$RKDA
Arcadia Biosciences, Inc.

2021 Q1 Form 10-Q Financial Statement

#000156459021028456 Filed on May 17, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $828.0K $309.0K
YoY Change 167.96% 95.57%
Cost Of Revenue $856.0K $70.00K
YoY Change 1122.86% 16.67%
Gross Profit -$28.00K $240.0K
YoY Change -111.67% 140.0%
Gross Profit Margin -3.38% 77.67%
Selling, General & Admin $4.069M $3.723M
YoY Change 9.29% 32.4%
% of Gross Profit 1551.25%
Research & Development $1.159M $2.244M
YoY Change -48.35% 49.1%
% of Gross Profit 935.0%
Depreciation & Amortization $236.0K $74.00K
YoY Change 218.92% 117.65%
% of Gross Profit 30.83%
Operating Expenses $6.154M $6.099M
YoY Change 0.9% 39.37%
Operating Profit -$5.326M -$5.790M
YoY Change -8.01% 37.27%
Interest Expense $9.000K $3.000K
YoY Change 200.0% -100.04%
% of Operating Profit
Other Income/Expense, Net $7.463M $72.00K
YoY Change 10265.28% -40.0%
Pretax Income $1.680M $2.440M
YoY Change -31.15% -119.38%
Income Tax $0.00 $17.00K
% Of Pretax Income 0.0% 0.7%
Net Earnings $2.058M $2.525M
YoY Change -18.5% -120.02%
Net Earnings / Revenue 248.55% 817.15%
Basic Earnings Per Share $0.11 $0.29
Diluted Earnings Per Share $0.11 $0.29
COMMON SHARES
Basic Shares Outstanding 18.97M 8.651M
Diluted Shares Outstanding 19.04M 8.675M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.94M $16.02M
YoY Change 224.22% -9.95%
Cash & Equivalents $32.85M $12.97M
Short-Term Investments $19.09M $3.050M
Other Short-Term Assets $900.0K $1.460M
YoY Change -38.36% 186.27%
Inventory $2.660M $5.970M
Prepaid Expenses
Receivables $1.110M $310.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $56.61M $23.76M
YoY Change 138.26% 27.98%
LONG-TERM ASSETS
Property, Plant & Equipment $9.120M $8.190M
YoY Change 11.36% 1680.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.310M $300.0K
YoY Change 1336.67% -58.9%
Total Long-Term Assets $14.19M $8.490M
YoY Change 67.14% 150.81%
TOTAL ASSETS
Total Short-Term Assets $56.61M $23.76M
Total Long-Term Assets $14.19M $8.490M
Total Assets $70.80M $32.25M
YoY Change 119.53% 46.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.00K $20.00K
YoY Change 50.0% 100.0%
Accrued Expenses $710.0K $530.0K
YoY Change 33.96% -7.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.140M $30.00K
YoY Change 3700.0%
Total Short-Term Liabilities $5.620M $5.808M
YoY Change -3.24% 95.56%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $130.0K
YoY Change -23.08%
Other Long-Term Liabilities $19.38M $14.09M
YoY Change 37.54% 369.67%
Total Long-Term Liabilities $19.48M $14.22M
YoY Change 36.99% 374.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.620M $5.808M
Total Long-Term Liabilities $19.48M $14.22M
Total Liabilities $26.30M $21.23M
YoY Change 23.88% -0.41%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $44.50M $11.02M
YoY Change
Total Liabilities & Shareholders Equity $70.80M $32.25M
YoY Change 119.55% 46.92%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $2.058M $2.525M
YoY Change -18.5% -120.02%
Depreciation, Depletion And Amortization $236.0K $74.00K
YoY Change 218.92% 117.65%
Cash From Operating Activities -$4.707M -$9.270M
YoY Change -49.22% 133.56%
INVESTING ACTIVITIES
Capital Expenditures $485.0K $778.0K
YoY Change -37.66% 784.09%
Acquisitions
YoY Change
Other Investing Activities $0.00 $13.91M
YoY Change -100.0% 454.18%
Cash From Investing Activities -$485.0K $13.13M
YoY Change -103.69% 442.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 22.00M 696.0K
YoY Change 3060.49% -5453.85%
NET CHANGE
Cash From Operating Activities -4.707M -9.270M
Cash From Investing Activities -485.0K 13.13M
Cash From Financing Activities 22.00M 696.0K
Net Change In Cash 16.81M 4.556M
YoY Change 268.85% -392.05%
FREE CASH FLOW
Cash From Operating Activities -$4.707M -$9.270M
Capital Expenditures $485.0K $778.0K
Free Cash Flow -$5.192M -$10.05M
YoY Change -48.33% 147.67%

Facts In Submission

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350000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
30000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
320000
CY2021Q1 rkda Indefinite Lived Intangible Assets Excluding Goodwill Gross
IndefiniteLivedIntangibleAssetsExcludingGoodwillGross
400000
CY2021Q1 rkda Indefinite Lived Intangible Assets Accumulated Amortization
IndefiniteLivedIntangibleAssetsAccumulatedAmortization
50000
CY2021Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
350000
CY2020Q4 rkda Indefinite Lived Intangible Assets Excluding Goodwill Gross
IndefiniteLivedIntangibleAssetsExcludingGoodwillGross
400000
CY2020Q4 rkda Indefinite Lived Intangible Assets Accumulated Amortization
IndefiniteLivedIntangibleAssetsAccumulatedAmortization
30000
CY2020Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
370000
CY2021Q1 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2021Q1 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
Some leases (the Davis office, warehouse, greenhouses 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.
CY2021Q1 rkda Operating Lease Assets
OperatingLeaseAssets
5636000
CY2020Q4 rkda Operating Lease Assets
OperatingLeaseAssets
5826000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
5933000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
6106000
CY2021Q1 us-gaap Lease Cost
LeaseCost
333000
CY2020Q1 us-gaap Lease Cost
LeaseCost
292000
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.063
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.060
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
5463620
CY2021Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
5864959
CY2021Q1 rkda Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
2
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
889759
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
566853
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
105342
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
11120
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1340150
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1304842
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
527259
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.46
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.03
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.66
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
226.32
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.72
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
8.83
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
16.68
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
240000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
7035000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1800000
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y4M24D
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1134000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
36000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
39000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
27000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1000
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
1237000
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0010
CY2021Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2058000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2525000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2058000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2525000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1345
CY2021Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
72712
CY2020Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
22052
CY2020Q2 rkda Number Of Lease Amendments
NumberOfLeaseAmendments
2
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
36000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
5000

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