Local Bounti Corp

Local Bounti Corp. operates as an advanced indoor growing facility. It is a premier Controlled Environment Agriculture (CEA) company redefining conversion efficiency and environmental, social and governance standards for indoor agriculture. The company was founded by Travis Joyner and Craig M. Hurlbert in August 2018 and is headquartered in Hamilton, MT.

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Earnings data Q2 2024

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Earnings data Q4 2024

Local Bounti Corp reports robust Q1 growth and eyes revenue doubling

Local Bounti Corp's Q1 2024 performance reflects strong growth potential, with a focus on innovation, customer expansion, and revenue targets for the year.
While facing challenges in managing losses and securing financing, the company's strategic strengths in technology, facilities, and product offerings position it for future success.
Opportunities in new markets, product lines, and revenue growth present avenues for Local Bounti Corp to enhance its competitive position and financial performance.

Local Bounti Corp (LOCL) reports robust sales growth and cost efficiencies

Local Bounti Corp (LOCL) demonstrated strong sales growth and cost optimization efforts in Q2 2024, positioning itself for future profitability.
Expansion of distribution networks and product offerings signal market demand and growth potential for the company.
While challenges in achieving profitability persist, opportunities for growth through product expansion and operational efficiency improvements are evident.

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HAMILTON, Mont. , Feb. 21, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today that the United States Patent and Trademark Office issued a patent to the Company on February 13, 2024 for its proprietary Stack & Flow Technology.

Local Bounti Receives Patent for Stack & Flow Technology®

Company receives $15 million in cash from Cargill as part of amended credit facility New facilities begin to ramp  ̶  Washington seeded and Texas expected to commence seeding by end of January 2024  ̶  provides capacity for new product introductions to support long-term revenue diversification and expansion HAMILTON, Mont. , Jan. 24, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced that it has secured additional cash to fund working capital as part of its amended credit facility with Cargill Financial Services International, Inc. ("Cargill").

Local Bounti Amends Cargill Credit Facility and Receives Funds for Working Capital

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Board of Directors Re-Appoints Co-Founder Craig Hurlbert as Chief Executive Officer Georgia Facility Doubled Run-rate Production in December Provides Update to Full Year 2023 Sales Expectation HAMILTON, Mont. , Dec. 15, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced a leadership transition and a business update.

Local Bounti Announces Leadership Transition and Provides Business Update

Local Bounti Corporation (LOCL) came out with a quarterly loss of $3.02 per share versus the Zacks Consensus Estimate of a loss of $3.25. This compares to loss of $3.90 per share a year ago.

Local Bounti Corporation (LOCL) Reports Q3 Loss, Lags Revenue Estimates

Stack integration at Georgia facility complete, commenced operations in October 2023 Construction at Texas and Washington facilities remains on track Receives incremental financing commitments for working capital and future 2024 projects HAMILTON, Mont. , Oct. 30, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced its financial results for the three months ended September 30, 2023.

Local Bounti Announces Third Quarter 2023 Financial Results

HAMILTON, Mont., Oct. 30, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced it will release its financial results for the third quarter ended September 30, 2023 after the market closes on Monday, October 30, 2023.

Local Bounti to Release Third Quarter 2023 Financial Results on Monday, October 30, 2023

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the warrants of Local Bounti Corporation (the “Company”), thirteen exercisable for one share of common stock for $149.50 per share (the “Warrants”) — ticker symbol LOCL WS — from the NYSE. Trading in the Company's Warrants will be suspended immediately. Trading in the Company's common stock — ticker symbol LOCL — will.

NYSE to Commence Delisting Proceedings with Respect to the Warrants of Local Bounti Corporation (LOCL WS)

Local Bounti Corporation (NYSE:LOCL ) Q2 2023 Earnings Conference Call August 9, 2023 8:00 AM ET Company Participants Jeff Sonnek - SVP, ICR Anna Fabrega - CEO Kathleen Valiasek - CFO Conference Call Participants Kristen Owen - Oppenheimer Ben Klieve - Lake Street Capital Markets Brian Wright - ROTH MKM Operator Good morning, and welcome to the Local Bounti's Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode.

Local Bounti Corporation (LOCL) Q2 2023 Earnings Call Transcript

Local Bounti Corporation (LOCL) came out with a quarterly loss of $1.35 per share versus the Zacks Consensus Estimate of a loss of $3.07. This compares to loss of $4.68 per share a year ago.

Local Bounti Corporation (LOCL) Reports Q2 Loss, Tops Revenue Estimates

Construction on track at Georgia, Texas and Washington facilities Reaffirms full year 2023 guidance of $34 to $40 million   HAMILTON, Mont. , Aug. 9, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced its financial results for the three months ended June 30, 2023 and reaffirmed full year 2023 guidance.

