Beyond Meat, Inc. is a leading company in the plant-based meat industry, developing, manufacturing, marketing, and distributing a portfolio of plant-based meat products. The company aims to replicate the taste, texture, and sensory attributes of animal-based meat while providing nutritional and environmental benefits. Beyond Meat sells a variety of plant-based meat products designed to address global issues such as human health, climate change, and animal welfare.
- Beef Platform - Offers products like the Beyond Burger and Beyond Beef, which are significant contributors to the company's revenue.
- Pork Platform - Includes products such as Beyond Sausage, Beyond Breakfast Sausage Patties, and Beyond Sausage Crumbles, primarily using pea protein, rice protein, and soy protein.
- Poultry Platform - Features products like Beyond Chicken Tenders, Beyond Chicken Nuggets, and Beyond Popcorn Chicken, with protein content derived from faba bean protein and wheat gluten.
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- Considering the loss of distribution in U.S. retail, where two major retailers shifted our products to the frozen aisle, how does management plan to restore full distribution and reverse the resulting decline in volume velocity in the coming quarters?
- With the new $100 million senior secured debt facility accruing interest at 12% (rising to 17.5% later), what specific strategies are in place to mitigate the impact of these high financing costs on our cash flow and overall financial stability?
- Given the challenges in gross margin performance due to lower-than-anticipated sales volumes and increased costs from production start-up issues at the Pennsylvania facility, can management provide a detailed timeline and specific operational measures for achieving normalized production efficiencies?
- In light of the weakened U.S. consumer demand and potential destocking risks highlighted by our category takeaway data, what concrete actions is the management team taking to maintain consumer confidence and prevent further erosion of market share?
- With one-time SG&A expenses—including legal fees, inventory provisions, and China-related charges—significantly impacting our operating results, could management outline the expected run-rate SG&A levels for future quarters once these extraordinary items are normalized?
Research analysts who have asked questions during BEYOND MEAT earnings calls.
Benjamin Theurer
Barclays Corporate & Investment Bank
4 questions for BYND
Alexia Howard
AllianceBernstein
3 questions for BYND
Peter Saleh
BTIG
3 questions for BYND
Robert Moskow
TD Cowen
3 questions for BYND
Kaumil Gajrawala
Jefferies
2 questions for BYND
Kenneth Goldman
JPMorgan Chase & Co.
2 questions for BYND
John Baumgartner
Mizuho Securities
1 question for BYND
Michael Lavery
Piper Sandler & Co.
1 question for BYND
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Cargill | Competes in the conventional animal-protein market and may have substantially greater financial and other resources, as well as lower operational costs, allowing them to offer animal-based products at lower costs than plant-based alternatives. |
Operates in the conventional animal-protein market and also offers plant-based meat products under the brand Happy Little Plants, competing directly in the plant-based category. | |
A major player in the conventional animal-protein market, competing with plant-based meat products by leveraging its established market presence and resources. | |
Perdue Foods | Competes in the conventional animal-protein market, offering products that rival plant-based alternatives in terms of consumer preference and pricing. |
A significant competitor in both the conventional animal-protein market and the plant-based category with its Raised & Rooted brand. | |
Competes in the plant-based meat market, leveraging its affiliation with a large food operator to challenge other plant-based brands. | |
Lightlife and Field Roast (Maple Leaf Foods) | Operates in the plant-based meat market, offering a variety of products that compete directly with other plant-based brands. |
A competitor in the plant-based meat market, offering a range of products that challenge other brands in the category. | |
Hungry Planet, Inc. | Competes in the plant-based meat market, focusing on innovative products to attract consumers. |
Impossible Foods | A direct competitor in the plant-based meat market, known for its innovation and strong market presence. |
Operates in the plant-based meat market, leveraging its established brand to compete with other plant-based products. | |
Moving Mountains | A competitor in the plant-based meat market, focusing on creating innovative plant-based products. |
Omnipork (OmniFoods) | Competes in the plant-based meat market, offering products that cater to diverse consumer preferences. |
Tofurky | A long-standing competitor in the plant-based meat market, known for its variety of plant-based offerings. |
Sweet Earth | Competes in the plant-based meat market, offering a range of products under the Nestlé S.A. umbrella. |
Awesome Burger (Nestlé S.A.) | A competitor in the plant-based meat market, leveraging Nestlé's resources to challenge other brands. |
Tyson's plant-based brand, competing directly in the plant-based meat market. | |
Hormel's plant-based brand, offering products that compete in the plant-based meat category. | |
Competes in the plant-based meat market, leveraging Sysco's distribution network to reach consumers. | |
The Not Company | A competitor in the plant-based meat market, focusing on innovative approaches to plant-based products. |
Competes in the plant-based meat market, leveraging Unilever's resources to challenge other brands. | |
Quorn | Offers mycelium-based meat alternatives, leveraging fermentation technology to compete with plant-based and animal-based products. |
Meati | Develops mycelium-based meat alternatives, focusing on texture and nutritional profiles similar to animal proteins. |
Nature’s Fynd | Competes with mycelium-based meat alternatives, using fermentation technology to create innovative products. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
DOT Foods | Acts as a distributor, purchasing, storing, selling, and delivering Beyond Meat products. | All | Accounted for 12% of Beyond Meat’s gross revenues in 2024, 2023, and 2022. |
Recent press releases and 8-K filings for BYND.
- Beyond Meat, Inc. announced that lock-up restrictions on 316,150,176 shares of its common stock (New Shares), issued on October 15, 2025, in connection with an exchange offer for its 0% Convertible Senior Notes due 2027, will expire on October 16, 2025, at 5:00 p.m., New York City time.
- Following the expiration, holders of these New Shares will be permitted to sell them without contractual restrictions, though approximately 37.45% of these shares were already freely tradeable.
