Yahoo Finance Arcadia Biosciences Full Year 2023 Earnings: Misses Expectations
Arcadia Biosciences (NASDAQ:RKDA) Full Year 2023 Results
Key Financial Results
Revenue: US$5.33m (down 28% from FY 2022).
Net loss: US$13.2m (loss widened by 24% from FY 2022).
US$10.64 loss per share.
All figures shown in the chart above are for the trailing 12 month (TTM) period
Arcadia Biosciences Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 16%.
The primary driver behind last 12 months revenue was the United States segment contributing a total revenue of US$5.03m (94% of total revenue). Notably, cost of sales worth US$4.24m amounted to 80% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$14.5m (100% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$261.0k. Explore how RKDA's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 2.7% growth forecast for the Food industry in the US.
Performance of the American Food industry.
The company's shares are down 3.9% from a week ago.
Risk Analysis
It is worth noting though that we have found 4 warning signs for Arcadia Biosciences (3 don't sit too well with us!) that you need to take into consideration.
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