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Feb 26, 2023
Lifecore Biomedical Q3 2023 Earnings Report
Reported results for the fiscal 2023 third quarter ended February 26, 2023.
Key Takeaways
Lifecore Biomedical reported a decrease in consolidated revenues by 26.2% year-over-year to $27.6 million and a net loss from continuing operations of $15.5 million, which includes $8.9 million of restructuring and other non-recurring charges. The company removed its going concern qualification due to new financing.
Enhanced Supply Agreement with Alcon and debt restructuring completed.
Going Concern qualification removed.
Consolidated revenues decreased by 26.2% year-over-year to $27.6 million.
Net loss from continuing operations was $15.5 million, including $8.9 million in restructuring charges.
Lifecore Biomedical
Lifecore Biomedical
Forward Guidance
Company expects a sequential step up in Lifecore's segment adjusted EBITDA that approximates a doubling of fiscal third quarter results.