LFCRNasdaqPharmaceutical PreparationsUS GAAP · USD

Lifecore Biomedical, Inc

Lifecore Biomedical is a U.S.-based contract development and manufacturing organization focused on complex sterile injectable products and pharmaceutical-grade hyaluronic acid (HA). It develops, scales, and aseptically fills viscous formulations in syringes, vials, and cartridges for biopharma and medtech customers, while also supplying HA bulk material and HA-based finished products.

Kysy yhtiöstä
Liikevaihto129milj. USD
+0,5 %v/v
Liikevoitto (EBIT)−17,2milj. USD
−95,0 %v/v
EBIT-marginaali−13,4%
−6,5 %-yks.v/v
Nettotulos−38,7milj. USD
−422,3 %v/v
Vapaa kassavirta−13,6milj. USD
+24,9 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−2000200400600milj. USD2020: 590 milj. USD2020: EBIT −39 milj. USD20202021: 544 milj. USD2021: EBIT −13 milj. USD20212022: 186 milj. USD2022: EBIT −41 milj. USD20222023: 103 milj. USD2023: EBIT −22 milj. USD20232024: 128 milj. USD2024: EBIT −8,8 milj. USD20242025: 129 milj. USD2025: EBIT −17 milj. USD2025129−17
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Lifecore Biomedical, Inc

Liiketoiminta

Osuus liikevaihdosta
CDMO development services35 %

Analytical, formulation, scale-up, validation, and clinical development work for injectable products.

Aseptic fill-finish manufacturing40 %

Commercial and clinical aseptic filling of sterile injectables in syringes, vials, and cartridges.

Hyaluronic acid bulk manufacturing20 %

Production and sale of pharmaceutical-grade, non-animal-sourced HA as an API or input.

Other sterile injectable programs5 %

Highly viscous non-HA injectable programs and related manufacturing services.

Tuotteet

Raportoitu · osuus liikevaihdosta
69,9%30,1%FY2025100 %
  • Contract Development and Manufacturing Organization69,9 %
  • HA Manufacturing30,1 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Lifecore sells primarily to global and emerging biopharmaceutical and biotechnology companies that need a partner for complex injectable programs. It also serves customers in medical device and other medical applications that use HA, including ophthalmic, orthopedic, wound care, aesthetic surgery, and drug delivery uses. Academic and corporate research customers are a smaller but relevant segment for early-stage HA applications.

Biopharmaceutical companies

Buy development and commercial manufacturing for sterile injectable drug products and need regulatory, scale-up, and fill-finish support.

Biotechnology companies

Use Lifecore for clinical-to-commercial manufacturing of complex formulations where technical execution and speed matter.

Medical device and ophthalmic customers

Buy HA bulk material and HA-based finished products for ophthalmic and device-related applications.

Orthopedic and specialty care customers

Use HA and viscous injectable capabilities for orthopedic and other specialty medical applications.

Academic and corporate research customers

Purchase HA-related materials and development support for exploratory and early-stage applications.

Strategia

Lifecore is focused on expanding its CDMO footprint by adding aseptic filling capacity, broadening the range of complex injectable programs it can support, and winning new customers outside traditional HA markets. It is also pushing operational efficiency through productivity gains, procurement discipline, and a new ERP system expected to improve inventory control and cost management.

Grow CDMO pipeline and customer baseLyhyt aikaväli

More development and commercial programs increase utilization and diversify revenue beyond HA.

Increase aseptic filling capacityLyhyt aikaväli

Additional capacity supports larger and more complex injectable programs and removes a growth bottleneck.

Improve operating efficiencyKeskipitkä aikaväli

Lower cost structure and better productivity are needed to scale profitably in a competitive CDMO market.

Maantiede

Lifecore is headquartered in Chaska, Minnesota and operates three cGMP facilities in the United States. Its customer base is global, with long-term relationships across the U.S. and international biopharma markets, and it holds certifications from regulators in Europe, Japan, Brazil, and ISO bodies. Geography matters because the business depends on cross-border customer programs, regulatory approvals, and supply chain execution for sterile injectable manufacturing.

Riskit

Lifecore’s results depend on successful execution in a technically demanding CDMO market, where quality failures, regulatory findings, or project delays can quickly affect customer trust and utilization. The company also faces supply chain, tariff, and financing risks because it relies on specialized inputs, capital equipment, and ongoing investment to support growth and compliance.

Järjestetty vakavuuden mukaan
Regulatory inspection or compliance issuesKorkea

Sterile injectable manufacturing depends on cGMP performance and customer trust; adverse findings can delay production or new awards.

Kohdistuu: FDA GMP inspections and global regulatory oversight

Revenue timing on development projectsKorkea

Development revenue is recognized based on estimated hours and project progress, so underestimation can overstate revenue.

Kohdistuu: Clinical and process development contracts

Customer concentration and program delaysKorkea

Long-duration CDMO relationships can be lumpy; delays or cancellations can leave capacity underutilized.

Kohdistuu: Biopharma and biotech sponsor programs

Leverage and liquidity constraintsKorkea

Debt service and refinancing needs can restrict investment and increase sensitivity to operating setbacks.

Kohdistuu: Revolving credit and term debt

Tariffs and supply chain cost inflationKeskitaso

Imported raw materials, components, or equipment could become more expensive and reduce margins.

Kohdistuu: U.S. trade policy and supplier footprint

Kysy Clarifolta: Lifecore Biomedical, Inc

Kirjanpito

Harkinnanvaraiset erät
Over-time revenue recognition for development projects

Management estimates total hours and progress; errors can overstate or understate revenue and margin.

Vaikutus: Development revenue and gross profit

Debt derivative liability fair value

Embedded derivative features are marked to market using management assumptions, creating earnings volatility.

Vaikutus: Other income/expense and net income

Goodwill and indefinite-lived intangible impairment

Valuation depends on market capitalization, forecasts, and qualitative assessments; impairment would reduce earnings and equity.

Vaikutus: Balance sheet carrying values and operating results

Inventory reserves and production costs

Complex injectable manufacturing can create excess or obsolete inventory risk and margin swings.

Vaikutus: Cost of goods sold and gross margin

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Päivitetty: 28.4.2026

Lifecore Biomedical, Inc (Nasdaq) – Pharmaceutical Preparations | Analyysi – Clarifo