Beyond Meat Inc. · Q1 2022 earnings

Briefing

Beyond Meat's financial performance was marked by a slight increase in net revenues, offset by a significant decrease in gross profit and a substantial net loss, influenced by strategic investments and cost-intensive measures.

Beyond Meat reported a modest 1.2% increase in net revenues to $109.5 million for Q1 2022, but faced a significant decline in gross profit, resulting in a net loss of $100.5 million. The company's results were impacted by increased trade discounts, list price reductions, and higher manufacturing and logistics costs, alongside investments in marketing and headcount.

• Net revenues increased by 1.2% year-over-year, reaching $109.5 million.
• Gross profit significantly decreased to $0.2 million, with a gross margin of 0.2%.
• Net loss was $100.5 million, or $1.58 per common share.
• Adjusted EBITDA resulted in a loss of $78.9 million, representing -72.1% of net revenues.

Headline financials

Revenue & EPS history

The Company reaffirmed its full year 2022 revenue outlook, expecting net revenues to be in the range of $560 million to $620 million, an increase of 21% to 33% compared to 2021.