2022 Q3 Form 10-Q Financial Statement
#000162828022022865 Filed on August 15, 2022
Income Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
Revenue | $6.285M | $6.269M | $282.0K |
YoY Change | 1839.81% | 5704.63% | 394.74% |
Cost Of Revenue | $5.015M | $6.281M | $234.0K |
YoY Change | 1914.06% | 7654.32% | 420.0% |
Gross Profit | $1.270M | -$12.00K | $48.00K |
YoY Change | 1593.33% | -144.44% | 300.0% |
Gross Profit Margin | 20.21% | -0.19% | 17.02% |
Selling, General & Admin | $20.24M | $23.14M | $22.26M |
YoY Change | 30.63% | 681.26% | 168.37% |
% of Gross Profit | 1593.62% | 46372.92% | |
Research & Development | $3.019M | $3.073M | $1.948M |
YoY Change | 34.48% | 325.03% | 350.93% |
% of Gross Profit | 237.72% | 4058.33% | |
Depreciation & Amortization | $2.907M | $3.381M | $541.0K |
YoY Change | 1947.18% | 2626.61% | 336.29% |
% of Gross Profit | 228.9% | 1127.08% | |
Operating Expenses | $23.26M | $26.21M | $24.21M |
YoY Change | 28.28% | 611.37% | 177.41% |
Operating Profit | -$21.99M | -$26.23M | -$24.16M |
YoY Change | 21.78% | 616.95% | 177.24% |
Interest Expense | -$5.154M | -$5.465M | -$1.643M |
YoY Change | 57.76% | 330.99% | 300.73% |
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | $0.00 | $30.00K |
YoY Change | -100.0% | -100.0% | -110.71% |
Pretax Income | -$27.10M | -$31.66M | -$25.77M |
YoY Change | -2.58% | 317.17% | 174.17% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$27.10M | -$31.66M | -$25.77M |
YoY Change | -2.58% | 317.17% | 174.23% |
Net Earnings / Revenue | -431.25% | -505.07% | -9139.01% |
Basic Earnings Per Share | -$0.30 | -$0.36 | -$0.32 |
Diluted Earnings Per Share | -$0.30 | -$0.36 | -$0.32 |
COMMON SHARES | |||
Basic Shares Outstanding | 94.21M shares | 88.61M shares | 81.01M shares |
Diluted Shares Outstanding | 89.25M shares | 88.61M shares | 81.01M shares |
Balance Sheet
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $4.227M | $22.70M | $71.97M |
YoY Change | -59.26% | ||
Cash & Equivalents | $4.227M | $22.70M | $71.97M |
Short-Term Investments | |||
Other Short-Term Assets | $23.06M | $22.15M | $8.000M |
YoY Change | 134.34% | ||
Inventory | $3.777M | $3.106M | $1.263M |
Prepaid Expenses | |||
Receivables | $2.221M | $2.248M | $73.00K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $33.28M | $50.21M | $81.31M |
YoY Change | 58.84% | 4254.68% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $140.4M | $123.6M | $43.99M |
YoY Change | 531.58% | ||
Goodwill | $38.48M | $36.60M | |
YoY Change | |||
Intangibles | $48.95M | $52.92M | |
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $903.0K | $906.0K | $905.0K |
YoY Change | 113.48% | ||
Total Long-Term Assets | $228.8M | $214.2M | $45.17M |
YoY Change | 910.5% | -83.61% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $33.28M | $50.21M | $81.31M |
Total Long-Term Assets | $228.8M | $214.2M | $45.17M |
Total Assets | $262.1M | $264.4M | $126.5M |
YoY Change | 501.21% | -54.43% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $8.099M | $5.167M | $7.431M |
YoY Change | 337.78% | 22445.51% | |
Accrued Expenses | $6.712M | $4.289M | $6.721M |
YoY Change | 6.93% | 7387.16% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $14.87M | $9.527M | $14.29M |
YoY Change | 83.02% | 1911.82% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $113.6M | $105.2M | $11.11M |
YoY Change | 90.9% | ||
Other Long-Term Liabilities | $84.00K | $94.00K | $145.0K |
YoY Change | -94.11% | ||
Total Long-Term Liabilities | $113.6M | $105.2M | $11.11M |
YoY Change | 86.44% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $14.87M | $9.527M | $14.29M |
Total Long-Term Liabilities | $113.6M | $105.2M | $11.11M |
Total Liabilities | $142.8M | $129.0M | $39.53M |
YoY Change | 106.78% | 102.82% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$152.8M | -$125.7M | -$94.01M |
YoY Change | 28519.44% | ||
Common Stock | $9.000K | $9.000K | $9.000K |
YoY Change | -99.83% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $119.3M | $135.4M | $86.95M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $262.1M | $264.4M | $126.5M |
YoY Change | 501.21% | -54.43% |
Cashflow Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$27.10M | -$31.66M | -$25.77M |
YoY Change | -2.58% | 317.17% | 174.23% |
Depreciation, Depletion And Amortization | $2.907M | $3.381M | $541.0K |
YoY Change | 1947.18% | 2626.61% | 336.29% |
Cash From Operating Activities | -$10.27M | -$16.85M | -$10.09M |
YoY Change | 35.86% | 118.32% | 212.91% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$15.40M | -$36.61M | $14.67M |
YoY Change | 152.15% | 352.66% | 1271.31% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $841.0K | -$91.39M | |
YoY Change | |||
Cash From Investing Activities | -$14.56M | -$128.0M | -$14.67M |
YoY Change | 138.37% | 1482.79% | 1271.31% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 7.521M | 109.8M | $71.00K |
YoY Change | 41.53% | 182.09% | -99.67% |
NET CHANGE | |||
Cash From Operating Activities | -10.27M | -16.85M | -$10.09M |
Cash From Investing Activities | -14.56M | -128.0M | -$14.67M |
Cash From Financing Activities | 7.521M | 109.8M | $71.00K |
Net Change In Cash | -17.31M | -35.10M | -$24.69M |
YoY Change | 107.2% | -251.97% | -242.61% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$10.27M | -$16.85M | -$10.09M |
Capital Expenditures | -$15.40M | -$36.61M | $14.67M |
Free Cash Flow | $5.125M | $19.75M | -$24.76M |
YoY Change | -452.48% | 5282.29% | 476.71% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Entity Registrant Name
EntityRegistrantName
|
Local Bounti Corporation/DE | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2022 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001840780 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
