NASDAQ$BYND
Beyond Meat Inc. · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Beyond Meat reported a significant improvement in gross profit and a reduction in operating expenses for Q4 2024, alongside a slight increase in net revenues.
Beyond Meat achieved its second consecutive quarter of year-over-year net revenue growth, significantly expanded its gross margin, and substantially reduced operating expenses in the fourth quarter of 2024. The company also announced further restructuring initiatives, including a reduction-in-force and suspension of operational activities in China, aiming for an EBITDA-positive run-rate by the end of 2026.
- Net revenues increased by 4.0% year-over-year to $76.7 million in Q4 2024.
- Gross profit improved significantly to $10.0 million (13.1% gross margin) in Q4 2024, compared to a loss of $83.9 million (-113.8% gross margin) in the prior year.
- Loss from operations decreased substantially to $37.8 million (-49.3% operating margin) in Q4 2024, from $160.8 million (-218.2% operating margin) in the prior year.
- Adjusted EBITDA loss narrowed to $26.0 million (-33.9% of net revenues) in Q4 2024, a significant improvement from a loss of $125.1 million (-169.9% of net revenues) in the year-ago period.
Headline financials
Revenue & EPS history
Beyond Meat · Revenue · Quarterly
$76.7M
Revenue by segment
Beyond Meat · $75.3M total across 4 segments · Q3 2023
- U.S. Retail$30.5M-33.9%40.5%
- International Foodservice$18.1M+78.7%24.0%
- International Retail$14.2M+38.8%18.8%
- U.S. Foodservice$12.5M-21.6%16.6%
Forward guidance
For the full year 2025, Beyond Meat expects net revenues to be in the range of $320 million to $335 million, with first quarter net revenues comparable to Q1 2024. Gross margin is expected to be approximately 20%, operating expenses between $160 million and $180 million, and capital expenditures between $15 million and $20 million. The company aims for an EBITDA-positive run-rate by the end of 2026.
Tailwinds
- Targeting comparable year-over-year top line net revenues in 2025, focusing on sustainable operations.
- Aiming to improve gross margin to approximately 20% in 2025, with a longer-term goal of exceeding 30%.
- Planning to further reduce operating expenses over 2025 and 2026 to achieve run-rate EBITDA-positive operations by the end of 2026.
- Intends to strengthen the balance sheet to improve liquidity and optimize capital structure.
- Confidence in the long-term growth of the global plant-based meat industry and the company's leadership position.
Headwinds
- Ongoing uncertainty related to macroeconomic issues, including high inflation and interest rates.
- Prolonged, weakening demand in the plant-based meat category.
- Ongoing concerns about the likelihood of a recession and increased competition.
- Potential for actual charges related to restructuring initiatives (2025 RIF and China RIF) to differ from estimates.
- Risks associated with the suspension of operational activities in China, including one-time cash and non-cash charges.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
-2.0%
Avg return
Earnings day
-0.6%
Avg return
5 days after
-2.0%
Avg return
30 days after
38%
12 / 32 earnings
Positive
+35.1%
Q1 2019
Best reaction
-20.3%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -14.2% | -23.7% | -32.0% | |
| Q4 2025 | +3.2% | +25.2% | +38.8% | |
| Q3 2025 | -9.8% | -19.4% | -11.9% | |
| Q1 2025 | -8.7% | -1.2% | +30.7% | |
| Q4 2024 | -10.7% | -9.3% | -11.8% | |
| Q3 2024 | -8.5% | -17.4% | -28.7% | |
| Q2 2024 | +23.2% | +11.3% | +11.7% | |
| Q1 2024 | -15.1% | -3.9% | -8.3% | |
| Q4 2023 | +31.9% | +31.1% | +11.1% | |
| Q3 2023 | -2.6% | -8.3% | +30.4% | |
| Q2 2023 | -16.8% | -17.5% | -27.3% | |
| Q1 2023 | -16.7% | -12.7% | -1.5% | |
| Q4 2022 | +10.4% | +4.3% | -4.9% | |
| Q3 2022 | +9.1% | +19.4% | +14.2% | |
| Q2 2022 | +12.4% | +8.8% | -31.2% | |
| Q1 2022 | -17.4% | -10.3% | -24.7% | |
| Q4 2021 | -6.1% | +0.0% | +2.6% | |
| Q3 2021 | -16.4% | -14.5% | -34.2% | |
| Q2 2021 | +0.9% | +3.1% | -6.4% | |
| Q1 2021 | -8.9% | -9.8% | +19.7% | |
| Q4 2020 | -4.3% | -8.1% | -14.7% | |
| Q3 2020 | -20.3% | -20.5% | -12.7% | |
| Q2 2020 | -1.2% | -2.1% | -3.4% | |
| Q1 2020 | +32.6% | +40.3% | +43.4% | |
| Q4 2019 | -20.3% | -15.2% | -41.2% | |
| Q3 2018 | +2.9% | +5.2% | -2.0% | |
| Q3 2019 | -18.7% | -18.7% | -19.0% | |
| Q2 2018 | -17.1% | -24.6% | -31.8% | |
| Q2 2019 | -17.1% | -24.6% | -31.8% | |
| Q1 2018 | +12.2% | +34.8% | +32.3% | |
| Q4 2018 | +12.2% | +34.8% | +32.3% | |
| Q1 2019 | +35.1% | +22.8% | +48.8% | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — |
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