Beyond Meat: Reports Second Quarter 2021 Financial Results

El Segundo / CA. (bmi) Beyond Meat Inc., a leader in plant-based meat, reported financial results for its second quarter ended July 03, 2021. Financial highlights:

  • Net revenues were USD 149.4 million, an increase of 31.8 percent year-over-year.
  • Gross profit was USD 47.4 million, or gross margin of 31.7 percent of net revenues.
  • Net loss was USD 19.7 million or USD 0.31 per common share. Net loss as a percentage of net revenues was -13.2 percent.
  • Adjusted Ebitda was a loss of USD 2.2 million, or -1.5 percent of net revenues.

President and CEO Ethan Brown: «We are pleased to report record net revenues and the return to growth in foodservice as our customers welcomed consumers back to their venues. We are also proud of our retail performance, where we drove year-over-year growth despite cycling last year’s demand surge driven by consumer panic-buying.»

Brown added, «We continue to make substantial investments in our long-term growth here in the U.S. and abroad, maintaining our focus on building innovation, production, and team capabilities for the future. We are thrilled with the response to our new Beyond Chicken product and the continued accolades we are receiving for our latest iteration of the Beyond Burger. Coupled with the week-over-week progress we are seeing with our production capabilities in the EU and China, and our continued advancement of our overall cost-down program, I’m optimistic about what lies ahead. That said, given the recent uptick of Covid-19 cases, which could disrupt demand patterns, we believe caution for the balance of the year generally remains appropriate.»

For additional information please read the Company’s PDF file below (98 KB):

20210805-BEYOND-MEAT-Q2-2021
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