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LFCR

Lifecore Biomedical, Inc.

LFCR

Lifecore Biomedical, Inc. • NASDAQ
$7.90 ▲ 0.89% (+0.07)
Market Cap $295.56 M
52w High $8.85
52w Low $4.76
Dividend Yield 0%
P/E -6.22
Volume 67.08K
Outstanding Shares 37.41M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $31.109M ▼ $10.858M ▲ $-9.991M ▼ -32.116% ▼ $-0.29 ▼ $-7.126M ▼
Q4-2025 $36.444M ▲ $8.655M ▼ $-1.147M ▲ -3.147% ▲ $-0.055 ▲ $6.321M ▲
Q3-2025 $35.154M ▲ $18.874M ▲ $-14.769M ▼ -42.012% ▼ $-0.47 ▼ $-7.22M ▼
Q2-2025 $32.564M ▲ $13.043M ▼ $-6.571M ▲ -20.179% ▲ $-0.25 ▲ $981K ▲
Q1-2025 $24.705M $16.971M $-16.23M -65.695% $-0.53 $-8.894M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $18.856M ▲ $235.204M ▼ $198.418M ▼ $36.786M ▲
Q4-2025 $8.265M ▲ $239.342M ▲ $238.006M ▲ $1.336M ▼
Q3-2025 $5.417M ▼ $237.693M ▼ $235.464M ▼ $2.229M ▼
Q2-2025 $9.455M ▲ $255.386M ▲ $239.937M ▼ $15.449M ▲
Q1-2025 $5.52M $246.824M $250.762M $-3.938M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-9.991M ▼ $1.762M ▼ $-1.737M ▲ $-1.388M ▼ $-1.363M ▼ $25K ▼
Q4-2025 $-1.147M ▲ $5.347M ▲ $-2.097M ▼ $-402K ▲ $2.848M ▲ $3.25M ▲
Q3-2025 $-14.769M ▼ $1.2M ▲ $1.544M ▲ $-6.782M ▼ $-4.038M ▼ $-4.256M ▲
Q2-2025 $-6.571M ▲ $-6.11M ▼ $-2.47M ▲ $12.515M ▲ $3.935M ▲ $-8.58M ▼
Q1-2025 $-16.23M $-643K $-3.392M $1.093M $-2.942M $-4.035M

Five-Year Company Overview

Income Statement

Income Statement Lifecore is a small, specialized business with fairly steady revenue but limited scale. Sales have inched up only slightly over the past few years, so growth has been modest rather than rapid. Gross profit has been reasonably stable, which suggests the core service offering has some pricing power and operational know‑how. The challenge is that overhead and other costs still weigh heavily on results. Profitability has been very uneven. The company has posted losses in most years, with only a brief return to profit before slipping back into the red. This pattern points to a business that is still in transition, with earnings highly sensitive to utilization of its facilities and the timing of customer projects.

Balance Sheet

Balance Sheet The balance sheet shows a company that has become leaner over time but also more financially fragile. Total assets have shrunk meaningfully, which may reflect divestitures, write‑downs, or a deliberate effort to narrow the business. While this can sharpen focus, it also leaves less backing behind the company. Cash levels are low, giving the business only a modest cushion against shocks. Debt remains significant compared with the size of the company, even though it has been reduced from earlier years. Equity has eroded over time, which means there is less of a capital buffer if performance disappoints. Overall, financial flexibility looks limited, and the company appears quite sensitive to operational or market setbacks.

Cash Flow

Cash Flow Cash generation has been weak and inconsistent. Cash flow from day‑to‑day operations has hovered around breakeven in recent years, with some periods of outflows. That suggests the core business is not yet reliably throwing off cash on its own. Free cash flow has been consistently negative, mainly because the company continues to invest in its manufacturing base and capabilities. While these investments can support future growth, they currently require outside funding or balance sheet resources to sustain. This profile points to a business still in a build‑out phase, where maintaining liquidity and access to capital is crucial.

Competitive Edge

Competitive Edge Lifecore occupies a focused, high‑skill niche in the contract development and manufacturing space for sterile injectables. Its strengths include deep expertise in handling very thick, hard‑to‑process injectable products; decades of experience with injectable‑grade hyaluronic acid; and a strong record with regulators. These capabilities are not easy to copy and create real barriers for would‑be competitors. The company also benefits from long‑term relationships and multi‑year supply agreements with larger pharmaceutical partners, which can provide visibility and stickiness once projects reach commercialization. On the other hand, Lifecore is small compared with global peers and likely relies heavily on a limited set of key customers and programs. That concentration, combined with its tight financial position, makes it more exposed to delays, cancellations, or regulatory surprises on a few important projects.

Innovation and R&D

Innovation and R&D Innovation at Lifecore is centered on process and manufacturing technology rather than traditional drug discovery. The company has developed proprietary high‑pressure sterile filtration for difficult, high‑viscosity drugs, advanced aseptic fill‑finish lines, and a vertically integrated setup for hyaluronic acid from fermentation through to final formulation. These are meaningful technical advantages in a complex part of the industry. Lifecore is also leaning into growth areas such as biologics and peptide drugs, including the fast‑growing GLP‑1 segment, and has a sizable portfolio of client programs in development, with several at late clinical stages. Partnerships, such as its collaboration with PolyPeptide Group, aim to offer broader, end‑to‑end solutions. The upside is clear: if even a portion of this pipeline advances to commercial scale and fills the new capacity, revenue and margins could improve. The risk is that progress is uncertain and timing can be slow, while the company’s financial cushion is limited during the waiting period.

Summary

Lifecore Biomedical combines a strong technical and regulatory position in a specialized corner of the injectables market with a relatively fragile financial profile. Operationally, it has real strengths: niche expertise that is hard to replicate, a long history in hyaluronic acid, advanced sterile manufacturing infrastructure, and trusted relationships with larger pharmaceutical customers. Its focus on complex biologics and high‑growth areas like GLP‑1s, along with a meaningful development pipeline, offers clear growth potential if projects mature as planned. Financially, though, the picture is more strained. Revenue is modest and has grown only slowly. Profitability has been volatile with frequent losses, the asset base and equity have shrunk, cash reserves are thin, and free cash flow remains negative as the company continues to invest. In essence, Lifecore looks like a specialized, capability‑rich CDMO that is still in the middle of a strategic and financial transition. Future outcomes will depend heavily on successfully ramping utilization of its expanded capacity, converting late‑stage programs into commercial contracts, and carefully managing debt and liquidity along the way.

NEWS

November 11, 2025 · 4:05 PM UTC

Lifecore Biomedical to Participate in Upcoming Investor Conferences

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November 6, 2025 · 4:05 PM UTC

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

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October 30, 2025 · 4:05 PM UTC

Lifecore Biomedical to Report Financial Results for the Three Months Ended September 30, 2025, on November 6, 2025

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October 29, 2025 · 7:00 AM UTC

Lifecore Biomedical Selected as New Commercial Manufacturing Partner by Leading Global Pharmaceutical Company

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October 28, 2025 · 7:00 AM UTC

Lifecore and PolyPeptide Announce Collaboration Intended to Offer End-to-End Peptide Manufacturing Solution for U.S. Market

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