Slide 1: Local Bounti Announces Second Quarter 2026 Financial Results
August 12, 2026 Local Bounti Announces Second Quarter 2026 Financial Results Delivered 14% Revenue Growth, Improved Net Loss, and 17% Improvement in Adjusted EBITDA Loss Announces Additional $12.5 Million Investment from Existing Strategic Investor HAMILTON, Mont., Aug. 12, 2026 /PRNewswire/ -- Loca
Slide 2: Retail Relationships and Strategic Investment
delivering, and to that end, we continued to build on our base of blue-chip retail relationships, adding five new or expanded retail partnerships over the past two quarters and extending supply agreements with multiple national accounts through first quarter of 2027. Furthermore, in August, our exis
Slide 3: Product Development
Product Development Following discussions with a major retailer in the second quarter of 2026, Local Bounti is relaunching its Single Serve Salad Kit line and agreed with the retailer to a pilot launch throughout the Mid-Atlantic region in approximately 400 stores in the fall of 2026. The Company ex
Slide 4: Yield Improvement and Cost Reduction Initiatives
The Company continues to advance its yield improvement and cost reduction initiatives across its facility network. Tower upgrades were completed at its Georgia, Texas and Washington facilities during the fourth quarter of 2025, which resulted in enhanced production efficiency and an approximate 10%
Slide 5: Financial Outlook
approximately 42.5 million shares outstanding as of June 30, 2026. Financial Outlook The Company expects continued sequential improvements in revenue and adjusted EBITDA loss rate in 2026, driven by ongoing sales growth, cost reduction initiatives, and the ramp of its facilities network. Achieving p
Slide 6: Forward-Looking Statements
subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied in this press release. The following factors, among others, could cause actual results to diff
Slide 7: Non-GAAP Definitions
gross margin percentage and adjusted general and administrative expense, which are adjusted from results based on generally accepted accounting principles in the United States ("GAAP") and exclude certain expenses, gains, and losses. The Company defines and calculates adjusted EBITDA as net loss att
Slide 8: Consolidated Balance Sheets
Financing obligation 606 762 Operating lease liabilities 33 32 Finance lease liabilities 111 81 Total current liabilities 21,717 16,310 Long-term debt Principal amount 328,308 312,250 Plus: Debt premium, net of amortization 168,238 172,368 Less: Debt discount, net of amortization (7,267) (1,498) Lon
Slide 9: Reconciliation of GAAP to Non-GAAP Financial Information
(1) Amounts include stock-based compensation as follows: Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Cost of goods sold $ 23 $ 75 $ 44 $ 86 Research and development 23 145 51 161 Sales and marketing 43 245 86 282 General and administrative 906 1,795 1,807 2,321 Total st
Slide 10: Reconciliation of Net Loss to Adjusted EBITDA
Business acquisition and strategic transaction due diligence and integration related costs (115) — (744) (96) Litigation and other non-recurring charges (1,228) — (2,064) (311) Restructuring and business realignment costs (185) — (257) (75) Adjusted general and administrative $ 4,116 $ 4,973 $ 8,182