Revenue growth remains in a state of structural decline, with the most recent quarter showing a 15.3% contraction and gross margins compressing to a precarious 3.4%.
| Sales/Revenue | 264.97M | 275.5M | 326.45M | 343.38M | 418.93M | 464.7M | 406.79M | 297.9M | 87.93M | 32.58M | 16.18M |
| Revenue Growth % | -17.09% | -15.61% | -4.93% | -18.04% | -9.85% | 14.24% | 36.55% | 238.77% | 169.89% | 101.34% | - |
| Cost of Goods Sold | 255.78M | 267.85M | 284.75M | 354.73M | 442.68M | 347.42M | 284.51M | 198.14M | 70.36M | 34.77M | 22.49M |
| COGS % of Revenue | - | 97.22% | 87.23% | 103.31% | 105.67% | 74.76% | 69.94% | 66.51% | 80.01% | 106.72% | 139.01% |
| Gross Profit | 9.2M | 7.65M | 41.7M | -11.35M | -23.74M | 117.28M | 122.28M | 99.76M | 17.57M | -2.19M | -6.31M |
| Gross Margin % | 3.47% | 2.78% | 12.77% | -3.31% | -5.67% | 25.24% | 30.06% | 33.49% | 19.99% | -6.72% | -39.01% |
| Gross Profit Growth % | - | -81.66% | 467.39% | 52.2% | -120.24% | -4.08% | 22.57% | 467.63% | 902.1% | 65.29% | - |
| Operating Expenses | 227.45M | 240.99M | 197.82M | 330.55M | 319.03M | 292.21M | 171.62M | 100.25M | 44.05M | 22.86M | 18.45M |
| OpEx % of Revenue | - | 87.48% | 60.6% | 96.26% | 76.15% | 62.88% | 42.19% | 33.65% | 50.09% | 70.18% | 114.04% |
| Selling, General & Admin | 255.63M | 217.76M | 171.82M | 212.41M | 239.5M | 209.47M | 133.66M | 74.73M | 34.46M | 17.14M | 12.67M |
| SG&A % of Revenue | - | 79.04% | 52.63% | 61.86% | 57.17% | 45.08% | 32.86% | 25.08% | 39.19% | 52.62% | 78.31% |
| Research & Development | 20.99M | 23.23M | 28.15M | 39.53M | 62.26M | 66.95M | 31.54M | 20.65M | 9.59M | 5.72M | 5.78M |
| R&D % of Revenue | - | 8.43% | 8.62% | 11.51% | 14.86% | 14.41% | 7.75% | 6.93% | 10.9% | 17.56% | 35.73% |
| Other Operating Expenses | 0 | 0 | -2.15M | 78.61M | 17.26M | 15.79M | 6.43M | 4.87M | 0 | 0 | 0 |
| Operating Income | -218.25M | -233.35M | -156.12M | -341.9M | -342.77M | -174.93M | -49.34M | -489K | -27.99M | -28.57M | -24.77M |
| Operating Margin % | -82.37% | -84.7% | -47.82% | -99.57% | -81.82% | -37.64% | -12.13% | -0.16% | -31.83% | -87.67% | -153.05% |
| Operating Income Growth % | - | -49.46% | 54.34% | 0.25% | -95.94% | -254.51% | -9991% | 98.25% | 2.02% | -15.34% | - |
| EBITDA | -186.62M | -200.57M | -133M | -293.8M | -310.19M | -153.27M | -36.05M | 7.62M | -23.07M | -25.38M | -22.69M |
| EBITDA Margin % | -70.43% | -72.8% | -40.74% | -85.56% | -74.04% | -32.98% | -8.86% | 2.56% | -26.23% | -77.91% | -140.23% |
| EBITDA Growth % | -37.95% | -50.8% | 54.73% | 5.28% | -102.38% | -325.21% | -573.23% | 133.02% | 9.12% | -11.86% | - |
| D&A (Non-Cash Add-back) | 31.63M | 32.77M | 23.12M | 48.09M | 32.58M | 21.66M | 13.3M | 8.11M | 4.92M | 3.18M | 2.07M |
| EBIT | -226.43M | 233.13M | -148.62M | -253.62M | -325.51M | -159.14M | -42.91M | 4.38M | -28.76M | -29.38M | -24.77M |
| Net Interest Income | -16.24M | -10.53M | -4.1M | -3.96M | -3.97M | -3.65M | -2.58M | -3.07M | -1.13M | -1M | -380K |
| Interest Income | 3.5M | 3.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 19.74M | 14.03M | 4.1M | 3.96M | 3.97M | 3.65M | 2.58M | 3.07M | 1.13M | 1M | 380K |
| Other Income/Expense | 462.6M | 453.26M | -4.13M | 3.76M | -23.33M | -7.11M | -3.33M | -11.95M | -1.9M | -1.81M | -380K |
| Pretax Income | 244.42M | 219.99M | -160.25M | -338.14M | -366.11M | -182.04M | -52.68M | -12.43M | -29.89M | -30.38M | -25.15M |
| Pretax Margin % | 92.24% | 79.85% | -49.09% | -98.47% | -87.39% | -39.17% | -12.95% | -4.17% | -33.99% | -93.24% | -155.39% |
| Income Tax | 78K | 78K | 26K | 5K | 32K | 60K | 72K | 9K | 1K | 5K | 3K |
| Effective Tax Rate % | 0.03% | 0.04% | -0.02% | -0% | -0.01% | -0.03% | -0.14% | -0.07% | -0% | -0.02% | -0.01% |
| Net Income | 244.34M | 219.91M | -160.28M | -338.14M | -366.14M | -182.1M | -52.75M | -12.44M | -29.89M | -30.38M | -25.15M |
| Net Margin % | 92.22% | 79.82% | -49.1% | -98.48% | -87.4% | -39.19% | -12.97% | -4.18% | -33.99% | -93.26% | -155.41% |
| Net Income Growth % | 253.84% | 237.21% | 52.6% | 7.65% | -101.06% | -245.21% | -323.95% | 58.37% | 1.64% | -20.82% | - |
