Arcadia Biosciences needs funding; cash at $2.84M
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Arcadia Biosciences (RKDA) reported third-quarter 2026 revenue of $1.619 million, up 24% from $1.302 million a year earlier; Zola revenue also rose 24%, reaching its highest quarterly sales. The company said summer programs drove the increase and led to new distribution opportunities for 2027, including in Texas. Zola Espresso in a 1-liter resealable carton was scheduled to begin shipping in November 2026; Zola Original, Original with Pulp and Espresso in 10.5-ounce slim cans are expected in the first half of 2027.
Net income attributable to common stockholders was $1.755 million, versus $856,000, primarily reflecting a $2.6 million gain from a change in the estimated fair value of warrant and option liabilities. For the first nine months, revenue was $4.162 million, up 5%, while net loss attributable to common stockholders widened to $8.896 million from $1.003 million. Cash and cash equivalents were $2.844 million at September 30, 2026. Arcadia said it will require additional funding to continue operations and planned activities and that funding availability in sufficient amounts or on reasonable terms is not assured.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Major pointQ3 net income was $1.755 million, with a $2.6 million fair-value gain. 4.5× market cap
- Moderate pointThird-quarter revenue increased 24% to $1.619 million.
- Moderate pointNine-month revenue increased 5% to $4.162 million.
Negative
- Major pointNine-month net loss widened to $8.896 million from $1.003 million.
Filing Explained
Arcadia’s third-quarter report shows common shares issued and outstanding rose from 1,373,120 at
8-K Event Classification
Key Figures
Key Terms
common stock warrant and option liabilities financial
PIPE financial
Inducement Offer financial
unrealized loss financial
Earnings Snapshot
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was RKDA’s revenue in the third quarter of 2026?
Why did RKDA report net income in the third quarter of 2026?
What was RKDA’s net loss for the first nine months of 2026?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
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(IRS Employer |
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(Address of Principal Executive Offices) |
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Registrant’s Telephone Number, Including Area Code: |
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 12, 2026 Arcadia Biosciences, Inc. (the “Company”) issued a press release announcing financial results for the third quarter of 2026. A copy of the press release is furnished as Exhibit 99.1, and the Company's financial information tables are furnished as Exhibit 99.2, to this Current Report on Form 8-K and are incorporated herein by reference.
The information furnished in this Form 8-K, the press release attached as Exhibit 99.1, and the financial information attached as Exhibit 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02, in the press release attached as Exhibit 99.1, and in the financial information attached as Exhibit 99.2, shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
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99.1 |
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Arcadia Biosciences Announces Third-Quarter 2026 Financial Results and Business Highlights |
99.2 |
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Arcadia Biosciences Third-Quarter 2026 Financial Information |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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ARCADIA BIOSCIENCES, INC. |
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Date: |
November 12, 2026 |
By: |
/s/ THOMAS J. SCHAEFER |
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Thomas J. Schaefer, Chief Executive Officer |
Exhibit 99.1
Arcadia Biosciences (RKDA) Announces Third Quarter 2026 Financial Results and Business Highlights
-- Zola® Q3 revenues increase 24% year-over-year, largest quarterly sales ever --
-- New 1L espresso formulation ships this month, slim cans to launch in early 2027 --
DALLAS, Texas (November 12, 2026) – Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a producer and marketer of innovative wellness products, today released its financial and business results for the third quarter of 2026.
“The third quarter was very strong for Zola® with revenues growing 24% compared to the same quarter last year, resulting in the highest quarterly sales the brand has ever reported,” said T.J. Schaefer, CEO of Arcadia. “Our summer programs drove significant revenue growth and have led to new distribution opportunities in 2027 in new regions such as Texas.”
Schaefer continued, “We are extremely excited to begin shipping our newly formulated espresso flavor this month after receiving pre-launch commitments from several of our leading customers. Available in a 1-liter resealable carton and containing just over 100 milligrams of caffeine, Zola Espresso is the perfect way to jump-start your morning.
“In addition, we are happy to announce that our Zola Original, Original with Pulp, and Espresso varieties will be available in a 10.5-ounce slim can in the first half of next year,” Schaefer added.
1
Arcadia Biosciences, Inc.
Financial Snapshot
(Unaudited)
($ in thousands)
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
2025 |
Favorable/ |
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2026 |
2025 |
Favorable/ |
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$ |
% |
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$ |
% |
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Total revenues |
1,619 |
1,302 |
317 |
24% |
|
4,162 |
3,957 |
205 |
5% |
|
Total operating expenses |
2,458 |
2,454 |
(4) |
(0%) |
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6,276 |
5,082 |
(1,194) |
(23%) |
|
Loss from continuing operations |
(839) |
(1,152) |
313 |
27% |
|
(2,114) |
(1,125) |
(989) |
(88%) |
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Net income (loss) attributable to common stockholders |
1,755 |
856 |
899 |
105% |
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(8,896) |
(1,003) |
(7,893) |
(787%) |
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More detailed financial information is included in the company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC), available in the Investors section of the company’s website under SEC Filings.
