Local Bounti Q2 revenue +31% to $9.4M; net loss $25.3M; reiterates FY guidance

Local Bounti Corporation/DE

2024-Q2 EPS reported -$5.89 revenue$17,826,000

Revenue $9.4M (+31% YoY); operating loss improved to $13.9M from $19.4M.
Net loss $25.3M vs $10.7M (prior-year included $15.2M non-cash warrant benefit); adj. EBITDA loss $7.5M.
Reiterates FY2024 sales guidance $50-60M; targets positive adjusted EBITDA early 2025.
Negotiating up to $175M additional financing (total ~$400M) for expansion and working capital; closing expected Q3 2024.
Began shipping to Sam's Club (6 DCs) and Brookshire's from new Texas facility; Salad Kits expanding to ~700 doors.

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