Arcadia Biosciences (RKDA) Q3 2026 earnings summary

Executive summary

• Zola Q3 revenue rose 24% YoY to $1.619M, a record quarterly level driven by strong summer-program volumes; nine-month revenue increased 5%.

• Q3 net income was $1.755M, including a $2.574M warrant and option liability fair-value gain; nine-month net loss widened to $8.896M, and cash is insufficient for anticipated needs over the next 12 months.

Financial highlights

• Q3 revenue increased $317K, or 24%, to $1.619M; nine-month revenue rose $205K, or 5%, to $4.162M.

• Q3 cost of revenue fell 14% to $760K, down $124K, partly due to a $175K tariff refund; nine-month cost fell 5% to $2.272M, down $117K.

• Q3 operating loss narrowed to $839K from $1.152M; nine-month operating loss widened to $2.114M from $1.125M. Nine-month operating expenses rose 23% to $6.276M.

• Q3 net income was $1.755M versus $856K; nine-month net loss was $8.896M versus $1.003M, including investment and financing-related losses.

Outlook and guidance

• A newly formulated Zola Espresso in a 1-liter resealable carton, with just over 100 mg of caffeine, begins shipping in November 2026; leading customers made pre-launch commitments.

• Zola Original, Original with Pulp and Espresso slim cans are planned for H1 2027.

• Summer-program growth has created new distribution opportunities for 2027, including Texas and other regions.

• Merger, acquisition and other strategic alternatives are under evaluation; no assurance was given that funding or a transaction will be secured.