Beyond Meat reported Q2 2024 net revenues of $93.2 million, down 8.8% year-over-year, primarily due to a 14% decrease in sales volume amid weak category demand. Gross profit improved to $13.7 million from $2.3 million last year, with gross margin expanding to 14.7% from 2.2%, driven by lower costs and higher revenue per pound. Net loss narrowed to $34.5 million from $53.5 million in Q2 2023.The company continued implementing cost reduction initiatives, with operating expenses decreasing 15% to $47.6 million. Research and development expenses fell 37.5% to $5.5 million, while selling, general and administrative expenses declined 11.2% to $42.2 million compared to the prior year period. Beyond Meat maintained its focus on sustainable long-term growth through margin recovery and operating expense reduction.As of June 29, 2024, Beyond Meat had $144.9 million in cash and cash equivalents. The company expects to seek additional capital in 2024 and plans to continue reducing operating expenses through its Global Operations Review, which includes optimizing manufacturing capacity, discontinuing select product lines, and reviewing operations in China. Beyond Meat products were available at approximately 130,000 retail and foodservice outlets globally.

Beyond Meat reported Q2 2024 net revenues of $93.2 million, down 8.8% year-over-year, primarily due to a 14% decrease in sales volume amid weak category demand. Gross profit improved to $13.7 million from $2.3 million last year, with gross margin expanding to 14.7% from 2.2%, driven by lower costs and higher revenue per pound. Net loss narrowed to $34.5 million from $53.5 million in Q2 2023.The company continued implementing cost reduction initiatives, with operating expenses decreasing 15% to $47.6 million. Research and development expenses fell 37.5% to $5.5 million, while selling, general and administrative expenses declined 11.2% to $42.2 million compared to the prior year period. Beyond Meat maintained its focus on sustainable long-term growth through margin recovery and operating expense reduction.As of June 29, 2024, Beyond Meat had $144.9 million in cash and cash equivalents. The company expects to seek additional capital in 2024 and plans to continue reducing operating expenses through its Global Operations Review, which includes optimizing manufacturing capacity, discontinuing select product lines, and reviewing operations in China. Beyond Meat products were available at approximately 130,000 retail and foodservice outlets globally.