{"schema_version":"secwatch.filing_event.v1","accession":"0001840780-24-000004","form_type":"8-K","ticker":"LOCL","cik":"0001840780","company_name":"Local Bounti Corporation/DE","filed_at":"2024-03-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.913557+00:00","generated_at":"2026-06-04T07:21:49.925143+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Local Bounti FY 2023 sales +42% to $27.6M; net loss $124M; prelim Q1 2024 rev ~$8.4M","bullets":["Sales grew 42% YoY to $27.6M; adjusted gross margin ~27%; net loss of $124.0M includes $38.5M goodwill impairment.","Preliminary Q1 2024 revenue ~$8.4M, up 22% sequentially from Q4 2023, driven by Georgia facility throughput gains.","Expects to close ~$228M financing in Q2 2024 to fund expansions, repay construction debt, and greenfield Midwest facility.","Georgia facility packed volume 3x vs. a year ago; Texas and Washington facilities commenced operations, shipping expected Q2 2024.","Company targeting positive adjusted EBITDA in early 2025, lowered annualized overhead by ~$5M from restructuring."],"urls":{"canonical":"https://secwatch.observer/filing/0001840780-24-000004","json":"https://secwatch.observer/filing/0001840780-24-000004.json","markdown":"https://secwatch.observer/filing/0001840780-24-000004.md","text":"https://secwatch.observer/filing/0001840780-24-000004.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1840780/000184078024000004/0001840780-24-000004-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1840780/000184078024000004/locl-20240327.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T07:21:49.925143+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d4f41f0e1ac5517791d1333206f6419843cd6eb8","claim":"Local Bounti Corporation/DE reported the three and twelve months ended December 31, 2023 results: revenue $27.6 million, net income $124.0 million.","evidence_excerpt":"scale from our capacity expansions in 2024 has us on track to drive positive adjusted EBITDA 1 in early 2025.\" Full Year 2023 Financial Summary • Sales increased 42% to $27.6 million in 2023, as compared to $19.5 million in the prior year period. The increase was primarily due to inclusion of the April 2022 Pete's acquisition in our results for the full","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078024000004/0001840780-24-000004-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three and twelve months ended December 31, 2023"},{"label":"Revenue","value":"$27.6 million"},{"label":"Net income","value":"$124.0 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}