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May 25, 2025
Lifecore Biomedical Q4 2025 Earnings Report
Lifecore Biomedical reported its fourth quarter and fiscal year 2025 financial results, showing a decrease in Q4 revenue and net loss compared to the prior year, while meeting full-year revenue guidance.
Key Takeaways
Lifecore Biomedical experienced a 4% decrease in Q4 2025 revenue to $36.4 million, primarily due to lower CDMO development revenue, though HA manufacturing revenue increased. The company significantly reduced its net loss to $1.1 million from $7.1 million in the prior year, driven by a gain from a legacy business obligation settlement and favorable debt derivative adjustment. For the full fiscal year, revenue reached $128.9 million, meeting guidance, but the company reported a net loss of $38.7 million.
Fourth-quarter revenue decreased by 4% to $36.4 million, primarily due to a $5.6 million decrease in CDMO revenues, partially offset by a $4.1 million increase in HA manufacturing revenues.
Net loss for Q4 significantly improved to $1.1 million ($0.06 per diluted share) from $7.1 million ($0.19 per diluted share) in the prior year, benefiting from a legacy business obligation settlement and a favorable debt derivative adjustment.
Adjusted EBITDA for Q4 was $9.1 million, a decrease of $1.3 million compared to $10.4 million in the prior year period, mainly due to lower gross profit.
The company signed three new early-stage programs in Q4 2025, including one with a large multinational pharmaceutical company, and a total of nine new programs with new customers for the fiscal year, expanding into new modalities.
Revenue by Segment
Forward Guidance
For the approximately seven-month transition period from May 26 to December 31, 2025, Lifecore expects revenue to be between $74 million and $76 million, with an estimated net loss ranging from $19.8 million to $17.8 million, and Adjusted EBITDA between $12 million and $14 million.
Positive Outlook
- Expected revenue of $74 million to $76 million for the seven-month transition period.
- Anticipated Adjusted EBITDA of $12 million to $14 million for the transition period.
- Fiscal year-end change to align with the calendar year, improving timely reporting with peers.
- Launch of a new ERP system planned for Q1 2026, expected to drive further operational efficiencies and cost savings.
- Guidance considers existing market forces, contracts, and timing of customer orders.
Challenges Ahead
- Expected net loss ranging from $19.8 million to $17.8 million for the seven-month transition period.
- The company may further adjust Adjusted EBITDA for items that significantly affect comparability or are not reflective of core operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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