Arcadia Biosciences (RKDA) Announces First Quarter 2023 Financial Results from Operations and Business Highlights - Seite 2

 

 

$

 

%

Total Revenues

1,509

 

 

3,220

 

 

(1,711

)

 

(53

%)

Total Operating Expenses

5,557

 

 

7,843

 

 

2,286

 

 

29

%

Loss From Operations

(4,048

)

 

(4,623

)

 

575

 

 

12

%

More detailed financial statements are included in the Form 8-K filed today, available in the Investors section of the company’s website under SEC Filings.

Revenues

In the first quarter of 2023, revenues were $1.5 million compared to revenues of $3.2 million during the same period in 2022. Revenues in the first quarter of 2022 included $1.8 million in sales of grain and body care products that are no longer part of the Arcadia product portfolio.

Operating Expenses

In the first quarter of 2023, operating expenses were $5.6 million compared to $7.8 million in the first quarter of 2022.

Cost of revenues was $825,000 in the first quarter of 2023 compared to $3.5 million during the same period in 2022, resulting in an improvement of $922,000 in gross profit. Cost of revenues in the first quarter of 2022 included grain sold at cost, low-margin body care product sales and higher inventory write-downs.