Beyond Meat, Inc., a leader in plant-based meat alternatives, announced its financial results for the third quarter ended September 28, 2024. The company reported a 7.6% increase in net revenues to $81.0 million compared to the same period last year. Gross profit improved significantly to $14.3 million, with a gross margin of 17.7%, a substantial increase from a gross loss in the previous year. The loss from operations decreased to $30.9 million from $69.6 million year-over-year, and net loss improved to $26.6 million, or $0.41 per common share, from a net loss of $70.5 million, or $1.09 per common share. Adjusted EBITDA loss was also reduced to $19.8 million from $57.5 million. The company's CEO, Ethan Brown, expressed satisfaction with the return to growth and the improvement in margins and...Show More

Beyond Meat, Inc., a leader in plant-based meat alternatives, announced its financial results for the third quarter ended September 28, 2024. The company reported a 7.6% increase in net revenues to $81.0 million compared to the same period last year. Gross profit improved significantly to $14.3 million, with a gross margin of 17.7%, a substantial increase from a gross loss in the previous year. The loss from operations decreased to $30.9 million from $69.6 million year-over-year, and net loss improved to $26.6 million, or $0.41 per common share, from a net loss of $70.5 million, or $1.09 per common share. Adjusted EBITDA loss was also reduced to $19.8 million from $57.5 million. The company's CEO, Ethan Brown, expressed satisfaction with the return to growth and the improvement in margins and operating expenses. Beyond Meat also provided an updated outlook for the full year 2024, expecting net revenues in the range of $320 million to $330 million, with gross margin in the mid-teens and operating expenses between $180 million to $190 million, excluding certain expenses. The company's cash and cash equivalents, including restricted cash, stood at $134.9 million, with total outstanding debt at $1.1 billion as of September 28, 2024.