Revenue growth has decelerated to 14.9% in 2026Q1, while gross margins remain trapped in a narrow 9.4% to 14.3% range, failing to offset high fixed-cost production overhead.
| Sales/Revenue | 50.1M | 48.37M | 38.14M | 27.56M | 19.47M | 638K | 82K | 0 |
| Revenue Growth % | 21.12% | 26.82% | 38.4% | 41.51% | 2952.35% | 678.05% | - | - |
| Cost of Goods Sold | 44.16M | 42.51M | 34.05M | 25.34M | 17.26M | 432K | 91K | 0 |
| COGS % of Revenue | - | 87.88% | 89.28% | 91.96% | 88.63% | 67.71% | 110.98% | - |
| Gross Profit | 5.93M | 5.86M | 4.09M | 2.22M | 2.21M | 206K | -9K | 0 |
| Gross Margin % | 11.84% | 12.12% | 10.72% | 8.04% | 11.37% | 32.29% | -10.98% | - |
| Gross Profit Growth % | - | 43.28% | 84.57% | 0.05% | 975.24% | 2388.89% | - | - |
| Operating Expenses | 66.76M | 68.49M | 63.06M | 119.13M | 96.74M | 44.92M | 7.91M | 3.37M |
| OpEx % of Revenue | - | 141.6% | 165.34% | 432.29% | 496.77% | 7041.22% | 9650% | - |
| Selling, General & Admin | 43.73M | 42.91M | 40.77M | 64.56M | 82.68M | 41.5M | 6.83M | 0 |
| SG&A % of Revenue | - | 88.73% | 106.9% | 234.27% | 424.58% | 6504.39% | 8334.15% | - |
| Research & Development | 24.31M | 25.57M | 22.29M | 16.09M | 14.06M | 3.42M | 1.08M | 0 |
| R&D % of Revenue | - | 52.88% | 58.44% | 58.37% | 72.19% | 536.83% | 1315.85% | - |
| Other Operating Expenses | 1000K | 0 | 0 | 38.48M | 0 | 0 | 0 | 3.37M |
| Operating Income | -60.83M | -62.63M | -58.97M | -116.91M | -94.53M | -44.72M | -7.92M | -3.37M |
| Operating Margin % | -121.42% | -129.49% | -154.62% | -424.25% | -485.4% | -7008.93% | -9660.98% | - |
| Operating Income Growth % | - | -6.21% | 49.56% | -23.68% | -111.39% | -464.47% | -135.28% | - |
| EBITDA | -43.51M | -39.43M | -40.1M | -103.78M | -84.1M | -44.03M | -7.63M | 0 |
| EBITDA Margin % | -86.85% | -81.53% | -105.14% | -376.59% | -431.85% | -6901.72% | -9310.98% | - |
| EBITDA Growth % | -1.47% | 1.66% | 61.36% | -23.4% | -90.99% | -476.73% | - | - |
| D&A (Non-Cash Add-back) | 17.32M | 23.2M | 18.87M | 13.13M | 10.43M | 684K | 287K | 3.37M |
| EBIT | -57.31M | -62.21M | -60.98M | -98.27M | -94.34M | -49.48M | -7.89M | -3.37M |
| Net Interest Income | -9.29M | -32.17M | -58.92M | -25.75M | -16.73M | -6.62M | -522K | 39K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 39K |
| Interest Expense | 9.29M | 32.17M | 58.92M | 25.75M | 16.73M | 6.62M | 522K | 0 |
| Other Income/Expense | -8.6M | -31.75M | -60.93M | -7.11M | -16.55M | -11.38M | -487K | -39K |
| Pretax Income | -69.42M | -94.38M | -119.9M | -124.02M | -111.07M | -56.09M | -8.41M | -3.41M |
| Pretax Margin % | -138.58% | -195.14% | -314.39% | -450.03% | -570.36% | -8792.01% | -10254.88% | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -69.42M | -94.38M | -119.9M | -124.02M | -111.07M | -56.09M | -8.41M | -3.41M |
| Net Margin % | -138.58% | -195.14% | -314.39% | -450.03% | -570.36% | -8792.01% | -10254.88% | - |
| Net Income Growth % | 48.01% | 21.29% | 3.32% | -11.65% | -98.01% | -567.06% | -146.89% | - |
| Net Income (Continuing) | -69.42M | -94.38M | -119.9M | -124.02M | -111.07M | -56.09M | -8.41M | -3.41M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.88 | -4.04 | -14.14 | -15.61 | -13.92 | -8.45 | -2.20 | -4.41 |
| EPS Growth % | 74.12% | 71.43% | 9.42% | -12.14% | -64.73% | -284.09% | 50.11% | - |
| EPS (Basic) | - | -4.04 | -14.14 | -15.61 | -13.92 | -8.45 | -2.22 | -4.41 |
| Diluted Shares Outstanding | 24.13M | 23.47M | 8.48M | 7.94M | 7.98M | 6.64M | 3.82M | 771.79K |
