Local Bounti reports Q2 EPS ($1.63) vs. ($3.00) last year

Reports Q2 revenue $12.1M vs. $9.4M last year. The Company ended the quarter with cash and cash equivalents and restricted cash of $13.2M as of June 30. Kathleen Valiasek, President, CEO and CFO of Local Bounti (LOCL), stated, “Our team continues to execute with discipline on cost management, delivering approximately $7M in annualized expense reductions across operating expenses and cost of goods sold in the first half of 2025, plus an additional $2.5M-$3M of annualized savings measures to be actioned in the second half of 2025, with more to come in 2026. Local Bounti has made remarkable progress towards building a sustainable financial model, driven by our patented Stack & Flow Technology that delivers superior unit economics at scale. We’ve gained critical insights from our retail partners that are helping to optimize our commercial approach, and we continue to expect significant revenue growth in the second half of 2025 with sequential improvements accelerating in the fourth quarter as we realize a greater benefit from both the Texas and Washington facilities. While our team’s execution remains strong, our path to profitability is inherently tied to our retail partners as we scale alongside their product rollout and store reset timelines. We are building the foundation for a high-growth, high-margin business by expanding door counts with new and existing customers and reliably serving them with safer, healthier, more sustainable products that consumers enjoy. We believe this strategic alignment could position us to achieve positive adjusted EBITDA in early 2026.”