EL SEGUNDO, California, May 7, 2026, 07:03 (PDT)
Beyond Meat shares slid roughly 14% Thursday morning after the company’s second-quarter revenue outlook came up short of analyst expectations. The plant-based meat maker told investors it sees sales in the $60 million to $65 million range for the quarter, versus the $67 million analysts had penciled in, according to LSEG data cited by Reuters. Shares of BYND were recently trading just below $0.89.
The forecast arrives as sales continue sliding. Beyond has started calling itself “Beyond The Plant Protein Company,” shifting focus away from just burgers, chicken, and other meat substitutes. Still, appetite for its main products remains weak. First-quarter revenue fell 15.3% to $58.2 million, with product volume shrinking 19.5%, the company reported. Beyond Meat, Inc.
Costs pulled back. Gross margin swung into the black at 3.4%, after sitting at negative 10.1% a year prior. Net loss landed at $28.5 million—far less than the $61.1 million loss in the previous year. Adjusted EBITDA stayed negative, with a $27.8 million loss, up from a $50.5 million shortfall.
Chief Executive Ethan Brown called it a “decisive broadening” into the world of functional food and beverages—a nod to products marketed with added nutrition benefits. He pointed out the “lowest quarterly cash use in over two years,” a figure that might catch investors’ eye. But revenue remains the headline issue. SEC
Weakness cropped up across the board. U.S. retail sales dropped 15.3%. Foodservice in the U.S. slid even further, down 29.7%, while international foodservice sales decreased 25.9%. Both segments struggled with softer demand for burgers and chicken from fast-food buyers. But international retail posted an 8.1% increase, supported by stronger demand in Europe and firmer prices.
Pressure remains on the balance sheet. As of quarter’s end, Beyond reported $205.8 million in cash and restricted cash, while debt’s carrying value reached $411.6 million, per the filing. After the close of the quarter, $62.6 million worth of 2030 notes converted to common stock, resulting in more than 52 million new shares issued.
Beyond is rolling out Beyond Immerse, a plant-protein drink with 20 grams of protein, 7 grams of fiber, and 100 calories in each flavor. Thanks to a new distribution pact with Big Geyser, the beverage will appear across more than 26,000 locations in the New York metro area. “Unlike anything else in our portfolio,” Big Geyser President and COO Jerry Reda remarked. Beyond Meat, Inc.
That move pushes Beyond deeper into the wider plant-based protein market, expanding its competition beyond just Impossible Foods in the alt-meat section. In March, AP reported on Eat Just launching a mung-bean protein powder, Impossible collaborating on high-protein breads and pastas, and Silk coming out with a new protein drink—all of them answering the rising consumer appetite for protein.
Wall Street hasn’t budged. Barclays reiterated its Underweight stance on Beyond Meat, left the $0.50 target unchanged, and cited stubborn operational losses and weak appetite for plant-based meat, according to reports. The Underweight call suggests Beyond Meat shares could lag rivals and the broader market.
That risk is hard to miss: the company’s new beverage lineup could take too long to gain traction, leaving the shrinking core business exposed. In its own filing, Beyond spelled out a host of hazards—a potential drop in demand, the chance a rebrand only adds confusion, consumer rejection of new launches, tighter debt pressure, and restricted equity funding now that it no longer meets requirements for its at-the-market share-sale program.
Brown told analysts there’s still “considerable ground left to cover” when it comes to profits. On the topic of moving into related categories, he was blunt: “We’re not waiting around.” Investing.com
