LIFECORE BIOMEDICAL, INC. \DE\
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Revenue recognition
- Revenue recognition
The Company disaggregates its revenue based on how it markets its products and services and reviews results of operations. The following table disaggregates revenues by major product lines and services:
| Three months ended | ||
|---|---|---|
| September 30,2025 | August 25,2024 | |
| CDMO | $21,749 | $20,180 |
| HA manufacturing | 9,360 | 4,525 |
| Total | $31,109 | $24,705 |
The following table disaggregates revenues by the timing of revenue recognition:
| Three months ended | ||
|---|---|---|
| September 30,2025 | August 25,2024 | |
| Revenues recognized over time | $4,533 | $5,876 |
| Revenues recognized at a point in time | 26,576 | 18,829 |
| Total | $31,109 | $24,705 |
During the three months ended September 30, 2025, the Company had revenue concentrations of 10% or greater from two customers, with those customers comprising 38% and 20% of revenue. During the three months ended August 25, 2024, the Company had revenue concentrations of 10% or greater from two customers, with those customers comprising 32% and 24% of revenue.
Contract assets primarily relate to the Company’s unconditional right to consideration for work completed but not billed at the reporting date. Contract liabilities primarily relate to payments received from customers in advance of performance under a contract.
The following table presents changes in contract assets and liabilities:
| Contract assets, current | Contract liabilities, current | Contract liabilities, noncurrent | |
|---|---|---|---|
| Balance at June 30, 2025 | $9,025 | $(5,195) | $(2,560) |
| Changes to the comparative balance sheet amount arising from: | |||
| Amounts billed as accounts receivable as the result of rights to consideration becoming unconditional | (4,965) | — | — |
| Recognition of revenue as the result of performance obligations satisfied | — | 412 | — |
| Reclassification of scheduled satisfaction of performance obligations from noncurrent to current due to passage of time | — | — | 1,487 |
| Net change to contract balances recognized after the comparative balance sheet date due to amounts billed, recognition of revenue, changes in estimate, reclassifications from noncurrent to current, and interest from significant financing component | 325 | (2,431) | (95) |
| Balance at September 30, 2025 | $4,385 | $(7,214) | $(1,168) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.