LIFECORE BIOMEDICAL, INC. \DE\
Business
Lifecore Biomedical is a fully integrated contract development and manufacturing organization (CDMO) offering clinical and commercial development, cGMP manufacturing, and aseptic filling of complex sterile injectable pharmaceutical and medical device products in syringes, vials, and cartridges. The company is a leading U.S. manufacturer of pharmaceutical-grade, non-animal-sourced hyaluronic acid using proprietary fermentation technology, supplying both bulk HA and formulated finished products for ophthalmic, orthopedic, and other medical applications. Lifecore operates three state-of-the-art facilities in Chaska, Minnesota, serving global biopharmaceutical, biotechnology, and specialty companies with development services, aseptic filling, and full supply chain responsibilities across multiple therapeutic modalities.
Summary from 10-K filed 2025-08-07
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-05-31 | FY 2024 2024-05-31 | FY 2023 2023-05-31 | FY 2022 2022-05-31 | FY 2021 2021-05-31 |
|---|---|---|---|---|---|---|
| Revenues | 129 | 128 | 103 | 111 | 101 | |
| Cost of goods sold | 89 | 86 | 75 | 72 | 62 | |
| Gross profit | 40 | 42 | 28 | 39 | 39 | |
| Research and development expenses | 8 | 9 | 9 | 8 | 7 | |
| Selling, general, and administrative expenses | 44 | 40 | 39 | 35 | 28 | |
| Loss on sale or disposal of assets, net of portion classified as cost of sales | 7 | 0 | — | — | — | |
| Restructuring (recovery) costs | −2 | 2 | 4 | 8 | 13 | |
| Operating loss | −17 | −9 | −22 | −12 | −9 | |
| Change in fair value of debt derivative liability, related party | 409,000 | 40 | 0 | 0 | — | |
| Other expense, net | −3,000 | −3 | −1 | 760,000 | −11 | |
| (Loss) income from continuing operations before income taxes | −39 | 10 | −64 | −21 | −30 | |
| Income tax expense | −43,000 | −183,000 | −308,000 | 5 | 6 | |
| (Loss) income from continuing operations | −39 | 9 | — | — | — | |
| Income from discontinued operations | 0 | 3 | — | — | — | |
| Net (loss) income | −39 | 12 | −100 | −117 | — | |
| Preferred stock dividends | −3 | 0 | — | — | — | |
| Accretion of preferred stock to redemption value | −192,000 | 0 | — | — | — | |
| Fair value of conversion ratio improvement to preferred stockholders | −2 | 0 | — | — | — | |
| (Loss) income available to common stockholders | −44 | 12 | — | — | — | |
| (Loss) income from continuing operations available to common stockholders (in dollars per share) | −1.27 | 0.3 | −2.14 | −0.53 | −0.8 | |
| Income from discontinued operations (in dollars per share) | 0 | 0.09 | −1.18 | −3.44 | −0.3 | |
| Basic (loss) income per share (in dollars per share) | −1.27 | 0.39 | −3.32 | −3.97 | −1.1 | |
| (Loss) income from continuing operations available to common stockholders (in dollars per share) | −1.27 | 0.26 | −2.14 | −0.53 | −0.8 | |
| Income from discontinued operations (in dollars per share) | 0 | 0.07 | −1.18 | −3.44 | −0.3 | |
| Diluted (loss) income per share (in dollars per share) | −1.27 | 0.33 | −3.32 | −3.97 | −1.1 | |
| Basic (in shares) | 35 | 30 | 30 | 29 | 29 | |
| Diluted (in shares) | 35 | 37 | 30 | 29 | 29 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-05-31 | FY 2024 2024-05-31 | FY 2023 2023-05-31 | FY 2023 2023-02-28 | FY 2022 2022-11-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 8 | 8 | 19 | 3 | 6 | |
| Current portion of note receivable | 8 | 0 | — | — | — | |
| Contract assets | 7 | 4 | — | — | — | |
| Inventory | 32 | 40 | 41 | 42 | 38 | |
| Prepaid expenses and other current assets | 1 | 1 | 5 | 1 | 2 | |
| Total current assets | 86 | 81 | 94 | 83 | 119 | |
| Property, plant and equipment, net of accumulated depreciation of $57,412 and $50,334 | 129 | 149 | 134 | 126 | 120 | |
| Goodwill | 14 | 14 | 14 | 14 | 14 | |
| Intangible assets, net of accumulated amortization of $3,700 | 4 | 4 | 4 | — | — | |
| Other assets | 7 | 6 | 3 | 3 | 2 | |
| Total assets | 239 | 254 | 254 | 237 | 276 | |
| Accounts payable | 8 | 16 | 22 | 15 | 13 | |