- New Shares previously held under a Contra CUSIP are expected to be allocated into the unrestricted CUSIP for the Company's common stock on October 17, 2025.
- Beyond Meat announced the early tender results for its exchange offer of 0% Convertible Senior Notes due 2027.
- As of October 10, 2025, $1,114,603,000 in aggregate principal amount, representing 96.92% of the outstanding notes, were tendered.
- The early settlement, expected on October 15, 2025, will involve the issuance of $196,217,000 in new 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 and 316,150,176 shares of common stock.
- This exchange is intended to reduce leverage and extend debt maturity for the company.
- Beyond Meat announced an early settlement of its exchange offer for its 0% Convertible Senior Notes due 2027, successfully securing a 96.92% tender rate from bondholders, with approximately $1.11 billion in notes tendered.
- The settlement, scheduled for October 15, 2025, aims to reduce the company's debt burden by exchanging existing notes for new 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 (up to $202.5 million) and up to 326,190,370 shares of common stock.
- Despite the successful debt restructuring effort, Beyond Meat's shares dropped over 60% following the announcement, reflecting investor concerns regarding its ongoing financial challenges and struggling sales.
- Beyond Meat, Inc. commenced an exchange offer on September 29, 2025, to exchange its 0% Convertible Senior Notes due 2027 for new 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 (up to $202.5 million in aggregate principal amount) and up to 326,190,370 shares of common stock.
- This exchange offer, combined with 8,234,230 shares reserved for existing convertible notes and 9,558,635 shares for warrants as of September 25, 2025, could lead to substantial dilution for current shareholders.
- On September 15, 2025, an arbitrator issued an interim award finding that the Company had a valid basis to terminate its agreement with a former co-manufacturer, who had claimed at least $73.0 million in damages.
- The Company cautions that its common stock market price has experienced, and may continue to experience, volatility and inflation, which could result in substantial losses for investors.
- Beyond Meat has initiated an exchange offer to swap its existing 0% Convertible Senior Notes due 2027 for new 9.50% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 and common stock shares. This move aims to eliminate over $800 million of debt and extend the maturity of its obligations.
- Approximately 47% of noteholders have already agreed to this exchange, which also includes amendments to remove restrictive covenants and certain default provisions from the existing notes.
- The new notes allow interest to be paid with additional debt rather than cash, reflecting ongoing financial challenges, and are part of Beyond Meat's broader business transformation strategy to strengthen the balance sheet.
- Beyond Meat, Inc. commenced an exchange offer on September 29, 2025, to exchange its 0% Convertible Senior Notes due 2027 for new 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 (up to $202.5 million in principal amount) and up to 326,190,370 shares of common stock. The company aims to eliminate over $800 million of debt, significantly reduce leverage, and extend maturity.
- The exchange offer is contingent on a minimum of 85% of the existing notes being tendered, with approximately 47% of current noteholders having already committed to support the transaction.
- The company is also soliciting stockholder approval for several proposals, including increasing the number of authorized shares from 500,000,000 to 3,000,000,000 and a reverse stock split, to support the new convertible notes and an amended equity incentive plan.
- In connection with the exchange offer, Ethan Brown (President and CEO) and Nandita Bakhshi will transition off the Board, and Alexandre Zyngier and Raphael ("Ray") Thomas Wallander will be appointed as new directors.
- Beyond Meat, Inc. entered into a Loan and Security Agreement for a senior secured delayed-draw term loan facility of up to $100.0 million. The company drew $40.0 million on June 26, 2025, and an additional $60.0 million on September 18, 2025, with proceeds intended for general corporate purposes.
- In connection with the loan, the company issued warrants to Unprocessed Foods to purchase a total of 9,558,635 shares of common stock at an exercise price of $3.26 per share.
- On September 15, 2025, an arbitrator issued an interim award finding that Beyond Meat, Inc. had a valid basis to terminate its agreement with a former co-manufacturer, who had claimed damages of at least $73.0 million.
- Beyond Meat reported net revenues of $75.0 million for the second quarter of 2025, a 19.6% decrease year-over-year, primarily due to an 18.9% decrease in volume of products sold. The company's net loss for the quarter was $33.2 million, or $0.43 per common share.
- To strengthen its financial profile, the company announced a reduction-in-force of approximately 44 employees in North America, representing 6% of its total global workforce, which is expected to result in $5.0 million to $6.0 million in cash compensation expense savings over the next twelve months.
- Beyond Meat appointed John Boken as interim Chief Transformation Officer on August 6, 2025, with a key objective to assist the company in reaching an annualized EBITDA positive run rate by the fourth quarter of 2026.
- For the third quarter of 2025, Beyond Meat expects net revenues to be in the range of $68 million to $73 million.
- Beyond Meat, Inc. received a $40.0 million Delayed Draw Term Loan on June 26, 2025, from Unprocessed Foods, LLC, as part of a larger facility providing up to $100.0 million.
- The loan carries an annual interest rate of 12.0%, increasing to 17.5% if extended past its February 7, 2030, initial maturity date, with accrued interest payable in kind.
- In connection with the loan, the company issued warrants to Unprocessed Foods to purchase 3,823,454 shares of common stock at an exercise price of $3.26 per share.
- The proceeds from the loan are designated for general corporate purposes.
- Net revenues fell to $68.7 million, marking a 9.1% year-over-year decline, with a gross loss of $1.1 million and a significant operating loss of $56.2 million.
- The company secured a new $100 million senior secured financing facility from an affiliate of Ahimsa Foundation to support its liquidity and balance sheet.
- Management cited macroeconomic uncertainty and a decline in product volume as key challenges, with a focus on achieving EBITDA-positive operations by year-end 2026.