Beyond Meat Q1 revenue falls 15.7% to $92.2M; net loss $59M, adj EBITDA loss $45.8M

BEYOND MEAT, INC.

2023-Q1 EPS reported -$0.92 revenue$92,236,000

Net revenues $92.2M, down 15.7% YoY; gross margin improved to 6.7% from 0.2%.
Net loss $59.0M ($0.92/share) vs $100.5M ($1.58) in Q1 2022; loss narrowed.
Adjusted EBITDA loss $45.8M (-49.6% of revenue) vs -$78.9M (-72.1%) YoY.
Gross profit aided by $5.1M lower depreciation from change in equipment useful life estimate.
CEO says strategy to achieve cash-flow positive operations and sustainable growth is showing progress.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BEYOND MEAT, INC. reported first quarter ended April 1, 2023 results: revenue $92.2 million, net income $59.0 million, or $0.92 per common share, EPS $0.92 per common share.

Period: first quarter ended April 1, 2023
Revenue: $92.2 million
Net income: $59.0 million, or $0.92 per common share
EPS: $0.92 per common share
Result: reported results

Exact text from the filing

Net revenues were $92.2 million, a decrease of 15.7% year-over-year.

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BEYOND MEAT, INC. filing history →

Source: SEC EDGAR

accession 0001655210-23-000091

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