| Accrued expenses and other current liabilities, see note 7 | 22 | 23 | — | — | — | |
| Total current liabilities | 30 | 39 | 39 | 37 | 196 | |
| Debt derivative liability, related party | 25 | 25 | 65 | — | — | |
| Other liabilities | 10 | 12 | 174,000 | 203,000 | 201,000 | |
| Total liabilities | 192 | 200 | 218 | 163 | 205 | |
| Commitments and contingencies, see note 9 | — | — | — | — | — | |
| Series A Redeemable Convertible Preferred Stock, $0.001 par value; 2,000,000 shares authorized; 45,736 and 42,461 shares issued and outstanding, redemption value $46,308 and $42,991 | 46 | 43 | 39 | 39 | — | |
| Common Stock, $0.001 par value; 75,000,000 shares authorized; 37,026,234 and 30,562,961 shares issued and outstanding | 37,000 | 31,000 | 30,000 | 30,000 | — | |
| Additional paid-in capital | 207 | 178 | 174 | 174 | 174 | |
| Accumulated deficit | −205 | −167 | −179 | −139 | −103 | |
| Total stockholders equity | 1 | 11 | −4 | 35 | 71 | |
| Total liabilities, convertible preferred stock and stockholders equity | 239 | 254 | 254 | 237 | 276 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-05-31 | FY 2024 2024-05-31 | FY 2023 2023-05-31 | FY 2022 2022-05-31 | FY 2021 2021-05-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 8 | 8 | 13 | 18 | 20 | |
| Stock-based compensation | 10 | 6 | 4 | 3 | 3 | |
| Non-cash interest expense | 20 | 15 | — | — | — | |
| Change in debt derivative liability, related party | −409,000 | −40 | 0 | 0 | — | |
| Loss on sale or disposal of assets | 8 | 18,000 | — | — | — | |
| Gain on settlement of lease liability | −3 | 0 | — | — | — | |
| Other, net | 49,000 | 2 | 86,000 | −426,000 | −74,000 | |
| Accounts receivable | −2 | −3 | 11 | −6 | 6 | |
| Contract assets | −3 | 871,000 | — | — | — | |
| Inventories | 8 | 862,000 | −15 | −2 | −3 | |
| Other assets | 378,000 | 3 | 2 | −689,000 | — | |
| Accounts payable | −2 | −7 | 16 | 9 | −6 | |
| Accrued expenses and other liabilities | −6 | 2 | — | — | — | |
| Net cash (used in) provided by operating activities | −206,000 | 257,000 | −17 | −23 | 16 | |
| Purchases of property, plant, and equipment | −13 | −18 | — | — | −24 | |
| Proceeds from sale of equipment | 7 | 0 | 0 | 1 | 13 | |
| Net cash used in investing activities | −6 | −18 | −5 | 80 | −12 | |
| Issuance of common stock, net of fees | 24 | 0 | 5 | 0 | 0 | |
| Payments on revolving credit facility | −146 | −147 | — | — | — | |
| Proceeds from revolving credit facility | 129 | 150 | — | — | — | |
| Payments of debt principal | −930,000 | −714,000 | 0 | 0 | — | |
| Payments for debt issuance costs | −435,000 | −231,000 | −6 | −821,000 | −10 | |
| Customer deposit | 0 | 5 | — | — | — | |
| Proceeds from exercise of stock options | 0 | 724,000 | 0 | 0 | — | |
| Proceeds from finance lease incentive | 2 | 0 | — | — | — | |
| Payments related to employee stock plans | −1 | −152,000 | −274,000 | −789,000 | −405,000 | |
| Net cash provided by financing activities | 6 | 8 | 40 | −57 | −3 | |
| Net decrease in cash and cash equivalents | −197,000 | −11 | 17 | 348,000 | 742,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is LIFECORE BIOMEDICAL, INC. \DE\'s CIK number?
LIFECORE BIOMEDICAL, INC. \DE\'s SEC CIK number is 0001005286 (1005286). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find LIFECORE BIOMEDICAL, INC. \DE\'s SEC filings?
All of LIFECORE BIOMEDICAL, INC. \DE\'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did LIFECORE BIOMEDICAL, INC. \DE\ last report earnings?
LIFECORE BIOMEDICAL, INC. \DE\ (LFCR) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001005286-26-000018). This is LIFECORE BIOMEDICAL, INC. \DE\'s most recent earnings filing of record — not a forecast of its next earnings date.
What is LIFECORE BIOMEDICAL, INC. \DE\'s most recent earnings 8-K?
LIFECORE BIOMEDICAL, INC. \DE\'s latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0001005286-26-000018. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
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