Arcadia Biosciences, Inc. Segments Disclosure
Note 18. Segment Reporting
The Company has one operating and reportable segment, which derives revenue primarily from the sale of Zola coconut water. The Company's is the Company’s chief operating decision maker ("CODM"). The CODM uses net loss for purposes of evaluating performance, forecasting future period financial results, allocating resources and setting incentive targets. The CODM evaluates segment business performance based primarily on consolidated net loss (from continuing operations) as reported on the consolidated statements of operations and comprehensive loss. The CODM considers budget-to-actual variances on a monthly basis for net loss when making decisions. Segment assets provided to the CODM are consistent with those reported on the consolidated balance sheets.
Information about the Company’s segment operations as of and for the years ended December 31, 2025 and 2024, are as follows (in thousands):
|
Year Ended December 31, |
|
||||
|
2025 |
|
2024 |
|
||
Total revenues |
$ |
4,858 |
|
$ |
5,045 |
|
Product COGS |
|
(3,090 |
) |
|
(2,484 |
) |
Other Adjustments |
|
(8 |
) |
|
(479 |
) |
Human capital & technology |
|
(1,879 |
) |
|
(4,222 |
) |
Corporate expenses |
|
(1,503 |
) |
|
(1,323 |
) |
Advertising & marketing |
|
(53 |
) |
|
(51 |
) |
Outside services |
|
(2,304 |
) |
|
(3,133 |
) |
Depreciation |
|
(32 |
) |
|
(113 |
) |
Other SG&A |
|
(1,230 |
) |
|
(799 |
) |
Interest income |
|
221 |
|
|
782 |
|
Credit loss |
|
(4,745 |
) |
|
— |
|
Income tax expense |
|
(8 |
) |
|
(8 |
) |
Change in fair value of common stock warrant and option liabilities |
|
2,384 |
|
|
(1,474 |
) |
Other segment items |
|
5,050 |
|
|
3,942 |
|
Net loss from continuing operations |
$ |
(2,339 |
) |
$ |
(4,317 |
) |
Other segment items consist of research and development expenses, gain on sale of intangible assets, gain on sale of property and equipment, credit losses, other income.
Geographic Data
Revenues based on the location of the customers, are as follows (in thousands):
|
Year Ended December 31, |
|
||||
|
2025 |
|
2024 |
|
||
United States |
$ |
4,858 |
|
$ |
4,903 |
|
Argentina |
|
— |
|
|
26 |
|
India |
|
— |
|
|
7 |
|
Canada |
|
— |
|
|
109 |
|
Total |
$ |
4,858 |
|
$ |
5,045 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 26, 2026 | Showing above |
| 2024 | Mar 25, 2025 | |
| 2023 | Mar 28, 2024 | |
| 2022 | Mar 30, 2023 | |
| 2021 | Mar 31, 2022 | |
| 2020 | Mar 31, 2021 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.