Local Bounti Corporation
- Open
- 1.00
- Day high
- 1.07
- Day low
- 1.00
- Prev close
- 0.99
- Volume
- 54K
- Mkt cap
- $24M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -0.1
- P/S
- 0.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$29K over the last 3 months (2 open-market buys, 1 sale)
- 🏛Institutions reducing (13F)
Local Bounti Corporation (LOCL) is a Consumer Defensive company listed on NYSE. The stock is down 53% over the past year. Over the trailing 3 months, insiders filed 2 open-market buys and 1 sale (SEC Form 4).
Local Bounti Corporation (LOCL) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LOCL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 12, 2026 | $-0.50 | $-0.68 | -36.0% | $14M | -37.0% |
| May 13, 2026 | $-0.53 | $-0.53 | +0.0% | $13M | -29.8% |
| Mar 25, 2026 | $-0.60 | $-0.38 | +36.7% | $12M | -17.0% |
| Nov 12, 2025 | $-0.65 | $-1.18 | -81.5% | $12M | -2.4% |
| Aug 13, 2025 | $-1.95 | $-1.63 | +16.4% | $12M | -4.7% |
| Mar 31, 2025 | $-3.89 | $-4.21 | -8.2% | $10M | -8.0% |
| Nov 14, 2024 | $-2.78 | $-4.01 | -44.2% | $10M | -6.5% |
| Aug 13, 2024 | $-3.19 | $-3.00 | +6.0% | $9M | -15.3% |
| May 9, 2024 | $-2.76 | $-2.89 | -4.7% | $8M | -24.8% |
| Nov 10, 2022 | $-3.64 | $-3.90 | -7.1% | $6M | -16.1% |
| Aug 15, 2022 | $-2.73 | $-4.68 | -71.4% | $6M | +7.1% |
| Mar 15, 2022 | $-0.13 | $-5.73 | -4306.4% | $314000 | -27.7% |
LOCL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 10, 2026 | Schwab Charles R.10 percent owner | Buy | 1,000,000 | $0.13 |
| Aug 10, 2026 | Schwab Charles R.10 percent owner | Buy | 0 | $1.37 |
| Jul 2, 2026 | VALIASEK KATHLEENofficer: President and CEO | Sell | 118,720 | $1.30 |
| Jun 12, 2026 | Nordby Matthewdirector | Grant | 62,949 | — |
| Jun 12, 2026 | SCHWAB CHARLES R JR.director | Grant | 62,949 | — |
| Jun 12, 2026 | Nelson Mark Josephdirector | Grant | 62,949 | — |
| Jun 12, 2026 | Brewster Pameladirector | Grant | 62,949 | — |
| Jun 12, 2026 | Molnar Michaeldirector | Grant | 62,949 | — |
| May 1, 2026 | McCandless Margaretofficer: General Counsel & Secretary | Grant | 40,000 | — |
| May 1, 2026 | Hughes Anthonyofficer: Interim CFO | Grant | 60,000 | — |
| May 1, 2026 | Hurlbert Craig M.director, officer: Executive Chairman | Grant | 75,000 | — |
| May 1, 2026 | VALIASEK KATHLEENofficer: President and CEO | Grant | 200,000 | — |
| Apr 3, 2026 | VALIASEK KATHLEENofficer: President and CEO | Sell | 200,000 | $1.16 |
| Apr 3, 2026 | Hurlbert Craig M.director, officer: Executive Chairman | Sell | 100,000 | $1.16 |
| Apr 3, 2026 | Hughes Anthonyofficer: Interim CFO | Tax | 23,064 | $1.63 |
Source: LOCL SEC Form 4 filings, latest Aug 10, 2026. For informational purposes only — not investment advice.
See the full LOCL insider & 13F page →Local Bounti Corporation company profile
Overview
Local Bounti Corporation (NASDAQ:LOCL) is a controlled environment agriculture company founded in 2018 and headquartered in Hamilton, Montana. The company went public in April 2021 through a SPAC merger. Local Bounti operates indoor vertical farming facilities that produce fresh leafy greens and herbs using proprietary technology called Stack & Flow. The company has experienced rapid growth since its founding but faces significant financial challenges as it scales operations across multiple states while burning cash and carrying substantial debt.
Business
Local Bounti operates in the controlled environment agriculture (CEA) industry, which involves growing crops indoors using advanced technology to control lighting, temperature, humidity, and nutrients. This approach allows year-round production regardless of weather conditions and uses significantly less water and land than traditional farming. The company's core product offering centers around fresh leafy greens and herbs grown in vertical farming facilities. Their product portfolio includes various types of lettuce, spinach, arugula, basil, and specialty greens marketed under their brand. Local Bounti's proprietary Stack & Flow Technology is a key differentiator that allows flexible production by moving plants through different growing zones optimized for specific growth stages. This system can reportedly increase yields by 40-70% compared to traditional indoor farming methods. Local Bounti also produces value-added products including grab-and-go salad kits and living head lettuce products. The company operates multiple facilities across the United States, with major production sites in Montana, Georgia, Washington, and Texas. Their business model focuses on local production and distribution to reduce transportation costs and provide fresher products to consumers. The company sells its products primarily to food retailers and food service distributors, with major customers including Walmart (serving over 200 stores), Brookshire Grocery Company, HEB, and Sam's Club. Local Bounti has expanded its distribution network significantly, now reaching thousands of retail doors across multiple states.
