Debt And Cash PositionLifecore’s balance sheet at its most recent quarter-end included approximately $183.7 million in debt, $42.6 million in convertible preferred stock, and around $8.5 million in cash.
Financial PerformanceSignificant balance sheet leverage and a forecast of flat revenue and adjusted EBITDA, along with another year of negative free cash flow, prevent a premium valuation.
Revenue DeclineThe company's CDMO revenue declined primarily due to a key customer's current inventory rebalancing activities.