Thu, May 15, 9:17 PM (60 days ago)
**Local Bounti Corporation (LOCL) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $11.6 million (up 38% YoY from $8.4 million). - **Gross Profit:** $1.5 million (up 86% YoY from $0.8 million). - **Net Loss:** $37.7 million (up 57% YoY from $24.1 million). - **Cash Flow:** Negative $9.6 million (operating), $5.0 million (investing), $35.5 million (financing). **Profit Margins:** - **Gross Margin:** 12.6% (up from 9.4% YoY). - **Operating Margin:** -134.8% (worsened from -123.1% YoY). **Cash Flow & Earnings Changes:** - **Operating Cash Flow:** Negative $9.6 million (worse than -$7.1 million YoY). - **Investing Cash Flow:** Negative $5.0 million (improved from -$35.0 million YoY). - **Financing Cash Flow:** Positive $35.5 million (down from $39.9 million YoY). **Quarterly Performance Discussion:** - **Revenue Growth:** Driven by increased production and sales from new and existing facilities. - **Cost Increases:** Higher costs of goods sold, R&D, and G&A due to facility expansions and increased operational scale. - **Debt Restructuring:** Amended Senior Credit Agreement with Cargill Financial, reducing principal and interest rates, but increasing future cash interest payments. - **Equity Financing:** Raised $24.5 million through PIPE investment, issuing common and Series A Preferred Stock. **Trends & Uncertainties:** - **Positive Trends:** Revenue growth, improved gross margins, and successful debt restructuring. - **Uncertainties:** High operating losses, significant capital expenditures, and dependence on equity and debt financing. - **Future Operations Impact:** Continued facility expansions, product development, and market penetration efforts. **Future Outlook:** - **Growth Strategy:** Expand production capacity, enter new markets, and diversify product offerings. - **Financial Challenges:** Manage high operating losses, secure additional financing, and comply with debt covenants. - **Market Risks:** Competitive market, regulatory changes, and economic uncertainties.