I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q1, the actual value is USD 13.34 M.
EPS: As of FY2026 Q1, the actual value is USD -0.53, meeting the estimate of USD -0.53.
EBIT: As of FY2026 Q1, the actual value is USD -9.9 M.
Revenue
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 .
Gross Profit and Margin
Gross profit remained stable at $1.5 million in the first quarter of 2026 compared to the prior year period . 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 .
Operating Expenses
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 . 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 . Research and development expenses were $5.7 million in Q1 2026, down from $7.0 million in Q1 2025 . Sales and marketing expenses were $2.2 million in Q1 2026, up from $2.1 million in Q1 2025 . Total operating expenses for Q1 2026 were $15.5 million, compared to $17.2 million in Q1 2025 .
Net Loss
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 . 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 . Net loss attributable to common stockholders was - $12.7 million in Q1 2026, compared to - $38.1 million in Q1 2025 .
Adjusted EBITDA
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 .
Other Financial Items
Net interest expense was - $4.0 million in Q1 2026, a substantial decrease from - $18.8 million in Q1 2025 . 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 .
Cash and Capital Structure
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 . In March 2026, the company received a $15 million investment from an existing strategic investor .
Operational Metrics
Local Bounti Corporation currently services approximately 13,000 retail doors . Tower upgrades completed in Q4 2025 across facilities in Georgia, Texas, and Washington resulted in an approximate 10% increase in run-rate yield capacity . 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 . 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 .
Financial Outlook
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 . Achieving positive adjusted EBITDA remains a key priority, with management believing the current financial performance trajectory positions the company to reach this objective .