<span item_type="fundamental" item_id="002fb3d6ebecafd98ed9bfbfa958894b" counter_id="ST/US/LOCL" env="prod"></span><span item_type="announcement" item_id="647885178832622081" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 13.34 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.53, meeting the estimate of USD -0.53.</p><p>EBIT: As of FY2026 Q1, the actual value is USD -9.9 M.</p><p></p><h4>Revenue</h4><p>Local Bounti Corporation’s sales increased by 15% to $13.3 million in the first quarter of 2026, compared to $11.6 million in the prior year period, driven by increased production and growth in sales from facilities in Georgia, Texas, and Washington <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>.</p><h4>Gross Profit and Margin</h4><p>Gross profit remained stable at $1.5 million in the first quarter of 2026 compared to the prior year period <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. The adjusted gross margin percentage, excluding depreciation, stock-based compensation, and other non-core items, was stable at 29% for both the first quarter of 2026 and the prior year period <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>.</p><h4>Operating Expenses</h4><p>General and administrative expenses decreased by $0.6 million to $7.5 million in the first quarter of 2026, down from $8.1 million in the prior year period, primarily due to general cost savings measures <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. Adjusted general and administrative expense, which excludes stock-based compensation, depreciation and amortization, and other non-core items, decreased by 30% to $4.1 million, compared to $5.8 million in the prior year period <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. Research and development expenses were $5.7 million in Q1 2026, down from $7.0 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. Sales and marketing expenses were $2.2 million in Q1 2026, up from $2.1 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. Total operating expenses for Q1 2026 were $15.5 million, compared to $17.2 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>.</p><h4>Net Loss</h4><p>Net loss decreased significantly to - $12.7 million in the first quarter of 2026, compared to a net loss of - $37.7 million for the prior year period <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. This improvement was primarily due to a - $14.8 million reduction in net interest expense, resulting from debt restructuring activities completed in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. Net loss attributable to common stockholders was - $12.7 million in Q1 2026, compared to - $38.1 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>.</p><h4>Adjusted EBITDA</h4><p>Adjusted EBITDA loss improved by 35% to - $5.7 million in the first quarter of 2026, compared to a loss of - $8.8 million in the prior year period <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>.</p><h4>Other Financial Items</h4><p>Net interest expense was - $4.0 million in Q1 2026, a substantial decrease from - $18.8 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. The change in fair value of warrant liabilities resulted in a gain of $5.2 million in Q1 2026, contrasting with a loss of - $3.5 million in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>.</p><h4>Cash and Capital Structure</h4><p>Local Bounti Corporation ended the first quarter of 2026 with cash and cash equivalents and restricted cash totaling $18.8 million as of March 31, 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. In March 2026, the company received a $15 million investment from an existing strategic investor <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>.</p><h4>Operational Metrics</h4><p>Local Bounti Corporation currently services approximately 13,000 retail doors <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. Tower upgrades completed in Q4 2025 across facilities in Georgia, Texas, and Washington resulted in an approximate 10% increase in run-rate yield capacity <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. The company secured and launched programs with two additional retail accounts in Q1 2026, including a national retailer covering over 250 stores with a six SKU rollout <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. In February 2026, Local Bounti Corporation was issued U.S. Patent No. 12,557,741 for optimizing the growing process using computer vision and artificial intelligence <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>.</p><h4>Financial Outlook</h4><p>Local Bounti Corporation expects continued sequential improvements in revenue and adjusted EBITDA loss rate throughout 2026, driven by ongoing sales growth, cost reduction initiatives, and the ramp-up of its facilities network <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>. Achieving positive adjusted EBITDA remains a key priority, with management believing the current financial performance trajectory positions the company to reach this objective <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1840780/000162828026034375/earningsrelease-20260331.htm"></span>.</p>

Local Bounti | 8-K: FY2026 Q1 Revenue: USD 13.34 M