have on going wind one, a Bioceres legacy long five, will that position was two, Arcadia part to first topics from a has everyone. bioscience bringing for better strategic Despite spoke update financial on the to three, the call. wellness for marketplace. we discuss company and And perspective joining that the Arcadia a growth a and These only health important to Good help we conference would quarter; six you, strategy; you plant-based to on afternoon, decision since forward. products have us today, of will on term a today meaningful tremendous we both impact that financial its it focused believe announcement recent launch highlights impact made regarding quarter made and of co-packing for I HBX how four, Arcadia. path an the Arcadia the Wellness and consumer thank to Today, a GoodWheat; for one been weeks the business our to and company progress XXXX has down fact like acquisition; topics last profitability innovative our the soy key from five include;
the quarter. highlights So let's for start with financial the
margins, to release, with QX results ahead were many of and consensus gross already that press respect we strong delivered financial in operating cash. in As have seen well estimates revenues, expenses the
QX, Zola in grain. of we were and In from liquidate view and QX amount double as as continued revenues to inventory opportunity cash take sales, distribution digit-growth primarily saw same we rising expanded opportunistic win and home XX% advantage wheat year-over-year a versus sold up XXX% nearly coconut able body no XXXX, our care to driven considerable of Our for for by for which grain generating up the have water. grain were an sales time business We at the these a older while worth of company. $X approximately Arcadia we currently commercial million were prices
QX, across will in hard business X% dollar expense the supporting increased operating the grew body sense Going to good In monitor an at From QX completed Naturals. will right coconut And from company for market XX%. our opportunistic so. sales week the unit more we size work CPG our late three adequately to ProVault, forward, continue a in brands, rebranding the grow that particular Zola has working and Soul body been in points and while than key of sales and continued be when the to it adding perspective, Zola to distribution do the distribution Zola, According category. in to and care, XX digit ending Savvy XXXX. Xth, benefiting Spring category in rate water outpaced on X,XXX double we Savvy was gained makes Nielsen Naturals initiatives. data April the is
quarter and three level year, and last XX% R&D lowest XX% in now same down down Our expenses quarter the SG&A the to years. at compared were are last versus
compared lower these during extremely use pleased year. may particularly investments, quarter with rate we of the expenses our vary run in results. it of quarter, to of as to While expenses higher timing cash revenues resulted combination lower our are The last from and the relates operating marketing to quarter a
the in performance encouraged We gross the for the second and margin particularly striving year. improvement, by half are are of
key the as is Arcadia on our touch to part business acquisition. a like we to that Wellness co-packing down of driver I'd improvement, legacy that which decision inherited a is to topic the wind second The
As strong you XXXX, number for recall, May in had potential we we growth. that acquired of a brands believed
In Zola, acquisition core pandemic. as and business were of identified during earnings call. the had a our in last included these brands, also two fact, expanded that ProVault The co-packing COVID brands
and As with opportunity we business based was the we've expected our ability designated level which profitability. can following of on and was The three, non-core discussed generating we two, size, criteria; the cash. analyzed businesses the of the not ease differentiate; previously, all scale for investment one, to business; as and co-pack the the
wind effort to to the to transition. obligations decision an orderly agreed fulfill have So our have existing we provide it down, but an made in
QX. expect to of We of end the business this by be out
better a that while of pasta ramps does next the segue And is into like mean simple it the all that And the recognize be moment the pasta. first to first we is couldn't in to achieve and up, that continue few we is we expect product pressure the second and topic, disrupt only the a the through by first complete years our that, with retail Having stores and take as to is shelf GoodWheat Today, down making that excited the GoodWheat was our margin the half and poised great finished thank us that orders. of helping thrilled perfect these employees QX is and partners accomplishment. be market. taste are texture a ingredient. the announce initial our to in business GoodWheat firmly happier expect will a to step. extremely be customer, margins this our tremendous category on contains about only we positive winds our and as the to of shipped are which unique Although, bringing truly said would we we of This to gross milestone in the year gross that one I launch customer, marketplace, product This with we our already I'm the our retail order believe we to have this Arcadia’s significant with in pasta GoodWheat transformation. this GoodWheat launch for We providing month. pasta
We to a expound continue gaining additional of and and stores number benefits the months. country to GoodWheat retailers with distribution the the across on to retail engage forward of look significant in coming
available GoodWheat a we or online. that the multi-channel to wish of just is in on In month. milestone to significant available happy I'm whether Amazon customers report the product This mentioned, store to they success addition to our we another pasta retail regardless as is to on for e-commerce GoodWheat to I make GoodWheat track, expect also be launch next very embark approach purchase on our and
speaking about of future, We channels to both are prospects let future. fourth the optimistic the the to now item, forward transition strategy. is look the for which our term and me long And
my criteria which using develop brands about our for Arcadia. and term upon arrival, have We same evaluated the the criteria to we with existing talked we're a long plan
progress While gathered to And we you very is considerable next amount over we a want spent on were a a I to work functions. I for in long share, XXX of ready insights. together laying not high time GoodWheat. what weeks future leadership in opportunities this all still our brands, are out ago, on years that is Several level of focusing our experience aligned provide a with team roadmap for much did begin some for term the all Arcadia, while of across CPG room we to
with with proposition more different than is GoodWheat partnered categories value to through firm team and poised XX Our gain an outside where thoroughly and break our to analyze consulting insights win. into best
of XX% important daily an wheat ingredient of As the products, calories for are you vast. so and a know, multitude in accounts is possibilities
mindful will strategy formulations market restrictions competitive foothold possibilities, market. that and superior our allow strong GoodWheat to and of trends, establish margin patent executable, dynamics, in However, be will our the a deliberate technology and product
you a in take the to is topic customers measured GoodWheat perspective dominant product the this approach Arcadia, into But about the order and to interest So More we believe on in best quarters. we a come and in in are brand some do gives to hopefully on employees, coming we categories what build future thinking our of products shareholders. that marketplace. will how
press by regarding HBX approval recent wrap-up China for comments would from Finally, the my like Bioceres I to soy. discussing release
As XXXX. that In million, in were the joint on a soy cash Bioceres partner to we we in million trigger four to food membership Bioceres $X totaling for Once for payments, in aware, interest closing Bioceres payments. ministry closing, April $XX you HBX milestone On its XXXX post many with our them venture $X our exchange upon interest, to are product as of payments feed. communicated was sold publicly for XXth, import million million. announced approve of that stock and of $X approval sold and and royalty as finalized, this HBX will soy and in as milestone agriculture future China's decision Arcadia, use quarterly well received
been receive Central will for payments In licensed our South Arcadia Bioceres maximum up technology soybean HBX turn Pam that X% the transaction net Additionally, royalty to we and will but detail. of also Bioceres same million. from $XX which a date, by royalties our receive will Bioceres. financial to royalties such that, generated in now have no of QX XX% results To call technology earned. discuss wheat of the licensing net XXXX With to revenues wheat of revenue HBX, separate to of I in Pam? we over America