Revenues
Total revenues increased $317,000, or 24%, during the third quarter of 2026 compared to the same period in 2025, driven by strong volumes from summer programs.
Revenues increased $205,000, or 5%, during the first nine months of 2026 compared to the same period in 2025, as strong volumes in the third quarter of 2026 more than offset slower growth in the first half of 2026 due to inventory delays.
Operating Expenses
Cost of revenues decreased by $124,000 and $117,000 during the third quarter and first nine months of 2026, respectively, compared to the same periods in 2025, despite a year-over-year increase in sales, due to a tariff refund of approximately $175,000 in July 2026.
Selling, general, and administrative (SG&A) expenses increased by $128,000, or 8%, during the third quarter of 2026 compared to the same period in 2025, driven by expenses associated with the timing of our 2026 annual meeting of stockholders, which was held in the third quarter of 2026, compared to the 2025 annual meeting of stockholders which was held in the fourth quarter of 2025.
SG&A expenses decreased by $1.4 million during the first nine months of 2026 compared to the same period in 2025, driven by the absence of M&A expenses and lower employee costs in 2026.
2
Other operating income decreased by $2.7 million during the first nine months of 2026 compared to the same period in 2025. This was driven by a $2.8 million gain recognized in 2025 related to the agreement with Bioceres Crop Solutions Corp. to transfer rights related to reduced gluten and oxidative stability patents, as well as the agreement with Bioseed Research India to terminate the license agreement for certain intellectual property.
Net Income/ Loss Attributable to Common Stockholders
Net income attributable to common stockholders for the third quarter of 2026 was $1.8 million, or $0.29 per share, a $900,000 improvement from $856,000 net income, or $0.63 per share, for the third quarter of 2025. The improvement in net income attributable to common stockholders for the third quarter of 2026 compared to the same period in 2025 was primarily driven by a $2.6 million gain related to the change in the estimated fair value of common stock warrant and option liabilities.
Net loss attributable to common stockholders for the first nine months of 2026 was $8.9 million, or $2.39 per share, compared to a net loss of $1.0 million, or $0.73 per share, for the first nine months of 2025. The first nine months of 2026 included a $4.3 million unrealized loss related to Above Food stock held by the company, a $2.9 million loss on the company’s January 2026 inducement offer financing transaction, a $5.4 million valuation loss on the June 2026 PIPE transaction, and offering costs of $1.1 million, which were offset by a $6.8 million gain related to the change in fair value of common stock warrant and option liabilities. The first nine months of 2025 included a $4.7 million credit loss related to the note receivable from Above Food, which was offset by a $2.8 million gain related to the Above Food stock and a $1.9 million gain related to the change in fair value of common stock warrant and option liabilities.
About Arcadia Biosciences, Inc.
Since 2002, Arcadia Biosciences (Nasdaq: RKDA) has been innovating high-value, healthy ingredients to meet consumer demands for healthier choices. With its roots in agricultural innovation, Arcadia cultivates next-generation wellness products. For more information, visit www.arcadiabio.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future results of operations concerning the company and its products, including, but not limited to, statements relating to Zola products and sales, the company’s growth, cash position, operating costs, financial performance, and evaluation of possible strategic alternatives and transactions. Undue reliance should not be placed on any forward-looking statements. Forward-looking statements are only predictions and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from the results anticipated by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks set forth in filings that the company makes with the Securities and Exchange Commission from time to time, including in Arcadia’s Annual Report on Form 10-K for the year ended December 31, 2025 (the 2025 Form 10-K), and other filings that the company makes with the SEC. Forward-looking statements concerning anticipated future activities also assume that the company has sufficient funding to continue its operations and
3
planned activities, which may not be the case. As described in greater detail in the 2025 Form 10-K and in the company’s Quarterly Report on Form 10-Q for the period ended September 30, 2026, the company will require additional funding to continue its operations and planned activities. There are no assurances that required funding will be available at all or will be available in sufficient amounts or on reasonable terms. The company may seek to raise additional funds through equity or debt financings, through transactions involving its other assets, or through other transactions, and may seek strategic alternatives and transactions. Any sale of additional equity securities could result in material dilution to company stockholders. Reported results should not be considered as an indication of future performance. Forward-looking statements made in this press release speak only as of the date hereof, and except as required by law, Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements or to reflect events or circumstances arising after the date of this press release.
