The company's financial position is increasingly precarious, with total assets shrinking from $19.7 million in 2023Q4 to $5.3 million in 2026Q1, reflecting significant balance sheet erosion.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Total Current Assets | 5.17M | 6.36M | 9.24M | 14.97M | 25.4M | 35.39M | 31.7M | 28.44M | 22.88M | 15.05M | 52.22M | 52.02M | 18.7M | 4.57M | 7.88M |
| Cash & Short-Term Investments | 3.72M | 4.56M | 4.24M | 11.64M | 20.64M | 28.68M | 25.67M | 25.33M | 21.82M | 13.02M | 50.56M | 50.24M | 16.57M | 2.83M | 5.35M |
| Cash Only | 954K | 259K | 4.24M | 6.52M | 20.64M | 28.68M | 14.04M | 8.42M | 12M | 9.13M | 2.01M | 23.97M | 16.57M | 2.83M | 5.35M |
| Short-Term Investments | 2.77M | 4.3M | 0 | 5.12M | 0 | 0 | 11.63M | 16.91M | 9.82M | 3.9M | 48.55M | 26.27M | 0 | 0 | 0 |
| Accounts Receivable | 425K | 425K | 1.18M | 514K | 1.22M | 1.37M | 1.41M | 602K | 168K | 1.24M | 533K | 788K | 1.42M | 1.02M | 1.24M |
| Days Sales Outstanding | 56.48 | 31.93 | 85.01 | 42.12 | 60.08 | 73.75 | 63.88 | 187.96 | 41.89 | 111.97 | 61.02 | 53.13 | 74.34 | 57.7 | 64.3 |
| Inventory | 840K | 1.21M | 904K | 1.96M | 2.32M | 4.43M | 3.81M | 1.79M | 181K | 229K | 252K | 294K | 424K | 450K | 898K |
| Days Inventory Outstanding | 146.32 | 142.8 | 111.36 | 328.74 | 138.86 | 185.81 | 267.62 | 739.9 | 99.95 | 295.35 | 102.77 | 120.3 | 77.5 | 244.06 | 360.58 |
| Other Current Assets | 184K | 156K | 1.99M | 858K | 1.21M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 398K |
| Total Non-Current Assets | 154K | 190K | 4.28M | 4.73M | 3.52M | 8.53M | 15.65M | 4.13M | 1.15M | 1.52M | 4.35M | 22.23M | 6.19M | 4.97M | 5.48M |
| Property, Plant & Equipment | 0 | 8K | 178K | 1.18M | 2.53M | 5.37M | 9.37M | 3.76M | 395K | 299K | 508K | 585K | 728K | 941K | 1.13M |
| Fixed Asset Turnover | 475.80x | 607.25x | 28.34x | 3.79x | 2.93x | 1.26x | 0.86x | 0.31x | 3.71x | 13.46x | 6.28x | 9.25x | 9.59x | 6.88x | 6.23x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 408K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 39K | 39K | 39K | 39K | 40K | 484K | 370K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.5M | 19.75M | 500K | 1.43M | 2.77M |
| Other Non-Current Assets | 115K | 143K | 4.06M | 3.52M | 956K | 2.67M | 5.51M | 372K | 753K | 1.22M | 1.35M | 1.89M | 4.97M | 2.6M | 1.58M |
| Total Assets | 5.32M | 6.55M | 13.52M | 19.7M | 28.92M | 43.92M | 47.35M | 32.57M | 24.02M | 16.57M | 56.57M | 74.24M | 24.89M | 9.54M | 13.36M |
| Asset Turnover | 0.67x | 0.74x | 0.37x | 0.23x | 0.26x | 0.15x | 0.17x | 0.04x | 0.06x | 0.24x | 0.06x | 0.07x | 0.28x | 0.68x | 0.52x |
| Asset Growth % | -209.43% | -51.57% | -31.4% | -31.87% | -34.15% | -7.24% | 45.36% | 35.59% | 44.98% | -70.71% | -23.8% | 198.29% | 160.84% | -28.57% | - |
| Total Current Liabilities | 1.36M | 2.06M | 2.56M | 3.59M | 4.21M | 5.04M | 6.31M | 5.71M | 3.05M | 3.52M | 3.13M | 3.45M | 11.27M | 9.54M | 3.36M |
| Accounts Payable | 1.1M | 1.45M | 703K | 801K | 905K | 1.41M | 726K | 492K | 285K | 366K | 222K | 424K | 244K | 220K | 137K |
| Days Payables Outstanding | 179.4 | 171.19 | 86.6 | 134.48 | 54.14 | 59.14 | 50.97 | 202.92 | 157.38 | 472.05 | 90.54 | 173.5 | 44.6 | 119.32 | 55.01 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 1.14M | 24K | 0 | 0 | 0 | 0 | 5.61M | 4.57M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 8K | 42K | 96K | 1M | 740K | 1.01M | 830K | 1.07M | 1.16M |
| Other Current Liabilities | 263K | 606K | 483K | 634K | 296K | 264K | 263K | 306K | 1.58M | 88K | 197K | 0 | 2.44M | 2.29M | 140K |
| Current Ratio | 3.79x | 3.09x | 3.61x | 4.17x | 6.03x | 7.02x | 5.02x | 4.98x | 7.49x | 4.27x | 16.69x | 15.08x | 1.66x | 0.48x | 2.35x |
| Quick Ratio | 3.17x | 2.50x | 3.25x | 3.63x | 5.48x | 6.14x | 4.42x | 4.67x | 7.43x | 4.20x | 16.61x | 14.99x | 1.62x | 0.43x | 2.08x |
| Cash Conversion Cycle | 23.4 | 3.54 | 109.77 | 236.37 | 144.79 | 200.42 | 280.53 | 724.95 | -15.54 | -64.73 | 73.26 | -0.07 | 107.24 | 182.44 | 369.88 |
| Total Non-Current Liabilities | 1.07M | 347K | 4.73M | 3.41M | 3.81M | 7.68M | 12.48M | 18.54M | 8.15M | 5.04M | 31.25M | 30.57M | 15.51M | 17.3M | 15.69M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 2.1M | 107K | 0 | 0 | 25.13M | 24.93M | 8.87M | 9.92M | 8M |
| Capital Lease Obligations | 0 | 0 | 0 | 155K | 1.01M | 2.22M | 5.39M | 1.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.07M | 347K | 4.73M | 3.26M | 2.81M | 5.46M | 4.99M | 16.94M | 8.15M | 3M | 3M | 3M | 3M | 3M | 3M |
| Total Liabilities | 2.44M | 2.41M | 7.29M | 7M | 8.02M | 12.72M | 18.8M | 24.25M | 11.21M | 8.56M | 34.38M | 34.02M | 26.77M | 26.84M | 19.04M |
