Arcadia Biosciences, Inc. (NASDAQ: RKDA)

Arcadia leverages its science-based expertise to develop high-value consumer products and agricultural traits. The company’s primary operation centers on the Zola coconut water brand, which it sources from Thailand where coconuts are grown, harvested, and packaged at origin. Zola delivers a pure, natural coconut water with a crisp, clean taste that is slightly sweet and refreshingly hydrating, is Naturally rich in electrolytes, Non-GMO Project Verified, and contains only 60 calories per serving. Available in original, original with pulp, espresso, and pineapple flavors, Zola is sold through grocery retailers and foodservice distributors across the United States. Prior to its focus on beverages, Arcadia developed wheat-based products that were commercialized through the sale of food products, trait licensing, and royalty agreements.

Arcadia generates revenue principally from the sale of Zola coconut water through U. S. grocery retailers and foodservice distributors. The company also receives proceeds from occasional asset divestitures, including the $4.0 million cash consideration for the sale of its non-GMO resistant starch wheat trait to Corteva Agriscience and the $3.7 million net consideration for the transfer of the GoodWheat™ brand to Above Food. Additionally, Arcadia earned a $750,000 upfront payment under its agreement with Bioceres Crop Solutions Corp. for the transfer of soy trait rights and associated patent materials. While historical wheat trait licensing produced royalty income, the dispositions of its wheat assets mean the company no longer expects future license or royalty fees from that portfolio. These diverse sources collectively support the company’s cash flow and enable continued investment in the Zola brand.

Within the highly competitive beverage market, Arcadia competes with established brands such as Vita Coco, ZICO, C20, and Harmless Harvest for shelf space, consumer loyalty, and distribution reach. Its competitive advantages stem from the Non-GMO Project Verified status of Zola, its low-calorie profile, and the variety of flavors including original, pulp, espresso, and pineapple. The company’s intellectual property base consists of 24 issued patents and two pending patent applications worldwide, along with five registered trademarks in the United States as of year-end 2025. Although the patent portfolio has been reduced through recent divestitures, it still underpins innovation capacity and provides a defensive position against competitors. Arcadia’s lean workforce of eight employees and its Dallas, Texas headquarters allow it to operate efficiently while focusing on brand expansion and market penetration.

Arcadia serves U. S. grocery retailers and foodservice distributors that stock Zola coconut water for consumer purchase. The customer base includes major supermarket chains, natural foods stores, and nationwide foodservice providers that distribute the product to institutional and retail outlets. While the filing does not disclose specific partner names, the breadth of distribution channels indicates a wide-reaching presence across the United States. This distribution network enables Arcadia to reach health-conscious consumers seeking a natural, electrolyte-rich beverage option.