---
schema_version: "secwatch.filing_event.v1"
accession: "0001840780-23-000029"
form_type: "8-K"
ticker: "LOCL"
cik: "0001840780"
company_name: "Local Bounti Corporation/DE"
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T23:19:17.236089+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Local Bounti Q2 sales $7.2M, net loss $10.7M; reaffirms FY2023 guidance $34-$40M

## Summary
- Sales $7.2M vs $6.3M YoY; gross profit $0.9M; adjusted gross margin ~28% excl. depreciation and non-recurring items.
- Net loss $10.7M vs $31.7M YoY; adjusted EBITDA loss $8.3M vs $7.9M prior year.
- Cash & restricted cash $40.4M; $66.6M available under Cargill credit facility; completed sale-leaseback netting ~$35M.
- Georgia Phase 1-C ~90% enclosed; Texas facility to begin Stack installation in Q3; Washington steel complete, glass installation progressing.
- Company expects to reach breakeven adjusted EBITDA by end of 2024 or early 2025.

## SEC filing metadata
- accession: 0001840780-23-000029
- form_type: 8-K
- ticker: LOCL
- cik: 0001840780
- company_name: Local Bounti Corporation/DE
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1840780/000184078023000029/0001840780-23-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1840780/000184078023000029/locl-20230809.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001840780-23-000029
- JSON: https://secwatch.observer/filing/0001840780-23-000029.json
- Plain text: https://secwatch.observer/filing/0001840780-23-000029.txt

## Key facts
- Earnings Releases
  Local Bounti Corporation/DE reported for the three months ended June 30, 2023 results: revenue $7.2 million, net income $10.7 million. Guidance reaffirmed.
  - Period: for the three months ended June 30, 2023
  - Revenue: $7.2 million
  - Net income: $10.7 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: of this process, we have taken immediate steps to optimize our resources and add key talent that will support our initiatives." Second Quarter 2023 Financial Summary • Sales of $7.2 million in the second quarter of 2023, as compared to $6.3 million in the prior year period. • Gross profit was $0.9 million in the second quarter of 2023. Adjusted gross margin
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840780/000184078023000029/0001840780-23-000029-index.htm

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