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Document Quarterly Report
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true | ||
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Document Period End Date
DocumentPeriodEndDate
|
2022-06-30 | ||
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Document Transition Report
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Entity Incorporation State Country Code
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DE | ||
dei |
Entity File Number
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001-40125 | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
98-1584830 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
400 W. Main St. | ||
dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Hamilton | ||
dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
MT | ||
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Entity Address Postal Zip Code
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59840 | ||
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800 | ||
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640-4016 | ||
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Yes | ||
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Fair Value Adjustment Of Convertible Notes
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Fair Value Adjustment Of Convertible Notes
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Fair Value Adjustment Of Convertible Notes
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Earnings Per Share Diluted
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Earnings Per Share Diluted
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CY2021Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.15 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.68 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.68 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.35 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.35 | ||
CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
88607316 | shares |
CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
88607316 | shares |
CY2021Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
49131555 | shares |
CY2021Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
49131555 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
84830885 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
84830885 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
49131555 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
49131555 | shares | |
CY2022Q2 | locl |
Business Combination Acquired Inventory Fair Value
BusinessCombinationAcquiredInventoryFairValue
|
1042000 | usd |
CY2021Q2 | locl |
Business Combination Acquired Inventory Fair Value
BusinessCombinationAcquiredInventoryFairValue
|
0 | usd |
CY2021Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
0 | usd |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
22709000 | usd | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4942000 | usd | |
CY2022Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
3381000 | usd |
CY2021Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
124000 | usd |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
3922000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
250000 | usd | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
101683000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
11042000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-25772000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
86953000 | usd |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
50948000 | usd |
CY2022Q2 | locl |
Stock Issued During Period Value Debt Modification
StockIssuedDuringPeriodValueDebtModification
|
17416000 | usd |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
11783000 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-31663000 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
135437000 | usd |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9398000 | usd |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-7027000 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2571000 | usd |
CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
4942000 | usd |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7590000 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-14617000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-57435000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-16988000 | usd | |
us-gaap |
Depreciation
Depreciation
|
1826000 | usd | |
us-gaap |
Depreciation
Depreciation
|
250000 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
2096000 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
0 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
22709000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4942000 | usd | |
us-gaap |
Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
|
7000 | usd | |
us-gaap |
Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
|
-8000 | usd | |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
378000 | usd | |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
0 | usd | |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
8000 | usd | |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-280000 | usd | |
locl |
Fair Value Adjustment Of Convertible Notes
FairValueAdjustmentOfConvertibleNotes
|
0 | usd | |
locl |
Fair Value Adjustment Of Convertible Notes
FairValueAdjustmentOfConvertibleNotes
|
2984000 | usd | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
0 | usd | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
3000 | usd | |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
1858000 | usd | |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
429000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
92000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
