LOCL reports $13.9 million revenue and a $5.8 million adjusted EBITDA loss, improving margins amid yield gains and retail expansion.
Local Bounti Corporation (LOCL) reported second-quarter revenue of $13.9 million, up 14% year-over-year and 4% sequentially, driven by higher production and sales across key facilities. Adjusted EBITDA loss narrowed 17% to $5.8 million from $7.1 million a year earlier, reflecting cost efficiencies and yield improvements.
First-half revenue reached $27.2 million, a 15% increase from $23.7 million in the same period last year. The company cited record network yields, including a 10% improvement in California, and expanded retail momentum with new accounts and SKUs. A $12.5 million investment has bolstered liquidity as LOCL shifts focus from facility build-out to operational leverage.
Shares trade at 0.51 times last-twelve-months sales, suggesting potential for rerating if margin recovery and EBITDA progress continue. The company plans a 400-store pilot for single-serve salad kits this fall.