Lifecore Biomedical, Inc.
7.06+0.16 (+2.32%)
Oct 29, 4:00:02 PM EDT · NasdaqGS · LFCR · USD
Key Stats
Market Cap
264.51MP/E (TTM)
-Basic EPS (TTM)
-1.27Dividend Yield
0%Recent Filings
8-K
Lifecore approves transition bonus plan
Lifecore Biomedical approved a CY 2025 Transition Period Bonus Plan on September 22, 2025, covering May 26 to December 31, to align with its shift to a calendar-year fiscal structure. The plan ties executive bonuses—100% of base for CEO Paul Josephs, 60% for CFO Ryan Lake, and 50% for Chief Legal Officer Thomas Salus—to 80% financial goals like Adjusted EBITDA and revenue, with no payouts unless minimum EBITDA hits. Yet executives must stay employed through year-end to collect. This setup incentivizes performance amid the fiscal tweak, but clawback policies loom.
8-K
Auditor switch amid control weaknesses
Lifecore Biomedical dismissed BDO as its auditor and appointed KPMG on August 12, 2025, for the transition period ending December 31, 2025. BDO's reports flagged ongoing material weaknesses in internal controls over financial reporting, tied to COSO components like risk assessment and monitoring, stemming from non-standard transactions and business changes. The switch aims to address these issues. Weaknesses persist.
8-K
Lifecore's growth strategy unveiled
Lifecore Biomedical unveiled an investor presentation on August 12, 2025, outlining its aggressive growth strategy as a CDMO leader in injectables, targeting 12%+ revenue CAGR and 25%+ Adjusted EBITDA margins mid-term amid a market doubling by 2030. Fiscal 2025 delivered $128.9M revenues and $19.5M Adjusted EBITDA, with seven-month transition guidance of $74M-$76M revenues and $12M-$14M Adjusted EBITDA, fueled by pipeline commercialization and new business. Capacity now supports ~$300M annual revenue potential. Yet risks like regulatory hurdles loom large.
8-K
Lifecore hits revenue target, guides transition
Lifecore Biomedical reported fiscal 2025 revenue of $128.9 million, up slightly from $128.3 million, driven by higher HA manufacturing demand from its largest customer, while CDMO revenues dipped due to completed projects. The company signed nine new programs with fresh customers, expanding beyond ophthalmics, and cut SG&A expenses through restructuring, boosting efficiency. Yet net loss widened to $38.7 million amid higher interest and asset disposal charges. For the seven-month transition to calendar-year reporting, revenue guidance sits at $74-76 million, with Adjusted EBITDA of $12-14 million.
10-K
FY2025 results
Lifecore Biomedical's FY2025 revenue held steady at $128.9 million, flat year-over-year, with HA manufacturing surging 23% to $38.8 million on stronger customer demand while CDMO dipped 7% to $90.1 million due to completed development projects and inventory drawdowns. Q4 showed sequential improvement in HA volumes, boosting gross margins to 31.3% amid pricing gains, yet operating losses widened to $17.2 million from $6.0 million in asset disposals and legal costs. Net loss hit $38.7 million, pressured by $21.8 million interest expense on $176 million debt, including Alcon's term loan at 10% PIK. Liquidity stood at $35.6 million with $27.3 million revolver availability; no dividends or buybacks, but $17 million equipment sale aided cash. No FY2026 guidance disclosed. Customer concentration risks persist, with Alcon at 44% of revenue.
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