28000 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-618000 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
176000 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-714000 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
3294000 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-2324000 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-11000 | usd | |
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
26000000 | usd | |
locl |
Proceeds From Financing Obligations
ProceedsFromFinancingObligations
|
282000 | usd | |
locl |
Proceeds From Financing Obligations
ProceedsFromFinancingObligations
|
3210000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2318000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
881000 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
5000 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
0 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-4545000 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
3266000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-26939000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-7720000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
25467000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
8087000 | usd | |
us-gaap |
Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
|
25813000 | usd | |
us-gaap |
Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
|
0 | usd | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
91393000 | usd | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
0 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-142673000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-8087000 | usd | |
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
0 | usd | |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
45000 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
41286000 | usd |
CY2022Q2 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
18583000 | usd |
CY2021Q2 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
0 | usd |
us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
111881000 | usd | |
us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
10500000 | usd | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
2342000 | usd | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
150000 | usd | |
us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
0 | usd | |
us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
654000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
109821000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
38906000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-59791000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
23099000 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
101077000 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
23144000 | usd |
CY2022Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
22703000 | usd |
CY2021Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
23144000 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
41286000 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
23144000 | usd |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
388000 | usd | |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
0 | usd | |
locl |
Reduction Of Right Of Use Asset Due To Lease Cancellation
ReductionOfRightOfUseAssetDueToLeaseCancellation
|
-203000 | usd | |
locl |
Reduction Of Right Of Use Asset Due To Lease Cancellation
ReductionOfRightOfUseAssetDueToLeaseCancellation
|
0 | usd | |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
10039000 | usd | |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
0 | usd | |
locl |
Stock Based Compensation Capitalized To Property And Equipment Net
StockBasedCompensationCapitalizedToPropertyAndEquipmentNet
|
116000 | usd | |
locl |
Stock Based Compensation Capitalized To Property And Equipment Net
StockBasedCompensationCapitalizedToPropertyAndEquipmentNet
|
0 | usd | |
locl |
Non Cash Financing Obligation Activity
NonCashFinancingObligationActivity
|
840000 | usd | |
locl |
Non Cash Financing Obligation Activity
NonCashFinancingObligationActivity
|
0 | usd | |
locl |
Stock Issued During Period Value Debt Modification
StockIssuedDuringPeriodValueDebtModification
|
17416000 | usd | |
locl |
Stock Issued During Period Value Debt Modification
StockIssuedDuringPeriodValueDebtModification
|
0 | usd | |
us-gaap |
Notes Issued1
NotesIssued1
|
0 | usd | |
us-gaap |
Notes Issued1
NotesIssued1
|
50000 | usd | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Change in Accounting Estimate</span></div><div style="padding-right:0.55pt;text-align:justify"><span><br/></span></div><div style="padding-right:0.55pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The calculation of depreciation expense is based on the estimated economic useful lives of the underlying property, plant and equipment. In April 2022, the Company completed an assessment of the useful lives of machinery and equipment and certain production equipment and adjusted the estimated useful life of machinery and equipment from five years to 15 years and the estimated useful life of certain production equipment from <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjIyMGY3MWU2NmNhNTQ3M2VhOTYxNWE5ZmZmZmJlNjY2L3NlYzoyMjBmNzFlNjZjYTU0NzNlYTk2MTVhOWZmZmZiZTY2Nl8zNC9mcmFnOmFmMDI1MGI0OTc1NzRjYTc4YzEzODc2NDc2OWVjYjcxL3RleHRyZWdpb246YWYwMjUwYjQ5NzU3NGNhNzhjMTM4NzY0NzY5ZWNiNzFfNjU5NzA2OTgwOTE3OQ_afe1a06e-8239-493d-8bd5-7d8afcf9dde0">five</span> to 10 years. Based on the carrying value of machinery and certain production equipment as of April 1, 2022, and those acquired during the quarter ended June 30, 2022, the effect of this change in estimate was a reduction in depreciation expense of $117 thousand for the three months ended June 30, 2022. The change in the useful lives is considered a change in accounting estimate and has been applied prospectively.</span></div> | ||
