Local Bounti announced first quarter 2025 sales of $11.6 million, marking a 38% increase year-over-year. Gross profit improved by 86% to $1.5 million, while the adjusted EBITDA loss was $8.8 million.
The company reaffirmed its target to achieve positive adjusted EBITDA in the third quarter of 2025, driven by anticipated revenue acceleration in the second half of the year. This goal is supported by ongoing commercial and operational initiatives.
The Texas facility's three-acre reconfiguration is in its final stages, with commercial production in this section expected to commence in the second quarter of 2025. Automated harvesting equipment for the Texas facility is slated for installation in early Q3 2025, aiming to enhance operational efficiencies and margin improvement.
Local Bounti expanded its commercial footprint with new salad kit launches in Q1 2025 and an upcoming exclusive launch of a family-sized Caesar salad kit with a large multi-national retailer in Q3. The company's cash and cash equivalents and restricted cash totaled $28.4 million as of March 31, 2025.
For the second quarter of 2025, Local Bounti expects sales to be between $12.0 million and $12.5 million. The company anticipates sales to accelerate in the second half of 2025, supported by full-quarter contributions from the Texas facility transition, additional capacity from Georgia facility yield improvements, new product introductions, and expansions with existing customers.
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