Lifecore Biomedical Reports Third Quarter Fiscal 2025 Financial Results and Provides Corporate Update

Core Insights - Lifecore Biomedical, Inc. reported revenues of $35.2 million for Q3 Fiscal 2025, a decrease of 2% compared to $35.7 million in the same period last year [7][12] - The company signed multiple development agreements with both new and existing customers, including a project expansion with a large multi-national pharmaceutical customer [4][3] - Lifecore strengthened its balance sheet by selling excess capital equipment, raising approximately $17 million [6][3] Financial Performance - Revenues for the nine months ended February 23, 2025, were $92.4 million, an increase of 2% compared to $90.4 million for the same period last year [13] - Gross profit for Q3 was $9.8 million, down from $11.9 million in the prior year, primarily due to a decrease in CDMO gross profit [9][12] - The company recorded a net loss of $14.8 million for Q3, compared to a net income of $15.6 million in the same period last year [12][30] Operational Developments - Lifecore has implemented strategies to enhance sustainability and profitability, resulting in improved operational efficiencies and margins [5][3] - The company is actively seeking opportunities to reduce operational expenses and strengthen its commitment to quality [5][3] Future Outlook - Lifecore reiterated its financial guidance for the full fiscal year 2025, expecting revenue to be approximately $126.5 to $130 million and Adjusted EBITDA to be in the range of $19 to $21 million [19][35]