Arcadia Biosciences

Congratulations to?@TJ Schaefer on succeeding Stan Jacot as president & CEO, and we thank Stan?for all his valuable contributions!?Schaefer was previously CFO, and will be replaced in that role by Mark Kawakami.

Above Food has purchased the GoodWheat brand for $4M net!?This transaction enables us to monetize our IP early while we continue to pursue other crop licensing and royalty streams. And Above’s vertically integrated, farm-to-fork identity preservation system, reinforced by their owned assets can provide efficient commercialization of Arcadia’s wheat IP in the future!

Arcadia has sold its Resistant Starch Durum Wheat Trait to our long-time partner Corteva Agriscience for $4M, advancing the monetization of our non-GMO wheat IP. As a leading global agricultural company, Corteva is an ideal partner to bring this trait to farmers globally.

Arcadia’s positive progress continued the first quarter of 2024! Revenue increased both sequentially and year-over-year, and our gross profit margins have been greater than 30% for five consecutive quarters. Operating expenses continued to decline at a double-digit pace, and our loss from continuing operations is at the lowest level in 6 years. A replay of our Q1 2024 conference call is available in the “Investors” section of Arcadia’s website at?www.arcadiabio.com.

As we begin 2024, Arcadia is in a great position to continue its positive trajectory! GoodWheat? is now in more than 3,500 stores in three categories, and Zola? coconut water is positioned for double-digit growth with new flavors and distribution. We’ve delivered two straight years of gross profit growth for the first time in our history, and our SG&A expenses are at their lowest since 2019!?A replay of our Q4 2023 conference call is available in the “Investors” section of Arcadia’s website at www.arcadiabio.com.

Drumroll please… GoodWheat? pasta is one of the winners of the 2024 Better Homes & Gardens Food Awards!?They assembled a team of editors and test kitchen experts to taste and test products that are worth the hype - and sneaky delicious? GoodWheat pasta made the list. To learn more and view all 2024 winners, visit the linked article below!

Our sneaky delicious GoodWheat? Mac & Cheese is now available in three picky eater approved flavors on Amazon!? https://amzn.to/4bE2DR6

Packed with fiber and protein, GoodWheat Quikcakes and pasta are sneaky delicious? ways to reboot your New Year’s resolutions.?But don’t just take our word for it, check out this recognition we received from Eat This, Not That! where our Buttermilk Quikcakes were featured as one of The 30 Best Healthy New Grocery Products of 2023 (https://bit.ly/4b3J3gH), and our Spaghetti was recognized as one of The 11 Best Pastas on Grocery Shelves, According to a Dietitian (https://bit.ly/3Hsmsgi)! Not only do our pancakes and pasta support gut health and fuel you up – they’re so delicious, even the pickiest eaters love our GoodWheat products.

Arcadia had a strong third quarter, adding more than a thousand stores of distribution for GoodWheat? pasta and pancake mixes and Zola? coconut water, and expanding into a third category with the upcoming launch of GoodWheat Mac & Cheese! A replay of our Q3 conference call is available in the “Investors” section of Arcadia’s website at?www.arcadiabio.com.