$LOCL
Local Bounti Corporation/DE Stock $locl

$locl Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-Q Financial Statement

#000184078023000022 Filed on May 12, 2023

Income Statement

Concept	2023 Q2	2023 Q1
Revenue	$7.183M	$6.698M
YoY Change	14.58%	2275.18%
Cost Of Revenue	$6.331M	$6.419M
YoY Change	0.8%	2643.16%
Gross Profit	$852.0K	$279.0K
YoY Change	-7200.0%	481.25%
Gross Profit Margin	11.86%	4.17%
Selling, General & Admin	$16.70M	$15.98M
YoY Change	-27.82%	-28.2%
% of Gross Profit	1960.56%	5727.96%
Research & Development	$3.526M	$3.576M
YoY Change	14.74%	83.57%
% of Gross Profit	413.85%	1281.72%
Depreciation & Amortization	$3.316M	$3.458M
YoY Change	-1.92%	539.19%
% of Gross Profit	389.2%	1239.43%
Operating Expenses	$20.23M	$19.56M
YoY Change	-22.83%	-19.21%
Operating Profit	-$19.38M	-$19.28M
YoY Change	-26.11%	-20.2%
Interest Expense	-$6.472M	-$4.299M
YoY Change	18.43%	161.66%
% of Operating Profit
Other Income/Expense, Net	$23.00K	$50.00K
YoY Change		66.67%
Pretax Income	-$10.68M	-$23.53M
YoY Change	-66.28%	-8.71%
Income Tax
% Of Pretax Income
Net Earnings	-$10.68M	-$23.53M
YoY Change	-66.28%	-8.71%
Net Earnings / Revenue	-148.63%	-351.25%
Basic Earnings Per Share	-$1.35	-$0.23
Diluted Earnings Per Share	-$1.35	-$0.23
COMMON SHARES
Basic Shares Outstanding	105.6M shares	104.5M shares
Diluted Shares Outstanding	7.930M shares	100.5M shares

Balance Sheet

Concept	2023 Q2	2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$33.95M	$7.468M
YoY Change	49.52%	-89.62%
Cash & Equivalents	$33.90M	$7.468M
Short-Term Investments
Other Short-Term Assets	$9.526M	$3.459M
YoY Change	-57.0%	-56.76%
Inventory	$4.254M	$3.848M
Prepaid Expenses
Receivables	$2.793M	$2.610M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$50.52M	$17.39M
YoY Change	0.61%	-78.62%
LONG-TERM ASSETS
Property, Plant & Equipment	$231.1M	$197.1M
YoY Change	86.92%	348.11%
Goodwill	$38.48M	$38.48M
YoY Change	5.15%
Intangibles	$43.92M	$45.60M
YoY Change	-17.01%
Long-Term Investments
YoY Change
Other Assets	$25.00K	$24.00K
YoY Change	-97.24%	-97.35%
Total Long-Term Assets	$313.5M	$281.2M
YoY Change	46.34%	522.66%
TOTAL ASSETS
Total Short-Term Assets	$50.52M	$17.39M
Total Long-Term Assets	$313.5M	$281.2M
Total Assets	$364.0M	$298.6M
YoY Change	37.66%	136.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$9.045M	$21.85M
YoY Change	75.05%	194.03%
Accrued Expenses	$17.37M	$10.06M
YoY Change	305.04%	49.69%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$26.48M	$31.99M
YoY Change	177.94%	123.89%
LONG-TERM LIABILITIES
Long-Term Debt	$179.4M	$122.4M
YoY Change	70.56%	1001.86%
Other Long-Term Liabilities	$10.70M	$25.87M
YoY Change	11280.85%	17738.62%
Total Long-Term Liabilities	$179.4M	$122.4M
YoY Change	70.56%	1001.86%
TOTAL LIABILITIES
Total Short-Term Liabilities	$26.48M	$31.99M
Total Long-Term Liabilities	$179.4M	$122.4M
Total Liabilities	$265.7M	$194.5M
YoY Change	106.0%	391.99%
SHAREHOLDERS EQUITY
Retained Earnings	-$213.5M	-$202.8M
YoY Change	69.88%	115.76%
Common Stock	$1.000K	$10.00K
YoY Change	-88.89%	11.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$98.28M	$104.2M
YoY Change
Total Liabilities & Shareholders Equity	$364.0M	$298.6M
YoY Change	37.66%	136.11%