Arcadia Biosciences Contact:
T.J. Schaefer
ir@arcadiabio.com
###
4
Exhibit 99.2
Arcadia Biosciences, Inc.
Consolidated Balance Sheets
(Unaudited)
(In thousands, except share data)
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September 30, 2026 |
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December 31, 2025 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
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$ |
2,844 |
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$ |
259 |
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Short-term investments |
|
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— |
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4,304 |
|
Accounts receivable and other receivables, net of allowance for credit loss |
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625 |
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425 |
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Inventories |
|
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973 |
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1,212 |
|
Prepaid expenses and other current assets |
|
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120 |
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156 |
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Total current assets |
|
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4,562 |
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|
6,356 |
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Property and equipment, net |
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— |
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8 |
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Intangible assets, net |
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39 |
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39 |
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Other noncurrent assets |
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115 |
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143 |
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Total assets |
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$ |
4,716 |
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$ |
6,546 |
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Liabilities and stockholders’ equity |
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Current liabilities: |
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Accounts payable and accrued expenses |
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$ |
1,010 |
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$ |
1,789 |
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Other current liabilities |
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263 |
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270 |
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Total current liabilities |
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1,273 |
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2,059 |
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Common stock warrant and option liabilities |
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1,040 |
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347 |
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Total liabilities |
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2,313 |
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2,406 |
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Commitments and contingencies (Note 13) |
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Stockholders’ equity: |
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Common stock, $0.001 par value—150,000,000 shares authorized as |
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67 |
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65 |
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Additional paid-in capital |
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292,449 |
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285,292 |
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Accumulated deficit |
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(290,113 |
) |
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(281,217 |
) |
Total stockholders' equity |
|
|
2,403 |
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|
4,140 |
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Total liabilities and stockholders’ equity |
|
$ |
4,716 |
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$ |
6,546 |
|
1
Arcadia Biosciences, Inc.
Consolidated Statements of Operations and Comprehensive Income (Loss)
(Unaudited)
(In thousands, except share data and per share data)
|
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Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
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|
2026 |
|
|
|
2025 |
|
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|
2026 |
|
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|
2025 |
|
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Product |
|
$ |
1,619 |
|
|
$ |
1,302 |
|
|
$ |
4,162 |
|
|
$ |
3,957 |
|
Total revenues |
|
|
1,619 |
|
|
|
1,302 |
|
|
|
4,162 |
|
|
|
3,957 |
|
Operating expenses (income): |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cost of revenues |
|
|
760 |
|
|
|
884 |
|
|
|
2,272 |
|
|
|
2,389 |
|
Research and development |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9 |
|
Gain on sale of intangible assets |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(750 |
) |
Change in fair value of contingent consideration |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2,000 |
) |
Selling, general and administrative |
|
|
1,698 |
|
|
|
1,570 |
|
|
|
4,004 |
|
|
|
5,434 |
|
Total operating expenses |
|
|
2,458 |
|
|
|
2,454 |
|
|
|
6,276 |
|
|
|
5,082 |
|
Loss from continuing operations |
|
|
(839 |
) |
|
|
(1,152 |
) |
|
|
(2,114 |
) |
|
|
(1,125 |
) |
Interest income |
|
|
20 |
|
|
|
7 |
|
|
|
27 |
|
|
|
222 |
|
Credit loss |
|
|
— |
|
|
|
(257 |
) |
|
|
— |
|
|
|
(4,745 |
) |
Other income (loss), net |
|
|
— |
|
|
|
1,698 |
|
|
|
(4,285 |
) |
|
|
2,770 |
|
Loss on January 2026 Inducement Offer |
|
|
— |
|
|
|
— |
|
|
|
(2,877 |
) |
|
|
— |
|
Valuation loss on June 2026 PIPE |
|
|
— |
|
|
|
— |
|
|
|
(5,423 |
) |
|
|
— |
|
Change in fair value of common stock warrant and option liabilities |
|
|
2,574 |
|
|
|
560 |
|
|
|
6,848 |
|
|
|
1,875 |
|
Issuance and offering costs |
|
|
— |
|
|
|
— |
|
|
|
(1,072 |
) |
|
|
— |
|
Net income (loss) attributable to common stockholders |
|
$ |
1,755 |
|
|
$ |
856 |
|
|
$ |
(8,896 |
) |
|
$ |
(1,003 |
) |
Net income (loss) per share attributable to common stockholders: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
$ |
0.29 |
|
|
$ |
0.63 |
|
|
$ |
(2.39 |
) |
|
$ |
(0.73 |
) |
Diluted |
|
$ |
0.29 |
|
|
$ |
0.62 |
|
|
$ |
(2.39 |
) |
|
$ |
(0.73 |
) |
Weighted-average number of shares used in per share |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
|
6,065,211 |
|
|
|
1,367,192 |
|
|
|
3,728,138 |
|
|
|
1,366,768 |
|
Diluted |
|
|
6,065,211 |
|
|
|
1,371,879 |
|
|
|
3,728,138 |
|
|
|
1,366,768 |
|
2
Arcadia Biosciences, Inc.
