Beyond Meat Stock Earnings Reports

Key points for investors: Beyond Meat (Beyond) reported Q1 2026 net revenues of $58.2M, down 15.3% year-over-year driven by a ~19.5% decline in volume; net revenue per pound rose ~5.4%. Gross profit improved to $2.0M (3.4% margin) from a gross loss a year ago, helped by lower inventory provisions, manufacturing efficiencies and SKU rationalization, though margin improvement was partially obscured by high-cost inventory flow-through from Q4 2025 and lower fixed-cost absorption due to reduced volumes. Adjusted EBITDA loss narrowed to -$27.8M (‑47.7% of revenues) from -$50.5M a year earlier. Cash use for the quarter was $11.8M—the lowest quarterly cash consumption in over two years—with cash & equivalents of $205.8M at quarter-end. Total debt carrying value was $411.6M after convertible-note exchanges and related accounting impacts; subsequent conversions of additional 2030 notes occurred after quarter-end. Operational progress: consolidated production network, activated continuous line in Columbia, MO, reduced inventory and operating expenses (~$14M y/y reduction), exited less-profitable lines and advanced plans to exit China. Product and go-to-market developments: company is broadening to adjacent functional food & beverage categories under the “Beyond” strategy and will launch Beyond Immerse (20g protein, 7g fiber, antioxidants, electrolytes, 100 calories, no added sugar/artificial sweeteners) in New York this summer via distributor Big Geyser; continued retail innovation with new Beyond Chicken Pieces Spicy Buffalo (~2,000 Kroger stores), nationwide Beyond Breakfast Sausage rollout at Kroger/Sprouts/Whole Foods (coming), and consumer traction on Beyond Steak Filet via DTC. Food-service demand remains weak, especially QSR sales, and international food service volumes declined. Management expects Q2 2026 net revenues of ~$60M–$65M, anticipates sequential margin improvement driven by seasonally higher volumes, improved mix, and the diminishing impact of the Q4 inventory flow-through, and reiterates focus on top-line recovery, margin expansion, and continued cost/transformation actions.