Revenue growth has turned negative with an 8.3% contraction in 2026Q1, while operating margins remain deeply suppressed at -70.8% due to persistent overhead costs.
| 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 |
|---|
| Sales/Revenue | 4.76M | 4.86M | 5.04M | 4.45M | 7.42M | 6.78M | 8.03M | 1.17M | 1.46M | 4.03M | 3.19M | 5.41M | 6.98M | 6.48M | 7.01M |
| Revenue Growth % | -9.53% | -3.71% | 13.27% | -39.96% | 9.41% | -15.61% | 587.25% | -20.15% | -63.64% | 26.29% | -41.12% | -22.46% | 7.78% | -7.59% | - |
| Cost of Goods Sold | 3.12M | 3.1M | 2.96M | 2.17M | 6.1M | 8.71M | 5.2M | 885K | 661K | 283K | 895K | 892K | 2M | 673K | 909K |
| COGS % of Revenue | - | 63.77% | 58.73% | 48.81% | 82.25% | 128.44% | 64.71% | 75.71% | 45.15% | 7.03% | 28.07% | 16.48% | 28.6% | 10.39% | 12.97% |
| Gross Profit | 1.64M | 1.76M | 2.08M | 2.28M | 1.32M | -1.93M | 2.83M | 284K | 803K | 3.74M | 2.29M | 4.52M | 4.99M | 5.8M | 6.1M |
| Gross Margin % | 34.49% | 36.23% | 41.27% | 51.19% | 17.75% | -28.44% | 35.29% | 24.29% | 54.85% | 92.97% | 71.93% | 83.52% | 71.4% | 89.61% | 87.03% |
| Gross Profit Growth % | - | -15.47% | -8.68% | 73.12% | 168.31% | -168.01% | 898.24% | -64.63% | -78.55% | 63.24% | -49.29% | -9.29% | -14.13% | -4.85% | - |
| Operating Expenses | 11.19M | 11.76M | 5.73M | 8.38M | 15.32M | 33.6M | 15.61M | 19.66M | 17.67M | 18.06M | 20.91M | 20.09M | 20.14M | 16.37M | 16.23M |
| OpEx % of Revenue | - | 241.97% | 113.58% | 188.19% | 206.58% | 495.55% | 194.34% | 1682.21% | 1207.17% | 448.53% | 655.99% | 370.98% | 288.43% | 252.72% | 231.54% |
| Selling, General & Admin | 6.44M | 7M | 9.64M | 8.23M | 15.04M | 22.94M | 16.47M | 13.57M | 11.6M | 10.65M | 12.25M | 11.12M | 10.13M | 7.97M | 8.28M |
| SG&A % of Revenue | - | 144.11% | 191.1% | 184.87% | 202.7% | 338.32% | 204.97% | 1160.56% | 792.62% | 264.56% | 384.25% | 205.38% | 145.03% | 122.99% | 118.16% |
| Research & Development | 9K | 9K | 53K | 64K | 1.51M | 3.89M | 7.96M | 7.1M | 6.07M | 7.41M | 8.66M | 8.97M | 10.01M | 8.4M | 7.95M |
| R&D % of Revenue | - | 0.19% | 1.05% | 1.44% | 20.34% | 57.36% | 99.08% | 607.19% | 414.55% | 183.98% | 271.74% | 165.61% | 143.4% | 129.73% | 113.38% |
| Other Operating Expenses | 1.26M | 4.75M | -3.96M | 84K | -1.22M | 6.77M | -8.81M | -1M | 0 | 0 | 0 | 0 | 0 | 5K | 8K |
| Operating Income | -9.55M | -9.99M | -3.65M | -6.1M | -14.01M | -35.53M | -12.78M | -19.38M | -16.87M | -14.31M | -18.62M | -15.56M | -15.15M | -10.57M | -10.13M |
| Operating Margin % | -200.78% | -205.74% | -72.31% | -137% | -188.82% | -523.98% | -159.05% | -1657.91% | -1152.32% | -355.56% | -584.07% | -287.46% | -217.03% | -163.11% | -144.51% |
| Operating Income Growth % | - | -173.99% | 40.22% | 56.44% | 60.57% | -178.02% | 34.07% | -14.88% | -17.85% | 23.12% | -19.64% | -2.71% | -43.41% | -4.3% | - |
| EBITDA | -9.53M | -9.96M | -3.54M | -5.82M | -13.53M | -34.48M | -12.12M | -19.19M | -16.72M | -14.04M | -18.32M | -15.27M | -14.79M | -10.18M | -9.75M |
| EBITDA Margin % | -200.21% | -205.08% | -70.07% | -130.56% | -182.37% | -508.57% | -150.81% | -1641.32% | -1141.8% | -348.63% | -574.53% | -282.03% | -211.9% | -157.07% | -139.12% |
| EBITDA Growth % | -197.32% | -181.84% | 39.21% | 57.02% | 60.77% | -184.59% | 36.85% | -14.78% | -19.09% | 23.37% | -19.96% | -3.2% | -45.41% | -4.34% | - |
| D&A (Non-Cash Add-back) | 27K | 32K | 113K | 287K | 479K | 1.04M | 662K | 194K | 154K | 279K | 304K | 294K | 358K | 391K | 378K |
