Beyond Meat, Inc. · NASDAQ:BYND
Beyond Meat — Q2 2020 Earnings Presentation
22 slides from Beyond Meat's earnings presentation, Aug 4, 2020
Slide 1: Investor Presentation
(NASDAQ: BYND) I NVESTOR P RESENTATION August 4, 2020
Slide 2: Disclaimer
Disclaimer This presentation contains, in addition to historical information, certain forward-looking statements that are based on our current assumptions, expectations and projections about future performance and events and relate to, among other matters, our future financial performance, our busin
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures Beyond Meat uses the non-GAAP financial measures set forth below in assessing its operating performance and in its financial communications. Management believes these non-GAAP financial measures provide useful additional information to investors about current trends in th
Slide 4: Business Overview
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Slide 5: We Use Proprietary Science to Redefine Meat
We Use Proprietary Science to Redefine Meat Beyond Meat’s Proprietary Technology & Processes are Used to Replicate Animal Meat’s Principal Components from Plant Proteins We begin with meat’s COMPOSITION versus its animal ORIGIN Then replicate its core structure & sensory experience Microscopy Compar
Slide 6: Consumers to Eat What You Love
We are Committed to Providing Products that Enable Consumers to Eat What You Love™ 42% 18-51% 78% 60-70 Billion Reduced risk of developing heart Of global greenhouse gas Of all agricultural land is used for Farm animals reared for failure associated with people who emissions driven by livestock, inc
Slide 7: Innovation is at the Core of our Company and is a Key Differentiator
Innovation is at the Core of our Company and is a Key Differentiator Innovation Strategy Led by Highly State-of-the-Art Innovation Center Respected Team of Scientists Large, experienced team composed of scientists, R&D Application Lab engineers, researchers, technicians, and chefs Color / Enca
Slide 8: Recent Notable Updates
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Slide 9: Our Approach to Product and Strategy has Made Us a Leading Disruptor
Our Approach to Product and Strategy has Made Us a Leading Disruptor in the Meat Category We are Disrupting the Net Revenues ($ millions) Largest Category in Food $297.9 $1.4tn $270bn $210.4 Size of the Global Meat Size of the U.S. Meat Category¹ Category¹ Beyond Meat is the Future of Protein YoY Gr
Slide 10: Continued Momentum In Distribution Growth and Awareness
Continued Momentum In Distribution Growth and Awareness 1 Totals may not add up due to rounding. 2 Presentation of International distribution outlets now includes Canada, which was historically combined with US distribution. 3 Unaided brand awareness represents results of the answer to, “what brands
Slide 11: Velocity and Market Share Gains Continue to Drive Robust Performance in U.S. Retail Channels
Velocity and Market Share Gains Continue to Drive Robust Performance in U.S. Retail Channels 1 1 Beyond Meat Velocity Growth (YoY) Beyond Meat Market Share Growth (YoY) ($/TDP) 179% +848 bps +547 bps 88% +445 bps 44% Last 52 Wks Last 12 Wks Last 4 Wks Last 52 Wks Last 12 Wks Last 4 Wks Source: SPINS
Slide 12: Beyond Meat is Building a Track Record of Success
Beyond Meat is Building a Track Record of Success US Retail US Foodservice International Net Revenues ($ millions) Net Revenues ($ millions) Net Revenues ($ millions) $140 $70 $129 $98 $25 $29 $21 $41 $50 $50 $32 $17 2018 2019 2019 YTD 2020 YTD 2018 2019 2019 YTD 2020 YTD 2018 2019 2019 YTD 2020 YTD
Slide 13: Recent Notable Updates
Recent Notable Updates Beyond Meat Rapid & Relentless Innovation Program Is Designed to Make Our Existing Products Obsolete, Generate New Products & Platforms, and Serve A Widening Circle of Customers Customers Products International We continue to expand our We continue to focus on innovation, Now
Slide 14: Financial Update
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Slide 15: Q2 2020 Performance Update
Q2 2020 Performance Update Highlights Net revenues increased 69% to $113.3 million, driven by increased retail channel sales, resulting from expansion in total distribution points, higher sales velocities at existing retail customers and new product introductions Adjusted gross margin1, which ex
Slide 16: Net Revenue Growth by Channel
Net Revenue Growth by Channel Net Revenues by Channel Highlights YoY Growth (%) Strong revenue performance, with multiple levers for 2018 2019 2019 YTD 2020 YTD growth: US 97 % 160 % 141 % 180 % Retail ― Brand awareness US continuing to build 231 % 240 % 221 % 15 % momentum Foodservice Internation
Slide 17: Gross Margin and Operating Expense Update
Gross Margin and Operating Expense Update Gross Profit and Margin OpEx and OpEx % of Net Revenues Highlights Gross Margins Operating Expenses² as % of Net Revenues Gross margin benefits from direct material and packaging cost savings, production 20.0% 33.5% 31.2% 33.9% 34.1% 36.9% efficiency impro
Slide 18: Appendix
en APPENDIX
Slide 19: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation of Adjusted Gross Profit and Adjusted Gross Margin (unaudited) 1 Reflects costs associated with the Company’s efforts to repurpose certain foodservice inventory into retail products as a result of the sudden shift in consumer demand relate
Slide 20: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation of Adjusted Net (Loss) Income and Adjusted Net (Loss) Income per Diluted Common Share (unaudited) 1 Reflects costs associated with the Company’s efforts to repurpose certain foodservice inventory into retail products as a result of the sud
Slide 21: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation of Adjusted EBITDA (unaudited) 1 Primarily comprised of legal and other expenses associated with dispute with a co-manufacturer with whom an exclusive supply agreement was terminated in May 2017. 2 Comprised of $5.9 million in repacking co
Slide 22: Go Beyond
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