$RKDA
Arcadia Biosciences, Inc.

2019 Q2 Form 10-Q Financial Statement

#000156459019032192 Filed on August 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2017 Q4
Revenue $203.0K $436.0K $1.430M
YoY Change -53.44% -56.0% 164.81%
Cost Of Revenue $90.00K $270.0K $20.00K
YoY Change -66.67% 125.0% -96.92%
Gross Profit $110.0K $170.0K $1.410M
YoY Change -35.29% -80.68% -1381.82%
Gross Profit Margin 54.19% 38.99% 98.6%
Selling, General & Admin $3.145M $2.949M $2.240M
YoY Change 6.65% 0.2% -33.53%
% of Gross Profit 2859.09% 1734.71% 158.87%
Research & Development $1.950M $1.794M $2.170M
YoY Change 8.7% 7.43% 9.05%
% of Gross Profit 1772.73% 1055.29% 153.9%
Depreciation & Amortization $50.00K $50.00K $60.00K
YoY Change 0.0% -28.57% -14.29%
% of Gross Profit 45.45% 29.41% 4.26%
Operating Expenses $5.184M $5.014M $4.410M
YoY Change 3.39% 6.05% -17.72%
Operating Profit -$4.981M -$4.578M -$3.000M
YoY Change 8.8% 22.5% -45.16%
Interest Expense $9.480M $0.00 $0.00
YoY Change -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net $101.0K $94.00K $40.00K
YoY Change 7.45% -9.62% -60.0%
Pretax Income $4.240M -$6.658M -$2.970M
YoY Change -163.68% 66.53% -47.99%
Income Tax -$1.000K $11.00K -$10.00K
% Of Pretax Income -0.02%
Net Earnings $4.237M -$6.669M -$2.960M
YoY Change -163.53% 66.31% -48.16%
Net Earnings / Revenue 2087.19% -1529.59% -206.99%
Basic Earnings Per Share $0.84
Diluted Earnings Per Share $0.84 -$2.015M -$1.390M
COMMON SHARES
Basic Shares Outstanding 5.055M
Diluted Shares Outstanding 5.055M

Balance Sheet

Concept 2019 Q2 2018 Q2 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.03M $28.60M $13.02M
YoY Change -29.97% -35.26% -74.25%
Cash & Equivalents $14.65M $9.667M $9.125M
Short-Term Investments $5.380M $18.93M $3.900M
Other Short-Term Assets $1.010M $800.0K $560.0K
YoY Change 26.25% -45.95% -36.36%
Inventory $839.0K $280.0K $229.0K
Prepaid Expenses
Receivables $125.0K $290.0K $1.231M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.00M $29.97M $15.05M
YoY Change -26.59% -35.58% -71.19%
LONG-TERM ASSETS
Property, Plant & Equipment $639.0K $270.0K $299.0K
YoY Change 136.67% -35.71% -41.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $7.000K $900.0K $56.00K
YoY Change -99.22% -40.0% 194.74%
Total Long-Term Assets $3.346M $1.160M $1.523M
YoY Change 188.45% -39.27% -65.02%
TOTAL ASSETS
Total Short-Term Assets $22.00M $29.97M $15.05M
Total Long-Term Assets $3.346M $1.160M $1.523M
Total Assets $25.35M $31.13M $16.57M
YoY Change -18.58% -35.72% -70.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.00K $10.00K $30.00K
YoY Change 100.0% -66.67% 0.0%
Accrued Expenses $590.0K
YoY Change
Deferred Revenue $15.00K $1.000M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $4.157M $2.920M $3.525M
YoY Change 42.36% -56.35% 12.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $3.000M $20.08M $3.000M
YoY Change -85.06% 239.19% 0.0%
Total Long-Term Liabilities $3.000M $20.08M $3.000M
YoY Change -85.06% -25.57% -89.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.157M $2.920M $3.525M
Total Long-Term Liabilities $3.000M $20.08M $3.000M
Total Liabilities $17.06M $23.00M $8.563M
YoY Change -25.83% -31.69% -75.09%
SHAREHOLDERS EQUITY
Retained Earnings -$186.7M -$167.3M
YoY Change 10.36%
Common Stock $195.0M $175.3M
YoY Change 0.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.286M $8.130M $8.007M
YoY Change
Total Liabilities & Shareholders Equity $25.35M $31.13M $16.57M
YoY Change -18.58% -35.72% -70.71%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2017 Q4
OPERATING ACTIVITIES
Net Income $4.237M -$6.669M -$2.960M
YoY Change -163.53% 66.31% -48.16%
Depreciation, Depletion And Amortization $50.00K $50.00K $60.00K
YoY Change 0.0% -28.57% -14.29%
Cash From Operating Activities -$4.460M -$4.300M -$2.690M
YoY Change 3.72% -2.05% -37.15%
INVESTING ACTIVITIES
Capital Expenditures -$230.0K -$40.00K $0.00
YoY Change 475.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $2.020M -$18.91M $8.880M
YoY Change -110.68% -284.31% -311.93%
Cash From Investing Activities $1.790M -$18.95M $8.880M
YoY Change -109.45% -284.52% -311.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.880M 12.50M 0.000
YoY Change -44.96% -100.0%
NET CHANGE
Cash From Operating Activities -4.460M -4.300M -2.690M
Cash From Investing Activities 1.790M -18.95M 8.880M
Cash From Financing Activities 6.880M 12.50M 0.000
Net Change In Cash 4.210M -10.75M 6.190M
YoY Change -139.16% -282.82% -173.17%
FREE CASH FLOW
Cash From Operating Activities -$4.460M -$4.300M -$2.690M
Capital Expenditures -$230.0K -$40.00K $0.00
Free Cash Flow -$4.230M -$4.260M -$2.690M
YoY Change -0.7% -2.96% -37.0%

