RKDA · Arcadia Biosciences, Inc.

Arcadia Biosciences reported first-quarter 2026 results showing resilience in core operations amid one-time losses. Total revenues of $1.1 million declined 8% from $1.2 million in Q1 2025, primarily due to a $193,000 revenue reserve release in the prior year offsetting Zola coconut water's 18% volume growth and a price increase. CEO T.J. Schaefer highlighted Zola's double-digit growth and record-low SG&A expenses, down $559,000 year-over-year from reduced M&A fees and employee costs. Cost of revenues rose modestly 3% with higher volumes driving product and freight costs. Operating expenses jumped to $1.9 million from $670,000 due to the absence of Q1 2025's $750,000 patent sale gain and $1.0 million contingent consideration gain. The quarter's $4.4 million net loss, or $2.11 per share, swung from $2.6 million profit mainly from a $2.9 million warrant inducement loss and $1.5 million other loss. Balance sheet reflects $2.1 million gross proceeds from preferred option exercises via the January 2026 inducement offer, boosting cash to $954,000 from $259,000 year-end, though operating cash burn was $1.1 million. Management is evaluating strategic alternatives while prioritizing Zola expansion and a new product launch this fall, amid forward-looking risks including funding needs noted in SEC filings.