| Metric | Value ($ M) |
|---|---|
| Revenue | 23.19 |
| Total Income | 23.19 |
| Expenditure | 27.87 |
| PBT | -14.94 |
| Net Profit | -14.98 |
| OPM | -20.14% |
| NPM | -64.59% |
| EPS | -0.43 |
Lifecore Biomedical Reports Q2 2026 Financial Results and Provides Corporate Update
05 Aug 2026 · 5 Aug, 4:52 pm
Summary
Lifecore Biomedical announced its financial results for the second quarter and six months ended June 30, 2026. Total revenues for the second quarter were $34.2 million, a decrease of 6.2% year-over-year, and for the six-month period, revenues were $57.4 million, down 19.9%. The company reported a net loss of $6.2 million for the quarter. Despite the revenue decline, Lifecore signed six new programs in Q2, including two commercial-stage ones, and reaffirmed its 2026 financial guidance. Management highlighted the effectiveness of their new business development strategy and progress in transitioning the development pipeline toward commercialization.
Key Highlights
- 1
Lifecore Biomedical reported revenues of $34.2 million for the second quarter of 2026, a decrease of 6.2% compared to $36.4 million in the prior year quarter.
- 2
For the six months ended June 30, 2026, revenues were $57.4 million, a decrease of 19.9% compared to $71.6 million in the comparable prior year period.
- 3
Gross profit for the second quarter of 2026 was $12.1 million, down from $14.0 million in the prior year quarter.
- 4
The company reported a net loss of $6.2 million for the second quarter of 2026, or a loss of $0.19 per diluted share, compared to a net loss of $1.1 million, or $0.06 per diluted share, in the prior year quarter.
- 5
Adjusted EBITDA for the second quarter of 2026 was $8.6 million, a decrease of $0.5 million compared to $9.1 million in the comparable prior year quarter.
- 6
Lifecore signed six new programs in the second quarter of 2026, including two commercial-stage programs, and has added 13 new programs to its pipeline over the last 12 months, eight of which are late stage.
- 7
The company reaffirmed its 2026 guidance, expecting revenues between $120 million and $125 million and Adjusted EBITDA between $20.5 million and $25 million.
Management Comments
Paul Josephs
The second quarter was highly productive. The effectiveness of our new business development strategy has helped us grow the value of our pipeline with consistent wins that point to our manufacturing expertise as well as our exceptional track record in quality and compliance. In addition, Lifecore continues to transition our development pipeline toward commercialization and invest in the talent, processes, and improvements that we believe will support our growing pipeline in the mid-term and allow us to achieve sustainable, long-term profitability in the future. In the past 12 months, we have added 13 new programs to our pipeline, eight of which are late stage. We expect these programs and their financial contributions to play a significant role in Lifecore’s success in achieving our long-term growth objectives of a 12% revenue CAGR and Adjusted EBITDA margin targets exceeding 25% by the end of 2029.
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