Local Bounti is a controlled environment agriculture (“CEA”) company that produces sustainably grown produce, focused today on living and loose leaf lettuce. Founded in 2018, and headquartered in Hamilton, Montana, Local Bounti utilizes its patent pending Stack & Flow Technology™ to grow healthy food sustainably and affordably. Our proprietary process is a hybrid, utilizing vertical farming in early plant growth, followed by greenhouse farming for final grow out. We designed our Stack & Flow Technology™ to give our products exactly what they need at every step of their growth cycle. Our goal is to grow in an environmentally sustainable manner that not only increases harvest efficiency and enhances unit economics, but also limits water usage and reduces the carbon footprint of the production and distribution process. Controlling the environmental conditions in both the ‘Stack’ and ‘Flow’ components of our growing system helps to ensure healthy, nutritious, consistent, and delicious products that are non-genetically modified organisms (“non-GMO”). We use 90% less water, 90% less land, and significantly less pesticides and herbicides than traditional outdoor agriculture operations.
Company profile
Ticker
LOCL, LOCLW
Exchange
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Leo Holdings III Corp.
SEC CIK
LOCL stock data
Latest filings (excl ownership)
8-K
Local Bounti Announces First Quarter 2024 Financial Results
9 May 24
ARS
2023 FY
Annual report to shareholders
19 Apr 24
DEFA14A
Additional proxy soliciting materials
19 Apr 24
DEF 14A
Definitive proxy
19 Apr 24
PRE 14A
Preliminary proxy
9 Apr 24
8-K
Local Bounti Receives Continued Listing Standard Notice from NYSE
5 Apr 24
S-8
Registration of securities for employees
28 Mar 24
10-K
2023 FY
Annual report
28 Mar 24
8-K
Local Bounti Announces Full Year 2023 Financial Results
27 Mar 24
8-K
Entry into a Material Definitive Agreement
26 Jan 24
Transcripts
LOCL
Earnings call transcript
2024 Q1
9 May 24
LOCL
Earnings call transcript
2023 Q3
30 Oct 23
LOCL
Earnings call transcript
2023 Q2
9 Aug 23
LOCL
Earnings call transcript
2023 Q1
10 May 23
LOCL
Earnings call transcript
2022 Q3
12 Nov 22
LOCL
Earnings call transcript
2022 Q2
15 Aug 22
LOCL
Earnings call transcript
2022 Q1
10 May 22
LOCL
Earnings call transcript
2021 Q4
15 Mar 22
Latest ownership filings
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | |
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Revenue | |||
Cost of revenue | |||
Operating income | |||
Operating margin | |||
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Cash on hand | |||
Change in cash | |||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 18.34 mm | 18.34 mm | 18.34 mm | 18.34 mm | 18.34 mm | 18.34 mm |
Cash burn (monthly) | 7.36 mm | 470.25 k | 6.33 mm | 6.65 mm | 3.30 mm | 3.16 mm |
Cash used (since last report) | 54.17 mm | 3.46 mm | 46.60 mm | 48.93 mm | 24.29 mm | 23.25 mm |
Cash remaining | -35.83 mm | 14.88 mm | -28.26 mm | -30.60 mm | -5.95 mm | -4.91 mm |
Runway (months of cash) | -4.9 | 31.6 | -4.5 | -4.6 | -1.8 | -1.6 |
Institutional ownership, Q4 2023
13F holders | Current |
---|---|
Total holders | 7 |
Opened positions | 0 |
Closed positions | 23 |
Increased positions | 1 |
Reduced positions | 2 |
13F shares | Current |
---|---|
Total value | 88.32 mm |
Total shares | 25.74 mm |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Leo Investors III | 12.10 mm | $78.07 mm |
Live Oak Ventures | 11.16 mm | $0.00 |
Wheat Wind Farms | 1.18 mm | $1.95 mm |
McLeod Management | 1.08 mm | $1.79 mm |
Integrated Core Strategies | 224.55 k | $1.45 mm |
Global Retirement Partners | 2.88 k | $4.66 mm |
Allworth Financial | 192.00 | $398.00 k |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
1 May 24 | Kathleen Valiasek | Common Stock | Payment of exercise | Dispose F | No | No | 2.83 | 3,366 | 9.53 k | 343,013 |
25 Apr 24 | Kathleen Valiasek | Common Stock | Grant | Acquire A | No | No | 0 | 91,363 | 0.00 | 346,379 |
25 Apr 24 | Margaret McCandless | Common Stock | Grant | Acquire A | No | No | 0 | 25,000 | 0.00 | 48,442 |
25 Apr 24 | Craig M. Hurlbert | Common Stock | Grant | Acquire A | No | No | 0 | 120,000 | 0.00 | 307,573 |
15 Apr 24 | Mark Joseph Nelson | Common Stock | Sell | Dispose S | No | Yes | 2.315 | 660 | 1.53 k | 30,388 |
News
Why Ultragenyx Pharmaceutical Shares Are Trading Lower By Around 9%? Here Are Other Stocks Moving In Monday's Mid-Day Session
15 Apr 24
Local Bounti Receives Continued Listing Standard Notice From NYSE
5 Apr 24
Local Bounti Q4 Adj. EPS $(3.35) Misses $(2.43) Estimate, Sales $6.87M Miss $8.70M Estimate
27 Mar 24
Earnings Scheduled For March 27, 2024
27 Mar 24
Preview: Local Bounti's Earnings
26 Mar 24
Press releases
Local Bounti Receives Continued Listing Standard Notice from NYSE
5 Apr 24
Local Bounti Announces Full Year 2023 Financial Results
27 Mar 24
Local Bounti to Release Full Year 2023 Financial Results on Wednesday, March 27, 2024
26 Mar 24
Local Bounti Receives Patent for Stack & Flow Technology®
21 Feb 24