MW Beyond Meat's losses widen as demand shrinks. Is its meme-stock run over?

By James Rogers

Beyond Meat is wrestling with diminished appeal of its meat-substitute products

Meat-substitute company Beyond Meat called for lower-than-expected current-quarter sales on Monday, and third-quarter sales also slipped.

Shares of Beyond Meat Inc. fell more than 8% in extended trading Monday after the company warned of weaker sales in the current quarter, following wider losses and sales that slipped in the third quarter amid dwindling demand for its meat-substitute products.

For the quarter ending Sept. 27, Beyond Meat's (BYND) revenue fell 13.3% year over year to $70.2 million, but still topped the FactSet consensus estimate of $69 million.

For the fourth quarter, Beyond Meat expects net revenues between $60 million and $65 million, well below the FactSet consensus estimate of $70.1 million.

Third-quarter revenue took a hit from a 10.3% drop in volume of products sold. This was driven by weak category demand, reduced points of distribution in U.S. retail stores and lower sales of burger products to some international restaurant customers, Beyond Meat said.

Beyond Meat's revenue was also impacted by a 3.5% decline in net revenue per pound, driven by higher trade discounts, changes in product sales mix and price cuts.

Shares of the El Segundo, Calif.-based company fell more than 8% in after-hours trading as investors digested Beyond Meat's ongoing struggles.

Beyond Meat, which went public in 2019, emerged as something of a pre-pandemic darling as excitement swirled around meat substitutes, but it has wrestled with declining sales and stiff competition. Beyond Meat last reported a quarterly profit in May 2020, and has yet to turn an annual profit.

The company's third-quarter net loss widened to $110.7 million, or $1.44 a share, after a net loss of $26.6 million, or a loss of 41 cents a share in the same period last year. Analysts surveyed by FactSet were looking for a loss of 40 cents a share.

The earnings results were originally scheduled for Nov. 4, but were pushed back to Nov. 11, with the company saying that it needed more time to quantify an impairment charge. Then on Friday, Beyond Meat said that it would report its results Monday and host its conference call to discuss the results after market close on Tuesday.

During the third quarter, Beyond Meat's loss from operations was $112.3 million, which included $77.4 million in non-cash impairment charges related to certain long-lived assets, the company said. The loss from operations was $30.9 million in the same period last year.

Beyond Meat has had an eventful few months, marked by blistering retail-fueled rallies that saw its shares skyrocket in a meme-stock frenzy that also lifted the likes of Krispy Kreme Inc. (DNUT), GoPro Inc. $(GPRO)$, Kohl's Corp. $(KSS)$ and Opendoor Technologies Inc. (OPEN), even sparking comparisons with the 2021 frenzy that sent shares of GameStop Corp. $(GME)$ and AMC Entertainment Holdings Inc. $(AMC)$ soaring. However, Beyond Meat shares closed at $1.34 on Monday, well below their recent meme-stock peak of $3.62 on Oct. 21.

In a statement, Beyond Meat Chief Executive Ethan Brown said that the company has achieved "three important building blocks" for its broader transformation efforts. "These are significantly reducing our overall leverage in connection with the previously announced exchange of substantially all of our 2027 convertible notes; meaningfully extending our debt maturity; and finally, adding substantial liquidity to our balance sheet," he said.

As of Sept. 27, the company's cash was $131.1 million and its total outstanding debt was $1.2 billion.

-James Rogers

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November 10, 2025 19:12 ET (00:12 GMT)

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