Cashflow Statement

Concept	2023 Q2	2023 Q1
OPERATING ACTIVITIES
Net Income	-$10.68M	-$23.53M
YoY Change	-66.28%	-8.71%
Depreciation, Depletion And Amortization	$3.316M	$3.458M
YoY Change	-1.92%	539.19%
Cash From Operating Activities	-$8.258M	-$7.830M
YoY Change	-51.0%	-22.36%
INVESTING ACTIVITIES
Capital Expenditures	$43.50M	$32.69M
YoY Change	-218.84%	122.76%
Acquisitions
YoY Change
Other Investing Activities	$0.00
YoY Change	-100.0%
Cash From Investing Activities	-$43.50M	-$32.69M
YoY Change	-66.01%	122.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	84.72M	$23.05M
YoY Change	-22.81%	32357.75%
NET CHANGE
Cash From Operating Activities	-8.258M	-$7.830M
Cash From Investing Activities	-43.50M	-$32.69M
Cash From Financing Activities	84.72M	$23.05M
Net Change In Cash	32.96M	-$17.47M
YoY Change	-193.89%	-29.23%
FREE CASH FLOW
Cash From Operating Activities	-$8.258M	-$7.830M
Capital Expenditures	$43.50M	$32.69M
Free Cash Flow	-$51.76M	-$40.52M
YoY Change	-362.04%	63.64%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023Q1	dei	Entity Registrant Name EntityRegistrantName	Local Bounti Corporation/DE
CY2023Q1	dei	Local Phone Number LocalPhoneNumber	640-4016
CY2023Q1	dei	Amendment Flag AmendmentFlag	false
CY2023Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2023Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001840780
CY2023Q1	dei	Document Type DocumentType	10-Q
CY2023Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2023Q1	dei	Document Period End Date DocumentPeriodEndDate	2023-03-31
CY2023Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2023Q1	dei	Entity File Number EntityFileNumber	001-40125
CY2023Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	98-1584830
CY2023Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	400 W. Main St.
CY2023Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Hamilton,
CY2023Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	MT
CY2023Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	59840
CY2023Q1	dei	City Area Code CityAreaCode	(800)
CY2023Q1	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023Q1	dei	Entity Small Business EntitySmallBusiness	true
CY2023Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2023Q1	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2023Q1	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	105584835	shares
CY2023Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	7468000	usd
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	13666000	usd
CY2023Q1	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	0	usd
CY2022Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	11272000	usd
CY2023Q1	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	2610000	usd
CY2022Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	2691000	usd
CY2023Q1	us-gaap	Inventory Net InventoryNet	3848000	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	3594000	usd
CY2023Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	3459000	usd
CY2022Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	2881000	usd
CY2023Q1	us-gaap	Assets Current AssetsCurrent	17385000	usd
CY2022Q4	us-gaap	Assets Current AssetsCurrent	34104000	usd
CY2023Q1	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	196907000	usd
CY2022Q4	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	157844000	usd
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	235000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	137000	usd
CY2023Q1	us-gaap	Goodwill Goodwill	38481000	usd
CY2022Q4	us-gaap	Goodwill Goodwill	38481000	usd
CY2023Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	45597000	usd
CY2022Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	47273000	usd
CY2023Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	24000	usd
CY2022Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	901000	usd
CY2023Q1	us-gaap	Assets Assets	298629000	usd
CY2022Q4	us-gaap	Assets Assets	278740000	usd
CY2023Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	21849000	usd
CY2022Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	13757000	usd
CY2023Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	10061000	usd
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	9426000	usd
CY2023Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	81000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	84000	usd
CY2023Q1	us-gaap	Liabilities Current LiabilitiesCurrent	31991000	usd
CY2022Q4	us-gaap	Liabilities Current LiabilitiesCurrent	23267000	usd
CY2023Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	122417000	usd
CY2022Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	119814000	usd
CY2023Q1	locl	Financing Obligation FinancingObligation	14188000	usd
CY2022Q4	locl	Financing Obligation FinancingObligation	14139000	usd
CY2023Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	169000	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	187000	usd
CY2023Q1	locl	Warrant Liability Fair Value WarrantLiabilityFairValue	25697000	usd
CY2022Q4	locl	Warrant Liability Fair Value WarrantLiabilityFairValue	0	usd
CY2023Q1	us-gaap	Liabilities Liabilities	194462000	usd
CY2022Q4	us-gaap	Liabilities Liabilities	157407000	usd
CY2023Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2022Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2023Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2022Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2022Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	400000000	shares
CY2023Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	400000000	shares
CY2023Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	104240153	shares
CY2023Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	104240153	shares
CY2022Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	103700630	shares
CY2022Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	103700630	shares
CY2023Q1	us-gaap	Common Stock Value CommonStockValue	10000	usd
CY2022Q4	us-gaap	Common Stock Value CommonStockValue	10000	usd
CY2023Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	306997000	usd
CY2022Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	300636000	usd
CY2023Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-202840000	usd
CY2022Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-179313000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	104167000	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	121333000	usd
CY2023Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	298629000	usd
CY2022Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	278740000	usd
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	6698000	usd
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	282000	usd
CY2023Q1	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	6419000	usd
CY2022Q1	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	234000	usd
CY2023Q1	us-gaap	Gross Profit GrossProfit	279000	usd
CY2022Q1	us-gaap	Gross Profit GrossProfit	48000	usd
CY2023Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	3576000	usd
CY2022Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	1948000	usd
CY2023Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	15981000	usd
CY2022Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	22259000	usd
CY2023Q1	us-gaap	Operating Expenses OperatingExpenses	19557000	usd
CY2022Q1	us-gaap	Operating Expenses OperatingExpenses	24207000	usd
CY2023Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-19278000	usd
CY2022Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-24159000	usd
CY2023Q1	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	-4299000	usd
CY2022Q1	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	-1643000	usd
CY2023Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	50000	usd
CY2022Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	30000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-23527000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-25772000	usd
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.23
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.23
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.32
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.32
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	100462262	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	100462262	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	81009268	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	81009268	shares
CY2023Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	5959000	usd
CY2022Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	11013000	usd
CY2023Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	3458000	usd
