A foam article, such as a cushioning element for an article of footwear, apparel or sporting equipment is provided that comprises a foam component, such as a midsole, having a number of beneficial physical characteristics. The cushioning element is a low-density foamed component with a surface skin that encases the remaining foam volume. The cushioning element has a number of foam volumes, arranged to achieve a more consistent foam component. Additionally, the cushioning element includes a series of concentric ridges extending radially outwardly from injection gate vestige locations, and a number of striation bands near the perimeter of the cushioning element. The location of the gate vestiges can be beneficially arranged to produce intersecting flow boundaries that are located away from key strain areas of the cushioning element. The cushioning element is more environmentally-friendly, requiring less energy to produce while still providing acceptable energy return and low density.