LOCL on NYSE
Local Bounti Corporation/DE
American agricultural production-crops company based in Hamilton.
Price unavailable
Last updated Oct 18, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
12.1%Gross margin3
-129.5%Operating margin3
-195.1%Net margin3
26.8%Revenue growth, 20253
-$41.9MFree cash flow3
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue62¢$42.5M
- Research and development38¢$25.6M
Out of $48.4M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Sales | $48.4M | $38.1M |
| Cost of goods sold | $42.5M | $34.0M |
| Gross profit | $5.9M | $4.1M |
| Research and development | $25.6M | $22.3M |
| Sales and marketing | $9.1M | $7.9M |
| General and administrative | $33.8M | $32.9M |
| Total operating expenses | $68.5M | $63.1M |
| Loss from operations | -$62.6M | -$59.0M |
| Change in fair value of warrant liabilities | -$3.4M | $811.0K |
| Interest expense, net | -$32.2M | -$58.9M |
| Other income (expense), net | $3.8M | -$2.8M |
| Net loss | -$94.4M | -$119.9M |
| Less: Deemed dividend to preferred stockholders | $403.0K | $0 |
| Net loss attributable to common stockholders | -$94.8M | -$119.9M |
| Basic (in dollars per share) | -$5.61 | -$14.14 |
| Diluted (in dollars per share) | -$5.61 | -$14.14 |
| Basic (in shares) | 16.9M shares | 8.5M shares |
| Diluted (in shares) | 16.9M shares | 8.5M shares |
| Total stock-based compensation expense, net of amounts capitalized | $5.2M | $3.3M |
| Total depreciation and amortization | $23.2M | $18.9M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2025-03-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $4.2M | $937.0K | ||
| Restricted cash | $6.5M | $6.5M | ||
| Accounts receivable, net | $2.2M | $2.3M | ||
| Inventory, net | $7.4M | $6.8M | ||
| Prepaid expenses and other current assets | $1.7M | $2.3M | ||
| Total current assets | $22.0M | $18.8M | ||
| Property and equipment, net | $357.4M | $371.0M | ||
| Finance lease right-of-use assets, net | $214.0K | $277.0K | ||
| Operating lease right-of-use assets, net | $47.0K | $73.0K | ||
| Intangible assets, net | $30.8M | $37.8M | ||
| Other assets | $0 | $101.0K | ||
| Total assets | $410.5M | $428.0M | ||
| Accounts payable | $11.8M | $17.0M | ||
| Accrued liabilities | $3.7M | $18.1M | ||
| Short-term debt | $0 | $20.2M | ||
| Financing obligation | $762.0K | $51.0K | ||
| Operating lease liabilities | $32.0K | $30.0K | ||
| Finance lease liabilities | $81.0K | $81.0K | ||
| Total current liabilities | $16.3M | $55.4M | ||
| Principal amount | $312.2M | $447.7M | ||
| Plus: Debt premium, net of amortization | $172.4M | $0 | ||
| Less: Debt discount, net of amortization | -$1.5M | $0 | ||
| Unamortized deferred financing costs | $0 | -$31.1M | ||
| Long-term debt, net | $483.1M | $416.6M | ||
| Accrued interest, noncurrent | $14.5M | $0 | ||
| Financing obligation, noncurrent | $51.3M | $49.9M | ||
| Operating lease liabilities, noncurrent | $25.0K | $57.0K | ||
| Finance lease liabilities, noncurrent | $155.0K | $206.0K | ||
| Warrant liabilities | $11.3M | $6.4M | ||
| Total liabilities | $576.7M | $528.5M | ||
| Common stock, $0.0001 par value, 400,000,000 shares authorized; 22,223,800 and 8,656,122 issued and outstanding as of December 31, 2025 and 2024, respectively | $2.0K | $1.0K | ||
| Additional paid-in capital | $351.4M | $322.7M | ||
| Accumulated deficit | -$517.6M | -$423.2M | ||
| Total stockholders' deficit | -$166.2M | -$100.5M | $15.3M | |
| Total liabilities and stockholders' deficit | $410.5M | $428.0M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 400.0M shares | 400.0M shares | ||
| Common stock, shares issued (in shares) | 22.2M shares | 8.7M shares | ||
| Common stock, shares outstanding (in shares) | 22.2M shares | 8.7M shares |
| Period ending | 2025-12-31 | 2025-03-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $4.2M | $937.0K | ||
| Restricted cash | $6.5M | $6.5M | ||
| Accounts receivable, net | $2.2M | $2.3M | ||
| Inventory, net | $7.4M | $6.8M | ||
| Prepaid expenses and other current assets | $1.7M | $2.3M | ||
| Total current assets | $22.0M | $18.8M | ||
| Property and equipment, net | $357.4M | $371.0M | ||
| Finance lease right-of-use assets, net | $214.0K | $277.0K | ||
| Operating lease right-of-use assets, net | $47.0K | $73.0K | ||
