Local Bounti posts 14% sales growth to $13.9 million

• Local Bounti reported Q2 2026 sales of $13.9 million, up 14% year-over-year and 4% sequentially.
• Net loss narrowed to $19.8 million, while adjusted EBITDA loss improved 17% to $5.8 million.
• The company is targeting higher crop yields and secured an additional $12.5 million investment after quarter-end.

Local Bounti (NYSE:LOCL) reported second-quarter 2026 sales of $13.9 million, up 14% year-over-year and 4% sequentially, supported by higher production in Georgia, Texas and Washington.

Gross profit declined to $1 million from $1.5 million a year earlier, while adjusted gross margin fell to 27% from 30% due to packing inefficiencies in Georgia that the company said have since been resolved.

Local Bounti reported a net loss of $19.8 million, compared with $21.6 million a year earlier, while adjusted EBITDA loss improved 17% to $5.8 million and adjusted G&A declined 17% to $4.1 million.

The company reported approximately 10% yield improvements at upgraded facilities and said it is targeting about 20% higher yields at its California operations, alongside roughly 20% lower seed costs.

Local Bounti ended June 30, 2026 with $10.1 million in cash and restricted cash and later secured an additional $12.5 million investment through a convertible note and warrant from an existing strategic investor.

The company operates controlled-environment agriculture facilities producing leafy greens and related products, with its current strategy focused on improving facility utilization, crop yields and production costs.