Local Bounti Corporation 1Q 2026: Revenue $13.34M, EPS ($0.53) — 10-Q Summary

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 HighlightsMetricCurrent quarterPrior year quarterYoY changeRevenue¹$13.34M$11.61M14.9%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 HighlightsRevenue 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, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.