| EBIT | -9.55M | -9.99M | -7.61M | -6.02M | -15.23M | -28.75M | -6.1M | -28.87M | -13.47M | -14.93M | -18.28M | -15.27M | -15.75M | -10.56M | -10.12M |
| Net Interest Income | 21K | 221K | 782K | 695K | 289K | -20K | -47K | -5K | -2.56M | -747K | -1.32M | -2.66M | -1.39M | -626K | -186K |
| Interest Income | 21K | 221K | 782K | 695K | 289K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 20K | 47K | 5K | 2.56M | 747K | 1.32M | 2.66M | 1.39M | 626K | 186K |
| Other Income/Expense | 238K | 7.66M | -661K | 781K | 3.19M | 19.39M | 6.63M | -9.49M | 3.4M | -1.37M | -979K | -2.37M | -1.99M | -621K | -178K |
| Pretax Income | -9.31M | -2.33M | -4.31M | -5.32M | -10.81M | -16.13M | -6.15M | -28.87M | -13.47M | -15.68M | -19.6M | -17.93M | -17.14M | -11.19M | -10.31M |
| Pretax Margin % | -195.78% | -47.98% | -85.41% | -119.47% | -145.78% | -237.94% | -76.55% | -2469.72% | -920.08% | -389.49% | -614.77% | -331.18% | -245.55% | -172.69% | -147.05% |
| Income Tax | 8K | 8K | 8K | 8K | 14K | 2K | -124K | 2K | 10K | 26K | 25K | 26K | 263K | 167K | 213K |
| Effective Tax Rate % | -0.09% | -0.34% | -0.19% | -0.15% | -0.13% | -0.01% | 2.02% | -0.01% | -0.07% | -0.17% | -0.13% | -0.15% | -1.53% | -1.49% | -2.07% |
| Net Income | -9.32M | -2.34M | -7.04M | -13.98M | -15.38M | -14.66M | -4.66M | -28.8M | -13.48M | -15.71M | -19.62M | -17.96M | -18.34M | -13.2M | -12.37M |
| Net Margin % | -195.94% | -48.15% | -139.5% | -313.9% | -207.28% | -216.22% | -57.94% | -2464.07% | -920.76% | -390.14% | -615.56% | -331.66% | -262.66% | -203.69% | -176.46% |
| Net Income Growth % | -362.45% | 66.77% | 49.66% | 9.07% | -4.88% | -214.93% | 83.84% | -113.69% | 14.18% | 19.96% | -9.29% | 2.09% | -38.98% | -6.67% | - |
| Net Income (Continuing) | -9.32M | -2.34M | -4.32M | -5.33M | -10.83M | -16.13M | -6.03M | -28.87M | -13.48M | -15.71M | -19.62M | -17.96M | -18.34M | -13.2M | -10.52M |
| Discontinued Operations | 0 | 0 | -2.72M | -8.66M | -4.78M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | -138K | -133K | 103K | 827K | 621K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -6.81 | -1.71 | -5.16 | -11.30 | -26.05 | -30.33 | -24.20 | -181.50 | -143.16 | -291.38 | -353.85 | -503.00 | -448.39 | -322.62 | -302.44 |
| EPS Growth % | -361.49% | 66.86% | 54.34% | 56.62% | 14.11% | -25.33% | 86.67% | -26.78% | 50.87% | 17.65% | 29.65% | -12.18% | -38.98% | -6.67% | - |
| EPS (Basic) | - | -1.71 | -5.16 | -11.30 | -26.05 | -30.33 | -24.20 | -181.50 | -143.16 | -291.38 | -353.85 | -503.00 | -448.39 | -322.62 | -302.44 |
| Diluted Shares Outstanding | 1.37M | 1.37M | 1.36M | 1.24M | 599.39K | 532.01K | 248.97K | 159.08K | 94.16K | 53.91K | 55.46K | 35.7K | 10.31K | 10.27K | 55.51K |
| Basic Shares Outstanding | 1.37M | 1.37M | 1.36M | 1.24M | 599.39K | 532.01K | 248.97K | 159.08K | 94.16K | 53.91K | 55.46K | 35.7K | 10.31K | 10.27K | 55.51K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Critical liquidity and insolvency risk
As indicated by recent quarterly filings, RKDA's revenue growth has trended into negative territory, with a 8.3% decline in 2026Q1, reflecting the ongoing challenges of transitioning from a consumer-packaged goods model to a more volatile, project-based intellectual property licensing framework within the agricultural inputs sector.
The shift away from consumer brands like GoodWheat appears to have created a top-line vacuum that the nascent licensing business has yet to fill. Investors should monitor whether the company can stabilize its revenue base, as the current trajectory suggests that the loss of transactional volume is outpacing the acquisition of new royalty-bearing agreements.
