Local Bounti Announces CEO Transition, Projecting $28M in 2023 Sales
December 16, 2023
🌥️Trending News
Local Bounti ($NYSE:LOCL), a leading provider of mobile and online loyalty solutions, has recently announced a transition in their CEO. This change is projected to bring in $28 million in sales by the year 2023. Through its digital platform, the company offers a variety of products and services such as reward programs, loyalty points, and personalized offers, enabling customers to engage with their favorite brands. Its solutions are available for both mobile and online platforms, making them accessible to users anywhere. This CEO transition is expected to bring more innovative solutions and an improved customer experience for Local Bounti’s offerings. With the new CEO on board, the company also aims to increase its customer base as well as bolster its market share.
In addition, Local Bounti plans to leverage its current customer base to drive sales directly and indirectly, working towards the goal of $28 million by 2023. The CEO transition is a strategic move for Local Bounti, one that has the potential to lead to higher levels of success in the near future. The company’s leadership and commitment to innovation is sure to give their customers an unforgettable loyalty experience.
Market Price
On Friday, LOCAL BOUNTI announced a transition in its executive leadership, with the current chief executive officer (CEO) of the company stepping down and a new leader being chosen. The company’s stock opened at $2.4 and closed at the same price, representing a 1.2% decrease since the previous closing price of $2.5. The new CEO is projected to bring innovative ideas to the company, with the aim of reaching $28 million in sales by 2023. The incoming CEO is confident that their approach will help bring LOCAL BOUNTI to the forefront and make them a leader in the industry.
The company is committed to continuing its focus on helping small businesses expand and compete in today’s economy. LOCAL BOUNTI has made considerable strides in recent years and is looking forward to the potential this new CEO brings to the table. They are confident that the new leadership will help them reach their goals and will bring further success in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Local Bounti. More…
| Total Revenues | Net Income | Net Margin |
| 27.33 | -84.99 | -372.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Local Bounti. More…
| Operations | Investing | Financing |
| -38.24 | -172.38 | 145.05 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Local Bounti. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 377.48 | 299.68 | 9.41 |
Key Ratios Snapshot
Some of the financial key ratios for Local Bounti are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -229.2% |
| FCF Margin | ROE | ROA |
| -624.9% | -44.5% | -10.4% |
Analysis
GoodWhale is taking a closer look at the local BOUNTI‘s fundamentals to determine what type of investors may be interested in this company. The Star Chart shows that LOCAL BOUNTI is classified as a ‘cheetah’. Cheetahs are companies that have achieved high revenue or earnings growth but are considered less stable due to lower profitability. When we take a look at LOCAL BOUNTI’s overall health score, we can see that it has scored a 4/10 with regard to its cashflows and debt. This indicates that the company is in decent health and should be able to safely ride out any crisis without the risk of bankruptcy. When analyzing LOCAL BOUNTI’s fundamentals across different categories, we can see that it is strong in growth, but weak in assets, dividends, and profitability. These are all important metrics to consider when determining what type of investors may be interested in such a company. More…
Peers
– Kalera AS ($NASDAQ:APPH)
AppHarvest Inc is a publicly traded company with a market capitalization of 185.3 million as of 2022. The company has a return on equity of -28.49%. AppHarvest is a vertically integrated agriculture technology and services company. The company’s mission is to build a more sustainable food system by revolutionizing the way food is grown and distributed. AppHarvest is headquartered in Lexington, Kentucky.
– AppHarvest Inc ($OTCPK:ALFDF)
Astral Foods Ltd is a South African poultry producer. The company has a market cap of 416.45M as of 2022 and a Return on Equity of 17.23%. Astral Foods Ltd is the second-largest poultry producer in South Africa and the largest in Africa. The company supplies chicken to major retailers, fast-food outlets, and the export market.
Summary
Local Bounti has seen significant growth since its founding, and is now announcing a CEO transition as the company sets its sights on the future. According to projections, Local Bounti is expected to reach $28 million in sales by 2023. From an investment standpoint, the company’s current trajectory and future goals make it an attractive long-term investment option.
Local Bounti’s loyal customer base and strong market share should contribute to the company’s continued success. With a new CEO and strategic plans in place, investors can feel confident that Local Bounti will continue to expand and provide strong returns.
Related Posts
Recent Posts
