Arcadia Biosciences, Inc. (NASDAQ:RKDA) Q4 2023 Earnings Call Transcript

Dipesh Patel: Got it. And then I guess a follow-up question on the GoodWheat distribution channel. Which one would you say appears to be most profitable at this point?

Stan Jacot: Well, right now most of our distribution is in traditional grocery and those, I think, have equal profitability.

T.J. Schaefer: Those retailers.

Dipesh Patel: Okay. And then just a couple more. What innovative strategies can the company use to boost revenue growth in the coming quarters?

Stan Jacot: Yes, so I think we’ve kind of laid out some of our key principles. One was distribution growth, which we’ve highlighted on Zola. The other one is focusing on specific retailers for GoodWheat that we currently have distribution. And looking at the entire mix of tools, whether that’s in store or end out of store, to improve velocity and continue to add SKUs to those stores with our other – with our – to our other categories.

Dipesh Patel: Great. That’s helpful. And then last question for me. When does the company plan to complete the strategic review process?

Stan Jacot: Well, what we said is there’s no specific timetable to complete the review, so we are continuing to do our due diligence and we’ll have more information as material events occur.

Dipesh Patel: Got it. Thank you for taking my questions.

Operator: Thank you. I’ll now hand the call back over to President and CEO Stan Jacot for any closing remarks.

Stan Jacot: So, in summary, as we enter 2024, Arcadia is in a great position to continue its positive trajectory. We have transitioned the top line to high quality revenue that generates gross profit across multiple sources. We have rightsized the organization and streamlined our cost structure in order to extend our runway. Our GoodWheat is in more than 3,500 stores in three categories. And Zola Coconut Water is positioned for double-digit growth with new flavors and distribution. And finally, we remain focused on adjacent acquisitions as well as monetizing our IP. We look forward to updating you in the future. Thanks again for joining us and have a great rest of your day.

Operator: This concludes today’s conference call. Thank you for participating. And you may now disconnect.