Arcadia Biosciences (RKDA) Tops Q1 EPS by 41c, Revenues Miss

Arcadia Biosciences (NASDAQ: RKDA) reported Q1 EPS of $0.11, $0.41 better than the analyst estimate of ($0.30). Revenue for the quarter came in at $828 thousand versus the consensus estimate of $850 thousand.

"With our acquisition of select assets of Lief Holdings, LLC and Live Zola, LLC announced today, we added to our business a well-established portfolio of best-in-class CBD-infused and wellness products generating $6 million in recurring annual revenues with strong growth potential, and we gained access to a national distribution network offering retail sales synergies with our GoodWheat™ and GLA consumer products," said Matt Plavan, CEO of Arcadia. "In line with our stated strategy to increase our verticalization and maximize control over our supply chain to ensure quality from seed to sale and to participate more fully in the value of the brands for our proprietary innovations, the Lief manufacturing capability and distribution into over 5,000 retail doors delivers resoundingly on that strategy."

For earnings history and earnings-related data on Arcadia Biosciences (RKDA) click here.

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