As of December 31,

2021

2020

Assets

Current assets:

Cash and cash equivalents

$

28,685

$

14,042

Short-term investments

—

11,625

Accounts receivable, net of allowance for doubtful accounts of $76 and $0
   as of December 31, 2021 and 2020, respectively

1,370

1,406

Inventories, net — current

4,433

3,812

Prepaid expenses and other current assets

900

811

Total current assets

35,388

31,696

Restricted cash

—

2,001

Property and equipment, net

2,291

3,539

Right of use assets

3,081

5,826

Inventories, net — noncurrent

2,494

3,485

Goodwill

—

408

Intangible assets, net

484

370

Other noncurrent assets

180

23

Total assets

$

43,918

$

47,348

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable and accrued expenses

$

3,638

$

4,105

Amounts due to related parties

64

80

Debt — current

—

1,141

Unearned revenue — current

—

8

Operating lease liability — current

1,074

717

Other current liabilities

264

263

Total current liabilities

5,040

6,314

Debt — noncurrent

—

2,105

Operating lease liability — noncurrent

2,220

5,389

Common stock warrant liabilities

3,392

2,708

Other noncurrent liabilities

2,070

2,280

Total liabilities

12,722

18,796

Stockholders’ equity:

Common stock, $0.001 par value—150,000,000 shares authorized as of
   December 31, 2021 and December 31, 2020; 22,184,235 and 13,450,861 shares
   issued and outstanding as of December 31, 2021 and December 31, 2020,
   respectively.

63

54

Additional paid-in capital

257,515

239,496

Accumulated deficit

(226,485

)

(211,825

)

Total Arcadia Biosciences stockholders’ equity

31,093

27,725

Non-controlling interest

103

827

Total stockholders' equity

31,196

28,552

Total liabilities and stockholders’ equity

$

43,918

$

47,348

Year Ended December 31,

2021

2020

Revenues:

Product

$

6,587

$

1,044

License

17

6,801

Royalty

176

—

Contract research and government grants

—

106

Total revenues

6,780

7,951

Operating expenses (income):

Cost of product revenues

8,708

5,199

Research and development

3,889

7,960

Gain on sale of Verdeca

—

(8,814

)

Loss on sale of Arcadia Spain

497

—

Impairment of intangible assets

3,302

—

Impairment of goodwill

1,648

—

Change in fair value of contingent consideration

(210

)

—

Impairment of property and equipment, net

1,534

—

Selling, general and administrative

22,938

16,467

Total operating expenses

42,306

20,812

Loss from operations

(35,526

)

(12,778

)

Interest expense

(20

)

(47

)

Other income, net

10,114

740

Change in fair value of common stock warrant liabilities

8,946

6,570

Loss on extinguishment of warrant liability

—

(635

)

Gain on extinguishment of PPP loan

1,123

—

Offering costs

(769

)

—

Net loss before income taxes

(16,132

)

(6,150

)

 Income tax (provision) benefit

(2

)

124

 Net loss

(16,134

)

(6,026

)

 Net loss attributable to non-controlling interest

(1,474

)

(1,371

)

 Net loss attributable to common stockholders

$

(14,660

)

$

(4,655

)

 Net loss per share attributable to common stockholders:

 Basic and diluted

$

(0.69

)

$

(0.47

)

 Weighted-average number of shares used in per share
   calculations:

 Basic and diluted

21,280,620

9,959,018

 Other comprehensive loss, net of tax

 Unrealized losses on investment securities

—

(1

)

 Other comprehensive loss

—

(1

)

 Comprehensive loss attributable to common stockholders

$

(14,660

)

$

(4,656

)

Year Ended December 31,

2021

2020

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$

(16,134

)

$

(6,026

)

Adjustments to reconcile net loss to cash used in operating activities:

Change in fair value of common stock warrant liabilities

(8,946

)

(6,570

)

Change in fair value of contingent consideration

(210

)

