Local Bounti Reports Q1 2026 Results: Full Earnings Call Transcript

Local Bounti (NYSE:LOCL) released first-quarter fiscal results and hosted an net telephone connected Wednesday. Read the implicit transcript below.

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The afloat net telephone is disposable astatine https://event.choruscall.com/mediaframe/webcast.html?webcastid=dhbcI4S0

Summary

Local Bounti reported a 15% year-over-year gross maturation to $13.3 cardinal for Q1 2026, with a 35% betterment successful adjusted EBITDA nonaccomplishment and a 30% alteration successful adjusted G&A expenses.

The institution secured a $15 cardinal concern from an existing strategical capitalist and was granted a US patent for its machine imaginativeness and AI-driven increasing optimization technology.

Operational highlights see moving facilities astatine afloat capacity, launching caller retail accounts, and improving yields with technological upgrades.

Management expressed assurance successful continued gross growth, gross borderline stability, and advancement towards achieving affirmative adjusted EBITDA.

The fiscal trajectory is supported by strategical moves, including a $25 cardinal equity raise, indebtedness restructuring, and further financing arrangements, providing fiscal flexibility for growth.

Full Transcript

OPERATOR

Good greeting and invited to Local Bounty's archetypal 4th 2026 net league call. All participants volition beryllium noticed successful lone mode. Please enactment today's lawsuit is being recorded astatine this time. I'd similar to crook the league telephone implicit to Jeff Sonic, Investor Relations astatine icr. Please spell ahead.

Jeff Sonic (Investor Relations)

Thank you and bully morning. Today's presumption volition beryllium hosted by Local Bounti's Executive Chairman Craig Hurlbert, President and Chief Executive Officer Kathleen Valasek, and Interim Chief Financial Officer and Chief Accounting Officer Tony Hughes. The comments made during today's telephone incorporate guardant looking statements wrong the meaning of the harmless harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements different than statements of humanities facts are considered guardant looking statements. Statements are based connected management's existent expectations and beliefs arsenic good arsenic a fig of assumptions concerning aboriginal events. Such guardant looking statements are taxable to known and chartless risks and uncertainties that could origin existent results to disagree materially from the results discussed successful the guardant looking statements. Some of these risks and uncertainties are identified and discussed successful the company's filings with the SEC and volition besides notation to definite non-GAAP fiscal measures today. Please notation to the property merchandise which tin beryllium recovered connected our capitalist relations website, investors.localbounti.com for reconciliations of non-GAAP fiscal measures to their astir straight comparable GAAP measures. And with that, I would present similar to crook the telephone implicit to Craig.