LIFECORE BIOMEDICAL, INC. \DE\
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
View on SEC.govAbout this filing
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, 2026 · Filed Nov 4, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Revenue recognition
- Revenue recognition
The following tables present disaggregated revenues:
| Three months endedSeptember 30, | Nine months endedSeptember 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| CDMO | $17,777 | $21,749 | $49,104 | $69,382 |
| HA manufacturing | 7,545 | 9,360 | 33,578 | 36,304 |
| Total | $25,322 | $31,109 | $82,682 | $105,686 |
| Revenues recognized over time | $6,209 | $4,533 | $14,894 | $15,705 |
| Revenues recognized at a point in time | 19,113 | 26,576 | 67,788 | 89,981 |
| Total | $25,322 | $31,109 | $82,682 | $105,686 |
Duringthe three months ended September 30, 2026, the Company had revenue concentrations of 10% or greater from two customers, with those customers comprising 46% and 10% of revenue. 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 nine months ended September 30, 2026, the Company had revenue concentrations of 10% or greater from two customers, accounting for 52% and 13%. During the nine months ended September 30, 2025, the Company had revenue concentrations of 10% or greater from two customers, accounting for 46% and 18%.
The following table presents changes in contract assets and liabilities:
| Contract assets | Contract liabilities, current | Contract liabilities, noncurrent | |
|---|---|---|---|
| Balance at December 31, 2025 | $7,655 | $(8,660) | $— |
| Changes to the beginning balance arising from: | |||
| Amounts billed as accounts receivable as the result of rights to consideration becoming unconditional | (6,711) | — | — |
| Recognition of revenue as the result of performance obligations satisfied | — | 7,309 | — |
| Estimated credit loss | (213) | — | — |
| Net change to contract balances recognized after the comparative balance sheet date due to amounts billed, recognition of revenue, changes in estimate, and interest from significant financing component | 9,544 | (3,308) | (1,811) |
| Balance at September 30, 2026 | $10,275 | $(4,659) | $(1,811) |
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