Lifecore reaffirms 2026 guidance, cites new manufacturing wins in fiscal Q2

Lifecore Biomedical reported results for the quarter and six months ended June 30, 2026, in an August 5, 2026 release. The company signed six new programs in the second quarter, including two commercial-stage programs, bringing its total to 13 new programs over the trailing 12 months, eight of them late-stage.¹ CEO Paul Josephs said in the past 12 months, the company added 13 new programs to its pipeline, eight of which are late stage.¹

The company said it is reaffirming its revenue guidance for calendar year 2026 of $120 to $125 million, with Adjusted EBITDA guidance of $20.5 to $25 million.¹ Lifecore is targeting a 12% revenue compound annual growth rate and Adjusted EBITDA margins exceeding 25% by the end of 2029.¹ Management said it had more than 40 internal projects underway aimed at cutting costs and improving productivity, which it expects to help margins in the near term and support the 2029 Adjusted EBITDA target.¹

On quality oversight, the company said it completed five customer audits and two regulatory inspections during the quarter, one of the highest audit counts in a single quarter for Lifecore, and passed each one, which it said supports its standing with customers on quality and compliance.¹

Financially, total revenue for the quarter was $34.2 million, down $2.3 million, or 6.2%, from $36.4 million in the comparable prior-year quarter ended May 25, 2025.¹ Net loss for the quarter was $6.2 million, or $0.19 per diluted share, compared with a net loss of $1.1 million, or $0.06 per diluted share, a year earlier.¹ The company said it ended the quarter with about $38.8 million in total liquidity, made up of $17.2 million in cash and $21.6 million in available revolving credit.¹