Local Bounti Q2 Top-Line Beats Street View

Local Bounti Corp LOCL reported second-quarter FY22 sales of $6.27 million, beating the consensus of $5.25 million. The company reported $0.108 million in sales in the prior year period.
Gross loss for the quarter was $(12) thousand versus a gross profit of $27 thousand a year earlier.
The operating expenses shot up over 600% to $26.2 million.
The loss from operations widened sharply to $(26.2) million.
The company held $41.3 million in cash and equivalents as of June 30, 2022.
Loss per share of $(0.36) missed the analyst consensus of $(0.19).
The company reaffirmed its FY22 sales guidance of at least $20 million, including partial year contribution from its acquisition of Pete's, which closed on April 4, 2022.
Price Action: LOCL shares closed lower by 8.56% at $3.74 on Friday.

Momentum23.01

GrowthNot Available

QualityNot Available

Value34.95

Short

Medium

Long

Earnings Calendar