Based on reported financial statements, RKDA's gross margin has fluctuated significantly, reaching 36.4% in 2026Q1, which highlights the inherent difficulty in maintaining consistent profitability while the company lacks the necessary economies of scale to absorb its fixed cost base in a competitive agricultural biotech market.
The volatility in gross margins suggests that the company's pricing power is limited and highly sensitive to the specific mix of licensing versus product sales. Without a transition to a truly capital-light model, these margins may remain insufficient to cover the substantial corporate overhead required to maintain the firm's patent portfolio.
According to historical income statement data, RKDA continues to struggle with negative operating margins, which reached -70.8% in 2026Q1, demonstrating that the company's SG&A expenses remain disproportionately high relative to its current revenue scale, preventing any meaningful path toward operational self-sufficiency or positive cash flow generation.
The persistent inability to scale operating income faster than gross profit suggests that the current cost structure is misaligned with the company's revenue-generating capacity. This indicates that management may need to implement more aggressive rationalization of fixed costs to prevent further erosion of shareholder value.
As reported in recent financial disclosures, RKDA's net income has been characterized by extreme swings, including a $4.4 million loss in 2026Q1, which suggests that reported earnings are heavily influenced by non-operating items and asset divestitures rather than sustainable, recurring operational performance from its core biotech assets.
The inconsistency in net income, punctuated by occasional positive quarters, warrants further investigation into the nature of these gains, which appear to be non-recurring. Investors should be cautious, as these figures likely mask the underlying cash burn and the lack of a stable, profitable business model.
Based on the company's reported cash position of only $259,000, the primary risk is an immediate liquidity crisis, though some analysts might argue that the remaining patent library holds latent option value that could be realized through a strategic sale to a larger agricultural conglomerate.
While the intellectual property may possess technical merit, the current financial reality suggests that the company is operating as a distressed entity. The market appears to be pricing in a high probability of insolvency, and any potential upside remains contingent on a rapid, successful monetization of assets that has yet to materialize.
Quick answers to the most common questions about buying RKDA stock.
For fiscal year 2025, Arcadia Biosciences, Inc. (RKDA) reported total revenue of $4.9M. This represents a 30.7% decline compared to $7.0M in 2012.
Arcadia Biosciences, Inc. (RKDA) reported a net loss of $2.3M for the fiscal year ending 2025.
Arcadia Biosciences, Inc. (RKDA) reported an operating income of $-10.0M, resulting in an operating profit margin of -205.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Arcadia Biosciences, Inc. (RKDA) generated $1.8M in gross profit for the year, representing a gross profit margin of 36.2%. This demonstrates the company's core pricing power and production efficiency.