Local Bounti Corporation (NYSE:LOCL) Q2 2023 Earnings Conference Call August 9, 2023 8:00 AM ET

Company Participants

Jeff Sonnek - SVP, ICR

Anna Fabrega - CEO

Kathleen Valiasek - CFO

Conference Call Participants

Kristen Owen - Oppenheimer

Ben Klieve - Lake Street Capital Markets

Brian Wright - ROTH MKM

Operator

Good morning, and welcome to the Local Bounti's Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. After today's presentation there will be an opportunity to ask questions. Please also note that today's event is being recorded.

At this time, I'd like to turn the conference over to Jeff Sonnek, Investor Relations at ICR. Please go ahead.

Jeff Sonnek

Thank you, and good morning. Today's presentation will be hosted by Local Bounti's Chief Executive Officer, Anna Fabrega and Chief Financial Officer, Kathleen Valiasek. The comments made during today's call contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

All statements other than statements of historical facts are considered forward-looking statements. These statements are based on management's current expectations and beliefs as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from the results discussed in the forward-looking statements. Some of these risks and uncertainties are identified and discussed in the company's filings with the SEC.

We'll also refer to certain non-GAAP financial measures today. Please refer to the press release, which can be found on our Investor Relations website, investors.localbounti.com, for reconciliations of non-GAAP financial measures to their most directly comparable GAAP measures.

With that, I'd now like to turn the call over to Anna. Go ahead.

Anna Fabrega

Thank you, Jeff, and welcome to everyone on the call today. This is a pivotal time in Local Bounti's journey, and I'm thrilled to join you today for my first earnings call as the Company's CEO. I'm proud to be part of this organization, and I'm excited to address the opportunities we have ahead of us.

I believe that our Stack & Flow Technology represents the most innovative and economically viable CEA approach for sustainable agriculture. I was attracted to Local Bounti because of its mission and the amazing people behind it.

Agriculture has been a part of my entire life. In fact, my dad still runs a farm in Panama where he grows teak and coffee. I have a deep appreciation for the hard work and limitations that conventional farming methods require, which traditionally has limited producers to specific geographies and approaches.