Beyond Meat, Inc. (BYND)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$258.8M

Revenue growth

-14.1%

Net income, last twelve months

$289.1M

Earnings per share

-$1.84

Gross margin

3.1%

Operating margin

-121.5%

Net margin

111.7%

Free cash flow

-$118.6M

Return on equity

509.4%

Market value

$3.7B

Cash

$171.4M

Debt

$327.6M

Debt to equity

5.77

Shares outstanding

515.8M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 5 August 2026.

• Revenue fell on lower volume. Net revenues were $68.8 million, down 8.2%. Volume fell 9.5%, partly offset by a 1.3% rise in net revenue per pound.
• Net income positive despite operating loss. Net income was $16.4 million, against a $31.8 million net loss a year earlier. Operating loss was $30.8 million.
• Adjusted EBITDA loss was larger. Adjusted EBITDA loss was $27.7 million, or -40.2% of net revenues, against $24.7 million, or -33.0%, a year earlier. The Adjusted EBITDA definition was also updated.
• U.S. retail sales declined 9.9%. U.S. retail net revenues were $29.6 million, down 9.9%. Volume fell 5.7%, and net revenue per pound fell 4.5% on trade discounts and lower price realization.
• U.S. foodservice sales fell 27.6%. U.S. foodservice net revenues were $8.0 million, down 27.6%. Volume fell 27.4%, and net revenue per pound fell 0.2%.
• International retail rose 16.5%. International retail net revenues were $18.5 million, up 16.5%. Volume rose 8.2% in European markets, the U.K. and Canada, and net revenue per pound rose 7.7%.
• International foodservice down 16.0%. International foodservice net revenues were $12.7 million, down 16.0%. Volume fell 20.4%, while net revenue per pound rose 5.5%.
• Beyond Steak Filet U.S. retail debut. Management cited growth in international retail and the U.S. retail debut of Beyond Steak Filet as highlights in stabilizing the plant-based meat business.
• Beyond Immerse launch described. Management described the Beyond Immerse launch as the first output of an expanded aperture.
• Expansion into adjacent categories. Management said it is repositioning around the company name to pursue faster-growing adjacent categories.
• Gross margin fell to 8.5%. Gross profit was $5.9 million, or an 8.5% margin, against $7.9 million, or 10.6%. Cost of goods sold included $1.6 million of China cessation expenses.
• Cost per pound rose 3.8%. Cost of goods sold per pound rose 3.8%, against a 1.3% rise in net revenue per pound.
• Pricing gains from mix and currency. Net revenue per pound rose on product mix and currency, partly offset by higher trade discounts.
• Operating expenses declined. Operating expenses were $36.7 million, down from $45.4 million, after the arbitration settlement credit.

Revenue by segment

As the company reports it in the segment note of its annual report.

By region, FY2025

Company events

The newest 8-K filings of 115 held.

Every filing

The newest filings with the SEC of 229 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

1 funds held it at 30 Jun 2026: 0 added and 0 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Mondelez International, Inc. (MDLZ): revenue $39.7B, market value $79.0B
• Conagra Brands Inc. (CAG): revenue $11.2B, market value $6.6B
• Campbell's Co. (CPB): revenue $9.7B, market value $6.1B
• Flowers Foods Inc. (FLO): revenue $5.2B, market value $1.3B
• Simply Good Foods Co. (SMPL): revenue $1.4B, market value $960.6M

What the company does

Beyond Meat, Inc. sells plant-based meat products built around three core platforms: beef, pork and poultry. The company calls itself a leading plant-based meat company and uses the brand promise "Eat What You Love". It was incorporated in Delaware on 8 April 2011, and its common stock is listed on the Nasdaq Global Select Market under the symbol BYND. It reports one operating segment and had 589 full-time employees and 50 contract workers as of 31 December 2025.

What it sells

Its protein comes primarily from yellow pea, brown rice, faba bean and red lentil. The pork platform covers Beyond Sausage, Beyond Breakfast Sausage Patties, Beyond Breakfast Sausage Links and Beyond Sausage Crumbles. The poultry platform covers Beyond Chicken Pieces, Beyond Chicken Tenders and Beyond Chicken Nuggets, with protein from pea, soy and wheat gluten.

