Local Bounti Corporation/DE LOCL
Our mission is to revolutionize agriculture, ensuring accessibility to fresh, sustainable, locally grown produce to nourish communities everywhere for generations to come. Our vision is to reimagine freshness. We envision a future where transformative innovation and technology combine to enable us to locally grow produce with minimal food miles, ensuring the freshest and most sustainable offerings for communities everywhere. We believe that happy plants make happy taste buds, and we are committed to reimagining the standards of freshness. We also believe that local is the best kind of business, and we are committed to helping communities thrive for generations to come. We are committed to building empowered local teams. Together, we believe we are capable of extraordinary achievements in sustainable agriculture.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $48.4M | $38.1M | $27.6M | $19.5M | $638.0K | $82.0K | — |
| Cost of revenue | $42.5M | $34.0M | $25.3M | $17.3M | $432.0K | $91.0K | — |
| Gross profit | $5.9M | $4.1M | $2.2M | $2.2M | $206.0K | -$9.0K | — |
| R&D | $25.6M | $22.3M | $16.1M | $14.1M | $3.4M | $1.1M | — |
| SG&A | $33.8M | $32.9M | $64.6M | $82.7M | $41.5M | $6.8M | — |
| Total operating expenses | $68.5M | $63.1M | $119.1M | $96.7M | $44.9M | $7.9M | — |
| Operating income | -$62.6M | -$59.0M | -$116.9M | -$94.5M | -$44.7M | -$7.9M | — |
| Interest expense | — | — | $25.7M | $16.7M | $6.6M | $522.0K | — |
| Pre-tax income | -$94.4M | -$119.9M | -$124.0M | -$111.1M | -$56.1M | -$8.4M | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net income | -$94.4M | -$119.9M | -$124.0M | -$111.1M | -$56.1M | -$8.4M | — |
| EPS, basic | -5.61 | -14.14 | -15.61 | -16.57 | -1.06 | -0.17 | — |
| EPS, diluted | -5.61 | -14.14 | -15.61 | -16.57 | -1.06 | -0.17 | — |
| Shares, diluted (wtd. avg.) | $16.9M | $8.5M | $7.9M | $6.7M | $52.9M | $49.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.2M | $937.0K | $16.9M | $24.9M | $101.1M | $45.0K | $2.1M |
| Receivables | $2.2M | $2.3M | $3.1M | $2.7M | $110.0K | $11.0K | — |
| Inventory | $7.4M | $6.8M | $4.2M | $3.6M | $922.0K | $243.0K | — |
| Total current assets | $22.0M | $18.8M | $27.0M | $34.1M | $105.5M | $628.0K | — |
| Property, plant and equipment | $357.4M | $371.0M | $313.2M | — | — | — | — |
| Goodwill | — | — | $0 | $38.5M | $0 | — | — |
| Other intangibles | $30.8M | $37.8M | $41.4M | $47.3M | $0 | — | — |
| Total assets | $410.5M | $428.0M | $381.8M | $278.7M | $143.9M | $9.1M | — |
| Accounts payable | $11.8M | $17.0M | $14.6M | $13.8M | $1.9M | $176.0K | — |
| Short-term debt | $0 | $20.2M | $0 | — | — | — | — |
| Total current liabilities | $16.3M | $55.4M | $31.9M | $23.3M | $18.0M | $2.4M | — |
| Long-term debt | $483.1M | $416.6M | $278.0M | $119.8M | $11.2M | $104.0K | — |
| Total liabilities | $576.7M | $528.5M | $366.5M | $157.4M | $42.2M | $11.7M | — |
| Retained earnings | -$517.6M | -$423.2M | -$303.3M | -$179.3M | -$68.2M | -$12.1M | — |
| Total equity | -$166.2M | -$100.5M | $15.3M | $121.3M | $101.7M | -$2.6M | $2.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$30.3M | -$27.1M | -$33.2M | -$48.8M | -$20.1M | -$3.8M | — |
| Depreciation and amortisation | $23.2M | $18.9M | $13.1M | $10.4M | $684.0K | $287.0K | — |
| Stock-based compensation | $5.2M | $3.3M | $16.3M | $39.2M | $17.9M | $3.3M | — |
| Capital expenditure | $11.6M | $82.5M | $162.3M | $56.0M | $29.7M | $3.4M | — |
| Investing cash flow | -$11.6M | -$82.5M | -$162.3M | -$172.4M | -$29.7M | -$3.4M | — |
| Financing cash flow | $45.2M | $100.1M | $187.4M | $145.1M | $150.8M | $5.2M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-021706.
Others in SIC 0100
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|---|---|---|---|---|
| DMC | DEL MONTE CORP | $1.51B | 17.1x | 1.0% |
| DOLE | Dole plc | $1.32B | 26.4x | 8.2% |
| VFF | Village Farms International, Inc. | $357.1M | 10.8x | 10.2% |
| ALCO | ALICO, INC. | $299.9M | — | -5.5% |
| LMNR | Limoneira CO | $271.8M | — | -17.3% |
| TULP | BLOOMIA HOLDINGS, INC. | $16.6M | — | — |
| EDBL | Edible Garden AG Inc | $2.7M | — | — |
| AGRZ | Agroz Inc. | — | — | — |