Quarterly ResultMay 15, 2026, 07:57 AM
Local Bounti Q1 Net Loss Narrows to $(12.7)M; Sales Up 14.9%
AI Summary
Local Bounti Corporation reported a significant reduction in net loss for Q1 2026, narrowing to $(12.7) million from $(37.7) million in Q1 2025, with basic and diluted net loss per share improving to $(0.53) from $(4.32). Sales increased by 14.9% to $13.3 million. The company also secured a new $15.0 million convertible note and warrants in March 2026 to support its operations and growth strategy, while acknowledging ongoing liquidity challenges and a significant accumulated deficit of $530.3 million.
Key Highlights
- Net loss significantly narrowed to $(12.7) million in Q1 2026 from $(37.7) million in Q1 2025.
- Basic and diluted net loss per share improved to $(0.53) in Q1 2026 from $(4.32) in Q1 2025.
- Sales increased by 14.9% to $13.3 million for the three months ended March 31, 2026.
- Gross profit rose to $1.5 million in Q1 2026, up from $1.46 million in Q1 2025.
- Issued a new $15.0 million convertible note and warrants to U.S. Bounti, LLC in March 2026.
- Cash and cash equivalents increased to $12.3 million as of March 31, 2026, from $4.2 million at year-end 2025.
- Accumulated deficit reached $530.3 million as of March 31, 2026, indicating ongoing liquidity needs.
- Long-term debt principal increased to $328.0 million as of March 31, 2026.
Price Impact
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