Local Bounti Corporation (NYSE:LOCL) Q4 2022 Earnings Call Transcript

Kathleen Valiasek: Yes. Hi. Good morning and thank you so much for the question. So we typically don’t give out our CapEx numbers kind of per facility or spend per year. We will give a more refined update when we do our Q1 earnings call in a few weeks. We just typically don’t give the spend upfront in the beginning of the year, but we will give a more refined answer Q1 earnings call.

Jeff Drezner: Got it. Okay. And then maybe just an update on how the off-take agreement with Sam’s Club is progressing, how many locations you’re in? And what are you seeing in terms of velocity?

Craig Hurlbert: Yes. Great question. Brian, do you want to start with that one?

Brian Cook: Yes, I can. So thank you for the question, Jeff. So the off-take agreement is going really well. All the indicators and KPIs that we go over with them continue to be positive. So we’re really happy with where that program is to date. We’re currently in one of their DCs, and by the end of Q2 we’ll be in all 3 DCs in the Southeast.

Craig Hurlbert: Yes. So that relationship is progressing very nicely, and a lot more to come there.

Jeff Drezner: Got it. Got it. Thanks. And then just if I can squeeze one more in. Maybe what are some things you’re learning or some of the €“ from the unexpected; anything you’re learning from the integration of the Stack & Flow Technology in the Georgia facility and what maybe has been unexpected?