Core Viewpoint - Beyond Meat has experienced a significant decline in stock value, with shares dropping nearly 98% over the past five years, indicating severe challenges in revenue growth and market performance [1]. Company Summary - Beyond Meat is a plant-based meat company that has struggled with consistent revenue growth, leading to a drastic decrease in its stock price [1]. Industry Context - The plant-based meat industry faces competitive pressures and market challenges that may impact companies like Beyond Meat, contributing to their financial difficulties [1].

Financial Data and Key Metrics Changes - Net revenue for Q2 2025 was $75 million, down 19.6% from $93.2 million in the same period last year, primarily due to an 18.9% decrease in volume sold and a 0.9% decrease in net revenue per pound [25][26] - Gross margin decreased to 11.5% in Q2 2025 from 14.7% a year ago, impacted by reduced volume and unfavorable product mix [17][32] - Net loss for Q2 2025 was $33.2 million, or a loss of $0.43 per share, compared to a net loss of $34.5 million, or a loss of $0.53 per share, in the prior year [34] Business Line Data and Key Metrics Changes - U.S. Retail channel net revenues decreased 26.7% to $32.9 million, driven by a 24.2% decrease in volume sold and a 3.2% decrease in net revenue per pound [27] - U.S. Foodservice net revenues increased 6.8% to $11.1 million, primarily due to a 4.4% increase in net revenue per pound and a 2.3% increase in volume sold [30] - International Retail channel net revenues decreased 9.8% to $15.9 million, driven by a 13.1% decrease in volume sold, partially offset by a 3.9% increase in net revenue per pound [31] Market Data and Key Metrics Changes - The U.S. Retail channel faced significant challenges due to higher pricing compared to animal protein, negative narratives surrounding plant-based products, and reduced distribution points [12][13] - International Foodservice experienced a decline due to lapping significant promotional activity from the previous year and macroeconomic conditions affecting customer demand [16][60] Company Strategy and Development Direction - The company is focusing on a fundamental reset to stabilize the business and achieve EBITDA positive operations by 2026, including significant expense reductions and gross margin expansion [6][20] - Plans to deepen distribution of core products in U.S. Retail and reposition the brand to emphasize "Beyond" as the primary identifier, expanding beyond animal protein replication [9][10] - The appointment of an interim Chief Transformation Officer aims to enhance operational efficiency and reduce costs [6][79] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment with Q2 results, citing ongoing softness in the plant-based meat category and the need for a reset [5][21] - The company believes current challenges are transient and anticipates that consumer trends will eventually shift back in favor of plant-based products [22][63] - Future product offerings, such as Beyond Ground, are expected to capture consumer interest by emphasizing nutritional benefits rather than replicating animal protein [50][65] Other Important Information - Adjusted EBITDA loss was $26 million, or -34.7% of net revenues, compared to a loss of $23 million, or -24.7% of net revenues, in the prior year [35] - Cash and cash equivalents were $117.3 million, with total outstanding debt of approximately $1.2 billion as of June 28, 2025 [35] Q&A Session Summary Question: What measures will be taken to scale up the top line while reducing expenses? - Management highlighted the need to stabilize the U.S. Retail business and build brand blocks in key retailers to improve distribution and sales velocity [42][49] Question: What has changed in the international foodservice channel? - Management noted a softening in the international foodservice sector due to macroeconomic conditions and shifting animal protein prices, affecting customer menus [59][60] Question: How will the company address the issue of lapsed consumers? - Management emphasized the importance of stabilizing the business and addressing misinformation while focusing on the nutritional benefits of their products to attract flexitarian consumers [61][63]

Core Viewpoint - Beyond Meat, Inc. is set to report its financial results for the second quarter of 2025 on August 6, 2025, after market close, indicating ongoing transparency and engagement with investors [1]. Financial Reporting - The financial results will cover the period ended June 28, 2025, showcasing the company's performance in the second quarter [1]. - A conference call will be held at 5:00 p.m. Eastern, 2:00 p.m. Pacific, allowing investors to discuss the results live [1]. Company Overview - Beyond Meat is a leading company in the plant-based meat sector, offering products made from simple ingredients without GMOs, added hormones, or antibiotics, and with 0 mg of cholesterol per serving [3]. - Founded in 2009, the company aims to replicate the taste and texture of animal-based meat while promoting better health and environmental sustainability [3]. - The brand's promise, "Eat What You Love®," reflects its commitment to positively impacting human health, climate change, natural resource constraints, and animal welfare through a shift to plant-based proteins [3].

