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Lifecore Biomedical Reports Fourth Quarter and Fiscal Year End 2024 Financial Results and Provides Corporate Update
Lifecore Biomedical (NASDAQ: LFCR) reported its fiscal year 2024 results, showing strong revenue growth of 24.2% to $128.3 million.
Lifecore Biomedical (NASDAQ: LFCR) reported its fiscal year 2024 results, showing strong revenue growth of 24.2% to $128.3 million.
The company's CDMO business grew 27%, while its HA raw material manufacturing increased 18%.
Gross profit rose 49.5% to $41.9 million, with margin expanding to 32.6%.
Key highlights include:
Net income from continuing operations of $9.3 million, compared to a loss of $64.2 million in FY2023
Adjusted EBITDA increased 82.2% to $20.2 million
New 5-head isolator filler expected to be GMP-ready in September 2024
For fiscal 2025, Lifecore projects revenue between $126.5-$130 million and Adjusted EBITDA of $19-$21 million.
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