Consolidated Statements of Cash Flows
(Unaudited)
(In thousands)
|
|
Nine Months Ended September 30, |
|
|||||
|
|
|
2026 |
|
|
|
2025 |
|
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
|
|
|
||
Net loss |
|
$ |
(8,896 |
) |
|
$ |
(1,003 |
) |
Adjustments to reconcile net loss to cash used in operating activities: |
|
|
|
|
|
|
||
Change in fair value of common stock warrant and option liabilities |
|
|
(6,848 |
) |
|
|
(1,875 |
) |
Change in fair value of contingent consideration |
|
|
— |
|
|
|
(2,000 |
) |
Issuance and offering costs |
|
|
1,072 |
|
|
|
— |
|
Valuation loss on June 2026 PIPE |
|
|
5,423 |
|
|
|
— |
|
Loss on January 2026 Inducement Offer |
|
|
2,877 |
|
|
|
— |
|
Depreciation |
|
|
8 |
|
|
|
30 |
|
Lease amortization |
|
|
— |
|
|
|
122 |
|
Amortization of note receivable |
|
|
— |
|
|
|
(69 |
) |
Gain on sale of intangible assets |
|
|
— |
|
|
|
(750 |
) |
Gain on receipt of Above Food Ingredients, Inc. common stock |
|
|
— |
|
|
|
(1,067 |
) |
Unrealized loss (gain) subsequent to receipt of Above Food Ingredients, Inc. common stock |
|
|
4,304 |
|
|
|
(1,698 |
) |
Stock-based compensation |
|
|
43 |
|
|
|
217 |
|
Credit loss |
|
|
— |
|
|
|
4,745 |
|
Changes in operating assets and liabilities: |
|
|
— |
|
|
|
— |
|
Accounts receivable and other receivables |
|
|
(200 |
) |
|
|
(241 |
) |
Inventories |
|
|
239 |
|
|
|
(552 |
) |
Prepaid expenses and other current assets |
|
|
36 |
|
|
|
717 |
|
Other noncurrent assets |
|
|
— |
|
|
|
(56 |
) |
Accounts payable and accrued expenses |
|
|
(748 |
) |
|
|
(172 |
) |
Amounts due to related parties |
|
|
— |
|
|
|
(30 |
) |
Other current liabilities |
|
|
(7 |
) |
|
|
(57 |
) |
Operating lease liabilities |
|
|
— |
|
|
|
(139 |
) |
Net cash used in operating activities |
|
|
(2,697 |
) |
|
|
(3,878 |
) |
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
|
|
|
||
Proceeds from sale of intangible assets |
|
|
— |
|
|
|
750 |
|
Net cash provided by investing activities |
|
|
— |
|
|
|
750 |
|
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
|
|
|
||
Proceeds from June 2026 PIPE |
|
|
4,000 |
|
|
|
— |
|
Payments of offering costs relating to June 2026 PIPE |
|
|
(450 |
) |
|
|
— |
|
Proceeds from January 2026 Inducement Offer |
|
|
2,082 |
|
|
|
— |
|
Payments of offering costs relating to January 2026 Inducement Offer |
|
|
(350 |
) |
|
|
— |
|
Proceeds from ESPP purchases |
|
|
— |
|
|
|
6 |
|
Net cash provided by financing activities |
|
|
5,282 |
|
|
|
6 |
|
Net increase (decrease) in cash and cash equivalents |
|
|
2,585 |
|
|
|
(3,122 |
) |
Cash and cash equivalents — beginning of period |
|
|
259 |
|
|
|
4,242 |
|
Cash and cash equivalents — end of period |
|
$ |
2,844 |
|
|
$ |
1,120 |
|
NONCASH INVESTING AND FINANCING ACTIVITIES: |
|
|
|
|
|
|
||
Preferred investment options issued to placement agent and included in offering costs related to June 2026 PIPE |
|
$ |
201 |
|
|
$ |
— |
|
Preferred investment options issued to placement agent and included in offering costs related to January 2026 Inducement Offer |
|
$ |
71 |
|
|
$ |
— |
|
Warrant and option modifications included in Loss on January 2026 Inducement Offer |
|
$ |
555 |
|
|
$ |
— |
|
Fair value of Above Food Ingredients, Inc. common stock received |
|
$ |
— |
|
|
$ |
3,067 |
|
# # #
3