Beyond Meat, Inc. · NASDAQ:BYND
Beyond Meat — Q3 2021 Earnings Presentation
23 slides from Beyond Meat's earnings presentation, Nov 10, 2021
Slide 1: Investor Presentation November 10, 2021
Investor Presentation (NASDAQ: BYND) November 10, 2021
Slide 2: Forward-looking statements
Certain statements in this presentation constitute “forward-looking statements" within the meaning of the federal securities laws. These statements are based on management's current opinions, expectations, beliefs, plans, objectives, assumptions and projections regarding financial performance, prosp
Slide 3: Forward-looking statements (continued)
our suppliers’ facilities; the impact of marketing campaigns aimed at generating negative publicity regarding our products, brand and the plant-based industry category; the effectiveness of our internal controls; our significant indebtedness and ability to pay such indebtedness; risks related to our
Slide 4: 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 the Company's operations and a
Slide 5: Business Overview
i Business Overview
Slide 6: 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 6 We begin with meat’s COMPOSITION versus its animal ORIGIN Then replicate its core structure & sensory experience Microscopy Compar
Slide 7: Committed to Providing Products that Enable Consumers to Eat What You Love
29% Of the water in agriculture is directly or indirectly used for animal production 3 78% Of all agricultural land is used for livestock, including grazing land and cropland dedicated to the production of feed4 30% Of most cancers in developed countries attributed to dietary factors, including cons
Slide 8: Innovation is at the Core of our Company and a Key Differentiator
Innovation is at the Core of our Company and is a Key Differentiator 8 Innovation Strategy Led by Highly Respected Team of Scientists State-of-the-Art Innovation Center • Large, experienced team composed of scientists, engineers, researchers, technicians, and chefs • Work seamlessly with internal ch
Slide 9: Recent Notable Updates
i Recent Notable Updates
Slide 10: Our Approach Has Made Us a Leading Disruptor in the Meat Category
$1.4tn Size of the Global Meat Category1 Our Approach to Product and Strategy has Made Us a Leading Disruptor in the Meat Category 10 We are Disrupting the Largest Category in Food 1 According to Fitch Solutions Macro Research, a division of Fitch Solutions, research data, August 6, 2018. 2 As of en
Slide 11: Total Distribution and Brand Awareness
Total Distribution and Brand Awareness 11 1 Totals may not add up due to rounding. 2 Presentation of International distribution outlets now includes Canada, which was historically combined with US distribution. 3 Unaided brand awareness represents results of the answer to, “what brands, if any, come
Slide 12: U.S. Retail Velocity and Market Share Trends
U.S. Retail Velocity and Market Share Trends 12 Source: SPINS Data through October 3, 2021 1 Includes aggregate data for Beyond Meat products across all Frozen and Refrigerated Plant-Based Meats in the US MULO channel only 2 Includes aggregate data for Beyond Meat products across all Frozen and Refr
Slide 13: Sales by Distribution Channel
Sales by Distribution Channel 13 U.S Retail Net Revenues ($ Millions) U.S Foodservice International Select Customers Select Highlight Retail points of distribution across the United States carrying Beyond Meat products ~17,000 At IPO ~34,000 September 2021 Net Revenues ($ Millions) Net Revenues ($ M
Slide 14: Recent Notable Updates: Customers, Products, International
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 14 We continue to expand our foodservice partnerships, with the an
Slide 15: Financial Update
a Financial Update
Slide 16: Q3 2021 Financial Highlights
• Net revenues increased 13% to $106.4 million, primarily due to increased sales to international customers, which increased 143% compared to the year-ago period, mainly reflecting expansion of overall distribution, accelerated orders, and, to a lesser extent, new product introductions. The increase
Slide 17: Net Revenue Growth by Channel
Net Revenue Growth by Channel 17 Net Revenue by Channel 1 Unaudited 2 SPINS Consumer Panel Data as of 10/03/2021 Q3 2021 Highlights 2019 2020 2020 YTD1 2021 YTD1 U.S Retail 160% 104% 115% (4%) U.S Foodservice 240% (14%) 4% 23% International Retail 1,432% 136% 135% 186% International Foodservice 403%
Slide 18: Gross Margin and Operating Expense Update
1 See appendix for reconciliation of Adjusted EBITDA 2 Restructuring expenses are included in SG&A operating expenses Gross Margin and Operating Expense Update 18 • YoY gross margin decrease primarily driven by increased transportation costs, increased inventory write-offs, higher warehousing costs,
Slide 19: Appendix
| = Appendix
Slide 20: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation of Adjusted gross profit, Adjusted gross margin and Adjusted net loss (unaudited) 20
Slide 21: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation of Adjusted net loss per diluted common share (unaudited) 21
Slide 22: Non-GAAP reconciliation footnotes
1Primarily comprised of legal and other expenses associated with the dispute with a co-manufacturer with whom an exclusive supply agreement was terminated in May 2017. 2Comprised of $1.8 million in costs attributable to COVID-19, consisting of $1.1 million in inventory write-offs and reserves associ
Slide 23: Go Beyond
“Wey GOBEYOND