Local Bounti Corp (NYSE: LOCL) is a controlled environment agriculture (CEA) company that grows living and loose leaf lettuce using a patented hybrid vertical-and-greenhouse process called Stack & Flow Technology. Revenue is generated through direct transactional sales of packaged and living produce to retail customers and distributors. Founded in 2018 and headquartered in Hamilton, Montana, the company distributes to approximately 13,000 retail locations across 35 U.S. states (as of the 10-K filed 2026-03-27), selling to retailers including Albertsons, Sam's Club, Kroger, Target, Walmart, Whole Foods, Brookshire's, and H-E-B. Sales were $48.4 million for the year ended December 31, 2025, up 27% from $38.1 million in 2024, while loss from operations was $62.6 million in FY2025. The company operates five active facilities across Montana, California, Georgia, Washington, and Texas, with the Texas facility completed in 2024 and sitting on 50 acres with 6 acres under glass. Charles R. Schwab beneficially owns approximately 60% of outstanding common stock, making Local Bounti a controlled company under NYSE rules.

Revenue model

Transactional product sales of fresh packaged and living produce, primarily living and loose leaf lettuce, sold directly to blue-chip retailers and distributors for placement across approximately 13,000 retail locations in 35 U.S. states (FY2025, per 10-K filed 2026-03-27). Gross profit was $5.9 million on $48.4 million in sales for the year ended December 31, 2025, a 43% increase year-over-year.

Products and services

Living and loose leaf lettuce grown via the patented Stack & Flow Technology, a hybrid process combining vertical farming in early plant growth stages with greenhouse farming for final grow-out. Products are non-GMO, grown with 90% less water and 90% less land than traditional outdoor agriculture. Finished goods are packaged on-site at each facility for direct retail shelf placement. As of December 31, 2025, the Pete's trade name was retired and written off, resulting in a $3.7 million impairment charge in FY2025.

Customers and end markets

Direct retail relationships with Albertsons, Sam's Club, Kroger, Target, Walmart, Whole Foods, Brookshire's, and H-E-B, distributed to approximately 13,000 retail locations across 35 U.S. states (per 10-K filed 2026-03-27). End market is fresh produce at retail grocery. Customer concentration details beyond named retailers are not disclosed in the filing excerpts.

Value-chain role

Vertically integrated CEA producer: the company controls growing, harvesting, cold storage, and on-site packaging before shipping finished goods to retail locations. Facilities are sited to optimize freight routes and support consistent retail delivery schedules. The company also holds patents and trademarks on its growing technology and brand.

Geographic exposure

Five active facilities across the Northwestern, Western, Southern, and Southeastern United States, specifically in Montana (headquarters, no active commercial operations as of filing), California (two facilities acquired via Hollandia Produce Group in 2022), Georgia (operational since July 2022, expanded 2023), Washington (completed 2024), and Texas (completed 2024). Distribution covers 35 U.S. states. Expansion into the Midwest is under review pending retailer discussions (per 10-K filed 2026-03-27).

Source: SEC 10-K, filed 2026-03-27

Industry: Agricultural Production-Crops Peers: Alico Inc AppHarvest, Inc. Archer-Daniels-Midland Co Benson Hill, Inc. CHS Inc Global Clean Energy Holdings, Inc. Golden Growers Cooperative Limoneira Co