Core Insights - Planet Based Foods Global Inc. has announced a leadership transition with the appointment of Claire Skillen as Chief Executive Officer, President, and Director, effective immediately [1] - The leadership change is part of the company's renewed strategic direction aimed at enhancing its market strategy and product innovation [5] Leadership Profile - Claire Skillen brings over 15 years of leadership experience across health, natural resources, and technology sectors, with a strong track record in driving innovation and sustainable growth [2] - Skillen holds a Bachelor of Science in Physical Geography and Climatology, a Master of Business Administration, and a Master of Arts in Counseling Psychology, providing a unique blend of strategic business acumen and human systems insight [2] Strategic Focus - Under Skillen's leadership, the company aims to advance a revitalized market strategy, accelerate product innovation, and activate partnerships within the global plant-based ecosystem [5] - The company is focusing on commercialization, international expansion, and innovation in sustainable food systems [6] Vision and Commitment - Skillen emphasized the company's commitment to leading in sustainable, functional food solutions, bridging agriculture, technology, and nutrition [4] - The company is dedicated to environmental stewardship and aims to empower food manufacturers and consumers to participate in a more sustainable global food system [7]

Group 1 - Planet Based Foods Global Inc. has announced a change to its board of directors, effective immediately [1] - The company has appointed Olha Yushchenko, David Eaton, William Blake Aaron, and Dawn Wattie to its leadership team, enhancing governance and bringing fresh perspectives [2][4] - William Blake Aaron will transition from Corporate Secretary to Director and Audit Committee Chair, with gratitude expressed for his previous contributions [3] Group 2 - The CEO, Sigal Shapira, emphasized the importance of the new directors' expertise in public and private sector leadership, capital markets, finance, and corporate law for the company's growth in the plant-based food sector [4] - Planet Based Foods is committed to advancing the plant-based food industry through sustainable food ingredients and innovative solutions, focusing on quality and environmental responsibility [5]

Financial Data and Key Metrics Changes - In Q1 2025, net revenues decreased by 9.1% to $68.7 million compared to $75.6 million in the same period last year, primarily due to an 11.2% decrease in volume sold, partially offset by a 2.4% increase in net revenue per pound [18][19] - Gross profit was a loss of $1.1 million, resulting in a gross margin of negative 1.5%, compared to a gross profit of $3.7 million and a gross margin of 4.9% in the prior year [25][26] - Net loss was $52.9 million in Q1 2025, compared to a net loss of $54.4 million in the same period last year, with net loss per share at $0.69 compared to $0.84 [28][29] Business Line Data and Key Metrics Changes - U.S. Retail channel net revenues decreased by 15.4% to $31.4 million, driven by a 23.2% decrease in volume sold, partially offset by a 10% increase in net revenue per pound [20][21] - U.S. Foodservice net revenues decreased by 23.5% to $9.4 million, primarily due to a 22% decrease in volume sold and a 2% decrease in net revenue per pound [23] - International retail channel net revenues increased by 0.8% to $12.7 million, driven by a 10.3% increase in net revenue per pound, despite an 8.6% decrease in volume sold [24] Market Data and Key Metrics Changes - Consumption data indicated a progressive weakening in U.S. retail takeaway during Q1 2025, contributing to weaker shipments than expected [21] - International foodservice channel net revenues increased by 12.1% to $15.3 million, primarily due to a 13.5% increase in volume sold [25] Company Strategy and Development Direction - The company aims to achieve EBITDA positive on a run rate basis by the end of 2026, focusing on reducing operational expenses and optimizing manufacturing towards margin objectives [10][32] - A new marketing campaign, "Real People, Real Results," is being launched to improve consumer perception and drive demand for plant-based products [14][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that Q1 2025 was disappointing due to worsening category and macroeconomic conditions impacting top-line recovery [5][6] - The company has withdrawn its full-year guidance due to elevated uncertainty in the operating environment, limiting revised outlook to Q2 net revenue expectations of $80 million to $85 million [32][66] Other Important Information - The company closed a financing facility providing up to $100 million in new senior secured debt, which will help support strategic priorities and liquidity [16][30] - The company is focusing on dispelling misinformation about its products and enhancing consumer understanding of the benefits of plant-based diets [13][41] Q&A Session Questions and Answers Question: What potential initiatives could be taken to stabilize the top line in the U.S. market? - Management indicated that restoring distribution lost due to product transitions and improving consumer perception through marketing efforts are key initiatives [37][39] Question: Can more details be shared about the financing agreement of the $100 million? - The financing facility has an initial term of approximately five years with an interest rate of 12% for drawdowns, increasing to 17.5% after the maturity date [45][46] Question: What is the outlook regarding tariffs and demand uncertainty? - Management noted that while there are discussions around tariffs, the direct impact on the business is considered minimal, but consumer confidence remains a concern [68][70]

