Beyond Meat, Inc. · NASDAQ:BYND
Beyond Meat — Q4 2019 Earnings Presentation
21 slides from Beyond Meat's earnings presentation, Feb 27, 2020
Slide 1: Investor Presentation February 27, 2020
(NASDAQ: BYND) INVESTOR PRESENTATION February 27, 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: Business Overview
BUSINESS OVERVIEW
Slide 4: 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 5: 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 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 6: 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
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Slide 8: Our Approach 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 the Net Revenues ($ millions) Largest Category in Food $1.4tn $270bn $297.9 Size of the Global Meat Size of the U.S. Meat Category¹ Category¹ Beyond Meat is the Future of Protein 239% ~2x 2018
Slide 9: Momentum Has Continued Post-IPO
Momentum Has Continued Post-IPO 1 International (excluding Canada) refers to both retail and foodservice points of distribution. 2 Unaided brand awareness represents results of the answer to, “what brands, if any, come to mind when you think of a meat alternative product?” At IPO based on Oct 2018 s
Slide 10: The Beyond Meat Brand Has Maintained Its Solid Momentum In U.S. Retail
The Beyond Meat Brand Has Maintained Its Solid Momentum In U.S. Retail Velocity Growth and Market Share Gains Continue to Drive Strong Performance in U.S. Retail Channels 1 1 Beyond Meat Velocity Growth (YoY) Beyond Meat Market Share Growth (YoY) ($/TDP) 127% +954 bps +907 bps 115% +834 bps 106% Las
Slide 11: Beyond Meat is Building a Track Record of Success
Beyond Meat is Building a Track Record of Success We are Poised to Achieve Growth Across Three Distribution Channels Retail Restaurant and Foodservice International1 Net Revenues ($ millions) Net Revenues ($ millions) Select Customers and Distributors $145 $153 $51 $37 $25 $7 2017 2018 2019 2017 201
Slide 12: 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 food We continue to focus on innovation,
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Slide 14: Q4 2019 Performance Update Highlights
Q4 2019 Performance Update Highlights Net revenues increased 212% to $98.5mm, primarily due to an increase in volume sold in our Fresh product platform across Retail and Restaurant and Foodservice channels, increased sales to international customers, expansion in the number of points of distributi
Slide 15: Sales Growth by Platform and Channel
Sales Growth by Platform and Channel Gross Revenues by Platform Net Revenues by Channel¹ Highlights YoY Growth (%) YoY Growth (%) Strong revenue growth, with multiple levers to further 2018 2019 2018 2019 accelerate growth: Fresh 351 % 275% Retail 99 % 185 % ― Brand awareness Restaurant and Frozen
Slide 16: Evolution of Quarterly Revenues
Evolution of Quarterly Revenues Quarterly Net Revenues ($ millions) YoY 107% 212% 180% 175% 215% 287% 250% 212% Growth (%) $98.5 $92.0 $67.3 $40.2 $31.5 $26.3 $17.4 $11.5 $12.8 $9.4 $6.2 $5.6 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 As we have s
Slide 17: Improving Margin Profile
Improving Margin Profile Gross Profit and Margin OpEx and OpEx % of Net Revenues Highlights Gross Margins Operating Expenses² as % of Net Revenues Gross margin benefits from transition to fresh product platform and increased sales (6.7)% 20.0% 33.5% 51.8% 33.7% volume R&D as % of Net Revenues Co
Slide 18: Targeted Long-Term Margin Structure
Targeted Long-Term Margin Structure ~Mid to High-30s 33.5% 20.0% Gross Margin 2018A 2019A Long-Term ~Mid-teens 8.5% Adjusted EBITDA -22.0% as a % of Net Revenues1 2018A 2019A Long-Term 1 See appendix for reconciliation of Adjusted EBITDA as a % of net revenues to net loss as a % of net revenues. 17
Slide 19: Appendix
APPENDIX
Slide 20: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation to Adjusted EBITDA (unaudited) 1 In connection with the termination of an exclusive supply agreement with a co-manufacturer in May 2017, we recorded restructuring expenses related to the impairment write-off of long-lived assets, primarily
Slide 21: Go Beyond
“Wey. GO BEYOND’