---
schema_version: "secwatch.filing_event.v1"
accession: "0001840780-23-000019"
form_type: "8-K"
ticker: "LOCL"
cik: "0001840780"
company_name: "Local Bounti Corporation/DE"
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T07:03:28.087720+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Local Bounti Q1 sales $6.7M; reaffirms FY2023 guidance $34-40M

## Summary
- Sales grew to $6.7M from $0.3M; net loss $23.5M vs $25.8M prior year.
- Adjusted EBITDA loss $7.4M; reaffirms FY2023 sales guidance $34-40M.
- Cash $7.5M; $116.5M undrawn Cargill credit; completed $35M sale-leaseback in April 2023.
- Georgia Stack integration on track for Q4 2023; Texas facility to commence Q4 2023; Washington Q1 2024.
- Entered term sheets for up to $90M USDA debt; expects first $35M closing in Q2 2023.

## SEC filing metadata
- accession: 0001840780-23-000019
- form_type: 8-K
- ticker: LOCL
- cik: 0001840780
- company_name: Local Bounti Corporation/DE
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1840780/000184078023000019/0001840780-23-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1840780/000184078023000019/locl-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001840780-23-000019
- JSON: https://secwatch.observer/filing/0001840780-23-000019.json
- Plain text: https://secwatch.observer/filing/0001840780-23-000019.txt

## Key facts
- Earnings Releases
  Local Bounti Corporation/DE reported the three months ended March 31, 2023 results: revenue $6.7 million, net income $23.5 million. Guidance reaffirmed.
  - Period: the three months ended March 31, 2023
  - Revenue: $6.7 million
  - Net income: $23.5 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: that we have the funding required to drive the business and achieve breakeven adjusted EBITDA by the end of 2024 or early 2025." First Quarter 2023 Financial Summary • Sales of $6.7 million in the first quarter of 2023, as compared to $0.3 million in the prior year period. • Gross profit was $0.3 million in the first quarter of 2023. Adjusted gross margin percentage
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840780/000184078023000019/0001840780-23-000019-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.