BYNDHIGH SIGNALFINANCIAL10-K

Beyond Meat shows dramatic financial deterioration with gross profit collapsing by over 80% while operating cash flow worsened substantially, despite a significant reduction in total debt.

The company's core profitability has deteriorated severely, with gross profit falling to just $7.6M from $41.7M, indicating fundamental challenges in the business model or pricing environment. While management reduced total debt by nearly two-thirds and maintained higher cash levels, the underlying operational performance suggests significant financial stress that debt reduction alone may not resolve.

Comparing 2026-04-09 vs 2025-03-05View on EDGAR →
FINANCIAL ANALYSIS

Beyond Meat's financial position presents a mixed but concerning picture, with gross profit experiencing a dramatic decline while SG&A expenses increased meaningfully to $217.8M. The company strengthened its balance sheet through substantial debt reduction from $1.1B to $415.7M and maintained higher cash reserves at $203.9M, but operating cash flow deteriorated further into negative territory at -$144.9M. The near-elimination of stockholders' equity deficit from -$601.2M to -$997K reflects the debt restructuring, though the underlying operational challenges remain evident in the severely compressed gross margins.

FINANCIAL STATEMENT CHANGES
Stockholders Equity
Balance Sheet
+99.8%
-$601.2M→-$997K

Equity base grew 99.8% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Gross Profit
P&L
-81.7%
$41.7M→$7.6M

Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.

Total Debt
Balance Sheet
-63.6%
$1.1B→$415.7M

Debt reduced 63.6% — deleveraging strengthens balance sheet and reduces financial risk.

Cash & Equivalents
Balance Sheet
+54.6%
$131.9M→$203.9M

Cash position surged 54.6% — strong cash generation or capital raise providing significant financial cushion.

Operating Cash Flow
Cash Flow
-46.7%
-$98.8M→-$144.9M

Operating cash flow fell 46.7% — earnings quality concerns; investigate working capital changes and non-cash items.

SG&A Expense
P&L
+28.3%
$169.7M→$217.8M

SG&A increased modestly — likely reflects growth-related hiring or sales expansion investment.

Inventory
Balance Sheet
-25.9%
$113.4M→$84.0M

Inventory reduced 25.9% — lean inventory management or demand outpacing supply.

Current Liabilities
Balance Sheet
+21.9%
$61.5M→$74.9M

Current liabilities rose 21.9% — increased short-term obligations, watch current ratio.

Current Assets
Balance Sheet
+19.2%
$286.5M→$341.5M

Current assets grew 19.2% — improving short-term liquidity or inventory/receivables build.

R&D Expense
P&L
-17.5%
$28.1M→$23.2M

R&D spending cut 17.5% — could signal cost discipline or concerning reduction in innovation investment.

LANGUAGE CHANGES
NEW — 2026-04-09
PRIOR — 2025-03-05
ADDED
As of April 7, 2026, the registrant had 463,561,581 shares of common stock, $0.0001 par value per share, outstanding.
and international markets on us, our customers, our suppliers, our vendors and consumers, including concerns related to inflation, geopolitical and economic uncertainty and instability, a potential recession, the shutdown of the federal government including regulatory agencies, tariffs and trade wars, and the effects of those conditions on consumer spending; the impact of adverse and uncertain political conditions in the U.S.
Overview Beyond Meat is a leading plant-based meat company offering a portfolio of revolutionary plant-based meats and other innovative plant-based food and beverage products.
We seek to deliver the power of plants to consumers through our plant-based meat products, an innovation that enables consumers to experience the taste, texture and other sensory attributes of popular animal-based meat products while enjoying the nutritional and environmental benefits of eating our plant-based meat products, and adjacent products that deliver taste and macronutrients from plants and plant-based ingredients.
Leveraging our over 17 years of experience in bringing the power of plants to consumers, we also intend to broaden our product portfolio to include plant-based foods and beverages that deliver taste and macronutrients with clean, limited ingredients.
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REMOVED
As of March 4, 2025, the registrant had 76,131,339 shares of common stock, $0.0001 par value per share, outstanding.
and international markets, including concerns about high inflation, and changes resulting from the change in the administration in the U.S., including greater restrictions on free trade through significant increases in tariffs on raw materials, ingredients, finished goods and other products and supplies imported into the U.S.
Risk Factors , and elsewhere in this report, and those discussed in other documents we file from time to time with the Securities and Exchange Commission ( SEC ).
The number of retail and foodservice outlets where Beyond Meat branded products are available was derived from rolling 52- week data as of December 2024 and excludes outlets unique to Beyond Meat Jerky, which we discontinued in 2024 as part of our Global Operations Review.
Overview Beyond Meat is a leading plant-based meat company offering a portfolio of revolutionary plant-based meats.
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