Lifecore Biomedical Reports Financial Results for the Three Months Ended September 30, 2025, and Provides Corporate Update

Core Insights - Lifecore Biomedical reported $31.1 million in revenue for the three months ended September 30, 2025, marking a 26% increase from the same period in 2024 [11][4] - The company has signed multiple new programs with customers, indicating growth in its project pipeline [8][3] - Lifecore is focused on improving efficiency and productivity across its operations, achieving over a 20% increase in workforce productivity in manufacturing over the past year [7][4] Financial Performance - Revenue increased by $6.4 million compared to the prior year, driven by a $4.8 million rise in hyaluronic acid (HA) manufacturing revenues and a $1.6 million increase in CDMO revenues [11][12] - Gross profit for the period was $7.8 million, up from $5.4 million in the prior year, attributed to increased sales volume and manufacturing absorption [12][11] - Selling, general, and administrative expenses decreased significantly to $8.9 million from $14.8 million, reflecting cost management efforts [13][11] Strategic Initiatives - Lifecore's growth strategy includes maximizing existing customer business, advancing late-stage development programs, and acquiring new impactful business [3][4] - The company is preparing for a significant increase in customer demand expected in 2027 by qualifying new HA specifications for the Asian market [5][4] - Lifecore plans to implement a new enterprise resource planning (ERP) system in Q1 2026 to enhance inventory control and financial management [9][4] Future Guidance - For the transition period from May 26 to December 31, 2025, Lifecore expects revenue between $74 million and $76 million, with a net loss projected between $18.4 million and $16.4 million [19][10] - Adjusted EBITDA for the transition period is anticipated to be in the range of $12 million to $14 million, reflecting the company's ongoing efforts to grow and diversify its revenue streams [19][10]