LIFECORE BIOMEDICAL, INC. \DE\
For the period ended Sep 18, 2025. Filed Sep 18, 2025.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Sep 18, 2025 · Filed Sep 18, 2025
Contents
APPENDIX A
Non-GAAP Financial Reconciliations
Adjusted EBITDA is a non-GAAP financial measure. For fiscal year ended May 25, 2025, Adjusted EBITDA is defined as net income or loss before (i) interest expense, net of interest income, (ii) income tax expense, (iii) depreciation and amortization, (iv) stock-based compensation, (v) change in fair value of debt derivatives, (vi) financing fees, (vii) loss on sale or disposal of assets, (viii) reorganization costs, (ix) restructuring (recovery) costs, (x) franchise tax equivalent to income tax, and (xi) stockholder activist settlement costs.
| (in thousands) (unaudited) | Year ended May 25, 2025 |
|---|---|
| Net loss (GAAP) | $(38,717) |
| Interest expense, net | 21,835 |
| Income tax expense | 43 |
| Depreciation and amortization | 8,027 |
| Stock-based compensation | 10,158 |
| Change in fair value of debt derivatives | (409) |
| Financing fees | 643 |
| Loss on sale or disposal of assets | 7,729 |
| Reorganization costs (a) | 10,481 |
| Restructuring (recovery) costs (a) | (1,747) |
| Franchise tax equivalent to income tax | 178 |
| Stockholder activist settlement (a) | 1,260 |
| Adjusted EBITDA | $19,481 |
(a)Restructuring, reorganization and stockholder activist settlement costs of $10.0 million were incurred for the year ended May 25, 2025. These costs primarily related to elevated accounting fees associated with the fiscal year 2024 audit, legal expenses, consulting fees, severance costs from the restructuring reductions in force and former CEO in fiscal year 2024 and former CFO departure in fiscal year 2025, and the favorable reversal of a historical lease obligation.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.