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May 25
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.
Lifecore Biomedical
Lifecore Biomedical
Lifecore Biomedical Revenue by Segment
Revenue by Segment
CDMO Revenue
CapyFin.comHA Manufacturing Revenue
CapyFin.com 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.
- Reliance on success and timing related to growing and diversifying new business development revenue.
- Potential impact of macroeconomic events or circumstances on operations and financial performance.
- Risks associated with maintaining or expanding relationships with current customers and growing with new customers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income