Arcadia Biosciences, Inc. (NASDAQ: RKDA) shares gathered steam Thursday. The Dallas-based company, a producer and marketer of innovative, plant-based health and wellness products, today released its financial and business results for the first quarter of 2025.
Said CEO T.J. Schaefer, “The momentum we experienced in the second half of 2024 has continued into 2025, and we are very pleased with our first quarter results.
“Zola® coconut water continues to thrive and significantly outperform the category, with sales increasing 90% and distribution growing 70% year-over-year. Our gross margins have now exceeded 30% for nine straight quarters, and our operating expenses are near their lowest level in 10 years, even with half a million dollars in transaction fees.
Revenues increased $213,000, or 22%, and consisted entirely of Zola coconut water sales during the first quarter of 2025 compared to the same period in 2024. Zola revenues increased $567,000, or 90% during the first quarter of 2025 compared to the same period in 2024.
Net income attributable to common stockholders for the first quarter of 2025 was $2.6 million, or $1.90 per share, a $5.0 million improvement from the $2.4 million net loss, or $1.78 per share, net loss for the first quarter of 2024.
RKDA shares topped 44 cents, or 10.2%, Thursday to $4.74.
