As of December 31,

2024

2023

Assets

Current assets:

Cash and cash equivalents

$

4,242

$

6,518

Short-term investments

—

5,124

Accounts receivable and other receivables, net of allowance for doubtful accounts
   of $0 as of December 31, 2024 and 2023

1,175

506

Inventories, net — current

904

837

Assets held for sale

—

51

Note receivable — current

1,894

—

Prepaid expenses and other current assets

931

807

Current assets of discontinued operations — GoodWheat

96

1,129

Total current assets

9,242

14,972

Property and equipment, net

41

70

Right of use assets

137

792

Inventories, net — noncurrent

—

196

Intangible assets, net

39

39

Note receivable — noncurrent

3,966

—

Other noncurrent assets

92

164

Noncurrent assets of discontinued operations — GoodWheat

—

3,472

Total assets

$

13,517

$

19,705

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable and accrued expenses

$

2,108

$

1,910

Amounts due to related parties

30

58

Operating lease liability — current

155

852

Other current liabilities

270

270

Current liabilities of discontinued operations — GoodWheat

—

500

Total current liabilities

2,563

3,590

Operating lease liability — noncurrent

—

155

Common stock warrant and option liabilities

2,731

1,257

Other noncurrent liabilities

2,000

2,000

Total liabilities

7,294

7,002

Commitments and contingencies (Note 15)

Stockholders’ equity:

Common stock, $0.001 par value—150,000,000 shares authorized as of
   December 31, 2024 and December 31, 2023; 1,364,940 and 1,285,337 shares
   issued and outstanding as of December 31, 2024 and December 31, 2023,
   respectively.

65

65

Additional paid-in capital

285,036

284,515

Accumulated other comprehensive income

—

101

Accumulated deficit

(278,878

)

(271,840

)

Total Arcadia Biosciences stockholders’ equity

6,223

12,841

Non-controlling interest

—

(138

)

Total stockholders' equity

6,223

12,703

Total liabilities and stockholders’ equity

$

13,517

$

19,705

Year Ended December 31,

2024

2023

Revenues:

Product

$

5,012

$

4,437

License

7

17

Royalty

26

—

Total revenues

5,045

4,454

Operating expenses (income):

Cost of revenues

2,963

2,174

Research and development

53

64

Gain on sale of intangible assets

(4,000

)

—

Gain on sale of property and equipment

—

(29

)

Impairment of property and equipment

36

—

Impairment of ROU asset

—

113

Selling, general and administrative

9,641

8,233

Total operating expenses

8,693

10,555

Loss from operations

(3,648

)

(6,101

)

Interest income

782

695

Other income, net

31

48

Valuation loss on March 2023 PIPE

—

(6,076

)

Change in fair value of common stock warrant and option liabilities

(1,474

)

6,544

Issuance and offering costs allocated to liability classified options

—

(430

)

Net loss from continuing operations before income taxes

(4,309

)

(5,320

)

Income tax expense

(8

)

(8

)

Net loss from continuing operations

(4,317

)

(5,328

)

Net loss from discontinued operations — Body Care

—

(821

)

Net loss from discontinued operations — GoodWheat

(2,721

)

(7,837

)

Net loss

(7,038

)

(13,986

)

Net loss attributable to non-controlling interest

—

(5

)

Net loss attributable to common stockholders

$

(7,038

)

$

(13,981

)

Net loss per share attributable to common stockholders:

Basic and diluted from continuing operations

$

(3.17

)

$

(4.30

)

Basic and diluted from discontinued operations

$

(2.00

)

$

(7.00

)

Net loss per basic and diluted share attributable to common stockholders

$

(5.17

)

$

(11.30

)

Weighted-average number of shares used in per share calculations:

Basic and diluted

1,363,303

1,236,934

Other comprehensive income, net of tax

Unrealized gains on available-for-sale securities

$

127

$

101

Reclassification adjustment for gains on available-for-sale securities included in net loss

$

(228

)

$

—

Change in unrealized gains on available-for-sale securities

$

(101

)

$

101

Comprehensive loss

$

(7,139

)

$

(13,880

)

Year Ended December 31,

2024

2023

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$

(7,038

)

$

(13,986

)

Adjustments to reconcile net loss to cash used in operating activities:

Change in fair value of common stock warrant and option liabilities

1,474

(6,544

)

Issuance and offering costs allocated to liability classified options

—

430

Valuation loss on March 2023 PIPE

—

6,076

Depreciation

113

287

Lease amortization

652

697

Amortization of note receivable discount

(157

)

—

Gain on disposal of property and equipment

(65

)

(40

)

Gain on sale of RS durum wheat trait

(4,000

)

—

Stock-based compensation

512

717

Bad debt expense

—

20

Write-down of inventories

154

444

Impairment of property and equipment

36

—

Impairment of ROU asset

—

113

Write-down of non-controlling interest

138

—

Changes in operating assets and liabilities:

Accounts receivable and other receivables

(762

)

184

Inventories

550

(2,419

)

Prepaid expenses and other current assets

(124

)

1

Other noncurrent assets

72

2

Accounts payable and accrued expenses

(303

)

(522

)

Amounts due to related parties

(29

)

10

Operating lease payments

(850

)

(764

)

Net cash used in operating activities

(9,627

)

(15,294

)

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of property and equipment

334

115

Proceeds from sale of Verdeca — earn-out received

—

569

Proceeds from sale of investments

5,024

2,502

Proceeds from sale of RS durum wheat trait

4,000

—

Cash paid related to sale of GoodWheat

(2,000

)

—

Purchases of property and equipment

(16

)

(5

)

Purchases of investments

—

(7,525

)

Net cash provided by (used in) investing activities

7,342

(4,344

)

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from issuance of common stock, pre-funded warrants and
   preferred investment options from March 2023 PIPE

—

5,997

Payments of offering costs relating to March 2023 PIPE

—

(497

)

Proceeds from ESPP purchases

9

12

Net cash provided by financing activities

9

5,512

Net decrease in cash and cash equivalents

(2,276

)

(14,126

)

Cash and cash equivalents — beginning of period

6,518

20,644

Cash and cash equivalents — end of period

$

4,242

$

6,518

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:

NONCASH TRANSACTIONS:

Common stock options issued to placement agent and included in offering costs related to March 2023 PIPE

$

—

$

212

Warrant and option modifications included in Valuation loss on March 2023 PIPE

$

—

$

404

Proceeds from sale of property and equipment in accounts receivable and other receivables

$

—

$

8

Right of use assets obtained in exchange for new operating lease liabilities

$

86

$

—

Note receivable recognized from sale of GoodWheat

$

5,705

$

—