Quarterly ResultMay 6, 2026, 07:07 AM
Lifecore Q1 Revenue Down 34% to $23.2M; Reaffirms 2026 Guidance
AI Summary
Lifecore Biomedical announced its first quarter 2026 results, reporting a significant 34% year-over-year decrease in revenues to $23.2 million and an increased net loss of $15.0 million. Despite the financial decline, the company reaffirmed its full-year 2026 guidance for both revenue and Adjusted EBITDA, citing continued execution of its growth strategy and ongoing cost containment initiatives. Lifecore also highlighted the signing of three new commercial site transfer programs and the successful launch of a new ERP system.
Key Highlights
- Revenues for Q1 2026 were $23.2 million, a 34% decrease YoY.
- Net loss for Q1 2026 was $15.0 million, or $0.43 per diluted share.
- Adjusted EBITDA for Q1 2026 was $1.0 million, down from $5.7 million YoY.
- Cash from operations was $4.7 million and free cash flow was $3.6 million.
- Signed three new commercial site transfer programs in Q1 2026.
- Reaffirmed 2026 revenue guidance of $120 to $125 million.
- Reaffirmed 2026 Adjusted EBITDA guidance of $20.5 to $25 million.
- Operating expenses decreased by 52% to $9.1 million due to cost containment.