Arcadia Biosciences Shares Plunge Afterhours As Q4 Earnings Miss Estimates

Arcadia Biosciences Inc RKDA reported fourth-quarter revenue declined 70% year-over-year to $2.17 million, missing the consensus of $3.33 million.
Net loss was $(9.3) million of $(0.42) per share, compared to the $8.9 million of income recognized in 4Q20, missing the consensus of $(0.30).
RKDA reported a loss from operations of $(13.04) million for the quarter, compared to an income of $7.46 million a year ago.
Net cash used in operating activities for FY21 totaled $25.87 million, compared to $30.22 million in FY20.
Arcadia Biosciences held cash and cash equivalents of $28.68 million as of December 31, 2021.
RKDA shares have gained about 60.2% year-to-date
Price Action: RKDA shares are trading lower by 30.20% at $1.32 during the post-market session on Wednesday.