—

Offering costs

769

—

Depreciation

929

632

Amortization of intangible assets

116

30

Lease amortization

1,276

1,048

Impairment of intangible assets

3,302

—

Impairment of goodwill

1,648

—

Loss (Gain) on disposal of equipment

23

(8

)

Loss on disposal of intangible assets

222

—

Net amortization of investment premium

—

(44

)

Stock-based compensation

1,541

2,042

Bad debt expense

76

—

Gain on sale of Verdeca

—

(8,814

)

Realized gain on corporate securities

(10,221

)

—

Corporate securities received in exchange for license agreement

—

(4,318

)

Unrealized gain on corporate securities

—

(656

)

Write-down of inventory and prepaid production costs

3,593

4,311

Loss on extinguishment of warrant liability

—

635

Gain on extinguishment of PPP loan

(1,123

)

—

Impairment of property and equipment

1,534

—

Deferred income taxes

—

(107

)

Changes in operating assets and liabilities:

Accounts receivable

(40

)

(1,119

)

Inventories

(2,383

)

(9,751

)

Prepaid expenses and other current assets

56

39

Other noncurrent assets

(158

)

(15

)

Accounts payable and accrued expenses

(372

)

(580

)

Amounts due to related parties

(16

)

40

Unearned revenue

(8

)

(34

)

Other current liabilities

1

(43

)

Operating lease payments

(1,343

)

(910

)

Net cash used in operating activities

(25,868

)

(30,218

)

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of property and equipment

19

8

Purchases of property and equipment

(1,007

)

(2,335

)

Proceeds from sale of Verdeca

—

3,153

Acquisitions, net of cash acquired

(4,250

)

(500

)

Purchases of investments

—

(1,292

)

Proceeds from sales and maturities of investments

21,846

18,250

Net cash provided by (used in) investing activities

16,608

17,284

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from issuance of common stock and warrants from
   December 2020 Offering

—

8,000

Payments of offering costs relating to December 2020 Offering

—

(652

)

Proceeds from issuance of common stock and warrants from
   January 2021 PIPE securities purchase agreement

25,147

—

Payments of offering costs relating to January 2021 PIPE
   securities purchase agreement

(1,912

)

—

Proceeds from borrowings

—

3,108

Payments of transaction costs relating to extinguishment of warrant liability

—

(863

)

Principal payments on notes payable

(2,146

)

(34

)

Proceeds from exercise of warrants

22

9,372

Proceeds from exercise of stock options and purchases through ESPP

39

51

Capital contributions received from non-controlling interest

750

1,578

Net cash provided by financing activities

21,900

20,560

Effects of foreign currency translation on cash and cash equivalents

2

—

Net increase (decrease) in cash, cash equivalents and restricted cash

12,642

7,626

Cash, cash equivalents and restricted cash — beginning of period

16,043

8,417

Cash, cash equivalents and restricted cash — end of period

$

28,685

$

16,043

$

—

$

—

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:

Cash paid for interest

$

25

$

10

Cash paid for taxes

$

1

$

1

NONCASH TRANSACTIONS:

Shares of common stock issued at closing of ISI transaction

$

—

$

432

Common stock warrants issued to placement agent and included in offering costs related to
    December 2020 Purchase Agreement

—

287

Common stock warrants issued to placement agent and included in offering costs related to
   May 2020 Warrant Transaction

—

215

Common stock warrants issued to placement agent and included in offering costs related to
   July 2020 Warrant Transaction

—

101

Fair value of shares of common stock issued at closing of Arcadia Wellness transaction

2,053

—

Common stock warrants issued to placement agent and included in offering
   costs related to January 2021 PIPE securities purchase agreement

942

—

Right of use assets obtained in exchange for new operating lease liabilities

1,664

331

Right of use assets obtained through modification of existing lease agreement

—

4,207

Fixed assets acquired with notes payable

—

37

Purchases of fixed assets included in accounts payable and accrued expenses

—

71