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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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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Announces preliminary and unaudited fiscal 2022 sales of $19.5 million, adjusted gross margin* of 38%, net loss of $111.1 million, and adjusted EBITDA loss* of $29.8 million Company to hold fiscal 2022 earnings conference call on March 29, 2023 at 8 am ET HAMILTON, Mont. , March 17, 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 amended its existing credit facility with Cargill Financial Services, Inc. ("Cargill").

Local Bounti Amends Credit Agreement to Provide Additional Flexibility and Provides Select Preliminary and Unaudited Fiscal 2022 Performance

HAMILTON, Mont. , March 17, 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 fiscal full year ended December 31, 2022 before the market opens on Wednesday, March 29, 2023.

Local Bounti to Release Fiscal Full Year 2022 Financial Results on Wednesday, March 29, 2023

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Local Bounti and AppHarvest are both US-based controlled environment agriculture companies that went public in 2021 through the SPAC phenomenon. Both companies have seen their valuations get significantly discounted over the last 12 months on the back of rising interest rates, continued net losses, and the risk-off environment.

Local Bounti Vs. AppHarvest: Which Sustainable Farmer Will Grow Alpha?

Premium lettuce wrap kit features living butter lettuce grown with innovative indoor agriculture method, offering consumers a fresh, restaurant quality meal at home in about five minutes HAMILTON, Mont., Jan. 11, 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 the launch of its chef-inspired Asian Style Chicken Lettuce Wrap Kit, a restaurant-quality meal solution that is prepared at home in about 5 minutes, at 194 Sprouts Farmers Markets (NASDAQ: SFM) locations in California and Arizona.

Local Bounti Introduces Asian Style Chicken Lettuce Wrap Kit Featuring Greenhouse-Grown Living Butter Lettuce

Currently operating the largest national distribution footprint in the industry, future operations in Texas signal Local Bounti's commitment to reduce food miles throughout the United States HAMILTON, Mont. , Jan. 4, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS), a leading U.S. controlled environment agriculture (CEA) company committed to growing locally and distributing nationally with the largest distribution footprint in the industry, today announced plans to construct and operate a new state-of-the-art indoor facility in Mount Pleasant, Texas.

Local Bounti Breaks Ground at New High-Tech Controlled Environment Agriculture Facility in Texas to Support Growing Demand

Local Bounti Corporation (NYSE:LOCL ) Q3 2022 Earnings Call Transcript November 10, 2022 8:00 AM ET Company Participants Jeff Sonnek - Managing Director, ICR 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 Colin Rusch - Oppenheimer Brian Wright - ROTH Capital Partners Christopher Barnes - Deutsche Bank Pamela Kaufman - Morgan Stanley Operator Good morning, and welcome to the Local Bounti's Third Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode.

Local Bounti Corporation (LOCL) Q3 2022 Earnings Call Transcript

Third quarter revenue of $6.3 million, compared to $0.2 million in the prior year period Previously announced 5-year offtake agreement with Sam's Club for Local Bounti's leafy greens production Reaffirms full year 2022 guidance HAMILTON, Mont. , Nov. 10, 2022 /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 third quarter 2022 results for the three months ended September 30, 2022 and reaffirmed its full year 2022 guidance.

Local Bounti Announces Third Quarter 2022 Financial Results

5-year offtake agreement for Local Bounti's leafy greens production HAMILTON, Mont. , Nov. 7, 2022 /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 an offtake agreement (the "Agreement") with Sam's Club for its leafy greens production starting at its advanced greenhouse facility in Byron, Georgia.

Local Bounti Announces Partnership with Sam's Club to Deliver Fresh Produce in New Regions

HAMILTON, Mont. , Nov. 3, 2022 /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 third quarter ended September 30, 2022 before the market opens on Thursday, November 10, 2022.

Local Bounti to Release Third Quarter 2022 Financial Results on Thursday, November 10, 2022

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Entered into Agreement for $23.3 million PIPE with Fidelity Management & Research Company, BNP Paribas and other existing investors including management HAMILTON, Mont. , Oct. 24, 2022 /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 an equity raise to support the continued scale-up of its organization and build-out of its network of innovative Controlled Environment Agriculture ("CEA") facilities that leverage its proprietary Stack & Flow Technology™ to significantly improve crop turns, increase output and improve unit economics.