Beyond Burger IV, Beyond Beef IV and Beyond Sausage IV are made with avocado oil and carry 0 mg of cholesterol. Beyond Sun Sausage is a separate protein option that does not replicate beef, pork or poultry. The company also sells ready-to-heat meals under the value-added meals line, including Beyond Bakes, Beyond Skillet Meals and Beyond Bowls. Beyond Ground and Beyond Steak Filet were launched in 2025. In early 2026 the company introduced Beyond Immerse, a protein drink sold through its Beyond Test Kitchen direct-to-consumer site.

Who buys from it

Beyond Meat branded products are sold through mainstream grocery, mass merchandiser, club store and natural retailer channels. They are also sold through restaurants, foodservice outlets and schools. Revenue comes mainly from the United States, the EU and Canada. The company reports it by four channels: United States retail, United States foodservice, international retail and international foodservice.

Most sales go through distributors that buy, store and deliver the products. The company does not treat these distributors as direct customers. It also sells directly to retail and foodservice customers that handle their own distribution. DOT Foods, Inc. accounted for approximately 13% of gross revenues in 2025, and no other distributor or customer exceeded 10%. The sales team has four divisions: retail, foodservice, international and strategic partnerships. Demand is generally greater in the United States summer grilling season.

How it makes its products

A dry blend containing plant protein is combined at the company's manufacturing facilities. It then enters an extruder, where water and steam are added. Heating, cooling and pressure changes weave the proteins into a structure that mimics the texture and muscle structure of animal meat. This woven protein is the base of all its meat products. The company then adds flavors and other ingredients, either internally or through co-manufacturers. The majority of its products are transported and stored frozen. Third party logistics providers move them to cold storage or directly to customers.

Pea protein is the main ingredient in many products. It comes from peas grown in Canada and France, with most of the volume from Canada. The company is substantially dependent on one supplier, Roquette Frères. A new sales agreement with an initial two-year term expiring on 31 December 2027 followed the expiry of the earlier agreement on 31 December 2025.

How it innovates and competes

The team includes scientists, engineers, researchers, technicians and chefs. At 31 December 2025 the company held four issued patents in the United States and thirteen outside it, plus one pending United States patent application and three pending international applications.

The company names conventional animal-protein companies as competitors, including Cargill, Hormel Foods, JBS, Perdue Foods and Tyson Foods. It also names plant-based brands such as Impossible Foods, Gardein (Conagra) and Boca Foods (Kraft Heinz). Mycelium-based products from Quorn, Meati and Nature's Fynd and lab-grown meat from GOOD Meat, Aleph Cuts and Wildtype also compete with it. The company says it believes it competes effectively on each factor. It also says many competitors have greater financial resources, broader product lines and longer operating histories.

Rules it works under

In the United States the FDA and the FTC govern manufacturing, labeling and advertising. Health Canada, the Canadian Food Inspection Agency and EU authorities do so abroad. Missouri passed a law in 2018 on describing foods as meat, and Arkansas, Georgia, Texas and others have passed similar laws. Several of these laws face legal challenges.

The Court of Justice of the European Union ruled on 4 October 2024 that the French ban on meat names for plant-based foods was unlawful under EU law. In July 2025 the European Commission published a proposal to restrict meat terms to animal products. The filing reports that EU institutions reached a provisional agreement on 5 March 2026 to reserve approximately 31 terms, including "meat", "chicken", "steak" and "bacon".

Its people

None of the employees are represented by a labor union, and the company reports no labor-related work stoppage. Its operations in the Netherlands are subject to the Netherlands Works Council Act. The company suspended its operational activities in China, which ceased at the end of 2025. It reduced its China workforce by approximately 20 employees, about 95% of that workforce.

*From Beyond Meat's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1655210/000165521026000022/bynd-20251231.htm)*

From the company's 10-K.