Local Bounti Corporation/DE
For the period ended Nov 12, 2025. Filed Nov 12, 2025.
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Nov 12, 2025 · Filed Nov 12, 2025
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LOCL$0.87-3.9%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (in thousands, except per share data)
(in thousands, except per share data)
| Three Months Ended September 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Sales | $12,200 | $10,242 | $35,908 | $28,068 |
| Cost of goods sold(1)(2) | 10,794 | 8,829 | 31,569 | 24,518 |
| Gross profit | 1,406 | 1,413 | 4,339 | 3,550 |
| Operating expenses: | ||||
| Research and development(1)(2) | 6,677 | 7,096 | 20,139 | 15,102 |
| Sales and marketing(1)(2) | 2,441 | 1,991 | 6,947 | 5,872 |
| General and administrative(1)(2) | 10,509 | 10,357 | 26,658 | 24,770 |
| Total operating expenses | 19,627 | 19,444 | 53,744 | 45,744 |
| Loss from operations | (18,221) | (18,031) | (49,405) | (42,194) |
| Other income (expense): | ||||
| Change in fair value of warrant liability | (3,358) | 1,921 | (8,367) | (1,163) |
| Interest expense, net | (4,560) | (18,312) | (28,000) | (40,420) |
| Other (expense) income | (291) | 95 | 90 | 133 |
| Net loss | (26,430) | (34,327) | (85,682) | (83,644) |
| Less: Deemed dividend to preferred stockholders | — | — | 403 | — |
| Net loss attributable to common stockholders | $(26,430) | $(34,327) | $(86,085) | $(83,644) |
| Net loss applicable to common stockholders per basic common share: | ||||
| Basic and diluted | $(1.18) | $(4.01) | $(5.78) | $(9.91) |
| Weighted average common shares outstanding: | ||||
| Basic and diluted | 22,481,564 | 8,568,970 | 14,903,536 | 8,436,727 |
(1)Amounts include stock-based compensation as follows:
| Three Months Ended September 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Cost of goods sold | $16 | $15 | $102 | $75 |
| Research and development | 47 | 86 | 208 | 250 |
| Sales and marketing | 59 | 61 | 341 | (64) |
| General and administrative | 1,129 | 1,225 | 3,450 | 1,840 |
| Total stock-based compensation expense, net of amounts capitalized | $1,251 | $1,387 | $4,101 | $2,101 |
(2)Amounts include depreciation and amortization as follows:
| Three Months Ended September 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Cost of goods sold | $2,094 | $1,642 | $6,057 | $4,197 |
| Research and development | 2,342 | 2,852 | 7,557 | 5,031 |
| General and administrative | 1,415 | 1,374 | 3,973 | 3,757 |
| Total depreciation and amortization | $5,851 | $5,868 | $17,587 | $12,985 |
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