M -$4.216M
YoY Change 151.78% -48.16% -18.77%
Net Earnings / Revenue -4960.28% -206.99% -414.15%
Basic Earnings Per Share
Diluted Earnings Per Share -$4.849M -$1.390M -$1.901M
COMMON SHARES
Basic Shares Outstanding 44.51M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q4 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.42M $13.02M $48.53M
YoY Change -57.92% -74.25% -3.31%
Cash & Equivalents $20.42M $9.125M $7.559M
Short-Term Investments $0.00 $3.900M $40.97M
Other Short-Term Assets $420.0K $560.0K $1.280M
YoY Change -67.19% -36.36% -3.76%
Inventory $310.0K $229.0K $240.0K
Prepaid Expenses
Receivables $100.0K $1.231M $400.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $21.25M $15.05M $50.44M
YoY Change -57.87% -71.19% -4.0%
LONG-TERM ASSETS
Property, Plant & Equipment $280.0K $299.0K $490.0K
YoY Change -42.86% -41.37% -25.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $7.000K $56.00K $1.720M
YoY Change -99.59% 194.74% -14.43%
Total Long-Term Assets $1.349M $1.523M $2.210M
YoY Change -38.96% -65.02% -87.42%
TOTAL ASSETS
Total Short-Term Assets $21.25M $15.05M $50.44M
Total Long-Term Assets $1.349M $1.523M $2.210M
Total Assets $22.60M $16.57M $52.65M
YoY Change -57.08% -70.71% -24.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $30.00K $20.00K
YoY Change -100.0% 0.0% 100.0%
Accrued Expenses
YoY Change
Deferred Revenue $1.000M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $2.083M
YoY Change -100.0%
Total Short-Term Liabilities $3.032M $3.525M $5.170M
YoY Change -41.35% 12.62% 24.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $23.09M
YoY Change -100.0% -100.0% -7.55%
Other Long-Term Liabilities $3.000M $3.000M $6.010M
YoY Change -50.08% 0.0% 9.47%
Total Long-Term Liabilities $3.000M $3.000M $23.09M
YoY Change -87.01% -89.33% -7.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.032M $3.525M $5.170M
Total Long-Term Liabilities $3.000M $3.000M $23.09M
Total Liabilities $21.93M $8.563M $34.28M
YoY Change -36.02% -75.09% -1.01%
SHAREHOLDERS EQUITY
Retained Earnings -$175.5M -$167.3M
YoY Change 10.36%
Common Stock $176.2M $175.3M
YoY Change 0.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $667.0K $8.007M $18.37M
YoY Change
Total Liabilities & Shareholders Equity $22.60M $16.57M $52.65M
YoY Change -57.08% -70.71% -24.9%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2017 Q1
OPERATING ACTIVITIES
Net Income -$10.62M -$2.960M -$4.216M
YoY Change 151.78% -48.16% -18.77%
Depreciation, Depletion And Amortization $50.00K $60.00K $80.00K
YoY Change -37.5% -14.29% 14.29%
Cash From Operating Activities -$2.617M -$2.690M -$4.530M
YoY Change -42.23% -37.15% -6.79%
INVESTING ACTIVITIES
Capital Expenditures $33.00K $0.00 $57.00K
YoY Change -42.11% -100.0% -58.39%
Acquisitions
YoY Change
Other Investing Activities $3.910M $8.880M $10.12M
YoY Change -61.36% -311.93% -3.34%
Cash From Investing Activities $3.876M $8.880M $10.06M
YoY Change -61.47% -311.43% -2.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.03M 0.000 20.00K
YoY Change 50070.0% -100.0% -77.78%
NET CHANGE
Cash From Operating Activities -2.617M -2.690M -4.530M
Cash From Investing Activities 3.876M 8.880M 10.06M
Cash From Financing Activities 10.03M 0.000 20.00K
Net Change In Cash 11.29M 6.190M 5.550M
YoY Change 103.48% -173.17% -0.18%
FREE CASH FLOW
Cash From Operating Activities -$2.617M -$2.690M -$4.530M
Capital Expenditures $33.00K $0.00 $57.00K
Free Cash Flow -$2.650M -$2.690M -$4.587M
YoY Change -42.23% -37.0% -8.2%

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VariableInterestEntityTermsOfArrangements
Both the Company and Bioceres incur expenses in support of specific activities, as agreed upon 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.
CY2018Q1 us-gaap Variable Interest Entity Activity Between Vie And Entity Expense
VariableInterestEntityActivityBetweenVIEAndEntityExpense
286000
CY2017Q1 us-gaap Variable Interest Entity Activity Between Vie And Entity Expense
VariableInterestEntityActivityBetweenVIEAndEntityExpense
92000
CY2018Q1 us-gaap Long Term Debt
LongTermDebt
0
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
0
CY2018Q1 rkda Period Of Trading Days Taken For Calculation Of Volume Weighted Average Price
PeriodOfTradingDaysTakenForCalculationOfVolumeWeightedAveragePrice
P3D
CY2018Q1 rkda Percentage Of Volume Weighted Average Price Of Common Stock
PercentageOfVolumeWeightedAveragePriceOfCommonStock
0.80
CY2018Q1 rkda Percentage Of Volume Weighted Average Price Of Warrant
PercentageOfVolumeWeightedAveragePriceOfWarrant
1.10
CY2018Q1 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
8700000
CY2018Q1 rkda Proceeds From Issuance Of Private Placement Gross
ProceedsFromIssuanceOfPrivatePlacementGross
10000000
CY2018Q1 us-gaap Deferred Offering Costs
DeferredOfferingCosts
1300000
CY2018Q1 us-gaap Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
1.00
CY2018Q1 us-gaap Share Price
SharePrice
32.52
CY2018Q1 us-gaap Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
0.0263
CY2018Q1 us-gaap Common Stock No Par Value
CommonStockNoParValue
CY2018Q1 us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
4000000
CY2018Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
15900000
CY2018Q1 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-1900000
CY2018Q1 rkda Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
2
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
288129
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
10000
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
44354
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1221
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
252554
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
246625
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
104210
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
63.62
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
45.69
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
21.73
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
67.44
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
70.35
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
70.96
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
106.20
CY2018Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1200000
CY2018Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y11M23D
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2013Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
330.40
CY2018Q1 rkda Class Of Warrant Or Right Exercisable Term
ClassOfWarrantOrRightExercisableTerm
P5Y
CY2018Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.002
CY2017Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.002
CY2018Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
635199
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
285860

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