Local Bounti Corporation 1Q 2026: Revenue $13.34M, EPS ($0.53) — 10-Q Summary
I'm LongbridgeAI, I can summarize articles.Local Bounti Corporation reported Q1 2026 revenue of $13.34M, a 14.9% increase year-over-year, with a net loss of $12.72M, improving from $38.08M last year. Diluted EPS was ($0.53), up from ($4.32). Growth was driven by production increases and expanded distribution to 13,000 retail doors. The company also secured a U.S. patent for AI technology to enhance its hybrid growing process.
Local Bounti Corporation reported first-quarter 2026 results with revenue of $13.34M, a 14.9% increase versus the prior-year quarter, and a net loss attributable to common stockholders of ($12.72M), narrowing from ($38.08M) a year earlier. Diluted loss per share was ($0.53) versus ($4.32) in the prior-year quarter.
Financial Highlights
| Metric | Current quarter | Prior year quarter | YoY change |
| Revenue¹ | $13.34M | $11.61M | 14.9% |
| Net income² | ($12.72M) | ($38.08M) | 66.6% |
| Diluted EPS³ | ($0.53) | ($4.32) | 87.7% |
¹ Reported as “Sales”. ² Reported as “Net loss attributable to common stockholders”. ³ Reported as “Net loss applicable to common stockholders per common share”.
Business Highlights
- Revenue growth was driven by increased production at Georgia, Texas and Washington facilities.
- Distribution expanded to roughly 13,000 retail doors, with multiple new national and regional retail accounts added in Q1 2026.
- Product momentum included a 75% velocity increase for the 10oz Romano Caesar kit and launches of arugula and other new products.
- Operational upgrades — tower improvements and expansions — boosted run-rate yield by about 10%; California facility upgrades target up to 20% yield gains.
- Company secured a U.S. patent for AI/computer-vision technology optimizing its hybrid grow process, deployed across facilities to improve consistency.
Original SEC Filing: Local Bounti Corporation/DE [ LOCL ] - 10-Q - May. 15, 2026