Business
Arcadia Biosciences Announces Strong Second-Quarter and First-Half 2021 Financial Results and Business Highlights
Revenues for quarter up five-fold, year-to-date up four-fold DAVIS, Calif., Aug. 16, 2021 /PRNewswire/ -- Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a
About this update from Arcadia Biosciences, Inc.
[{"type":"text","content":"Revenues for quarter up five-fold, year-to-date up four-fold\n\n\nDAVIS, Calif., Aug. 16, 2021 /PRNewswire/ -- Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a producer and marketer of innovative, plant-based health and wellness products, today released its financial and business results for the second quarter and first half of 2021.\n\n \n \n \n \n \n \n\n \n\"In addition to being marked by five-fold revenue growth, our second quarter was the first time Arcadia recorded sales from our consumer brands, representing a key milestone in our transformation to a dynamic producer and marketer of innovative, plant-based health and wellness products,\" said Matt Plavan, CEO of Arcadia. \n\"The quarter was also highlighted by significant advancements in our strategic resource and capacity building, and the successful integration of operations following the Lief Brands acquisition,\" he added. \"We strongly believe that these initiatives, along with the profitable sale of our Bioceres shares will enable us to accelerate our current momentum and strongly position the company to achieve meaningful top-line growth.\"\nQ2 and Recent Operating and Business Highlights\nArcadia Names Veteran CPG Leader Laura Pitlik as Chief Marketing Officer. Arcadia recently named Laura Pitlik its Chief Marketing Officer to expand brand awareness of its consumer goods following several key acquisitions. A veteran CPG strategist, Pitlik launched the first national line of all-natural breads, Nature's Pride®, for Hostess Brands, and has deep expertise in the CPG industry, leading brands such as Dr Pepper®, Wonder® Bread and On The Border® tortilla chips and salsas. Arcadia Hires Lief Executives with Acquisition, Bringing Deep CPG Experience. As part of the Lief acquisition, Arcadia hired two senior CPG executives: Chris Cuvelier as Chief Growth Officer and Belinda Yao as Vice President of Operations. Cuvelier leads growth strategy and sales execution for the company's consumer goods business. As the founder and former CEO of plant-based beverage maker Zola, Cuvelier successfully extended the Zola brand to include coconut water and grew gross revenues to more than $20 million annually. Yao oversees supply chain manufacturing for the company, including demand planning, procurement and supplier relationships, order fulfillment, inventory management, logistics, customer ...