Bitcoin price today: surges to $122k, near record high on US regulatory cheer
EL SEGUNDO, Calif. - Beyond Meat, Inc. (NASDAQ:BYND) reported fourth quarter results that showed revenue growth but a wider loss than analysts expected, sending shares down 5.3% in after-hours trading Wednesday.
The plant-based meat company posted a net loss of $44.9 million, or $0.65 per share, in the fourth quarter, compared to a loss of $155.1 million, or $2.40 per share, in the same period last year. Analysts had forecast a smaller loss of $0.44 per share.
Revenue rose 4% year-over-year to $76.7 million, slightly beating estimates of $76 million. The increase was driven by a 6.3% rise in net revenue per pound, partially offset by a 2.1% decrease in volume sold.
"2024 was a pivotal year for Beyond Meat. We returned to year-over-year net revenue growth in the second half, meaningfully expanded gross margin compared to the prior year, sharply reduced operating expenses, and delivered a significant year-over-year improvement in Adjusted EBITDA," said Beyond Meat President and CEO Ethan Brown.
Gross profit improved to $10 million, or 13.1% of net revenues, compared to a loss of $83.9 million in Q4 2023. The company cited lower manufacturing costs and materials costs as factors behind the margin expansion.
For the full year 2025, Beyond Meat expects revenue of $320-$335 million and gross margin of approximately 20%. The company also announced further cost-cutting measures, including a 17% reduction in its non-production workforce.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.