Beyond Meat, Inc. · NASDAQ:BYND
Beyond Meat — Q4 2020 Earnings Presentation
22 slides from Beyond Meat's earnings presentation, Feb 25, 2021
Slide 1: Investor Presentation
Investor Presentation (NASDAQ: BYND) February 25, 2021
Slide 2: Forward-looking statements
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 business strateg
Slide 3: 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 4: Business Overview
ER eo 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 5 We begin with meat’s COMPOSITION versus its animal ORIGIN Then replicate its core structure & sensory experience Microscopy Compar
Slide 6: 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 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 7 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 8: Recent Notable Updates
rp co Recent Notable Updates
Slide 9: Our Approach Has Made Us a Leading Disruptor in the Meat Category
$1.4tn Size of the Global Meat Category1 Our Approach to Product and Strategy has Made Us a Leading Disruptor in the Meat Category 9 We are Disrupting the Largest Category in Food 1 According to Fitch Solutions Macro Research, a division of Fitch Solutions, research data, August 6, 2018. 2 As of end
Slide 10: Total Distribution and Brand Awareness
Total Distribution and Brand Awareness 10 Total Outlets (Worldwide)1 ~31,000 ~122,000 294% US Retail ~17,000 ~28,000 65% US Foodservice ~12,500 ~42,000 236% International Retail2 ~150 ~34,000 22,567% International Foodservice2 ~1,500 ~18,000 1,100% 1 Totals may not add up due to rounding. 2 Presenta
Slide 11: U.S. Retail Velocity and Market Share Trends
U.S. Retail Velocity and Market Share Trends 11 42% (9)% (8)% Last 52 Weeks* Last 12 Weeks* Last 4 Weeks* +446 bps +204 bps +206 bps Last 52 Weeks Last 12 Weeks Last 4 Weeks Beyond Meat Velocity Growth (YoY)1 ($/TDP) Beyond Meat Market Share Growth (YoY)2 Source: SPINS Data through December 27, 2020
Slide 12: Sales by Distribution Channel
Sales by Distribution Channel 12 U.S Retail $50 $129 $264 2018 2019 2020 Net Revenues ($ 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 ~28,000 December 2020 $21 $70 $61 201
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 January 2021 UK Permanent Item Customers Products International 13 We continue to expand our foodse
Slide 14: Financial Update
eae co Financial Update
Slide 15: Fourth Quarter 2020 Financial Highlights
• Net revenues increased 3.5% to $101.9 million, primarily driven by increased retail channel sales, largely offset by a decline in foodservice channel sales due to the continued impact of COVID-19 on foodservice demand levels • Adjusted gross margin2, which excludes $3.7 million in costs attributab
Slide 16: Net Revenue Growth by Channel
Net Revenue Growth by Channel 16 Net Revenue by Channel 1 Unaudited 2 SPINS Consumer Panel Data as of 12/27/2020 Highlights 2018 2019 2020 1 U.S Retail 97% 160% 104% U.S Foodservice 231% 240% (14)% International Retail 445% 1,432% 136% International Foodserivce 1,859% 403% (45)% Consolidated 170% 23
Slide 17: Gross Margin and Operating Expense Update
• YoY gross margin decline primarily driven by lower net price per pound driven by the company’s strategic investments in promotional activity, and product mix shifts as larger-pack items carrying a lower net price per unit volume accounted for a greater proportion of the company's retail net revenu
Slide 18: Appendix
Appendix
Slide 19: Reconciliation of Adjusted Gross Profit and Adjusted Gross Margin
Reconciliation of Non-GAAP Financial Measures Reconciliation of Adjusted Gross Profit and Adjusted Gross Margin (unaudited) 19 Three Months Ended Year Ended (in thousands) December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Gross profit, as reported $ 25,405 $ 33,461 $ 122,275 $
Slide 20: Reconciliation of Adjusted Net (Loss) Income
Reconciliation of Non-GAAP Financial Measures Reconciliation of Adjusted Net (Loss) Income and Adjusted Net (Loss) Income per Diluted Common Share (unaudited) 20 Three Months Ended Year Ended (in thousands) December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Net loss, as reported
Slide 21: Reconciliation of Adjusted EBITDA
Reconciliation of Non-GAAP Financial Measures Reconciliation of Adjusted EBITDA (unaudited) 1 Primarily 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. 2 Comprised of $3.7 million in costs at
Slide 22: Sy = GOBEYOND
Sy = GOBEYOND