us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div style="padding-right:0.55pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Reclassification</span></div><div style="padding-right:0.55pt;text-align:justify"><span><br/></span></div><div style="padding-right:0.55pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Certain prior period balances have been reclassified to conform to the current period presentation. Such changes include reclassifications or combinations of certain accounts within property and equipment, net. These reclassifications have no effect on the previously reported financial position, results of operations, and cash flows. Refer to Note 5, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Property and Equipment</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> for additional detail.</span></div> | ||
CY2022Q1 | us-gaap |
Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
|
30000000 | usd |
CY2022Q2 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
1779000 | usd |
CY2021Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
612000 | usd |
CY2022Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
209000 | usd |
CY2021Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
173000 | usd |
CY2022Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
1591000 | usd |
CY2021Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
69000 | usd |
CY2022Q2 | us-gaap |
Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
|
0 | usd |
CY2021Q4 | us-gaap |
Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
|
163000 | usd |
CY2022Q2 | us-gaap |
Inventory Adjustments
InventoryAdjustments
|
473000 | usd |
CY2021Q4 | us-gaap |
Inventory Adjustments
InventoryAdjustments
|
95000 | usd |
CY2022Q2 | us-gaap |
Inventory Net
InventoryNet
|
3106000 | usd |
CY2021Q4 | us-gaap |
Inventory Net
InventoryNet
|
922000 | usd |
CY2022Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2797000 | usd |
CY2022Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
105182000 | usd |
CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
971000 | usd |
CY2022Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
123615000 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
37350000 | usd |
CY2022Q2 | us-gaap |
Depreciation
Depreciation
|
1285000 | usd |
CY2021Q2 | us-gaap |
Depreciation
Depreciation
|
125000 | usd |
us-gaap |
Depreciation
Depreciation
|
1826000 | usd | |
us-gaap |
Depreciation
Depreciation
|
250000 | usd | |
CY2022Q2 | locl |
Accrued Construction Expenses Current
AccruedConstructionExpensesCurrent
|
374000 | usd |
CY2021Q4 | locl |
Accrued Construction Expenses Current
AccruedConstructionExpensesCurrent
|
11192000 | usd |
CY2022Q2 | us-gaap |
Accrued Insurance Current
AccruedInsuranceCurrent
|
1055000 | usd |
CY2021Q4 | us-gaap |
Accrued Insurance Current
AccruedInsuranceCurrent
|
2582000 | usd |
CY2022Q2 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
1188000 | usd |
CY2021Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
792000 | usd |
CY2022Q2 | locl |
Accrued Production Current
AccruedProductionCurrent
|
872000 | usd |
CY2021Q4 | locl |
Accrued Production Current
AccruedProductionCurrent
|
461000 | usd |
CY2022Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
539000 | usd |
CY2021Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
273000 | usd |
CY2022Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
261000 | usd |
CY2021Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
720000 | usd |
CY2022Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
4289000 | usd |
CY2021Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
16020000 | usd |
CY2022Q2 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
22992000 | usd |
CY2021Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
5094000 | usd |
CY2021Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
11199000 | usd |
locl |
Stock Issued During Period Value Debt Modification
StockIssuedDuringPeriodValueDebtModification
|
17400000 | usd | |
CY2022Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-31663000 | usd |
CY2022Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-31663000 | usd |
CY2021Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-7590000 | usd |
CY2021Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-7590000 | usd |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-57435000 | usd | |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-57435000 | usd | |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-16988000 | usd | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-16988000 | usd | |
CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
88607316 | shares |
CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
88607316 | shares |
CY2021Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
49131555 | shares |
CY2021Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
49131555 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
84830885 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
84830885 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
49131555 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
49131555 | shares | |
CY2022Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.36 | |
CY2022Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.36 | |
CY2021Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.15 | |
CY2021Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.15 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.68 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.68 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.35 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.35 |