Revenue model
Local Bounti generates revenue primarily through direct product sales to food retailers and distributors. The company operates on a business-to-business model, selling fresh produce to grocery chains and food service companies who then sell to end consumers. Revenue has grown from $19.5 million in 2022 to $38.1 million in 2024, representing strong top-line growth. The company's profitability is driven by several key factors. Yield optimization through their Stack & Flow technology allows higher production per square foot, improving unit economics. Product mix significantly impacts margins, with specialty greens like arugula and spinach commanding higher prices than basic lettuce varieties. The company has been shifting toward these higher-value products to improve gross margins, which have stabilized around 27-32%. Several factors can positively impact Local Bounti's margins. Operational scale allows fixed costs to be spread across higher production volumes. Automation improvements, including new harvesting equipment being installed, should reduce labor costs. Local production reduces transportation expenses compared to traditional agriculture. Customer relationships provide some pricing power, with the company successfully implementing price increases with certain retailers. Conversely, margin pressures come from energy costs for indoor lighting and climate control, labor inflation in agricultural markets, seed and input costs, and competitive pricing pressure from both traditional agriculture and other CEA companies. The company's high fixed costs from facility construction also create operational leverage, meaning margins are sensitive to capacity utilization rates. Facility ramp-up periods can temporarily depress margins as new locations reach optimal production levels.
Competitive moat
Local Bounti's competitive moat appears relatively narrow in the current environment. The company's primary differentiator is its Stack & Flow Technology, which has received patent protection and reportedly delivers superior yields compared to traditional indoor farming methods. This technology allows flexible production by optimizing growing conditions for different plant growth stages, potentially providing 40-70% higher yields than conventional CEA approaches. The company has built customer relationships with major retailers like Walmart, which provide some switching costs and distribution advantages. Local production capabilities offer supply chain benefits including reduced transportation costs, longer shelf life, and more reliable delivery compared to traditional agriculture that may face weather disruptions. However, the controlled environment agriculture industry faces significant competitive pressures. Large agricultural companies and well-funded vertical farming startups are entering the market with substantial capital resources. Traditional agriculture remains cost-competitive for many products, especially basic leafy greens. The industry has seen several high-profile failures, including AeroFarms' bankruptcy, suggesting that achieving sustainable profitability remains challenging. Local Bounti's moat is further weakened by its capital-intensive business model requiring continuous investment in new facilities, high energy costs that create ongoing operational pressure, and limited product differentiation in what consumers often view as commodity products. The company's financial distress also limits its ability to invest in research and development or facility expansion that could strengthen its competitive position. Overall, while the technology provides some advantages, the moat appears insufficient to guarantee long-term sustainable profits in a highly competitive and capital-intensive industry.
Risks & safety
Local Bounti presents significant financial risk with limited margin of safety for investors. **Cash and Solvency:** - Cash position of only $18 million as of Q1 2025, down from previous quarters - Negative free cash flow of $14.5 million in Q1 2025 alone - Total liabilities of $560 million exceed total assets of $447 million, indicating technical insolvency - Current ratio of 2.03 provides some short-term liquidity cushion - Recent debt restructuring provided temporary relief with no cash interest payments until April 2027 **Debt Burden:** - Substantial debt load with recent restructuring reducing total debt by approximately 40% - Interest rate reduced to around 6% with extended maturity to 2035 - Debt-to-equity ratio improvement following restructuring, though company remains highly leveraged **Valuation Concerns:** - Negative book value and earnings make traditional valuation metrics unreliable - Enterprise value reflects distressed nature of the business - Stock price has declined significantly from IPO levels **Other Risks:** - Continued quarterly losses with path to profitability uncertain despite management targets - Capital-intensive business model requiring ongoing facility investments - Highly competitive industry with several recent bankruptcies among peers
Recent development
Over the past few years, Local Bounti has undergone significant operational expansion and financial restructuring. The company has aggressively expanded its production footprint, opening new facilities in Washington, Texas, and completing buildout of its Georgia facility while transitioning its original Montana facility to full commercial production. This expansion has driven revenue growth from $27.6 million in 2023 to $38.1 million in 2024. The company has focused heavily on product portfolio optimization, shifting from basic lettuce varieties toward higher-value specialty greens including arugula, spinach, and basil. Local Bounti has also expanded into value-added products with grab-and-go salad kits and living head lettuce options. This product mix evolution has helped stabilize gross margins around 27-32% despite operational challenges. Technology advancement remains a key strategic priority, with continued development of the proprietary Stack & Flow system. Recent improvements have delivered yield increases of up to 20% in the Georgia facility through lighting optimization. The company is installing automated harvesting equipment and exploring applications for higher-value crops beyond leafy greens. A major financial restructuring was completed in late 2024, securing $27.5 million in new funding while reducing total debt by approximately 40%. The restructuring extended debt maturity to 2035 and eliminated cash interest payments until April 2027, providing crucial breathing room for operations. The company has also undergone a leadership transition, with founder Craig Hurlbert moving to Executive Chairman while Kathleen Valiasek became CEO. This change reflects a shift toward more operational focus as the company targets positive adjusted EBITDA by Q3 2025. Cost reduction initiatives have removed over $7 million in annualized expenses, demonstrating management's focus on achieving profitability.
LOCL company profile · for informational purposes only — not investment advice.
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