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Aug 25, 2024
Lifecore Biomedical Q1 2025 Earnings Report
Lifecore Biomedical reported financial results for the first quarter of fiscal 2025.
Key Takeaways
Lifecore Biomedical reported a revenue increase of $0.2 million compared to the same period last year, driven by HA manufacturing revenues, but experienced a net loss of $16.2 million, which is higher than the net loss of $10.8 million in the comparable period of 2023. The company signed four new customers and multiple expansion agreements and successfully closed a $24.3 million private placement. They also reaffirmed their fiscal year 2025 revenue guidance of $126.5 to $130 million and Adjusted EBITDA guidance of $19 to $21 million.
Revenues for the quarter ended August 25, 2024, were $24.7 million, compared to $24.5 million for the comparable 2023 period.
Signed four new customers and multiple expansion agreements for existing customer projects.
Successfully closed a $24.3 million private placement, providing financial runway for current liquidity needs and future growth.
Reaffirmed fiscal year 2025 revenue guidance of $126.5 to $130 million and Adjusted EBITDA guidance of $19 to $21 million.
Lifecore Biomedical
Lifecore Biomedical
Forward Guidance
For the full fiscal year 2025, the company is reiterating its financial guidance and expects revenue to be approximately $126.5 to $130 million and Adjusted EBITDA to be in the range of $19 to $21 million.
Positive Outlook
- Revenue to be approximately $126.5 to $130 million.
- Adjusted EBITDA to be in the range of $19 to $21 million.
- Guidance considers existing market forces.
- Guidance considers contracts.
- Guidance considers timing of customer orders.
Challenges Ahead
- New business development organization usually takes multiple quarters to optimize performance.
- Company cautions against extrapolating quarterly results to estimate full year results.
- Financial guidance involves estimations with respect to success and timing related to growing and diversifying the company’s new business development revenue.
- Guidance is based on the company's current beliefs.
- Guidance is based on the company's current estimations.