Beyond Meat, Inc. · NASDAQ:BYND
Beyond Meat — Q3 2020 Earnings Presentation
22 slides from Beyond Meat's earnings presentation, Nov 9, 2020
Slide 1: Investor Presentation
(NASDAQ: BYND) Investor Presentation November 9, 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
Business Overview
Slide 5: We Use Proprietary Science to Redefine Meat
We Use Proprietary Science to Redefine Meat Beyond Meat’s Proprietary Technology & Process 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 Comparin
Slide 6: Committed to Providing Products that Enable Consumers to Eat What You Love
We are Committed to Providing Products that Enable Consumers to Eat What You LoveTM 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,
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
Recent Notable Updates
Slide 9: Our Approach to Product and Strategy has Made Us a Leading Disruptor in the Meat Category
Our Approach to Product and Strategy has Made Us a Leading Disruptor in the Meat Category We are Disrupting Net Revenues ($ Millions) the Largest Category in Food $1.4tn $270bn $297.9 $304.8 Size of the Global Meat Size of the U.S Meat YoY YoY Category1 Category1 Growth Growth 239% 53% Beyond Meat i
Slide 10: Continued Momentum in Distribution Growth and Awareness
Continued Momentum in Distribution Growth and Awareness September At IPO Growth 2020 Total Outlets (Worldwide)1 ~31,000 ~122,000 294% US Retail ~17,000 ~28,000 65% US Foodservice ~12,500 ~42,000 236% International Retail2 ~150 ~33,000 21,900% International Foodservice2 ~1,500 ~19,000 1,167% July At
Slide 11: Velocity and Market Share Gains Continue to Drive Growth in U.S Retail Channels
Velocity and Market Share Gains Continue to Drive Growth in U.S Retail Channels Beyond Meat Velocity Growth (YoY)1 Beyond Meat Market Share Growth (YoY)2 ($/TDP) 74% +614 bps +272 bps +212 bps 15% 3% Last 52 Weeks Last 12 Weeks Last 4 Weeks Last 52 Weeks Last 12 Weeks Last 4 Weeks Source: SPINS Data
Slide 12: Beyond Meat is Building a Track Record of Success
Beyond Meat is Building a Track Record of Success U.S Retail U.S Foodservice International Net Revenues ($ Millions) Net Revenues ($ Millions) Net Revenues ($ Millions) $202 $70 $98 $129 $44 $45 $62 $57 $94 $21 $50 $17 2018 2019 2019 YTD 2020 YTD 2018 2019 2019 YTD 2020 YTD 2018 2019 2019 YTD 2020 Y
Slide 13: Recent Notable Updates
Recent Notable Updates Beyond Meat Rapid & Relentless Innovation Program Is Designed to Make Our Existing Products Obsolete, Generate New Products & Platforms, and Serve A Widening Circle of Customers Customers Products International We continue to expand our We continue to focus on innovation, Avai
Slide 14: Financial Update
. Financial Update
Slide 15: Q3 2020 Performance Update
Q3 2020 Performance Update Highlights ($) millions Q3’20 Q3’19 Change • Net revenues increased 2.7% to $94.4 million, Net Revenues $94.4 $92.0 2.7% primarily driven by increased retail channel sales, largely offset by a decline in foodservice channel sales due to the continued impact of Gross Profit
Slide 16: Net Revenue Growth by Channel
Net Revenue Growth by Channel Net Revenue by Channel Highlights YoY Growth (%) • Sustained revenue performance, with multiple levers for growth: 2018 2019 2019 YTD 2020 YTD U.S ◦ Continue growing total outlets 97% 160% 157% 115% Retail and growing sales at existing U.S 231% 240% 220% 4% ~122,000 out
Slide 17: Gross Margin and Operating Expense Update
Gross Margin and Operating Expense Update Gross Profit and Margin OpEx and OpEx % of Net Revenue2 Highlights Gross Margin Operating Expenses2 as % of Net Revenues • YoY gross margin decline primarily driven by lower net 20.0% 33.5% 33.2% 31.8% 33.0% 39.9% price realization as a result of higher trad
Slide 18: Appendix
Fi 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) Three Months Ended Nine Months Ended (in thousands) September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 Gross profit, as reported $ 25,528 $ 32,783 $ 96
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) Three Months Ended Nine Months Ended (in thousands) September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 Net (loss) in
Slide 21: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation of Adjusted EBITDA (unaudited) Three Months Ended Nine Months Ended (in thousands) September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019 Net (loss) income, as reported $ (19,285) $ 4,099 $ (27,675) $ (11,991) Income t
Slide 22: a Z O Lu co O O Ao
a Z O Lu co O O Ao