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LOCAL BOUNTI CORP Financials

LOCL
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows LOCAL BOUNTI CORP (LOCL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LOCL FY2025

Local Bounti's cash burn improved mainly because expansion spending fell, while the operating engine still runs at a sizable loss.

From FY2023 to FY2025, free cash outflow narrowed from -$195.4M to -$41.9M. Because operating cash flow was still -$30.3M in FY2025, that cleaner cash profile reflects lower capital intensity after the build-out, not a core business that has become self-funding.

Revenue is larger than two years ago, but gross margin only reached 12.1% in FY2025, so the company is still keeping only a thin slice of sales before overhead. Even with lower selling and admin costs, a $48.4M revenue base is not yet carrying the operating structure, which is why operating losses remain persistent instead of dropping away with scale.

The balance sheet is being supported more by financing than by accumulated earnings: equity stayed negative at -$166.2M while long-term debt climbed to $483.1M. Short-term pressure eased as the current ratio recovered to 1.4x and cash rose from the prior year, but that liquidity repair still sits on top of a capital structure that leans heavily on debt.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Cash Runway Dilution R&D Intensity Revenue Progress Burn Trend Balance Sheet 36 / 100
Financial Health Score 36/100
Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of LOCAL BOUNTI CORP's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway
10
Dilution
20
R&D Intensity
56
Revenue Progress
80
Burn Trend
47
Balance Sheet
3
Altman Z-Score Distress
-2.10

LOCAL BOUNTI CORP scores -2.10, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($29.6M) relative to total liabilities ($576.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral
5/9

LOCAL BOUNTI CORP passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality
0.32x

For every $1 of reported earnings, LOCAL BOUNTI CORP generates $0.32 in operating cash flow (-$30.3M OCF vs -$94.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue
$48.4M
YoY+26.8%
5Y CAGR+258.2%

LOCAL BOUNTI CORP generated $48.4M in revenue in fiscal year 2025. This represents an increase of 26.8% from the prior year.

EBITDA
-$39.4M
YoY+1.7%

LOCAL BOUNTI CORP's EBITDA was -$39.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 1.7% from the prior year.

Net Income
-$94.4M
YoY+21.3%

LOCAL BOUNTI CORP reported -$94.4M in net income in fiscal year 2025. This represents an increase of 21.3% from the prior year.

EPS (Diluted)
$-5.61
YoY+60.3%

LOCAL BOUNTI CORP earned $-5.61 per diluted share (EPS) in fiscal year 2025. This represents an increase of 60.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$41.9M
YoY+61.7%

LOCAL BOUNTI CORP generated -$41.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 61.7% from the prior year.

Cash & Debt
$4.2M
YoY+351.8%
5Y CAGR+148.1%

LOCAL BOUNTI CORP held $4.2M in cash against $483.1M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
22M
YoY+156.7%
5Y CAGR-17.5%

LOCAL BOUNTI CORP had 22M shares outstanding in fiscal year 2025. This represents an increase of 156.7% from the prior year.

Margins & Returns

Gross Margin
12.1%
YoY+1.4pp
5Y CAGR+23.1pp

LOCAL BOUNTI CORP's gross margin was 12.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.4 percentage points from the prior year.

Operating Margin
-129.5%
YoY+25.1pp
5Y CAGR+9531.5pp

LOCAL BOUNTI CORP's operating margin was -129.5% in fiscal year 2025, reflecting core business profitability. This is up 25.1 percentage points from the prior year.

Net Margin
-195.1%
YoY+119.2pp
5Y CAGR+10059.7pp

LOCAL BOUNTI CORP's net profit margin was -195.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 119.2 percentage points from the prior year.

Return on Equity
N/A

Capital Allocation

R&D Spending
$25.6M
YoY+14.8%
5Y CAGR+88.3%

LOCAL BOUNTI CORP invested $25.6M in research and development in fiscal year 2025. This represents an increase of 14.8% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$11.6M
YoY-85.9%
5Y CAGR+27.6%

LOCAL BOUNTI CORP invested $11.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 85.9% from the prior year.

