Financial Data and Key Metrics Changes - Total net revenues decreased by 13.3% to $70.2 million in Q3 2025 compared to $81 million in the year-ago period, primarily driven by a 10.3% decrease in the volume of products sold and a 3.3% decrease in net revenue per pound [20][21] - Gross margin fell to 10.3% in Q3 2025 from 17.7% in the year-ago period, impacted by lower volumes and higher trade discounts [8][26] - Net loss was $110.7 million in Q3 2025 compared to $26.6 million in the year-ago period, with net loss per common share increasing to $1.44 from $0.41 [30][31] Business Line Data and Key Metrics Changes - U.S. retail net revenues decreased by 18.4% to $28.5 million, driven by a 12.6% decrease in volume and a 6.6% decrease in net revenue per pound [23] - U.S. food service net revenues decreased by 27.3% to $10.5 million, primarily due to a 27.1% decrease in volume [24] - International retail net revenues decreased by 4.6% to $15.8 million, with a 12.5% decrease in volume partially offset by a 9.1% increase in net revenue per pound [24][25] Market Data and Key Metrics Changes - The plant-based meat category continues to face general softness, with two of the top three markets in the EU also experiencing year-over-year declines [22] - The U.S. market is seeing reduced points of distribution and weak category demand, impacting overall sales [22][23] Company Strategy and Development Direction - The company is focused on a turnaround strategy, including addressing misinformation about plant-based meats, rebuilding distribution, and reducing operating expenses [10][15][17] - New product innovations, such as Beyond Chicken Pieces and the Beyond Test Kitchen, are aimed at enhancing consumer engagement and product visibility [11][12][14] - The company is targeting a gross profit margin of over 30% and aims to achieve EBITDA-positive operations as soon as possible [31][40] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment with the current quarter's results but emphasized ongoing efforts to reset the business for sustainable growth [6][19] - The macroeconomic environment remains challenging, making it difficult to forecast operating results beyond a limited horizon [33] - The company anticipates net revenues in Q4 2025 to be in the range of $60 million to $65 million, reflecting ongoing demand weakness [33] Other Important Information - The company successfully reduced debt levels by approximately $900 million, nearly 75% of total leverage, and extended the maturity of most of its debt profile [6][34] - Cash and cash equivalents were $131.1 million as of September 27, 2025, with net cash used in operating activities increasing to $98.1 million for the nine months ended September 27, 2025 [31][32] Q&A Session Summary Question: What is currently holding the company back from achieving higher gross profit margins? - Management indicated that lower top-line revenue is the main drag on margins, along with higher material costs and the impact of a depreciation charge related to China operations [38][39] Question: Can you provide an update on the cash balance following recent financing activities? - Management noted that the cash balance would include proceeds from the ATM program, but specific figures could not be provided at that time [41][42]

EL SEGUNDO, Calif., Nov. 10, 2025 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND) (“Beyond Meat” or “the Company”), a leader in plant-based meat, today reported financial results for its third quarter ended September 27, 2025. Third Quarter 2025 Financial Highlights1 Net revenues were $70.2 million, a decrease of 13.3% year-over-year.Gross profit was $7.2 million, or gross margin of 10.3%, compared to gross profit of $14.3 million, or gross margin of 17.7%, in the year-ago period. Gross profit and gros ...

Core Insights - Beyond Meat reported disappointing financial results for Q2 2025, primarily due to ongoing softness in the plant-based meat category, particularly in the U.S. retail channel and certain international foodservice markets [3][9][24] - The company is implementing cost-reduction measures, including a workforce reduction of approximately 44 employees, representing about 6% of its total global workforce, to strengthen its financial profile [4][6] - Net revenues decreased by 19.6% year-over-year to $75.0 million, driven by an 18.9% decrease in product volume sold and a 0.9% decrease in net revenue per pound [7][9][10] Financial Performance - Gross profit for Q2 2025 was $8.6 million, with a gross margin of 11.5%, down from $13.7 million and 14.7% in the previous year [7][19] - Loss from operations was $38.8 million, compared to a loss of $33.9 million in the same period last year, reflecting increased operational challenges [7][19] - Net loss was $33.2 million, or $0.43 per share, an improvement from a net loss of $34.5 million, or $0.53 per share, in the prior year [20][21] Revenue Breakdown - U.S. retail channel net revenues fell by 26.7% to $32.9 million, primarily due to a 24.2% decrease in volume sold [10][14] - U.S. foodservice channel net revenues increased by 6.8% to $11.1 million, driven by a 4.4% increase in net revenue per pound [11][14] - International retail channel net revenues decreased by 9.8% to $15.9 million, while international foodservice channel revenues dropped by 25.8% to $15.1 million [12][13] Cost Management Initiatives - The company anticipates one-time cash charges of approximately $0.8 million to $1.3 million related to the workforce reduction, with expected savings of $5.0 million to $6.0 million in cash compensation expenses over the next twelve months [5][6] - Operating expenses were $47.4 million, slightly down from $47.6 million in the previous year, with reductions in marketing and selling expenses [17][18] Future Outlook - Beyond Meat is not providing full-year guidance due to uncertainty in the operating environment but expects Q3 2025 net revenues to be in the range of $68 million to $73 million [24][23] - The company is focusing on strengthening its balance sheet and pursuing margin expansion initiatives despite the challenging market conditions [3][22]