Local Bounti reported a 28% year-over-year revenue growth for the second quarter of 2025. The company achieved approximately $7 million in annualized expense reductions during the first half of 2025, with an additional $2.5 million to $3 million in annualized savings targeted for the second half of the year.
Local Bounti now expects to achieve positive adjusted EBITDA in early 2026, a revision from its previous target of Q3 2025. This adjustment is based on enhanced visibility into customer timelines and commercial ramp schedules.
Dane Almassy has been appointed as Chief Commercial Officer, effective August 25, 2025, bringing over 20 years of experience across fresh produce and consumer packaged goods. His expertise is expected to be valuable as the company scales its business alongside strategic retail customers.
The reconfiguration of the Texas facility was completed in late July, and it is now operating at full harvestable capacity in early August. Automated harvesting equipment installation is complete and operational, expected to begin driving anticipated operational efficiencies and margin improvements in late Q3.
The company ended the quarter with $13.2 million in cash and cash equivalents and restricted cash as of June 30, 2025. Subsequent to the quarter, Local Bounti secured $10 million through a convertible note and reduced its senior debt by $10 million.
Local Bounti expects modest sequential sales growth in Q3 2025, followed by an acceleration in Q4 2025. The company anticipates sequential improvements in its adjusted EBITDA loss rate in both the third and fourth quarters of 2025, driven by sales growth, cost reduction initiatives, and the ramp from its Washington and Texas facilities.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.