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)
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
8-K
Local Bounti Announces Leadership Transition and Provides Business Update
15 Dec 23
10-Q
2023 Q3
Quarterly report
14 Nov 23
25-NSE
Exchange delisting
2 Nov 23
8-K
Local Bounti Announces Third Quarter 2023 Financial Results
30 Oct 23
Transcripts
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
4
Mark Joseph Nelson
17 Apr 24
4
Margaret McCandless
3 Apr 24
4
KATHLEEN VALIASEK
3 Apr 24
4
Mark Joseph Nelson
15 Mar 24
4
Margaret McCandless
5 Mar 24
SC 13G/A
FMR LLC
9 Feb 24
4
Travis M. Joyner
2 Feb 24
SC 13G/A
Leo Investors III LP
26 Jan 24
4
Craig M. Hurlbert
4 Jan 24
4
KATHLEEN VALIASEK
4 Jan 24
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Operating income | |||||
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Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | |
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Revenue | |||
Cost of revenue | |||
Operating income | |||
Operating margin | |||
Net income | |||
Net profit margin | |||
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) | 48.68 mm | 3.11 mm | 41.88 mm | 43.98 mm | 21.83 mm | 20.90 mm |
Cash remaining | -30.35 mm | 15.23 mm | -23.54 mm | -25.64 mm | -3.49 mm | -2.56 mm |
Runway (months of cash) | -4.1 | 32.4 | -3.7 | -3.9 | -1.1 | -0.8 |
Institutional ownership, Q3 2023
13F holders | Current |
---|---|
Total holders | 27 |
Opened positions | 19 |
Closed positions | 28 |
Increased positions | 1 |
Reduced positions | 0 |
13F shares | Current |
---|---|
Total value | 228.20 mm |
Total shares | 55.51 mm |
Total puts | 0.00 |
Total calls | 256.60 k |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Wheat Wind Farms | 14.59 mm | $22.04 mm |
McLeod Management | 14.02 mm | $21.17 mm |
Leo Investors III | 12.10 mm | $78.07 mm |
Live Oak Ventures | 11.16 mm | $0.00 |
LMR Partners | 2.03 mm | $60.81 mm |
Walleye Capital | 340.09 k | $10.20 mm |
Integrated Core Strategies | 224.55 k | $1.45 mm |
Sona Asset Management | 200.00 k | $6.00 mm |
Schwarz Dygos Wheeler Investment Advisors | 166.67 k | $5.00 mm |
Moore Capital Management | 150.00 k | $4.50 mm |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
15 Apr 24 | Mark Joseph Nelson | Common Stock | Sell | Dispose S | No | Yes | 2.315 | 660 | 1.53 k | 30,388 |
1 Apr 24 | Kathleen Valiasek | Common Stock | Payment of exercise | Dispose F | No | No | 2.84 | 3,716 | 10.55 k | 255,016 |
1 Apr 24 | Margaret McCandless | Common Stock | Payment of exercise | Dispose F | No | No | 2.84 | 2,432 | 6.91 k | 23,442 |
13 Mar 24 | Mark Joseph Nelson | Common Stock | Sell | Dispose S | No | Yes | 2.5937 | 447 | 1.16 k | 31,048 |
1 Mar 24 | Margaret McCandless | Common Stock | Payment of exercise | Dispose F | No | No | 2.72 | 796 | 2.17 k | 25,874 |
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
Local Bounti Amends Cargill Credit Facility and Receives Funds for Working Capital
24 Jan 24