Arcadia Biosciences, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 04:53 pm EST
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Arcadia Biosciences, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 1.88 million compared to USD 2.38 million a year ago. Net loss was USD 2.87 million compared to USD 2.18 million a year ago. Basic loss per share from continuing operations was USD 4.8 compared to USD 4 a year ago. Diluted loss per share from continuing operations was USD 4.8 compared to USD 4 a year ago.
For the nine months, revenue was USD 8.96 million compared to USD 4.61 million a year ago. Net loss was USD 11.13 million compared to USD 5.38 million a year ago. Basic loss per share from continuing operations was USD 19.2 compared to USD 10.4 a year ago. Diluted loss per share from continuing operations was USD 19.2 compared to USD 10.4 a year ago.
Arcadia Biosciences, Inc. is a producer and marketer of plant-based health and wellness products. The Companyâs product portfolio includes Zola Coconut Water (Zola). Zola is a natural, 100% coconut water. Zola is a non-genetically modified organisms (Non-GMO) project verified and only contains 60 calories per serving. It offers Zola in different varieties, such as Original, Slightly Sweetened; Original with Pulp, Slightly Sweetened; Espresso, Slightly Sweetened; Pineapple; Lime; and others. The recipe with Zola includes smoothies, desserts, cocktails and mocktails, and bowls.