Limoneira Revenue Plunges 47% to $18.2M as Q1 Loss Widens

Limoneira Company (NASDAQ: LMNR), an agribusiness focused on citrus farming and real estate, reported total revenue of $18.2 million for the three months ending January 31, 2026, down 47% from $34.3 million in the year-ago quarter. The sharp revenue decline drove the company to a net loss of $9.4 million, compared to a net loss of $3.1 million in the same quarter of fiscal 2025. Read more earnings reports.

The loss per share widened to $0.53 from $0.18 in the prior-year period. Operating loss for the quarter reached $10.6 million, more than double the $5.3 million operating loss posted a year earlier.

Net revenue from continuing operations fell to $16.8 million from $32.9 million, while cost of goods sold declined to $23.0 million from $33.5 million. Selling, general and administrative expenses dropped to $4.6 million from $6.5 million.

Cash burn accelerated during the quarter. Cash from operations was negative $11.7 million, compared to negative $12.9 million in the prior-year quarter. Cash from investing activities totaled negative $3.4 million, while financing activities brought in $15.3 million, largely offsetting operational outflows.

The company's balance sheet showed total assets of $307.5 million as of January 31, 2026, down from $311.1 million at the end of October 2025. Long-term debt stood at $89.9 million, up sharply from $72.5 million at the prior fiscal year-end. Current assets declined to $26.0 million from $40.5 million over the same period.

Retained deficit widened to $12.0 million from $1.1 million at October 31, 2025. The company had 18.1 million common shares outstanding as of January 31, 2026.