Beyond Meat, Inc., a leader in plant-based meat, reported financial results for its first quarter ended March 29, 2025. The Company also announced a $100 million new senior secured financing.
First Quarter 2025 Financial Highlights
Net revenues were $68.7 million, a decrease of 9.1% year-over-year.
Gross profit was a loss of $1.1 million, or gross margin of -1.5%, compared to gross profit of $3.7 million, or gross margin of 4.9%, in the year-ago period.
Gross profit and gross margin included $4.3 million in non-cash charges arising from specific strategic decisions to increase inventory provision for certain inventory items, and $0.9 million in expenses related to the suspension of the Company’s operational activities in China.
Loss from operations was $56.2 million, or operating margin of -81.8%, compared to loss from operations of $53.5 million, or operating margin of -70.7%, in the year-ago period.
Loss from operations included the following charges recorded in operating expenses: $4.6 million in incremental legal fees associated with arbitration proceedings related to a previously-disclosed contractual dispute with a former co-manufacturer; $1.3 million in non-cash charges arising from specific strategic decisions to increase inventory provision for donation of certain inventory items; and $1.2 million in expenses related to the suspension of our operational activities in China.
Net loss was $52.9 million, or $0.69 per common share, compared to net loss of $54.4 million, or $0.84 per common share, in the year-ago period.
Net loss in aggregate included $12.3 million in expenses related to legal expenses, incremental inventory provision tied to specific strategic decisions, and expenses related to the suspension of our operating activities in China.
Adjusted EBITDA was a loss of $42.3 million, or -61.6% of net revenues, compared to an Adjusted EBITDA loss of $32.9 million, or -43.5% of net revenues, in the year-ago period.
See the full report here.