| Total Debt | 0 | 0 | 155K | 1.01M | 2.02M | 3.29M | 9.35M | 2.24M | 0 | 0 | 25.13M | 24.93M | 14.47M | 14.56M | 8M |
| Net Debt | -954K | -259K | -4.09M | -5.51M | -18.63M | -25.39M | -4.69M | -6.18M | -12M | -9.13M | 23.11M | 957K | -2.1M | 11.73M | 2.65M |
| Debt / Equity | 0.00x | - | 0.02x | 0.08x | 0.10x | 0.11x | 0.33x | 0.27x | - | - | 1.13x | 0.62x | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.10x | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -1437.75x | -129.85x | -5773.20x | -5.27x | -19.99x | -13.86x | -5.75x | -11.30x | -16.87x | -54.42x |
| Total Equity | 2.88M | 4.14M | 6.22M | 12.7M | 20.9M | 31.2M | 28.55M | 8.33M | 12.81M | 8.01M | 22.2M | 40.23M | -1.89M | -17.3M | -5.68M |
| Equity Growth % | -208.25% | -33.47% | -51.01% | -39.22% | -33% | 9.26% | 242.93% | -35.03% | 60.05% | -63.93% | -44.82% | 2233.95% | 89.1% | -204.31% | - |
| Book Value per Share | 2.11 | 3.03 | 4.56 | 10.27 | 34.87 | 58.64 | 114.68 | 52.34 | 136.10 | 148.54 | 400.27 | 1126.81 | -182.90 | -1684.88 | -102.40 |
| Total Shareholders' Equity | 2.88M | 4.14M | 6.22M | 12.84M | 21.03M | 31.09M | 27.73M | 7.71M | 12.81M | 8.01M | 22.2M | 40.23M | -1.89M | -17.3M | -5.68M |
| Common Stock | 66K | 65K | 65K | 65K | 65K | 63K | 54K | 49K | 45K | 42K | 44K | 44K | 0 | 0 | 0 |
| Retained Earnings | -285.6M | -281.22M | -278.88M | -271.84M | -257.86M | -226.49M | -211.82M | -207.17M | -178.37M | -167.26M | -151.55M | -131.93M | -113.97M | -95.63M | -82.44M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 101K | 0 | 0 | 0 | 1K | -4.8M | -1K | -19K | -115K | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | -138K | -133K | 103K | 827K | 621K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Critical liquidity and insolvency
As reported in recent financial filings, RKDA's total assets have contracted from $19.7 million in 2023Q4 to just $5.3 million by 2026Q1, signaling a rapid liquidation of the balance sheet as the company attempts to pivot its business model while facing persistent operational losses.
The consistent decline in total assets suggests that the company is consuming its resource base to fund ongoing operations rather than investing in growth. This trajectory implies that the firm's ability to sustain its current intellectual property development is increasingly compromised without external capital infusion.
Based on the company's 2025Q4 reported figures, cash and equivalents plummeted to a precarious $259,000, which represents a significant reduction from the $6.5 million held in 2023Q4, highlighting an urgent liquidity crisis that threatens the firm's ability to meet near-term obligations.
While the current ratio remains above 3.0, this metric is misleading given the absolute scarcity of liquid assets relative to the company's historical burn rate. Investors should monitor this closely, as the current cash position appears insufficient to support even a single quarter of standard operating expenses.
According to quarterly balance sheet data, RKDA's retained earnings have deepened to a deficit of $285.6 million as of 2026Q1, reflecting years of value-destroying operations that have consistently depleted the company's equity base and necessitated repeated strategic pivots.
The persistent growth of the accumulated deficit indicates that the company has failed to achieve a return on invested capital that exceeds its cost of operations. This trend suggests that equity holders are facing significant dilution risk as the firm likely seeks to recapitalize its balance sheet.
As indicated by the company's financial statements, goodwill remains stagnant at $39,000, which may suggest that the firm's core intellectual property is not being adequately reflected on the balance sheet, potentially masking the true value or impairment risk of its remaining patent portfolio.
The lack of movement in intangible assets despite the company's pivot to a licensing model warrants further investigation into whether these assets are being properly valued. If the IP holds latent value, it is currently not translating into the tangible liquidity required to sustain the business.
Quick answers to the most common questions about buying RKDA stock.
As of 2025, Arcadia Biosciences, Inc. (RKDA) had total assets of $6.5M including $6.4M in current assets.
Arcadia Biosciences, Inc. (RKDA) carries total debt of $0.0M, offset by $4.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Arcadia Biosciences, Inc. (RKDA) has total shareholders' equity (book value) of $4.1M ($3.03 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Arcadia Biosciences, Inc. (RKDA) reported a current ratio of 3.09x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.