| Net Income (Continuing) | 244.34M | 219.91M | -160.28M | -338.14M | -366.14M | -182.1M | -52.75M | -12.44M | -29.89M | -30.38M | -25.15M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.54 | -1.83 | -2.43 | -5.26 | -5.46 | -2.84 | -0.85 | -0.29 | -0.64 | -0.66 | -0.54 |
| EPS Growth % | 2.52% | 24.69% | 53.8% | 3.66% | -92.25% | -234.12% | -193.1% | 54.69% | 3.03% | -22.22% | - |
| EPS (Basic) | - | 1.15 | -2.43 | -5.26 | -5.46 | -2.84 | -0.85 | -0.29 | -0.64 | -0.66 | -0.54 |
| Diluted Shares Outstanding | 455.27M | 181.32M | 66M | 64.3M | 63.62M | 63.17M | 62.29M | 42.27M | 46.36M | 46.36M | 46.36M |
| Basic Shares Outstanding | 455.27M | 155.27M | 66M | 64.3M | 63.62M | 63.17M | 62.29M | 42.27M | 46.36M | 46.36M | 46.36M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - |
Structural revenue and margin decay
As reported in recent financial filings, Beyond Meat's revenue has experienced a sustained decline, with a 15.61% year-over-year contraction in the most recent quarter, signaling that the company is struggling to maintain its market position as the initial consumer novelty of plant-based meat products continues to fade.
The consistent negative growth trajectory suggests that the company has failed to transition from an early-adopter niche to a mass-market staple. Investors should monitor whether this decline reflects a permanent reduction in the addressable market or merely a temporary loss of shelf space to more aggressive competitors.
Based on the company's latest income statement, gross margins have plummeted to a precarious 2.78%, indicating that Beyond Meat is currently unable to generate sufficient pricing power to cover its direct production costs, a trend that appears to be worsening as the firm prioritizes inventory clearance.
This thin margin profile suggests that the company's reliance on high-cost co-manufacturing and raw material inputs is unsustainable. The inability to achieve meaningful gross profitability implies that the current business model may lack the necessary scale or operational efficiency to compete effectively against legacy food processors.
According to historical income statement data, there is a significant and concerning divergence between operating and net margins, highlighted by a 79.82% net margin in previous periods that appears disconnected from the company's core operating losses, suggesting reliance on non-recurring items rather than operational performance.
The presence of large, non-operating gains masks the underlying cash burn and operational weakness of the business. Analysts should exercise caution when evaluating headline profitability, as these accounting anomalies do not appear to reflect a sustainable improvement in the company's fundamental ability to generate earnings.
While management emphasizes brand recognition, the company's income statement performance suggests that Beyond Meat is increasingly functioning as a capital-intensive commodity processor, with recent figures indicating that the firm's proprietary technology may no longer provide a sufficient moat against lower-cost private label and legacy meat entrants.
The short-seller narrative focuses on the potential for a terminal decline in demand as the product category faces an 'uncanny valley' of consumer acceptance. If the company cannot achieve price parity without further eroding its already razor-thin margins, the risk of continued capital depletion remains high.
Quick answers to the most common questions about buying BYND stock.
For fiscal year 2025, Beyond Meat, Inc. (BYND) reported total revenue of $275.5M. This represents a 1602.5% increase compared to $16.2M in 2016.
Beyond Meat, Inc. (BYND) is profitable, generating $219.9M in net income for the fiscal year ending 2025 with a net profit margin of 79.8%.
Beyond Meat, Inc. (BYND) reported an operating income of $-233.3M, resulting in an operating profit margin of -84.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Beyond Meat, Inc. (BYND) generated $7.6M in gross profit for the year, representing a gross profit margin of 2.8%. This demonstrates the company's core pricing power and production efficiency.