Local Bounti Corporation/DE

For the period ended Dec 31, 2024. Filed Mar 31, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 31, 2025

LOCL$0.78-2.8%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Operations for the Years Ended and

(in thousands, except per share data)

	Year Ended December 31,
	2024	2023
Sales	$38,138	$27,557
Cost of goods sold(1)(2)	34,048	25,341
Gross profit	4,090	2,216
Operating expenses:
Research and development(1)(2)	22,287	16,086
Selling, general and administrative(1)(2)	40,771	64,559
Goodwill impairment	—	38,481
Total operating expenses	63,058	119,126
Loss from operations	(58,968)	(116,910)
Other income (expense):
Change in fair value of warrant liability	811	18,483
Interest expense, net	(58,923)	(25,745)
Other (expense) income, net	(2,822)	157
Net loss	$(119,902)	$(124,015)
Net loss applicable to common stockholders per common share:
Basic and diluted	$(14.14)	$(15.61)
Weighted average common shares outstanding:
Basic and diluted	8,480,247	7,943,874

(1)Amounts include stock-based compensation as follows:

	Year Ended December 31,
	2024	2023
Cost of goods sold	$73	$123
Research and development	274	1,464
Selling, general and administrative	3,001	14,687
Total stock-based compensation expense, net of amounts capitalized	$3,348	$16,274

(2)Amounts include depreciation and amortization as follows:

	Year Ended December 31,
	2024	2023
Cost of goods sold	$6,137	$3,513
Research and development	7,631	2,505
Selling, general and administrative	5,103	7,114
Total depreciation and amortization	$18,871	$13,132

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.