Local Bounti cuts FY23 revenue view to about $28M from $30M-$34M

One estimate $30.57M. Construction of the company’s Washington facility remains on track with seeding expected to commence in early January. Although its Texas facility is also nearly complete, unexpected delivery delays on select equipment has pushed seeding back and operations are now expected to commence in late January following the start-up of the Washington facility. As a result of the phasing of shipments in the fourth quarter, the company now expects full year 2023 sales to be approximately $28M, implying growth of approximately 44% compared to full year 2022.