Facts In Submission

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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
1:20
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13600000
CY2019Q2 rkda Inventory Raw Materials Current And Non Current
InventoryRawMaterialsCurrentAndNonCurrent
41000
CY2018Q4 rkda Inventory Raw Materials Current And Non Current
InventoryRawMaterialsCurrentAndNonCurrent
41000
CY2019Q2 rkda Inventory Goods In Process Current And Non Current
InventoryGoodsInProcessCurrentAndNonCurrent
637000
CY2019Q2 rkda Inventory Finished Goods Current And Non Current
InventoryFinishedGoodsCurrentAndNonCurrent
810000
CY2018Q4 rkda Inventory Finished Goods Current And Non Current
InventoryFinishedGoodsCurrentAndNonCurrent
886000
CY2019Q2 rkda Inventory Current And Non Current Net
InventoryCurrentAndNonCurrentNet
1488000
CY2018Q4 rkda Inventory Current And Non Current Net
InventoryCurrentAndNonCurrentNet
927000
CY2019Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
19401000
CY2019Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2019Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0
CY2019Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
19401000
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
21072000
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
21072000
CY2019Q2 rkda Available For Sale Securities Continuous Unrealized Loss Position For More Than Three Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionForMoreThanThreeMonthsAccumulatedLoss
0
CY2019Q2 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
0
CY2018Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
0
CY2019Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
0
CY2019Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
19401000
CY2018Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
21072000
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
Some leases (the warehouse, greenhouse and a copy machine) include one or more options to renew, with renewal terms that can extend the lease term from one to six years.
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2193000
CY2019Q2 rkda Operating Lease Assets
OperatingLeaseAssets
2051000
CY2019Q1 rkda Operating Lease Assets
OperatingLeaseAssets
2193000
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
574000
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1771000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2203000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2345000
us-gaap Lease Cost
LeaseCost
418000
CY2019Q2 us-gaap Lease Cost
LeaseCost
210000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M24D
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M6D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07
CY2019Q2 us-gaap Share Price
SharePrice
32.52
CY2019Q2 us-gaap Common Stock No Par Value
CommonStockNoParValue
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
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
10000000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
50000000
CY2019Q2 rkda Fair Value Of Common Stock Warrants At Inception
FairValueOfCommonStockWarrantsAtInception
9000000
CY2019Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
226000
rkda Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
2
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
530044
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
184071
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1350
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
2047
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
710718
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
698356
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
298208
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
35.53
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.15
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.45
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
58.41
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
27.62
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
27.91
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
50.10
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1400000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
44910
CY2019Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4469040
CY2019Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
8.48
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.002
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001
CY2019Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5179758
CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3109946
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5179758
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3109946

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