| Basic Shares Outstanding | 24.13M | 23.47M | 8.48M | 7.94M | 7.98M | 6.64M | 3.78M | 771.79K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Imminent liquidity shortfall
According to recent financial filings, Local Bounti's year-over-year revenue growth has decelerated from a peak of 50.4% in 2024Q3 to 14.9% in 2026Q1, suggesting that the initial momentum from aggressive retail door expansion and the integration of acquired assets is beginning to face significant headwinds.
The transition from high double-digit growth to mid-teens expansion indicates that the company may be reaching a saturation point in its current geographic footprint. Investors should monitor whether this deceleration reflects a broader cooling in consumer demand for premium-priced CEA produce or if it signals operational bottlenecks in scaling the Stack & Flow architecture.
As reported in quarterly statements, Local Bounti's gross margin has remained stubbornly range-bound between 9.4% and 14.3% over the last ten quarters, failing to demonstrate the economies of scale necessary to offset the high fixed-cost nature of its climate-controlled agricultural production facilities.
The inability to expand gross margins despite consistent revenue growth suggests that variable costs, such as energy and labor, are scaling linearly with output. This lack of margin expansion implies that the proprietary Stack & Flow technology has yet to deliver the anticipated cost efficiencies required to compete effectively with traditional field-grown produce.
Based on the provided income statement data, Local Bounti continues to exhibit extreme negative operating leverage, with operating margins consistently hovering near -100% to -176%, indicating that corporate overhead and facility-related expenses are vastly outpacing the company's ability to generate gross profit from its current revenue base.
The persistent gap between gross profit and operating expenses suggests that the company's current infrastructure is significantly oversized relative to its actual production output. Without a radical reduction in SG&A or a massive increase in throughput, the company appears unlikely to achieve operating break-even in the near term.
Data from recent SEC filings reveals that Local Bounti's cash and equivalents have dwindled to $4.2 million, a figure that appears insufficient to sustain the company's ongoing operating losses, which totaled over $62 million in the trailing twelve-month period, raising serious questions about the firm's long-term viability.
Short-sellers would likely focus on the disconnect between the company's aggressive capital expenditure and its inability to generate positive cash flow from operations. The reliance on external financing in a high-rate environment poses a material risk that the company may be forced into dilutive equity raises or distressed debt restructuring.
Quick answers to the most common questions about buying LOCL stock.
For fiscal year 2025, Local Bounti Corporation (LOCL) reported total revenue of $48.4M.
Local Bounti Corporation (LOCL) reported a net loss of $94.4M for the fiscal year ending 2025.
Local Bounti Corporation (LOCL) reported an operating income of $-62.6M, resulting in an operating profit margin of -129.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Local Bounti Corporation (LOCL) generated $5.9M in gross profit for the year, representing a gross profit margin of 12.1%. This demonstrates the company's core pricing power and production efficiency.