secwatch.observer — SEC 8-K summary
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Issuer:     Local Bounti Corporation/DE (LOCL)
CIK:        0001840780
Form:       8-K
Filed at:   2022-08-15T23:59:59+00:00
Accession:  0001628280-22-022773
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Local Bounti Q2 revenue $6.3M, net loss $31.7M; reaffirms FY2022 guidance of at least $20M
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- Revenue of $6.3M vs $0.1M prior year; gross profit negative $12K; adjusted gross margin ~38%.
- Net loss $31.7M; adjusted EBITDA loss $7.9M (excl. $11.7M stock-based comp, $5.5M interest).
- Georgia Phase 1-A commenced commercial ops July 2022; Phase 1-B construction started, completion expected Q2 2023.
- Texas selected as next facility site; Pasco, WA construction to recommence September 2022.
- FY2022 sales guidance reaffirmed at at least $20M (includes partial Pete's acquisition contribution).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840780/000162828022022773/0001628280-22-022773-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840780/000162828022022773/locl-20220815.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-022773

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