CY2022Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	541000	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	121333000	usd
CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	6361000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-23527000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	104167000	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
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-23527000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-25772000	usd
CY2023Q1	us-gaap	Depreciation Depreciation	1782000	usd
CY2022Q1	us-gaap	Depreciation Depreciation	541000	usd
CY2023Q1	locl	Amortization Excluding Operating Leases AmortizationExcludingOperatingLeases	1676000	usd
CY2022Q1	locl	Amortization Excluding Operating Leases AmortizationExcludingOperatingLeases	0	usd
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	0	usd
CY2022Q1	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	28000	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	5959000	usd
CY2022Q1	us-gaap	Share Based Compensation ShareBasedCompensation	11013000	usd
CY2023Q1	us-gaap	Provision For Loan Lease And Other Losses ProvisionForLoanLeaseAndOtherLosses	8000	usd
CY2022Q1	us-gaap	Provision For Loan Lease And Other Losses ProvisionForLoanLeaseAndOtherLosses	2000	usd
CY2023Q1	us-gaap	Inventory Write Down InventoryWriteDown	30000	usd
CY2022Q1	us-gaap	Inventory Write Down InventoryWriteDown	0	usd
CY2023Q1	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	0	usd
CY2022Q1	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	-196000	usd
CY2023Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	981000	usd
CY2022Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	191000	usd
CY2023Q1	us-gaap	Financing Interest Expense FinancingInterestExpense	50000	usd
CY2022Q1	us-gaap	Financing Interest Expense FinancingInterestExpense	71000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-76000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-37000	usd
CY2023Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	284000	usd
CY2022Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	341000	usd
CY2023Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-4000	usd
CY2022Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	186000	usd
CY2023Q1	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	0	usd
CY2022Q1	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	-112000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	571000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	2619000	usd
CY2023Q1	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	0	usd
CY2022Q1	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-25000	usd
CY2023Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	4844000	usd
CY2022Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	1500000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-7830000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-10014000	usd
CY2023Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	32685000	usd
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	14673000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-32685000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-14673000	usd
CY2023Q1	us-gaap	Proceeds From Issuance Of Debt ProceedsFromIssuanceOfDebt	23045000	usd
CY2022Q1	us-gaap	Proceeds From Issuance Of Debt ProceedsFromIssuanceOfDebt	0	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	23045000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	0	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-17470000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-24687000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	24938000	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	101077000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	7468000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	76390000	usd
CY2023Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	7468000	usd
CY2022Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	71974000	usd
CY2023Q1	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	0	usd
CY2022Q1	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	4416000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	7468000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	76390000	usd
CY2023Q1	locl	Warrants Issued In Connection With Debt Modification WarrantsIssuedInConnectionWithDebtModification	25697000	usd
CY2022Q1	locl	Warrants Issued In Connection With Debt Modification WarrantsIssuedInConnectionWithDebtModification	0	usd
CY2023Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	7584000	usd
CY2022Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	8161000	usd
CY2023Q1	locl	Stock Based Compensation Capitalized To Property And Equipment Net StockBasedCompensationCapitalizedToPropertyAndEquipmentNet	577000	usd
CY2022Q1	locl	Stock Based Compensation Capitalized To Property And Equipment Net StockBasedCompensationCapitalizedToPropertyAndEquipmentNet	29000	usd
CY2023Q1	locl	Non Cash Equity Settlement On Employee Receivable NonCashEquitySettlementOnEmployeeReceivable	175000	usd
CY2022Q1	locl	Non Cash Equity Settlement On Employee Receivable NonCashEquitySettlementOnEmployeeReceivable	0	usd
CY2023Q1	locl	Non Cash Financing Obligation Activity NonCashFinancingObligationActivity	0	usd
CY2022Q1	locl	Non Cash Financing Obligation Activity NonCashFinancingObligationActivity	840000	usd
CY2023Q1	us-gaap	Inventory Raw Materials InventoryRawMaterials	2217000	usd
CY2022Q4	us-gaap	Inventory Raw Materials InventoryRawMaterials	2018000	usd
CY2023Q1	us-gaap	Inventory Work In Process InventoryWorkInProcess	2255000	usd
CY2022Q4	us-gaap	Inventory Work In Process InventoryWorkInProcess	2213000	usd
CY2023Q1	us-gaap	Inventory Finished Goods InventoryFinishedGoods	97000	usd
CY2022Q4	us-gaap	Inventory Finished Goods InventoryFinishedGoods	54000	usd
CY2023Q1	us-gaap	Inventory Adjustments InventoryAdjustments	721000	usd
CY2022Q4	us-gaap	Inventory Adjustments InventoryAdjustments	691000	usd
CY2023Q1	us-gaap	Inventory Net InventoryNet	3848000	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	3594000	usd
CY2023Q1	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization	8153000	usd
CY2022Q4	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization	6371000	usd
CY2023Q1	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	196907000	usd
CY2022Q4	us-gaap	Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	157844000	usd
CY2023Q1	us-gaap	Depreciation Depreciation	1800000	usd
CY2022Q1	us-gaap	Depreciation Depreciation	500000	usd
CY2023Q1	locl	Accrued Interest Current AccruedInterestCurrent	4984000	usd
CY2022Q4	locl	Accrued Interest Current AccruedInterestCurrent	4372000	usd
CY2023Q1	locl	Accrued Construction Expenses Current AccruedConstructionExpensesCurrent	838000	usd
CY2022Q4	locl	Accrued Construction Expenses Current AccruedConstructionExpensesCurrent	825000	usd
CY2023Q1	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	960000	usd
CY2022Q4	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	1470000	usd
CY2023Q1	locl	Accrued Production Current AccruedProductionCurrent	1105000	usd
CY2022Q4	locl	Accrued Production Current AccruedProductionCurrent	1438000	usd
CY2023Q1	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	1423000	usd
CY2022Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	894000	usd
CY2023Q1	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	751000	usd
CY2022Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	427000	usd
CY2023Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	10061000	usd
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	9426000	usd
CY2023Q1	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	45843000	usd
CY2022Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	21128000	usd
CY2023Q1	us-gaap	Long Term Debt LongTermDebt	122417000	usd
CY2022Q4	us-gaap	Long Term Debt LongTermDebt	119814000	usd
CY2023Q1	locl	Warrant Liability Fair Value WarrantLiabilityFairValue	25700000	usd
CY2023Q1	locl	Warrant Liability Fair Value WarrantLiabilityFairValue	25700000	usd
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.32
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-23527000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-25772000	usd
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	100462262	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	100462262	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	81009268	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	81009268	shares
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.23
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.23
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.32

