LFCR

EX-99.1

2 lfcr-2026q1xex991earningsr.htm

EX-99.1

Document

Exhibit 99.1

Lifecore Biomedical Reports Financial Results for the First Quarter Ended March 31, 2026, and Provides Corporate Update

-- Reaffirms 2026 Guidance --

-- Signed Three New Commercial Site Transfer Programs in First Quarter 2026 --

-- Cost Containment Initiatives Continue to Drive Down Expenses --

Conference Call Today at 8:00am ET

CHASKA, Minn., May 6, 2026 -- Lifecore Biomedical, Inc. (NASDAQ: LFCR) (“Lifecore”), a fully integrated injectables contract development and manufacturing organization (“CDMO”), today announced results for the first quarter ended March 31, 2026.

CEO Commentary

“During the first quarter, Lifecore continued to successfully execute the three pillars of its growth strategy – maximizing our existing commercial business, advancing our development pipeline toward commercialization, and adding high-quality, new programs to our pipeline through business development. We believe our continued execution across these pillars positions Lifecore for sustained growth, including our goal of achieving a 12% revenue CAGR and EBITDA margins above 25% by the end of 2029. In the near-term, we remain confident in our full-year expectations and reaffirm our 2026 guidance.

“Concurrently, we continue to optimize our organization through cost reductions, improved efficiencies, and elevated quality. I am energized by our achievements during the quarter and remain highly optimistic and committed to building on this momentum throughout the year,” stated Paul Josephs, President and Chief Executive Officer of Lifecore.

Financial Snapshot and Recent Developments

•Revenues for the first quarter of 2026 were $23.2 million, a decrease of $12.0 million, or 34%, compared to $35.2 million for the comparable prior year quarter ended February 23, 2025.

•Gross profit margin for the first quarter of 2026 was 19%, 9% below 28% for the comparable prior year quarter ended February 23, 2025.

•Operating expenses for the first quarter of 2026 were $9.1 million, a decrease of $9.7 million, or 52%, compared to $18.9 million for the comparable prior year quarter ended February 23, 2025.

•Cash from operations was $4.7 million and free cash flow* was $3.6 million for the first quarter of 2026.

•Net loss for the first quarter of 2026 was $15.0 million and $0.43 of loss per diluted share, as compared to a net loss of $14.8 million and $0.42 of loss per diluted share, for the comparable prior year quarter ended February 23, 2025.

•Adjusted EBITDA* for the first quarter of 2026 was $1.0 million, a decrease of $4.7 million compared to $5.7 million for the comparable prior year quarter ended February 23, 2025.

•Ended the first quarter of 2026 with approximately $38.1 million in liquidity, including cash of $20.8 million and revolving credit availability of $17.3 million.

•Signed three new commercial site transfer programs in the first quarter of 2026, including two with an existing customer and one with leading medical aesthetics company.

•Implemented key initiatives throughout the organization that we expect will continue to drive margin improvement toward the goal of >25% in the mid-term.

•Successfully launched a new enterprise resource planning (“ERP”) system in January 2026, which we expect will strengthen inventory control, support financial management, and help reduce costs as the company grows.

•Completed multiple audits spanning new business prospects, existing customer expansions and international regulatory bodies. Each audit concluded positively, which we believe further validates Lifecore’s growing reputation as a partner-of-choice for customers seeking exceptional quality standards.

*    Adjusted EBITDA and free cash flow are non-GAAP financial measures and exclude certain items from net income or loss and operating cash flows, respectively, the nearest comparable measures calculated and presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Please see “Non-GAAP Financial Information” below for more information, including definitions of Adjusted EBITDA and free cash flow and reconciliations to net loss and operating cash flows, respectively, for the periods noted in this press release.

Supplemental Financial Data

To provide meaningful period-over-period comparisons, Lifecore has compared the first quarter ended March 31, 2026, to the comparable prior year quarter ended February 23, 2025. This presentation is intended to comply with Securities and Exchange Commission (“SEC”) requirements applicable to fiscal year changes and is intended to assist investors with understanding the changes in the company’s operating results and financial condition.

Supplemental Revenue and Gross Profit Data

Three months endedChange

March 31, 2026February 23, 2025Amount%

(dollars in thousands)

Revenues:

CDMO

$15,775 $20,789 $(5,014)(24)%

HA manufacturing 7,418 14,365 (6,947)(48)%

Total reven

lndc-20260316FALSE000100528600010052862025-11-062025-11-06

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 16, 2026

LIFECORE BIOMEDICAL, INC.

(Exact name of registrant as specified in its charter)

Delaware 000-2744694-3025618 (State or other jurisdiction of incorporation) (Commission file number)(IRS Employer Identification No.)

3515 Lyman Boulevard

Chaska,Minnesota 55318 (Address of principal executive offices)(Zip Code)

(952) 368-4300 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered Common stock, par value $0.001 per shareLFCRThe NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02    Results of Operations and Financial Condition. On March 16, 2026, Lifecore Biomedical, Inc. (the “Company”) issued a press release announcing its consolidated financial results for the fourth quarter and transition period ended December 31, 2025. The press release is furnished herewith as Exhibit 99.1. The information in this Item 2.02 of this Current Report, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that Section. The information in this Item 2.02 of this Current Report, including Exhibit 99.1, shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. Item 7.01    Regulation FD. On March 16, 2026, the Company made available on its website certain investor presentation materials (the “Investor Presentation”). A copy of the Investor Presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated by reference in this Item 7.01. The information furnished in this Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.2 attached hereto) shall not be deemed “filed” for purposes of Section 18 of the Exchange Act and shall not be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. Item 9.01    Financial Statements and Exhibits. (d) Exhibits

Exhibit No.Description 99.1Press Release issued March 16, 2026 by Lifecore Biomedical, Inc.

99.2Lifecore Biomedical Investor Presentation dated March 16, 2026

104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 16, 2026

LIFECORE BIOMEDICAL, INC.

By:/s/ Ryan D. Lake Ryan D. Lake Chief Financial Officer

lndc-20251106FALSE000100528600010052862025-11-062025-11-06

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 6, 2025

LIFECORE BIOMEDICAL, INC.

(Exact name of registrant as specified in its charter)

Delaware 000-2744694-3025618 (State or other jurisdiction of incorporation) (Commission file number)(IRS Employer Identification No.)

3515 Lyman Boulevard

Chaska,Minnesota 55318 (Address of principal executive offices)(Zip Code)

(952) 368-4300 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered Common stock, par value $0.001 per shareLFCRThe NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02    Results of Operations and Financial Condition. On November 6, 2025, Lifecore Biomedical, Inc. (the “Company”) issued a press release announcing its consolidated financial results for the three months ended September 30, 2025. The press release is furnished herewith as Exhibit 99.1. The information in this Item 2.02 of this Current Report, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that Section. The information in this Item 2.02 of this Current Report, including Exhibit 99.1, shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. Item 7.01    Regulation FD. On November 6, 2025, the Company made available on its website certain investor presentation materials (the “Investor Presentation”). A copy of the Investor Presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated by reference in this Item 7.01. The information furnished in this Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.2 attached hereto) shall not be deemed “filed” for purposes of Section 18 of the Exchange Act and shall not be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. Item 9.01    Financial Statements and Exhibits. (d) Exhibits

Exhibit No.Description 99.1Press Release issued November 6, 2025 by Lifecore Biomedical, Inc.

99.2Lifecore Biomedical Investor Presentation dated November 6, 2025

104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: November 6, 2025

LIFECORE BIOMEDICAL, INC.

By:/s/ Ryan D. Lake Ryan D. Lake Chief Financial Officer