Arcadia Biosciences Inc Q2 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Raghuram Selvaraju - H.C. Wainwright & Co. - Analyst : Thanks a lot for taking my questions and congratulations on all this important progress. Firstly, I wanted to ask if there are any remaining crop trait assets that the company still owns that could be monetized in the future? Or if you feel that at this juncture, you've effectively transacted on everything that could be monetized?

Question: Raghuram Selvaraju - H.C. Wainwright & Co. - Analyst : Okay. And then secondly, I was wondering whether you can provide us with any visibility, any color on the timing of introduction of any additional Zola flavors? Or if you expect pineapple and lime to be the sole new flavor introductions that you make for the foreseeable future? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 13, 2024 / 8:30PM, RKDA.OQ - Q2 2024 Arcadia Biosciences Inc Earnings Call

Question: Raghuram Selvaraju - H.C. Wainwright & Co. - Analyst : And then the last question was with respect to what you see currently in terms of market research, broader market size assumptions for the segment in which Zola Coconut Water as a franchise competes. What percentage of that market would you need to effectively penetrate in order to achieve the goal of sustainable profitability according to your internal model approximately? Just so we have a sense of what kind of market share would translate into sustainability for the company?

Question: Raghuram Selvaraju - H.C. Wainwright & Co. - Analyst : Thank you.

Question: Ben Klieve - Lake Street Capital Markets, LLC - Analyst : Allright. Thanks for taking my questions. Congratulations on nice quarter and a lot of progress here year-to-date. A question on the quarter itself, you talked about all the different kind of tailwinds supporting Zola. And but I want to make sure that I really understand the kind of revenue makeup in the second quarter. Can you clarify that there was no kind of lumpy onetime revenues that came in and drove this real outperformance that were a function of kind of new product placements or anything sizable that would have given you that outperformance versus the category?

Question: Ben Klieve - Lake Street Capital Markets, LLC - Analyst : Okay. Great. That's good for you guys. Another question on the quarter itself and just maybe kind of longer-term trends over the last few quarters regarding GLA, you talked about this kind of ratcheting down to -- to be zero once you burn through your inventory exiting the year. Can you comment on GLA, as a percentage of your revenue base in the first quarter and the second quarter and kind of how you expect that to tail off here into the balance of this year? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 13, 2024 / 8:30PM, RKDA.OQ - Q2 2024 Arcadia Biosciences Inc Earnings Call

Question: Ben Klieve - Lake Street Capital Markets, LLC - Analyst : Okay, great. Very good. Let's see, one for me, you guys noted the kind of halfing of your cash burn from $15 million last year to this year. Wondering if you can talk about kind of the run rate that you're looking at as you exit '24 and go into '25, either on a quarterly or full year basis. I would expect your cash burn is going to be the lowest exiting the year and in this year, it will be $7.5 million. So I'm kind of curious how low that cash burn you think is going to be exiting '24 going into '25?

Question: Ben Klieve - Lake Street Capital Markets, LLC - Analyst : Got it. Got it. Very good for you guys. I appreciate you pick my questions. Congratulations again, really lot of good momentum coming onto you guys. I will get back in queue and best of luck here in the second half.