Beyond Meat, Inc.
1.8450-0.13 (-6.58%)
Oct 29, 4:00:02 PM EDT · NasdaqGS · BYND · USD
Key Stats
Market Cap
733.59MP/E (TTM)
-Basic EPS (TTM)
-2.14Dividend Yield
0%Recent Filings
8-K
Exchange offer and arbitration update
Beyond Meat launched an exchange offer on September 29, 2025, swapping up to $202.5 million of its 0% Convertible Senior Notes due 2027 for new 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 and 326,190,370 common shares, risking substantial shareholder dilution and limits on tax carryforwards from ownership changes. Separately, an arbitrator's September 15 interim award validated the company's November 2023 termination of a co-manufacturer agreement over compliance failures, though the manufacturer seeks $73.0 million in damages and requests to reopen hearings. This bolsters Beyond Meat's defense but leaves final resolution pending.
8-K
Loan drawdown and arbitration win
Beyond Meat drew down the final $60 million tranche of its $100 million delayed-draw term loan from Unprocessed Foods on September 18, 2025, bringing total borrowings to $100 million at 12% interest, maturing February 7, 2030, for general corporate purposes. In tandem, it issued warrants to the lender for 5.7 million shares at $3.26 exercise price. Meanwhile, an arbitrator's interim award on September 15 validated the company's 2023 termination of a co-manufacturer contract, rejecting the manufacturer's $73 million claim—yet a final award pends.
10-Q
Q2 FY2025 results
Beyond Meat's Q2 revenue fell 19.6% y/y to $75.0M, with U.S. retail down 26.7% y/y on weak demand and lost distribution, while foodservice edged up 6.8% y/y from better pricing. Gross margin slipped to 11.5% from 14.7% y/y, pressured by higher inventory provisions and China exit costs, yet operating loss narrowed to $34.9M from $33.9M y/y as SG&A dropped 10.6% y/y on cuts. Cash dipped to $103.5M after drawing $40M from a new $100M term loan facility at 12% (maturing 2030), with $60M undrawn; no FCF as operating cash used $59.4M YTD. Diluted EPS of -$0.38 aligns with 76.5M shares and net loss of $29.2M, no anti-dilution flagged. The $40M draw funds general purposes amid Global Operations Review, including China suspension. Yet competition erodes category share.
8-K
Beyond Meat's Q2 cuts
Beyond Meat reported Q2 2025 net revenues of $75.0 million, down 19.6% year-over-year, with gross margin slipping to 11.5% amid weak U.S. retail demand and China operations suspension. The company approved a 6% global workforce cut of 44 North American employees, expecting $5.0-$6.0 million in annual cash savings but $0.8-$1.3 million in Q3 severance charges. It appointed restructuring expert John Boken as interim Chief Transformation Officer via AlixPartners to drive cost controls and target EBITDA positivity by Q4 2026. Transformation demands focus.
8-K
Beyond Meat subleases space to Varda
Beyond Meat inked a sublease on July 22, 2025, handing over 54,749 square feet at its El Segundo HQ to Varda Space Industries, split between 16,967 improved and 37,782 unimproved spaces, running through October 31, 2033, pending landlord consent. Varda pays $50,901 monthly for improved space and $113,346 for unimproved initially, with 3% annual hikes and half-rent abatement in months 2-15, plus a $1.56M letter of credit. This frees up space while generating steady income. Deal hinges on consent.
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