Local Bounti Announces Second Quarter 2023 Financial Results

HAMILTON, Mont. , July 26, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced it will release its financial results for the second quarter ended June 30, 2023 before the market opens on Wednesday, August 9, 2023.

Local Bounti to Release Second Quarter 2023 Financial Results on Wednesday, August 9, 2023

Artisanal Chicken Caesar and Memphis Style BBQ Chicken Salad Kits to be available at select grocery stores beginning in June  HAMILTON, Mont. , May 31, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today the expansion of its Grab & Go Salad Kit line to include premium, antibiotic-free white meat chicken in two new recipes, marking a category innovation for the controlled environment agriculture industry.

Local Bounti Becomes First Indoor Grower to Offer Salads with Chicken in Expansion of Popular Grab & Go Salad Kit Lineup

Fabrega brings deep commercial and retail experience as former Freshly CEO and Amazon commerce executive Current Co-CEOs Craig Hurlbert and Travis Joyner to remain with the Company in leadership roles HAMILTON, Mont. , May 25, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, announced that Anna Fabrega, former Freshly CEO and Amazon executive, will become CEO of Local Bounti on June 5, 2023.

Local Bounti Announces Executive Transition, Names Anna Fabrega as CEO as Company Scales Sustainable Growing Technologies

Local Bounti Corporation (NYSE:LOCL ) Q1 2023 Earnings Conference Call May 10, 2023 8:00 AM ET Company Participants Jeff Sonnek - SVP, ICR Craig Hurlbert - Co-Founder, Co-CEO & Chairman Travis Joyner - Co-CEO & Director Brian Cook - President Kathleen Valiasek - CFO Conference Call Participants Colin Rusch - Oppenheimer Benjamin Klieve - Lake Street Capital Markets Chris Barnes - Deutsche Bank Brian Wright - ROTH MKM Operator Good morning, and welcome to the Local Bounti's First Quarter 2023 Earnings Conference Call. [Operator Instructions].

Local Bounti Corporation (LOCL) Q1 2023 Earnings Call Transcript

Local Bounti Corporation (LOCL) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.25. This compares to loss of $0.32 per share a year ago.

Local Bounti Corporation (LOCL) Reports Q1 Loss, Tops Revenue Estimates

Reaffirms full year 2023 guidance of $34 to $40 million HAMILTON, Mont. , May 10, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced its financial results for the three months ended March 31, 2023 and reaffirmed full year 2023 guidance.

Local Bounti Announces First Quarter 2023 Financial Results

Sale-leaseback of its two California facilities provides financing to support the Company's growth plans HAMILTON, Mont. , May 3, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced that it has completed its sale-leaseback transaction with an internally managed net-lease real estate investment trust, for approximately $35 million.

Local Bounti Completes Sale-leaseback Transaction, Provides Approximately $35 Million of Non-Dilutive Cash

HAMILTON, Mont. , April 27, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced it will release its financial results for the first quarter ended March 31, 2023 before the market opens on Wednesday, May 10, 2023.

Local Bounti to Release First Quarter 2023 Financial Results on Wednesday, May 10, 2023

Local Bounti Corporation (NYSE:LOCL ) Full Year 2022 Earnings Conference Call March 29, 2023 8:00 AM ET Company Participants Jeff Sonnek – Investor Relations Craig Hurlbert – Co-Chief Executive Officer Travis Joyner – Co-Chief Executive Officer Brian Cook – President Kathleen Valiasek – Chief Financial Officer Conference Call Participants Ben Klieve – Lake Street Capital Markets Kristen Owen – Oppenheimer Jeff Drezner – Morgan Stanley Operator Good morning, and welcome to the Local Bounti's Full Year 2022 Earnings Conference Call. All participants will be in listen-only mode.

Local Bounti Corporation (LOCL) Full Year 2022 Earnings Call Transcript

Amended agreement with Cargill provides additional $110 million to fund construction at Georgia, Texas and Washington facilities Signs sale-leaseback transaction for $35 million HAMILTON, Mont. , March 29, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced that it secured a total of up to $145 million of new financing across two sources – the first through an amendment to its credit facility agreements with Cargill Financial Services International, Inc. ("Cargill"); and the second, a sale-leaseback deal with an internally managed net-lease real estate investment trust.

Local Bounti Secures up to $145 Million of Additional Financing to Support Growth

Secures up to $145 million of new financing to support growth Financings provide $50 million of cash to the balance sheet for operations Provides full year 2023 sales guidance of $34 to $40 million HAMILTON, Mont. , March 29, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced its financial results for the three and twelve months ended December 31, 2022 and provided sales guidance for full year 2023.

Local Bounti Announces Full Year 2022 Financial Results

HAMILTON, Mont. , March 21, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced that Jennifer Carr-Smith has been appointed to the Company's Board of Directors ("Board") and will serve on the Compensation Committee of the Board, in each case effective May 15, 2023.

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