Arcadia Biosciences, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 16, 2023 at 01:39 am IST
Share
Arcadia Biosciences, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported revenue was USD 1.51 million compared to USD 3.22 million a year ago. Net loss was USD 9.38 million compared to USD 4.49 million a year ago.
Basic loss per share from continuing operations was USD 10.86 compared to USD 8.09 a year ago. Diluted loss per share from continuing operations was USD 10.86 compared to USD 8.09 a year ago.
Arcadia Biosciences, Inc. is a producer and marketer of plant-based food and beverage products. The Company is engaged in developing crop improvements, primarily in wheat, designed to enhance farm economics by improving the performance of crops in the field, as well as their value as food ingredients. The Company is using non-genetically modified (non-GMO) advanced breeding techniques to develop products. Its product portfolio includes GoodWheat Pasta, GoodWheat Pancakes and Waffle Mixes, GoodWheat Mac and Cheese, Zola Coconut Water, and GoodWheat Wheat Traits. Its GoodWheat pasta has five varieties of penne, spaghetti, fettuccine, elbows, and rotini. Its GoodWheat pancake and waffle mixes are sold in resealable, multi-serve pouches, and mixes are available in three varieties, including buttermilk, chocolate chip and apple cinnamon. It operates under Saavy Naturals, Soul Spring, and ProVault brands. ProVault, is a THC-free CBD sports performance formula made with natural ingredients.