Business
Beyond Meat® Reports First Quarter 2026 Financial Results
EL SEGUNDO, Calif., May 06, 2026 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND), otherwise known as Beyond The Plant Protein CompanyTM (the “Company” or “Beyond Meat”), today reported financial results for its first quarter ended March 28, 2026. First Quarter 2026 Financial Highlights1 Net revenues were $58.2 million, a decrease of 15.3% year-over-year.Gross profit was $2.0 million, or gross margin of 3.4%, compared to gross loss of $6.9 million, or gross margin of -10.1%, in the year-ago
About this update from Beyond Meat, Inc.
EL SEGUNDO, Calif., May 06, 2026 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND), otherwise known as Beyond The Plant Protein CompanyTM (the “Company” or “Beyond Meat”), today reported financial results for its first quarter ended March 28, 2026. First Quarter 2026 Financial Highlights1 ________________________________1 This release includes references to non-GAAP financial measures. Refer to “Non-GAAP Financial Measures” later in this release for the definitions of the non-GAAP financial measures presented and a reconciliation of these measures to their closest comparable GAAP measures. Beyond Meat President and CEO Ethan Brown commented, “This quarter marked a decisive broadening of our Company aperture to include the rapidly growing functional food and beverage category. Even as we apply our brand, expertise and technology to adjacent markets, we remain highly focused on the performance of our core business, which we believe will deliver substantial long-term value. To this end, we are pleased to report significant operating expense improvement and our lowest quarterly cash use in over two years.” Brown continued, “We look forward to continuing this transformative work across the balance of the year.” First Quarter 2026 Net revenues decreased 15.3% to $58.2 million in the first quarter of 2026, compared to $68.7 million in the year-ago period. The decrease in net revenues was primarily driven by a 19.5% decrease in volume of products sold, partially offset by a 5.4% increase in net revenue per pound. The decrease in volume of products sold was primarily driven by lower sales of burger and chicken products to Quick Service Restaurant (“QSR”) customers in the international foodservice channel, and by weak category demand and reduced points of distribution in the U.S. retail and foodservice channels. The increase in net revenue per pound was primarily driven by changes in product sales mix and favorable changes in foreign currency exchange rates, partially offset by higher trade discounts. U.S. retail channel net revenues decreased 15.3% to $26.6 million in the first quarter of 2026, compared to $31.4 million in the year-ago period. The decrease in U.S. retail channel net revenues was primarily driven by a 14.7% decrease in volume of products sold and a 0.6% decrease in net revenue per pound. The decrease in volume of products sold was primarily driv...