On August 7, 2024, Beyond Meat, Inc. released its financial results for the second quarter ending June 29, 2024. The plant-based meat company reported a decrease in net revenues by 8.8% to $93.2 million compared to the previous year. However, gross profit improved to $13.7 million, with a gross margin of 14.7%, a significant increase from the 2.2% margin in the same period last year. The loss from operations narrowed to $33.9 million from $53.8 million year-over-year, and net loss was reduced to $34.5 million, or $0.53 per common share, from a net loss of $53.5 million, or $0.83 per common share. Adjusted EBITDA loss also improved to $23.0 million from $40.8 million. CEO Ethan Brown highlighted progress towards the company's 2024 plan, including exceeding Q2 revenue guidance, reducing operating expenses, and achieving the best...Show More

On August 7, 2024, Beyond Meat, Inc. released its financial results for the second quarter ending June 29, 2024. The plant-based meat company reported a decrease in net revenues by 8.8% to $93.2 million compared to the previous year. However, gross profit improved to $13.7 million, with a gross margin of 14.7%, a significant increase from the 2.2% margin in the same period last year. The loss from operations narrowed to $33.9 million from $53.8 million year-over-year, and net loss was reduced to $34.5 million, or $0.53 per common share, from a net loss of $53.5 million, or $0.83 per common share. Adjusted EBITDA loss also improved to $23.0 million from $40.8 million. CEO Ethan Brown highlighted progress towards the company's 2024 plan, including exceeding Q2 revenue guidance, reducing operating expenses, and achieving the best quarterly gross margin since Q3 2021. Beyond Meat also launched the Beyond IV platform, which has been recognized by leading health organizations. The company updated its full-year 2024 outlook, expecting net revenues between $320 million to $340 million, gross margin in the mid-teens, and operating expenses between $180 million to $190 million, excluding a one-time expense related to a consumer class action settlement.