Local Bounti Corporation ( (LOCL) ) has released its Q1 earnings. Here is a breakdown of the information Local Bounti Corporation presented to its investors.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Local Bounti Corporation, a U.S.-based indoor agriculture company, is known for its innovative approach to farming using its patented Stack & Flow Technology®, which enhances crop yields and sustainability. The company operates advanced indoor growing facilities across the United States, providing fresh produce to approximately 13,000 retail locations.
In its first quarter of 2025, Local Bounti reported a year-over-year revenue growth of 38%, reaching $11.6 million. The company reaffirmed its strategy to achieve positive adjusted EBITDA by the third quarter of 2025 through expanded distribution, yield improvements, and disciplined cost management.
Key financial highlights include a gross profit of $1.5 million and an adjusted gross margin of 29%. Despite a net loss of $37.7 million, attributed mainly to increased interest expenses, the company made significant strides in expanding its distribution network and product offerings, including new partnerships with major retailers like Walmart and HEB.
Local Bounti’s strategic initiatives include reconfiguring its Texas facility to meet evolving customer demands and expanding its product line with new salad kits and distribution agreements. The company also secured a $25 million equity investment and restructured its debt, aiming to reduce costs and improve cash flow.
Looking ahead, Local Bounti anticipates continued sales growth in the second half of 2025, driven by operational improvements and new product introductions. The company remains focused on scaling its business profitably to meet the increasing demand for its controlled environment agriculture products.