Local Bounti Announces PIPE Financing to Support Long-term Growth Strategy

IFPA attendees can sample and experience chef-inspired, grab-and-go salads utilizing Local Bounti's sustainably and locally grown lettuces HAMILTON, Mont. , Oct. 19, 2022 /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 showcase its recently launched chef-inspired, grab-and-go salads at The International Fresh Produce Association (IFPA) Global Produce & Floral Show in Orlando, Florida on October 27-29, 2022.

Local Bounti to Showcase New Restaurant Quality, Grab-And-Go Salads at IFPA Global Produce Show

New premium salads use greens grown with innovative indoor farming technique, resulting in fresher, better-tasting, and longer-lasting meals HAMILTON, Mont. , Oct. 11, 2022 /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 the launch of its chef-inspired, grab-and-go salads utilizing its own sustainably and locally grown lettuces.

Local Bounti Launches Restaurant Quality, Grab-And-Go Salads with Longer-Lasting Lettuce

Innovative Stack & Flow Technology™ Wins Award for Achieving Significant Sustainability Breakthroughs in Farming HAMILTON, Mont. , Sept. 6, 2022 /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 it has been awarded The Sustainability Leadership Award by the Business Intelligence Group as part of the 2022 BIG Sustainability Awards.

Local Bounti Named Global Sustainability Leader by Business Intelligence Group

Local Bounti Corporation (NYSE:LOCL ) Q2 2022 Results Conference Call August 15, 2022 8:00 AM ET Company Participants Craig Hurlbert - Co-Chief Executive Officer and Chairman of the Board Jeff Sonnek - Managing Director, ICR Brian Cook - President Travis Joyner - Co-Chief Executive Officer and Director Kathleen Valiasek - Chief Financial Officer Conference Call Participants Ben Klieve - Lake Street Capital Markets Brian Wright - ROTH Capital Partners Kristen Owen - Oppenheimer Christopher Barnes - Deutsche Bank Pamela Kaufman - Morgan Stanley Operator Good morning, and welcome to the Local Bounti's Second Quarter 2022 Earnings Conference Call. [Operator Instructions] Please also note today's event is being recorded.

Local Bounti Corporation (LOCL) CEO Craig Hurlbert on Q2 2022 Results - Earnings Call Transcript

Second quarter revenue of $6.3 million, compared to $0.1 million in the prior year period Georgia facility commenced commercial operations in July 2022 Announces Texas as location of next facility Reaffirms full year 2022 guidance HAMILTON, Mont. , Aug. 15, 2022 /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 second quarter 2022 results for the three months ended June 30, 2022 and reaffirmed full year 2022 guidance.

Local Bounti Announces Second Quarter 2022 Financial Results

HAMILTON, Mont. , Aug. 8, 2022 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) (NYSE: 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, 2022 before the market opens on Monday, August 15, 2022.

Local Bounti to Release Second Quarter 2022 Financial Results on Monday, August 15, 2022

Innovative new CEA facility combines vertical and greenhouse technologies to grow sustainable produce year-round that lasts 3-5 times longer while using 90% less water and land Enhances East Coast presence to support demand from existing blue-chip retail customer base, including Albertsons, Kroger, Target, and Walmart, as well as Whole Foods and AmazonFresh HAMILTON, Mont. , July 14, 2022 /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 the commencement of farming operations at its new innovative controlled environment agriculture (CEA) facility in Byron, Georgia.

Local Bounti Completes Construction of and Opens New High-Tech Controlled Environment Agriculture Facility in Georgia to Support Growing Demand

HAMILTON, Mont. , June 27, 2022 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL.WT) ("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 the Company will join the Russell 2000® Index after the conclusion of the 2022 annual reconstitution which will go into effect after the US market opens today, Monday, June 27, 2022.

Local Bounti Joins the Russell 2000® Index

Local Bounti's fiscal 2022 first quarter results were somewhat uneventful. The company has made a transformation acquisition of California-based controlled environment agriculture company Pete's.

Local Bounti: Sustainable Farming, Unsustainable Financials

HAMILTON, Mont. , June 1, 2022 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL.WT) ("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 will be participating virtually in the Cowen 2nd Annual Sustainability & Energy Transition Summit to be held on June 7-8, 2022.

News for Local Bounti Corp Stock (LOCL)