| Intangible assets, net | $30.8M | $37.8M | ||
| Other assets | $0 | $101.0K | ||
| Total assets | $410.5M | $428.0M | ||
| Accounts payable | $11.8M | $17.0M | ||
| Accrued liabilities | $3.7M | $18.1M | ||
| Short-term debt | $0 | $20.2M | ||
| Financing obligation | $762.0K | $51.0K | ||
| Operating lease liabilities | $32.0K | $30.0K | ||
| Finance lease liabilities | $81.0K | $81.0K | ||
| Total current liabilities | $16.3M | $55.4M | ||
| Principal amount | $312.2M | $447.7M | ||
| Plus: Debt premium, net of amortization | $172.4M | $0 | ||
| Less: Debt discount, net of amortization | -$1.5M | $0 | ||
| Unamortized deferred financing costs | $0 | -$31.1M | ||
| Long-term debt, net | $483.1M | $416.6M | ||
| Accrued interest, noncurrent | $14.5M | $0 | ||
| Financing obligation, noncurrent | $51.3M | $49.9M | ||
| Operating lease liabilities, noncurrent | $25.0K | $57.0K | ||
| Finance lease liabilities, noncurrent | $155.0K | $206.0K | ||
| Warrant liabilities | $11.3M | $6.4M | ||
| Total liabilities | $576.7M | $528.5M | ||
| Common stock, $0.0001 par value, 400,000,000 shares authorized; 22,223,800 and 8,656,122 issued and outstanding as of December 31, 2025 and 2024, respectively | $2.0K | $1.0K | ||
| Additional paid-in capital | $351.4M | $322.7M | ||
| Accumulated deficit | -$517.6M | -$423.2M | ||
| Total stockholders' deficit | -$166.2M | -$100.5M | $15.3M | |
| Total liabilities and stockholders' deficit | $410.5M | $428.0M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 400.0M shares | 400.0M shares | ||
| Common stock, shares issued (in shares) | 22.2M shares | 8.7M shares | ||
| Common stock, shares outstanding (in shares) | 22.2M shares | 8.7M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$94.4M | -$119.9M |
| Depreciation | $19.9M | $15.3M |
| Amortization | $3.3M | $3.6M |
| Stock-based compensation expense, net of amounts capitalized | $5.2M | $3.3M |
| Allowance for expected credit losses | $17.0K | -$103.0K |
| Inventory allowance | -$12.0K | $498.0K |
| Loss on disposal of property and equipment | $264.0K | $1.7M |
| Change in fair value of warrant liability | $3.4M | -$811.0K |
| Paid-in-kind interest | $30.9M | $50.3M |
| Amortization of debt premium | -$5.7M | $0 |
| Amortization of debt issuance costs | $2.2M | $8.4M |
| Write-off of financing fees | $0 | $1.2M |
| Interest expense on financing obligation | $601.0K | $682.0K |
| Intangibles impairment | $3.7M | $0 |
| Accounts receivable | $62.0K | $899.0K |
| Inventory | -$593.0K | -$3.1M |
| Prepaid expenses and other current assets | $412.0K | $544.0K |
| Other assets | $101.0K | -$28.0K |
| Accounts payable | $1.5M | $6.6M |
| Operating lease liabilities | -$3.0K | -$25.0K |
| Finance lease liabilities | $63.0K | $37.0K |
| Accrued liabilities | -$1.3M | $3.8M |
| Net cash used in operating activities | -$30.3M | -$27.1M |
| Purchases of property and equipment | -$11.6M | -$82.5M |
| Net cash used in investing activities | -$11.6M | -$82.5M |
| Proceeds from financing obligation | $1.6M | $0 |
| Proceeds from issuance of Series A preferred stock, net of issuance costs | $20.9M | $0 |
| Proceeds from issuance of common stock, net of issuance costs | $3.5M | $0 |
| Proceeds from issuance of debt, net of issuance costs | $10.5M | $100.1M |
| Proceeds from issuance of convertible note, net of debt issuance costs | $9.9M | $0 |
| Payment of minimum employee taxes withheld upon net share settlement of restricted stock units | -$1.2M | $0 |
| Principal payment on finance lease liabilities | -$51.0K | -$27.0K |
| Net cash provided by financing activities | $45.2M | $100.1M |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $3.3M | -$9.4M |
| Cash paid for interest | $4.0M | $5.5M |
| Conversion of Series A Preferred Stock to common stock | $21.4M | $0 |
| Accrued interest capitalized to debt | $30.7M | $50.3M |
| Purchases of property and equipment included in accounts payable and accrued liabilities | $5.3M | $7.2M |
| Non-cash transfer from property and equipment, net to other assets | $0 | $1.2M |
| Stock-based compensation capitalized to property and equipment, net | $352.0K | $781.0K |
| Non-cash equity settlement on employee receivable | $163.0K | $0 |
No quarter-by-quarter statement was filed.
