As of December 31,

2022

2021

Assets

Current assets:

Cash and cash equivalents

$

20,644

$

28,685

Accounts receivable and other receivables, net of allowance for doubtful accounts of $3 and $76
   as of December 31, 2022 and 2021, respectively

1,287

1,370

Inventories, net — current

2,571

4,433

Assets held for sale

87

—

Prepaid expenses and other current assets

809

900

Total current assets

25,398

35,388

Property and equipment, net

704

2,291

Right of use assets

1,848

3,081

Inventories, net — noncurrent

767

2,494

Intangible assets, net

40

484

Other noncurrent assets

165

180

Total assets

$

28,922

$

43,918

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable and accrued expenses

$

2,881

$

3,638

Amounts due to related parties

48

64

Operating lease liability — current

1,010

1,074

Other current liabilities

270

264

Total current liabilities

4,209

5,040

Operating lease liability — noncurrent

1,007

2,220

Common stock warrant and option liabilities

806

3,392

Other noncurrent liabilities

2,000

2,070

Total liabilities

8,022

12,722

Stockholders’ equity:

Common stock, $0.001 par value—150,000,000 shares authorized as of
   December 31, 2022 and December 31, 2021; 616,079 and 554,609 shares
   issued and outstanding as of December 31, 2022 and December 31, 2021,
   respectively.

65

63

Additional paid-in capital

278,827

257,515

Accumulated deficit

(257,859

)

(226,485

)

Total Arcadia Biosciences stockholders’ equity

21,033

31,093

Non-controlling interest

(133

)

103

Total stockholders' equity

20,900

31,196

Total liabilities and stockholders’ equity

$

28,922

$

43,918

Year Ended December 31,

2022

2021

Revenues:

Product

$

8,960

$

6,587

License

879

17

Royalty

117

—

Total revenues

9,956

6,604

Operating expenses (income):

Cost of revenues

9,802

8,708

Research and development

1,509

3,889

(Gain) on sale of Verdeca

(1,138

)

0

Loss on sale of Arcadia Spain

—

497

Impairment of intangible assets

404

3,302

Impairment of goodwill

—

1,648

Change in fair value of contingent consideration

(70

)

(210

)

(Gain) on sale of property and equipment

(314

)

—

Impairment of property and equipment, net

530

1,534

Selling, general and administrative

18,048

22,938

Total operating expenses

28,771

42,306

Loss from operations

(18,815

)

(35,526

)

Interest income (expense)

289

(20

)

Other income, net

33

10,114

Change in fair value of common stock warrant and option liabilities

3,209

8,946

Gain on extinguishment of PPP loan

—

1,123

Issuance and offering costs

(314

)

(769

)

Net loss before income taxes

(15,598

)

(16,132

)

 Income tax (provision)

(14

)

(2

)

 Net loss

(15,612

)

(16,134

)

 Net loss attributable to non-controlling interest

(236

)

(1,474

)

 Net loss attributable to common stockholders

$

(15,376

)

$

(14,660

)

 Net loss per share attributable to common stockholders:

 Basic and diluted

$

(25.65

)

$

(27.56

)

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

 Basic and diluted

599,389

532,016

 Other comprehensive loss

—

—

 Comprehensive loss attributable to common stockholders

$

(15,376

)

$

(14,660

)

Year Ended December 31,

2022

2021

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$

(15,612

)

$

(16,134

)

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

Change in fair value of common stock warrant and option liabilities

(3,209

)

(8,946

)

Change in fair value of contingent consideration

(70

)

(210

)

Issuance and offering costs

314

769

Depreciation

439

929

Amortization of intangible assets

40

116

Lease amortization

884

1,276

Impairment of intangible assets

404

3,302

Impairment of goodwill

0

1,648

(Gain) Loss on disposal of equipment

(314

)

23

Loss on disposal of intangible assets

0

222

Stock-based compensation

1,106

1,541

Bad debt expense

60

76

Gain on sale of Verdeca

(1,138

)

—

Realized gain on corporate securities

—

(10,221

)

Write-down of inventories

2,471

3,593

Gain on extinguishment of PPP loan

—

(1,123

)

Impairment of property and equipment

530

1,534

Changes in operating assets and liabilities:

Accounts receivable and other receivables

592

(40

)

Inventories

1,118

(2,383

)

Prepaid expenses and other current assets

91

56

Other noncurrent assets

16

(158

)

Accounts payable and accrued expenses

(757

)

(372

)

Amounts due to related parties

(16

)

(16

)

Unearned revenue

0

(8

)

Other current liabilities

6

1

Operating lease payments

(932

)

(1,343

)

Net cash used in operating activities

(13,977

)

(25,868

)

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of property and equipment

920

19

Proceeds from sale of Verdeca — earn-out received

569

—

Purchases of property and equipment

(72

)

(1,007

)

Acquisitions, net of cash acquired

—

(4,250

)

Proceeds from sales and maturities of investments

—

21,846

Net cash provided by investing activities

1,417

16,608

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from issuance of common stock, pre-funded warrants and
   preferred investment options from August 2022 Offering

5,000

—

Payments of offering costs relating to August 2022 Offering

(488

)

—

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

)

Principal payments on notes payable

—

(2,146

)

Proceeds from exercise of warrants

—

22

Proceeds from exercise of stock options and purchases through ESPP

7

39

Capital contributions received from non-controlling interest

—

750

Net cash provided by financing activities

4,519

21,900

Effects of foreign currency translation on cash and cash equivalents

—

2

Net increase (decrease) in cash and cash equivalents

(8,041

)

12,642

Cash and cash equivalents — beginning of period

28,685

16,043

Cash and cash equivalents — end of period

$

20,644

$

28,685

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:

Cash paid for interest

$

1

$

25

Cash paid for taxes

$

—

$

1

NONCASH TRANSACTIONS:

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

$

—

$

2,053

Common stock warrant liabilities reclassified to equity upon adoption of ASU 2020-06

$

3,392

$

—

Common stock options issued to placement agent and included in offering
   costs related to August 2022 RDO securities purchase agreement

$

191

$

—

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

$

114

$

1,664

Proceeds from sale of property and equipment in accounts receivable and other receivables

$

19

$

—

Proceeds from sale of Verdeca in accounts receivable and other receivables

$

569

$

—