LOCL Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $13.3M+7.1% $12.5M+2.1% $12.2M+0.8% $12.1M+4.3% $11.6M+15.2% $10.1M-1.7% $10.2M+8.5% $9.4M
Cost of Revenue $11.8M+7.9% $10.9M+1.3% $10.8M+1.5% $10.6M+4.8% $10.1M+6.4% $9.5M+7.9% $8.8M+9.1% $8.1M
Gross Profit $1.5M+0.9% $1.5M+8.2% $1.4M-4.5% $1.5M+0.8% $1.5M+170.6% $540K-61.8% $1.4M+4.6% $1.4M
R&D Expenses $5.7M+5.1% $5.4M-18.6% $6.7M+3.0% $6.5M-7.1% $7.0M-2.9% $7.2M+1.3% $7.1M+57.0% $4.5M
SG&A Expenses $7.5M+5.6% $7.1M-32.3% $10.5M+30.6% $8.0M-0.7% $8.1M-20.0% $10.1M-18.0% $12.3M+15.4% $10.7M
Operating Income -$13.9M-5.4% -$13.2M+27.4% -$18.2M-17.9% -$15.4M+1.8% -$15.7M+6.2% -$16.8M+7.0% -$18.0M-30.1% -$13.9M
Interest Expense -$4.0M N/A -$4.6M+0.9% -$4.6M+75.6% -$18.8M N/A -$18.3M-46.5% -$12.5M
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income -$12.7M-46.2% -$8.7M+67.1% -$26.4M-22.5% -$21.6M+42.7% -$37.7M-3.9% -$36.3M-5.6% -$34.3M-35.9% -$25.3M
EPS (Diluted) $-0.53 N/A $-1.18+27.6% $-1.63+62.3% $-4.32 N/A $-4.01-33.7% $-3.00

LOCL Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $414.2M+0.9% $410.5M-1.7% $417.8M-2.1% $426.8M-4.6% $447.2M+4.5% $428.0M-0.6% $430.8M-1.7% $438.1M
Current Assets $30.2M+37.1% $22.0M-8.7% $24.1M-3.3% $24.9M-38.6% $40.6M+115.8% $18.8M+8.8% $17.3M-35.4% $26.8M
Cash & Equivalents $12.3M+189.5% $4.2M-31.7% $6.2M+17.3% $5.3M-70.6% $18.0M+1821.9% $937K+195.6% $317K-96.7% $9.7M
Inventory $7.2M-3.0% $7.4M+8.7% $6.8M-2.9% $7.0M-1.8% $7.2M+5.0% $6.8M+4.1% $6.5M+19.6% $5.5M
Accounts Receivable $2.9M+30.0% $2.2M-9.1% $2.4M-0.6% $2.4M-5.9% $2.6M+13.5% $2.3M+11.6% $2.0M-18.3% $2.5M
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $592.2M+2.7% $576.7M+0.1% $575.9M+2.9% $559.5M-0.1% $560.2M+6.0% $528.5M+6.5% $496.4M+5.4% $470.9M
Current Liabilities $18.7M+14.4% $16.3M+13.9% $14.3M-26.1% $19.4M-3.0% $20.0M-64.0% $55.4M+4.4% $53.1M+22.2% $43.5M
Long-Term Debt $490.8M+1.6% $483.1M-0.4% $484.9M+1.4% $478.3M-0.4% $480.0M+15.2% $416.6M+8.2% $384.9M+4.8% $367.3M
Total Equity -$178.0M-7.1% -$166.2M-5.1% -$158.1M-19.2% -$132.7M+1.3% -$134.5M-33.8% -$100.5M-53.2% -$65.6M-99.8% -$32.8M
Retained Earnings -$530.3M-2.5% -$517.6M-1.7% -$508.9M-5.5% -$482.5M-4.7% -$460.9M-8.9% -$423.2M-9.4% -$387.0M-9.7% -$352.6M

LOCL Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$6.1M-92.9% -$3.1M+64.7% -$8.9M-2.3% -$8.7M+8.8% -$9.6M-874.1% $1.2M+107.2% -$17.2M-330.2% -$4.0M
Capital Expenditures $1.1M+329.3% -$482K-140.6% $1.2M-80.0% $5.9M+19.3% $5.0M-49.5% $9.8M-23.3% $12.8M-48.4% $24.8M
Free Cash Flow -$7.2M-97.8% -$3.6M+64.1% -$10.1M+31.0% -$14.6M-0.9% -$14.5M-69.0% -$8.6M+71.4% -$30.0M-4.1% -$28.8M
Investing Cash Flow -$1.1M-329.3% $482K+140.6% -$1.2M+80.0% -$5.9M-19.3% -$5.0M+49.5% -$9.8M+23.3% -$12.8M+48.4% -$24.8M
Financing Cash Flow $15.2M+2165.9% $672K-93.0% $9.6M+1699.8% -$603K-101.7% $35.5M+283.4% $9.3M-55.2% $20.6M-31.8% $30.3M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

