Categories Earnings, Health Care

Arcadia Biosciences stock down despite solid Q4 results

Arcadia Biosciences (RKDA) stock decreased by nearly 2% in the extended hours of trading despite the fourth quarter results surpassed analysts’ estimates. The company’s stock has soared above 100% this year after the firm announced decided to foray into the cannabis industry, which is touted to grow at a faster clip in the near future. In 2019, the company’s stock recovered from the losses recorded last year. In the last 12 months, it has lost 73%.

The Agri firm reported revenues of $444,000, down 69% over last year. The fourth quarter loss reduced drastically to $0.14 per share, an improvement of 78% compared to the prior year. The drop in revenues was mainly due to a reduction in government grants. However, the headline numbers topped analyst estimates. Analysts were expecting Arcadia to narrow its loss to $0.76 per share compared to $1.8 loss per share reported last year, and revenue to plunge 80% to $280,000 over last year.

Arcadia is undergoing a major transformation shifting its strategy from license and research-based model towards selling health and nutrition products. The company expects the reduction of revenues from licensing, grants, and research contracts to come down in the next 1.5 years, which would be offset by increased product revenues on the consumer products side.

Cannabis Foray

Arcadia announced in February that it’s making its entry into the promising weed industry. It has set up a new division called Arcadia Specialty Genomics, which would focus on improving the quality, yield, and resiliency of cannabis. Post the announcement, investors were quite about its prospects with the stock surging 68%. The company plans to get the necessary approvals for kick-starting pilot programs in early 2019.

In March first week, it received the go-ahead from the regulator in Hawaii to cultivate hemp for research purposes. The license would help Arcadia to conduct pilot programs for planting cannabis. It’s worth noting that Hawaii allows the sale of marijuana for commercial use. Shares of the firm increased 28% after the news announcement.

Investors would be expecting more insights from the management on the entry into the budding marijuana industry and future plans to monetize from the entry.

FDA approves SONOVA GLA Oil

The share price of Arcadia jumped 23% on March 15 as the firm has got the approval from the US Food and Drug Administration (FDA) for use of its gamma-linolenic acid (GLA) oil in cat foods. The oil which is extracted from safflower is already used in cat and dog foods for more than three years in Canada. With the foray into the US cat food market, revenues are expected to increase in the next fiscal, which would be a great tailwind for the firm.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

AZO Earnings: AutoZone reports higher sales and profit for Q3 2024

Automotive parts retailer AutoZone, Inc. (NYSE: AZO) on Tuesday said its third-quarter net sales and earnings increased modestly from last year. The company reported net sales of $4.24 billion for the

Infographic: Key highlights from Macy’s (M) Q1 2024 earnings results

Macy’s, Inc. (NYSE: M) reported first quarter 2024 earnings results today. Net sales decreased 2.7% year-over-year to $4.8 billion. Comparable sales were down 1.2% on an owned basis and down

Here are a few reasons why Beyond Meat (BYND) appears to be beyond hope

Shares of Beyond Meat, Inc. (NASDAQ: BYND) rose over 1% on Monday. The stock has dropped 18% year-to-date. The company delivered disappointing results for the first quarter of 2024 and

Comments

  1. Pingback: Student life
  2. Pingback: Dental emergencies
  3. Pingback: MBA in FUE
  4. Pingback: fue
  5. Pingback: Admission Process
  6. Pingback: Sedation dentistry
  7. Pingback: Grading System
  8. Pingback: metanail serum pro
  9. Pingback: Fiverr Earn
  10. Pingback: Fiverr Earn
  11. Pingback: Fiverr Earn
  12. Pingback: Fiverr Earn
  13. Pingback: fiverrearn.com
  14. Pingback: fiverrearn.com
  15. Pingback: fiverrearn.com
  16. Pingback: fiverrearn.com
  17. Pingback: fiverrearn.com
  18. Pingback: fiverrearn.com
  19. Pingback: fiverrearn.com
  20. Pingback: prostadine buy
  21. Pingback: ikaria juice
  22. Pingback: clima hoy
  23. Pingback: fiverrearn.com
  24. Pingback: fiverrearn.com
  25. Pingback: fiverrearn.com
  26. Pingback: cavapoo dog
  27. Pingback: jute rugs
  28. Pingback: Safe Piano Removal
  29. Pingback: frenchie doodle
  30. Pingback: blockchain
  31. Pingback: future university
  32. Pingback: future university
  33. Pingback: agen multisbo
  34. Pingback: french bulldogs
  35. Pingback: Fiverr
  36. Pingback: french bulldog
  37. Pingback: Warranty
  38. Pingback: Piano transport
  39. Pingback: Classic Books 500
  40. Pingback: Fiverr
  41. Pingback: Aussie porn
  42. Pingback: pupuk terbaik
  43. Pingback: partners
  44. Pingback: Public Policy
  45. Pingback: Medication safety
  46. Pingback: french bulldog
  47. Pingback: Betting tips
  48. Pingback: FiverrEarn
  49. Pingback: FiverrEarn
  50. Pingback: FiverrEarn
  51. Pingback: FiverrEarn
  52. Pingback: FiverrEarn
  53. Pingback: live sex cams
  54. Pingback: live sex cams
  55. Pingback: FiverrEarn
  56. Pingback: FiverrEarn
  57. Pingback: FiverrEarn
  58. Pingback: FiverrEarn
  59. Pingback: FiverrEarn
  60. Pingback: FiverrEarn
  61. Pingback: seo company tampa
  62. Pingback: Kuliah Termurah
  63. Pingback: FiverrEarn
  64. Pingback: synogut scam
  65. Pingback: cheap sex cams
  66. Pingback: fullersears.com
  67. Pingback: canine probiotics
  68. Pingback: live sex cams
  69. Pingback: live sex cams
  70. Pingback: frt trigger
  71. Pingback: 늑대닷컴
  72. Pingback: Slot Yunani
  73. Pingback: nang delivery
  74. Pingback: superslot
  75. Pingback: 918kiss
  76. Pingback: หวย24
  77. Pingback: Best toner
  78. Pingback: pg slot
  79. Pingback: carte uno reverse
  80. Pingback: megagame
  81. Pingback: electronic visa
  82. Pingback: weight drops
  83. Pingback: 300 wsm ammo
  84. Pingback: contratar sicario
  85. Pingback: itsMasum.Com
  86. Pingback: apprendre le code
  87. Pingback: itsmasum.com
  88. Pingback: prank hotline
  89. Pingback: itsmasum.com
  90. Pingback: joker gaming
  91. Pingback: dublin jobs
  92. Pingback: lahore jobs
  93. Pingback: amsterdam jobs
Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top