Local Bounti Corporation
2.7100-0.23 (-7.72%)
Oct 29, 3:59:26 PM EDT · NYSE · LOCL · USD
Key Stats
Market Cap
59.95MP/E (TTM)
-Basic EPS (TTM)
-13.65Dividend Yield
0%Recent Filings
8-K
Stockholders approve share issuances
Local Bounti Corporation's stockholders overwhelmingly approved the issuance of up to 5,131,871 common shares upon conversion of a convertible note and 550,000 shares underlying a warrant, both issued to U.S. Bounti under an August 1, 2025 purchase agreement, ensuring NYSE compliance. With 74.2% quorum at the October 14, 2025 special meeting, 16.4 million votes favored the proposal against just 17,872 opposed. This clears the path for the conversion.
10-Q
Q2 FY2025 results
Local Bounti posted solid sales growth in Q2 FY2025 ended June 30, 2025, with revenue up 28% y/y to $12.1M from expanded production at Georgia, Texas, and Washington facilities, while gross profit edged 9% higher to $1.5M amid ramp-up costs. Yet operating losses widened 11% y/y to $15.5M, driven by 44% higher R&D spending on Stack & Flow refinements, though net losses narrowed 15% y/y to $21.6M thanks to lower interest from the March debt restructuring that slashed principal to $312M. Diluted EPS improved to $(1.63) on 13.3M weighted shares, reconciling cleanly without anti-dilution flags. Cash climbed to $13.2M including restricted, with free cash flow negative at $(29.2M) (derived) from $18.3M operating burn minus $10.9M capex; the $25M PIPE closed March 31, 2025, funded general purposes after Series A conversion. Post-quarter, an August $10M convertible note from U.S. Bounti cut debt to $302M. Concentrated ownership by U.S. Bounti, at 55% voting power, could sideline minority voices on big calls.
8-K
28% revenue growth, cost cuts
Local Bounti reported Q2 2025 revenue of $12.1 million, up 28% year-over-year, fueled by expanded operations in Georgia, Texas, and Washington facilities. The company slashed annualized expenses by $7 million in the first half, with $2.5 to $3 million more planned for the second half, while closing a $10 million convertible note that reduced principal debt by $10 million. Adjusted EBITDA loss narrowed to $6.5 million. Positive adjusted EBITDA now eyed for early 2026. Retail timelines pose risks.
8-K
$10M note, $10M debt cut
Local Bounti Corporation secured $10 million in financing on August 1, 2025, via a convertible note to U.S. Bounti, LLC, bearing 6.0% PIK interest and convertible at $2.50 per share, alongside a warrant for 550,000 shares at $0.125 each. In tandem, it amended its senior credit agreement with Cargill Financial, slashing $10 million from the $312 million principal to $302 million, bolstering liquidity for working capital and targeted capital expenditures. This dual move strengthens the balance sheet amid ongoing operations. Debt remains subordinated to senior obligations.
8-K
Preferred stock converts; plan expanded
Local Bounti Corporation's stockholders approved key measures at the June 11, 2025, annual meeting, including the election of three Class I directors and ratification of WithumSmith+Brown, PC as auditors for 2025. Critically, they greenlit an amendment adding 2,473,042 shares to the 2021 Equity Incentive Plan, boosting the total pool to 3,912,422 shares. That same day, all 10,728,414 shares of Series A preferred stock converted automatically into common stock, lifting outstanding common shares to 21,709,496. This simplifies the capital structure while enhancing equity incentive flexibility.
AGRI
AgriFORCE Growing Systems Ltd.
3.25+0.08
AQB
AquaBounty Technologies, Inc.
1.32-0.14
DOLE
Dole plc
12.68-0.30
EDBL
Edible Garden AG Incorporated
1.64+0.02
ESGH
ESG Inc.
5.52+0.25
FDP
Fresh Del Monte Produce, Inc.
34.31-0.05
LBUY
Leafbuyer Technologies, Inc.
0.02-0.00
PFAI
Pinnacle Food Group Limited
2.80-0.02
SFM
Sprouts Farmers Market, Inc.
104.55-2.25
VITL
Vital Farms, Inc.
34.89+0.01