Arcadia Biosciences Inc

For the period ended Dec 31, 2023. Filed Mar 28, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 28, 2024

RKDA$0.17-0.5%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statem ents of Cash Flows

(In thousands)

	Year Ended December 31,
	2023	2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$(13,986)	$(15,612)
Adjustments to reconcile net loss to cash used in operating activities:
Change in fair value of common stock warrant and option liabilities	(6,544)	(3,209)
Change in fair value of contingent consideration	—	(70)
Issuance and offering costs allocated to liability classified options	430	314
Valuation loss on March 2023 PIPE	6,076	—
Depreciation	287	439
Amortization of intangible assets	—	40
Lease amortization	697	884
Impairment of intangible assets	—	404
Gain on disposal of equipment	(40)	(314)
Stock-based compensation	717	1,106
Bad debt expense	20	60
Gain on sale of Verdeca	—	(1,138)
Write-down of inventories	444	2,471
Impairment of property and equipment	—	530
Impairment of ROU asset	113	—
Changes in operating assets and liabilities:
Accounts receivable and other receivables	184	592
Inventories	(2,419)	1,118
Prepaid expenses and other current assets	1	91
Other noncurrent assets	2	16
Accounts payable and accrued expenses	(522)	(757)
Amounts due to related parties	10	(16)
Other current liabilities	—	6
Operating lease payments	(764)	(932)
Net cash used in operating activities	(15,294)	(13,977)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of property and equipment	115	920
Proceeds from sale of Verdeca — earn-out received	569	569
Proceeds from sale of investments	2,502	—
Purchases of property and equipment	(5)	(72)
Purchases of investments	(7,525)	—
Net cash (used in) provided by investing activities	(4,344)	1,417
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, pre-funded warrants and preferred investment options from March 2023 PIPE	5,997	—
Payments of offering costs relating to March 2023 PIPE	(497)	—
Proceeds from issuance of common stock, pre-funded warrants and preferred investment options from August 2022 Offering	—	5,000
Payments of offering costs relating to August 2022 Offering	—	(488)
Proceeds from ESPP purchases	12	7
Net cash provided by financing activities	5,512	4,519
Net decrease in cash and cash equivalents	(14,126)	(8,041)
Cash and cash equivalents — beginning of period	20,644	28,685
Cash and cash equivalents — end of period	$6,518	$20,644
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	$—	$1
NONCASH TRANSACTIONS:
Common stock warrant liabilities reclassified to equity upon adoption of ASU 2020-06	$—	$3,392
Common stock options issued to placement agent and included in offering costs related to August 2022 RDO securities purchase agreement	$—	$191
Common stock options issued to placement agent and included in offering costs related to March 2023 PIPE	$212	$—
Right of use assets obtained in exchange for new operating lease liabilities	$—	$114
Proceeds from sale of property and equipment in accounts receivable and other receivables	$8	$19
Proceeds from sale of Verdeca in accounts receivable and other receivables	$—	$569
Warrant and option modifications included in Valuation loss on March 2023 PIPE	$404	$—

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