Financial Data and Key Metrics Changes - In Q1 2025, net revenues decreased by 9.1% to $68.7 million compared to $75.6 million in the same period last year, primarily driven by an 11.2% decrease in volume sold, partially offset by a 2.4% increase in net revenue per pound [19][20] - Gross profit was a loss of $1.1 million, resulting in a gross margin of negative 1.5%, compared to a gross profit of $3.7 million and a gross margin of 4.9% in the prior year [27][28] - Net loss was $52.9 million in Q1 2025, compared to a net loss of $54.4 million in the same quarter last year, with net loss per share improving from $0.84 to $0.69 [30][31] Business Line Data and Key Metrics Changes - U.S. Retail channel net revenues decreased by 15.4% to $31.4 million, driven by a 23.2% decrease in volume sold, partially offset by a 10% increase in net revenue per pound [21][22] - U.S. Foodservice net revenues decreased by 23.5% to $9.4 million, primarily due to a 22% decrease in volume sold and a 2% decrease in net revenue per pound [25] - International retail channel net revenues increased by 0.8% to $12.7 million, driven by a 10.3% increase in net revenue per pound, despite an 8.6% decrease in volume sold [26] Market Data and Key Metrics Changes - Consumption data indicated a progressive weakening in U.S. retail takeaway during Q1 2025, contributing to weaker shipments than expected [22][23] - International foodservice channel net revenues increased by 12.1% to $15.3 million, primarily due to a 13.5% increase in volume sold [27] Company Strategy and Development Direction - The company aims to achieve EBITDA positive on a run rate basis by the end of 2026, focusing on reducing operational expenses and optimizing manufacturing towards margin objectives [11][34] - A new marketing campaign, "Real People, Real Results," is being launched to improve consumer perception and drive demand for plant-based products [16][17] Management Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in Q1 2025 due to worsening category and macroeconomic conditions, impacting top-line recovery [5][6] - The company has withdrawn its full-year guidance due to elevated uncertainty in the operating environment, limiting revised outlook to Q2 net revenue expectations of $80 million to $85 million [34][70] Other Important Information - The company closed a financing facility providing up to $100 million in new senior secured debt, aimed at enhancing liquidity and supporting strategic priorities [17][32] - Operating expenses in Q1 2025 were $55.1 million, a decrease from $57.1 million in the previous year, including $7.2 million in transient expenses [29][30] Q&A Session Summary Question: What initiatives could be taken to stabilize the top line in the U.S. market? - Management highlighted the importance of restoring distribution lost due to product transitions in retail and emphasized the need to improve consumer perception through effective messaging and marketing campaigns [39][42] Question: Can you provide more details on the financing agreement? - The financing facility has an initial term of approximately 4.75 years, with interest accruing at 12% initially and 17.5% thereafter, payable in kind [47][49] Question: What is the outlook regarding tariffs and demand uncertainty? - Management indicated that while there are discussions around tariffs, the direct impact on the business is minimal, but consumer confidence remains a concern that could affect demand [72][74] Question: What is the expected run rate for SG&A in the coming quarters? - Management noted that extraordinary items in Q1 would not repeat, and they expect a normalization of legal expenses, with ongoing impacts from the suspension of operations in China [76][86]

Core Viewpoint - Beyond Meat has successfully closed a financing facility providing up to $100 million in new senior secured debt from Unprocessed Foods, an affiliate of Ahimsa Foundation, to support its growth plans and strategic priorities [1][2]. Financing Details - The financing agreement includes a senior secured delayed-draw term loan facility of $100 million, with interest rates of 12.0% prior to February 7, 2030, and 17.5% thereafter, payable in kind [2][3]. - The initial maturity date can be extended until May 7, 2035, with mutual consent [2]. Investor Insights - Unprocessed Foods will receive warrants proportional to the amount drawn down, allowing them to purchase up to 12.5% of Beyond Meat's outstanding shares at an exercise price of 115% of the average daily volume weighted average prices for a 30-day period starting May 8, 2025, with a minimum price of $2.00 and a maximum of $3.75 [3]. Company Overview - Beyond Meat is a leading plant-based meat company, founded in 2009, offering products made from simple ingredients without GMOs, added hormones, or antibiotics, and with 0 mg of cholesterol per serving [5]. - The company's mission emphasizes the positive impact of shifting from animal-based meat to plant-based protein on human health, climate change, natural resource constraints, and animal welfare [5].

Core Viewpoint - Beyond Meat, Inc. is set to report its financial results for the first quarter ending March 29, 2025, on May 7, 2025, after market close, indicating ongoing transparency and engagement with investors [1]. Company Overview - Beyond Meat, Inc. is a leading company in the plant-based meat sector, offering products made from simple ingredients without GMOs, added hormones, antibiotics, and with 0 mg of cholesterol per serving [3]. - The company was founded in 2009 and aims to replicate the taste and texture of animal-based meat while promoting better health for individuals and the planet [3]. - Beyond Meat's brand promise, "Eat What You Love®," reflects its commitment to addressing global issues such as human health, climate change, resource constraints, and animal welfare through a shift to plant-based proteins [3]. Investor Engagement - A conference call will be held on May 7, 2025, at 5:00 p.m. Eastern, 2:00 p.m. Pacific, for investors to discuss the financial results [1]. - A live webcast of the conference call will be available on the company's website, with an option for archiving [2].