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May 26, 2024
Lifecore Biomedical Q4 2024 Earnings Report
Reported a revenue increase of 21.6% year-over-year and a gross profit increase of $9.5 million, or 122.0% year-over-year.
Key Takeaways
Lifecore Biomedical reported a strong Q4 2024 with a 21.6% increase in revenue and a 122.0% increase in gross profit. The company is focused on maximizing its base business, advancing its development portfolio, and attracting new business.
Revenue increased by 21.6% year-over-year, reaching $37.9 million.
Gross profit increased by 122.0% year-over-year, reaching $17.3 million.
Net loss from continuing operations was $7.1 million, compared to $37.0 million year-over-year, which includes $23.7 million in loss on debt extinguishment in the prior year period.
Adjusted EBITDA increased by 180.1% year-over-year, reaching $10.4 million.
Lifecore Biomedical
Lifecore Biomedical
Forward Guidance
The Company is providing guidance on a consolidated basis for full year fiscal 2025.
Positive Outlook
- Revenue: Expected to be in the range of $126.5 million to $130 million
- Adjusted EBITDA: Expected to be in the range of $19 million to $21 million.
- The Company has changed its presentation of adjusted EBITDA to exclude stock-based compensation expense, which is anticipated to be in the range of $9.0 million to $10.0 million during fiscal 2025.
- Capital expenditures: Expected to be in the range of $10 million to $14 million, excluding capitalized interest.
- Lifecore Biomedical will host a conference call tomorrow morning, August 27, 2024, at 8:30 a.m. ET to discuss fiscal 2024 fourth quarter financial results.