Leadership
Who has led Local Bounti Corporation/DE, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2025
- Chief executive officerKathleen Valiasek Apr 3, 2025 to now10
- Chief executive officerAnna M. Fabrega Jun 7, 2023 to Nov 2, 202311
- Chief executive officerCraig M. Hurlbert Nov 23, 2021 to Feb 4, 202512
- Chief executive officerTravis M. Joyner Nov 23, 2021 to Dec 23, 202213
- ChairCraig M. Hurlbert Jun 13, 2025 to now14
- PresidentKathleen Valiasek Jun 26, 2024 to now15
- PresidentBrian C. Cook Apr 6, 2022 to May 3, 202316
- Chief financial officerAnthony Hughes Dec 19, 2025 to now17
- Chief financial officerRobert Darwent Feb 25, 2021 to Feb 25, 202118
- Chief financial officerKathleen Valiasek Nov 23, 2021 to Dec 19, 202519
- Chief operating officerMark Alan McKinney Nov 23, 2021 to Sep 7, 202220
Board members and other officers (17)
- Chief Commercial OfficerDane Almassy Aug 29, 2025 to now21
- SVP of StrategyCraig M. Hurlbert Aug 22, 2023 to Nov 22, 202322
- Chief Technology OfficerTravis M. Joyner Nov 1, 2023 to Dec 23, 202423
- Chief Innovation OfficerB. David Vosburg Nov 23, 2021 to Nov 9, 202324
- Chief Sustainability OfficerGary Hilberg Nov 23, 2021 to May 3, 202225
- Board memberJennifer Carr-Smith May 19, 2023 to Jan 24, 202526
- Board memberEdward C. Forst Feb 25, 2021 to Jun 14, 202427
- Board memberLori H. Bush Feb 25, 2021 to Feb 25, 202128
- Board memberMary Minnick Feb 25, 2021 to Feb 25, 202129
- Board memberRobert Darwent Feb 25, 2021 to Feb 25, 202118
- Board memberMark Masinter Feb 26, 2021 to Feb 26, 202130
- Board memberCraig M. Hurlbert Nov 23, 2021 to Feb 4, 202512
- Board memberMark Joseph Nelson Nov 23, 2021 to now31
- Board memberMatthew Nordby Nov 23, 2021 to now32
- Board memberPamela Brewster Nov 23, 2021 to now33
- Board memberTravis M. Joyner Nov 23, 2021 to Dec 23, 202413
- General counselMargaret McCandless Apr 6, 2022 to now34
Former names
- Leo Holdings III Corp.Jan 21, 2021 to Nov 22, 20212
Timeline
Filings
563 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 63 major events, 209 insider forms, 32 large holders, 2 private raises, 236 other. The latest 20:
- Oct 6, 20264 EDGAR
- Sep 21, 2026DEFA14A EDGAR
- Sep 21, 2026DEF 14A EDGAR
- Sep 10, 2026PRE 14A EDGAR
- Aug 12, 202610-Q EDGAR
- Aug 12, 20268-K EDGAR
- Aug 10, 2026SCHEDULE 13D/A EDGAR
- Aug 10, 20264 EDGAR
- Aug 7, 20268-K EDGAR
- Jul 2, 2026SCHEDULE 13D/A EDGAR
- Jul 2, 20264 EDGAR
- Jun 18, 20268-K EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20268-K EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- May 21, 2026EFFECT EDGAR
- May 21, 2026424B3 EDGAR
The 563 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 32 such filings since October 2021, the latest 10:
- Aug 10, 2026SCHEDULE 13D/A
- Jul 2, 2026SCHEDULE 13D/A
- Mar 18, 2026SCHEDULE 13D/A
- Aug 5, 2025SCHEDULE 13D/A
- Jun 16, 2025SCHEDULE 13D/A
- Apr 7, 2025SCHEDULE 13D
- Jan 6, 2025SCHEDULE 13D/A
- Feb 9, 2024SC 13G/A
- Jan 26, 2024SC 13G/A
- Nov 8, 2023SC 13D/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 14SEC EDGARCraig M. Hurlbert, Chair
- 15SEC EDGARKathleen Valiasek, President
- 16SEC EDGARBrian C. Cook, President
- 17
- 18
- 19
- 20
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- 22SEC EDGARCraig M. Hurlbert, SVP of Strategy
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- 26SEC EDGARJennifer Carr-Smith, Board member
- 27SEC EDGAREdward C. Forst, Board member
- 28SEC EDGARLori H. Bush, Board member
- 29SEC EDGARMary Minnick, Board member
- 30SEC EDGARMark Masinter, Board member
- 31SEC EDGARMark Joseph Nelson, Board member
- 32SEC EDGARMatthew Nordby, Board member
- 33SEC EDGARPamela Brewster, Board member
- 34SEC EDGARMargaret McCandless, General counsel