Local Bounti Corporation
LOCL-WT
New York Stock Exchange0.01
USD
+0.00
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Local Bounti Corporation
LOCL-WT
(New York Stock Exchange)
Recent
price
0.01
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Local Bounti Corporation (NYSE: LOCL-WT), a controlled environment agriculture company founded in 2018 and headquartered in Hamilton, Montana, produces sustainably grown leafy greens, herbs and berries using its patented Stack & Flow Technology, a hybrid of vertical farming and hydroponic greenhouse methods that utilizes 90% less water and land than conventional agriculture; the company offers living lettuce, loose leaf lettuce, arugula, spinach, basil, other herbs, berries and value-added products such as salad kits including family-sized 10oz Romano Caesar and private label Butter Living lettuce, serving retailers, grocery chains, foodservice distributors and home-delivery channels across approximately 13,000 retail doors in the United States with facilities in Montana, Georgia, Texas, Washington and expansions planned for the Midwest. Local Bounti operates non-GMO, pesticide-free indoor greenhouses that ensure year-round production, enhanced nutritional value, superior taste and extended shelf life through optimal environmental controls and minimal food miles. The company targets major retailers like Walmart, Brookshire Grocery, Sam's Club and Markon Cooperative, as well as regional Pacific Northwest chains and national foodservice partners. In recent developments, Local Bounti closed a $25 million equity investment from new and existing investors on March 31, 2025, alongside amending its senior credit facility into a $312 million 10-year term with no cash payments until April 2027, canceling $197 million in debt principal and interest; in August 2025, it secured an additional $10 million convertible note from an existing investor, coupled with a $10 million principal reduction on its credit facility and issuance of warrants for 550,000 common shares. The company completed reconfiguration and automation upgrades at its Texas facility in Q3 2025, boosting labor productivity by 19% and reducing direct labor costs per pound by 17%, while installing yield-enhancing tower upgrades across all facilities expected to deliver over 10% increases; it also launched new grab-and-go offerings and salad kits with leading partners, secured a supply deal with a major retailer spanning 13 distribution centers in California and Texas, expanded into over 180 Brookshire Grocery locations and reported 19% year-over-year Q3 2025 revenue growth to $12.2 million with plans for positive adjusted EBITDA in early 2026.