LOCL Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 11.5%-0.7pp 12.2%+0.7pp 11.5%-0.6pp 12.2%-0.4pp 12.6%+7.2pp 5.4%-8.4pp 13.8%-0.5pp 14.3%
Operating Margin -104.5%+1.7pp -106.1%+43.2pp -149.3%-21.7pp -127.6%+7.9pp -135.6%+31.0pp -166.6%+9.5pp -176.0%-29.2pp -146.8%
Net Margin -95.4%-25.5pp -69.8%+146.8pp -216.6%-38.4pp -178.3%+146.4pp -324.6%+35.4pp -360.1%-24.9pp -335.2%-67.6pp -267.6%
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets -3.1%-1.0pp -2.1%+4.2pp -6.3%-1.3pp -5.1%+3.4pp -8.4%+0.1pp -8.5%-0.5pp -8.0%-2.2pp -5.8%
Current Ratio 1.62+0.3 1.35-0.3 1.69+0.4 1.29-0.7 2.03+1.7 0.34+0.0 0.33-0.3 0.62
Debt-to-Equity -2.76+0.1 -2.91+0.2 -3.07+0.5 -3.60-0.0 -3.57+0.6 -4.14+1.7 -5.87+5.3 -11.18
FCF Margin -53.8%-24.7pp -29.1%+53.7pp -82.8%+38.1pp -121.0%+4.1pp -125.1%-39.8pp -85.3%+207.8pp -293.1%+12.3pp -305.4%

Note: Shareholder equity is negative (-$166.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

LOCAL BOUNTI CORP (LOCL) reported $48.4M in total revenue for fiscal year 2025. This represents a 26.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

LOCAL BOUNTI CORP (LOCL) revenue grew by 26.8% year-over-year, from $38.1M to $48.4M in fiscal year 2025.

No, LOCAL BOUNTI CORP (LOCL) reported a net income of -$94.4M in fiscal year 2025, with a net profit margin of -195.1%.

LOCAL BOUNTI CORP (LOCL) reported diluted earnings per share of $-5.61 for fiscal year 2025. This represents a 60.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

LOCAL BOUNTI CORP (LOCL) had EBITDA of -$39.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, LOCAL BOUNTI CORP (LOCL) had $4.2M in cash and equivalents against $483.1M in long-term debt.

LOCAL BOUNTI CORP (LOCL) had a gross margin of 12.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

LOCAL BOUNTI CORP (LOCL) had an operating margin of -129.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

LOCAL BOUNTI CORP (LOCL) had a net profit margin of -195.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

LOCAL BOUNTI CORP (LOCL) generated -$41.9M in free cash flow during fiscal year 2025. This represents a 61.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

LOCAL BOUNTI CORP (LOCL) generated -$30.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

LOCAL BOUNTI CORP (LOCL) had $410.5M in total assets as of fiscal year 2025, including both current and long-term assets.

LOCAL BOUNTI CORP (LOCL) invested $11.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

LOCAL BOUNTI CORP (LOCL) invested $25.6M in research and development during fiscal year 2025.

LOCAL BOUNTI CORP (LOCL) had 22M shares outstanding as of fiscal year 2025.

LOCAL BOUNTI CORP (LOCL) had a current ratio of 1.35 as of fiscal year 2025, which is considered adequate.

LOCAL BOUNTI CORP (LOCL) had a debt-to-equity ratio of -2.91 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

LOCAL BOUNTI CORP (LOCL) had a return on assets of -23.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, LOCAL BOUNTI CORP (LOCL) had $4.2M in cash against an annual operating cash burn of $30.3M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

LOCAL BOUNTI CORP (LOCL) has negative shareholder equity of -$166.2M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

LOCAL BOUNTI CORP (LOCL) has an Altman Z-Score of -2.10, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

LOCAL BOUNTI CORP (LOCL) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

LOCAL BOUNTI CORP (LOCL) has an earnings quality ratio of 0.32x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

LOCAL BOUNTI CORP (LOCL) scores 36 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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