Arcadia Biosciences Inc (RKDA) Q3 2024 Earnings Call Highlights: Revenue Growth and Strategic ...

GuruFocus.com11-13

Total Revenue: $1.5 million, an 18% increase year-over-year. Zola Coconut Water Sales: Increased 55% compared to Q3 of last year, representing about 86% of total revenues. SG&A Expenses: Approximately...

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GuruFocus has detected 6 Warning Signs with RKDA.\n\nRelease Date: November 12, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nArcadia Biosciences Inc (NASDAQ:RKDA) reported an 18% year-over-year increase in total revenues for Q3 2024.\nZola coconut water sales surged by 55% compared to the same period last year, contributing significantly to revenue growth.\nThe company achieved the lowest level of cash usage in a quarter since going public, indicating improved financial management.\nZola's retail store count increased by 68% year-over-year, marking the largest quarterly distribution gain in the company's history.\nZola outpaced the coconut water category growth, with a 73% increase in the latest four-week period compared to the industry's 28% growth.\n\n Negative Points \n\nSelling, general, and administrative expenses increased by $380,000 due to severance and transition-related fees.\nSales of GLA oil continued to decline, with Q3 sales being about half of what they were in the same period last year.\nThe company experienced a $150,000 write-down related to hemp and GoodWheat seed.\nThere is uncertainty in forecasting due to the timing of initial shipments and the size of new distribution gains.\nThe company did not provide forward-looking guidance, citing challenges in forecast accuracy due to recent distribution changes.\n\n Q & A Highlights \nQ: Can you clarify the $150,000 write-down mentioned in the financial results? Was it entirely within this quarter and associated with the legacy hemp business? A: Yes, the $150,000 write-down was entirely in this quarter and related to both hemp and GoodWheat seed. - Mark Kawakami, CFO\nQ: What are your expectations for margins going forward, excluding the write-down and the GLA business? A: Excluding those items, margins are around 33%. Historically, we've communicated a long-term outlook for Zola margins in the low to mid-30s, and we're currently in the middle of that range. - Thomas Schaefer, CEO\nQ: Do you expect any more one-time operational expenses in the fourth quarter? A: Most severance and related issues are behind us, so we expect any further expenses related to those transactions to be minimal. - Thomas Schaefer, CEO\nQ: With the rapid growth in Zola's distribution, how confident are you in Arcadia's infrastructure to support this growth? A: We are comfortable with our infrastructure. Zola is manufactured in Thailand, and we receive finished goods at the port, making it an asset-light business model. We are managing inventory carefully, especially as lead times have increased, and we plan to rebuild safety stock during the softer season. - Thomas Schaefer, CEO\nQ: Can you provide guidance on future financial performance given the recent distribution gains? A: We are not providing forward-looking guidance due to the challenges in forecasting initial sell-in versus ongoing reorder patterns. However, we are optimistic about our growth trajectory. - Thomas Schaefer, CEO\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483237770"}