Files In Submission

Name	View Source	Status
FilingSummary.xml	Edgar Link	unprocessable
locl-20230331_lab.xml	Edgar Link	unprocessable
0001840780-23-000022-index-headers.html	Edgar Link	pending
0001840780-23-000022-index.html	Edgar Link	pending
0001840780-23-000022.txt	Edgar Link	pending
0001840780-23-000022-xbrl.zip	Edgar Link	pending
exhibit311-10xqq12023.htm	Edgar Link	pending
exhibit312-10xqq12023.htm	Edgar Link	pending
exhibit321-10xqq12023.htm	Edgar Link	pending
exhibit322-10xqq12023.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
locl-20230331.htm	Edgar Link	pending
locl-20230331.xsd	Edgar Link	pending
locl-20230331_cal.xml	Edgar Link	unprocessable
locl-20230331_def.xml	Edgar Link	unprocessable
locl-20230331_g1.gif	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
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R2.htm	Edgar Link	pending
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R26.htm	Edgar Link	pending
R27.htm	Edgar Link	pending
R28.htm	Edgar Link	pending
R29.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R30.htm	Edgar Link	pending
R31.htm	Edgar Link	pending
R32.htm	Edgar Link	pending
R33.htm	Edgar Link	pending
R34.htm	Edgar Link	pending
R35.htm	Edgar Link	pending
R36.htm	Edgar Link	pending
R37.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
locl-20230331_pre.xml	Edgar Link	unprocessable
locl-20230331_htm.xml	Edgar Link	completed

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Local Bounti Corporation/DE Stock $locl

2023 Q2 Form 10-Q Financial Statement

#000184078023000022 Filed on May 12, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LOCL Local Bounti Corporation/DE Stock $locl

2023 Q2 Form 10-Q Financial Statement

#000184078023000022 Filed on May 12, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LOCL
Local Bounti Corporation/DE Stock $locl