Local Bounti Corp 2026年季度报告

FORM 10-Q (MarkOne) QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch31, 2026or ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromto LOCAL BOUNTI CORPORATION(Exact name of registrant as specified in its charter) 83-3686055 (I.R.S Employer Identification No.) (State or Other Jurisdiction of Incorporation orOrganization) 490 Foley LaneHamilton,MT 59840 (Address of Principal Executive Offices, Including Zip Code) (800) 640-4016 (Registrant's Telephone Number, Including Area Code) Securities registered pursuant to Section12(b) of the Act: Name of each exchange on which registered Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject tosuch filing requirements for the past 90days.Yes☒No☐Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of RegulationS-T(§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was requiredto submit such files).Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerginggrowth company” in Rule12b-2 of the Exchange Act. Acceleratedfiler If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2of the Act).Yes☐No☒ The number of outstanding shares of Local Bounti Corporation’s common stock was 22,796,270 at May11, 2026. TABLE OF CONTENTS Part I – FINANCIAL INFORMATION Item 1. Financial StatementsUnaudited Condensed Consolidated Balance Sheets at March31, 2026 and December31, 20255Unaudited Condensed Consolidated Statements of Operations for the Three Months Ended March31, 2026 and20256Unaudited Condensed Consolidated Statements of Stockholders' Deficit for the Three Months EndedMarch31, 2026 and 20257Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended March31, 2026and 20258Notes to Unaudited Condensed Consolidated Financial Statements10Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations22Item 3. Quantitative and Qualitative Disclosures About Market Risk29Item 4. Controls and Procedures29Part II – OTHER INFORMATION30Item 1. Legal Proceedings30Item 1A. Risk Factors30Item 2. Unregistered Sales of Equity Securities and Use of Proceeds30Item 5. Other Information30Item 6. Exhibits31SIGNATURES32 This Quarterly Report on Form 10-Q and the information incorporated herein by reference contain certain statements thatconstitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "SecuritiesAct"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the "safe harbor" provisions ofthe United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify these forward-looking statementsby the use of terms such as "expect," "anticipate," "believe," "continue," "estimate," "intend," "may," "plan," "project," "forecast,""seek," "should," "target," "will," or similar expressions, and variations or negatives of these words, but the absence of these wordsdoes not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, statementsregarding our ability to raise capital in the future, future financial performance, business strategies including future acquisitions,expansion plans including construction of future facilities, future results of operations, estimated revenues, losses, projected costs,prospects, plans and objectives of management. All statements other than statements of historical fact are statements that could bedeemed forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties andother factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from resultsexpressed or implied in this Quarterly Report on Form 10-Q. The following factors, among others, could cause actual results to differmaterially from those described in these forward-looking statements: •Local Bounti’s ability to continue as