Lifecore Biomedical, Inc. · NASDAQ:LFCR
Lifecore Biomedical — Jefferies Global Healthcare Conference 2025
22 slides from Lifecore Biomedical's conference presentation, November 2025
Slide 1: Building a high-performing, growth-focused, sterile injectable CDMO
Building a high-performing, growth-focused, sterile injectable CDMO Jefferies Global Healthcare Conference November 2025
Slide 2: Fiscal Year Change
Fiscal Year Change On August 1, 2025, our Board of Directors approved a change in the Company’s fiscal year that ended on the last Sunday of May to a fiscal year that corresponds with the calendar year, ending on December 31st, effective for the fiscal period beginning May 26, 2025, and ending Decem
Slide 3: Important Information Regarding Forward-Looking Statements
Important Information Regarding Forward-Looking Statements This presentation includes forward-looking statements regarding future events and our future results that are subject to the safe harbor created under the Private Securities Litigation Reform Act of 1995 and other safe harbors under the Secu
Slide 4: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation contains non-GAAP financial information including Adjusted EBITDA. The Company has included a reconciliation of Adjusted EBITDA to net (loss) income, the most directly comparable financial measure calculated in accordance with GAAP. We define Adjusted EB
Slide 5: Lifecore at a Glance
Lifecore at a Glance Fully integrated 400 Approx. Founded in 1965 CDMO offering development and Leader in Sodium fill/finish of Hyaluronate (HA) Employees sterile injectable Inclusive, Performance- Global Regulatory pharmaceuticals Driven Culture Capabilities Strong Business Profile $128.9M $19.5M 1
Slide 6: Campus Overview
Campus Overview 248,000 State-of-the-art facilities, sqft within 2 square miles ~400 Employees Site 1 – HQ (Lyman Blvd.) Site 2 (Lakeview Drive) Site 3 (Shelby Court) 150,000 sqft 78,000 sqft 20,000 sqft Manufacturing Operations Manufacturing Operations Manufacturing Operations • Sodium hyaluronate
Slide 7: Executing Our Strategy to Drive Sustainable Growth
Executing Our Strategy to Drive Sustainable Growth Strong commercial foundation with long-term customer relationships High-potential late-stage development pipeline representing significant future recurring revenue opportunity Revamped commercial strategy positioned to drive impactful growth over th
Slide 8: Financial Highlights and Recent Developments
Financial Highlights Recent Developments • Ongoing preparation for existing commercial customer demand in 2027 including new HA Fiscal 2025 7-month Transition specification for Asian market and completion of Aseptic stability batches Financial Results Period 2025 Guidance • Four new programs signed
Slide 9: We Serve Large and Growing Markets with Strong Tailwinds
We Serve Large and Growing Markets with Strong Tailwinds Global CDMO Global Injectable CDMO $120B $10B Market1 Market1 +8% CAGR +10% CAGR GLP-1 Acceleration of US-based 50%+ $47B of Annual US Drug Manufacturing Market3 Approvals are Injectables2 Expected to Increase 10X 1. Jefferies September 2024 P
Slide 10: Significant Investment in Capabilities Supporting Growth
Significant Investment in Capabilities Supporting Growth $90M Invested over Previous Five Years • Significant growth CapEx complete – enables execution of mid-term plan • State-of-the-art, 5-head isolator filler – ~100% increase in annual production capacity* – Full isolator technology, state-of-the
Slide 11: The Lifecore Difference: Why We Win and Why They Stay
The Lifecore Difference: Why We Win and Why They Stay Technical Expertise Quality Integrated Model Decades of proven Multi-compendial Development to experience in complex regulatory system commercialization injectables 11
Slide 12: Aggressive and Achievable Growth Strategy
Aggressive and Achievable Growth Strategy Targeting 12% Revenue CAGR and Adjusted EBITDA Margins of 25%+ in Mid-Term • Strong commercial foundation • High-potential late-stage development pipeline • Revamped commercial strategy • Disciplined cost structure approach • Experienced and proven leadershi
Slide 13: Mid-Term and Long-Term Revenue Outlook
Mid-Term and Long-Term Revenue Outlook Revenue growth driven by maximization of existing customer base, portfolio commercialization, and new business $300M1 New Business ~12% CAGR $178M-$205M Portfolio Commercialization $129M Expansion of existing commercial contracts FY 2025 Mid-Term Long-Term Avai
Slide 14: Efficiency and Revenue Growth Drive Margin Improvement
Efficiency and Revenue Growth Drive Margin Improvement 25%+ Adj. EBITDA Margin New Portfolio business commercialization ~15% Adj. EBITDA Margin Operating Expansion of leverage Reduction existing in operating commercial expenses contracts FY 2025 Mid-Term For illustrative purposes only, timing, estim
Slide 15: Executing Three-Pronged Growth Strategy
Executing Three-Pronged Growth Strategy Maximizing Advancing Driving New Existing Customer Programs Towards Business Business Commercialization 15
Slide 16: Fill & Finish: Pathway to Doubling Commercial Demand
MAXIMIZING EXISTING CUSTOMER BUSINESS Fill & Finish: Pathway to Doubling Commercial Demand Commercial Unit Projection • Significant inflection point expected from total demand in 2027 ~2x • Largest customer’s injectable unit demand projected to more than double in 2027 • Potential upside to contract
Slide 17: Strong, Diverse Pipeline
ADVANCING PROGRAMS TOWARDS COMMERCIALIZATION Strong, Diverse Pipeline 1 Total Pipeline Represents Late Stage: 12 $150M - $200M Active Projects Early-Mid Stage: in Incremental Commercial Revenue Potential 20 • Impactful commercial revenue potential over the mid- and long-term • Strong development pro
Slide 18: Late-Stage Development Portfolio: Impactful Revenue Potential
ADVANCING PROGRAMS TOWARDS COMMERCIALIZATION Late-Stage Development Portfolio: Impactful Revenue Potential1 Customer Product Type 2026 2027 2028 2029 2030 Specialty Pharma Med Device Specialty Pharma* BLA Large Pharma Med Device Specialty Pharma NDA Specialty Pharma Med Device Specialty Pharma Med D
Slide 19: Attracting New High-Value Business
DRIVING NEW BUSINESS Attracting New High-Value Business Upgrading Strategically Leveraging sales/marketing expanding state-of-the-art strategy and target market capabilities talent • Increase in quality and quantity of business development pipeline • Added 9 new business wins in last 12 months • Rec
Slide 20: Key Takeaways
Key Takeaways Aggressive and Experienced High-Growth Capital Achievable Leadership & Market Expected Investments Growth Strategy Exceptional to Increase by Enable Clear of Both Top and Track Record 100% by 2030 Path to Scale Bottom Line of Success 20
Slide 21: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures To supplement the company’s financial results determined by U.S. generally accepted accounting principles (“GAAP”), the company has disclosed in the table below the following non-GAAP information about Adjusted EBITDA.1 Adjusted EBITDA is net (loss) inco
Slide 22: Thank you
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