Local Bounti Corp

localbounti.com

What Do They Do?

Grows and sells living and loose-leaf lettuce, salad kits, arugula, cress, and other fresh produce to retail grocers and foodservice customers.

How Do They Make Money?

Retail customers pay agreed prices for fresh produce. Payment is generally due 10 to 30 days after the products leave the company’s facilities with the first carrier.

FY2025 revenue

Who Are Their Customers?

The company sells through retail grocers, primarily through direct relationships; it also serves club and foodservice channels.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2024: 34% from one customer

Do Revenues Turn Into Profits?

No. It lost $94.4M in FY2025.

Operating income, FY2025

−129% of revenue

▲ +6% (Loss) vs FY2024 (−$59M, −155%)

Net income, FY2025

−195% of revenue

▼ −21% (Loss) vs FY2024 (−$119.9M, −314%)

Free cash flow, FY2025

−87% of revenue

▼ −62% (Loss) vs FY2024 (−$109.5M, −287%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +14%; vs $12.1M in Q2 FY2025
Net income: ▼ −8% (Loss); vs −$21.6M in Q2 FY2025

Jun 18, 2026 Chairman Craig Hurlbert resigned and Travis Joyner became chairman Hurlbert remained a company employee after leaving the chair and board.

Growing. Revenue grew 75.8x in 4 years, from $638K in FY2021 to $48.4M in FY2025, about 195% a year.

More product lines The latest report includes salad kits among the company's main offerings, while the older report focused on living and loose-leaf lettuce and described packaged salad and cress.

Broader customer geography The older report described retail distribution in the United States and Canadian provinces; the latest report describes distribution across U.S. states.

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