A bottom-line beat in its latest quarter made Oatly Group (OTLY -4.01%) stock quite tasty for investors this week. Thanks in no small part to the oat milk specialist's performance in its first quarter, the company's stock raced to a gain of almost 16% across the period, according to data compiled by S&P Global Market Intelligence.

A good start to the financial year

That quarter, which was reported on Wednesday, saw Oatly earn $197.5 million in revenue. That was down, although not alarmingly so, from the slightly over $199 million it posted in the same period of 2024.

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The dynamic on the bottom line was notably more encouraging, as the company managed to narrow its net loss significantly. Its shortfall was $12.5 million, amounting to $0.03 per share, compared to the nearly $46 million deficit of the first quarter of 2024.

On average, analysts following Oatly's fortunes were anticipating the company would boast a fatter revenue figure, but skinnier profitability. They were modeling $202.5 million on the top line, but $0.05 per share for net loss.

In the earnings release, Oatly attributed the notably better bottom-line performance to factors such as cost efficiency measures. It also quoted CEO Jean-Christophe Flatin as saying the company aims to make 2025 "our first full year of profitable growth as a public company."

Growth in the bottle?

Oatly reiterated its guidance for the entirety of this year, anticipating constant-currency revenue growth from 2% to 4% over the 2024 tally; non-GAAP (generally accepted accounting principles) adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $5 million to $15 million; and capital expenditures ranging from $30 million to $35 million. It did not provide any profitability forecasts.

While Oatly is unique among comestibles stock, I don't personally find it compelling, as I don't think oat milk will move from niche favorite to widespread staple. Additionally, neither the company's trailing nor anticipated performance indicate it will be a standout as a business.