Beyond Meat, Inc. Earnings Recaps
Q2 2026
Aug 8, 2026
Beyond Meat’s shares plunged 16.8% after the company revealed continued revenue decline and persistent margin weakness weighed on investor sentiment, despite some sequential improvement and cost reductions.
Key takeaways
- Net revenues declined 8.2% year-over-year to $68.8 million, though slightly above management’s guidance range.
- Gross margin improved modestly to 8.5%, still low and burdened by accelerated depreciation from China operations, which suppressed margin by over two points.
- Operating expenses fell 15% sequentially and 19% year-over-year, contributing to a modest EBITDA loss improvement to negative $27.7 million.
- Cash usage (excluding financing) dropped 44% year-over-year to approximately $18 million.
- Regional weakness persisted in U.S. retail and foodservice despite double-digit retail growth in Europe and Canada; ongoing misinformation campaigns continue to pressure U.S. sales.
Q1 2026
May 8, 2026
Beyond Meat's shares declined 2.8% following Q1 2026 results, reflecting investor caution despite steady revenue and modest margin improvement. Market reaction likely signals concern over continued top-line decline and limited gross margin progress amid restructuring headwinds.
Key takeaways
- Q1 net revenues of $58.2 million were flat versus expectations but down year-over-year, highlighting persistent headwinds in the plant-based meat category.
- Gross margin improved both sequentially and year-over-year but remained well short of an achievable target, hindered by inventory from a low-volume period in Q4 2025.
- Adjusted EBITDA showed sequential and annual improvement, though significant work remains to return to profitability.
- Cash use fell to $11.8 million for the quarter, marking a notable sequential and year-over-year reduction as restructuring and cost-cutting measures gain traction.
- Management outlined strategic pivots toward broader functional food and beverage categories, launching Beyond Immerse, a multi-nutrient clear protein drink set to debut in New York this summer with Big Geyser distribution.
Q3 2025
Nov 13, 2025
Beyond Meat reported a challenging Q3 2025 with a 13.3% year-over-year decline in revenue, though significant strides were made to restructure the balance sheet by reducing debt by approximately $900 million.
Key takeaways
- Net revenue of $70.2 million, down 13.3% year-over-year, within guided range but indicative of ongoing category challenges.
- Gross margin decreased to 10.3% from 17.7% as higher trade promotions and lower volumes pressured financials.
- Completed a significant balance sheet restructuring, reducing total debt by nearly 75%, with a path to further reductions of over 90%.
- Focused on addressing misinformation about plant-based products while introducing new offerings aimed at improving taste and nutritional profiles.
- Operational improvements noted, with operating expenses declining sequentially despite substantial nonroutine costs.