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Beyond meat1/28/2024 ![]() ![]() For the full year, we grew total net revenues 37%, with sales to retail customers more than doubling versus the prior year."īrown added, "Although weakened foodservice demand resulting from the global pandemic has impacted our near-term profitability, we continue to press forward with strategic investments in service of our future growth, including the build out of our production facilities in China and Europe, bolstering our research and development capabilities, amplifying our marketing voice, upgrading our IT infrastructure, and, importantly, continuing to build out talented teams across the globe to bring our ambitious goals to fruition. Refer to “Non-GAAP Financial Measures” later in this release for the definitions of the non-GAAP financial measures presented and a reconciliation of these measures to their closest comparable GAAP measures.īeyond Meat President and CEO Ethan Brown commented, "I am proud of our 2020 achievements in light of the significant challenges we faced, primarily in our foodservice channel, as a result of the COVID-19 pandemic. Adjusted EBITDA was $11.8 million, or 2.9% of net revenues.ġ This release includes references to non-GAAP financial measures.Net loss was $52.8 million, or $0.85 per common share Adjusted net loss was $37.1 million, or $0.60 per common share, reflecting exclusion of expenses attributable to COVID-19.Gross profit was $122.3 million, or gross margin of 30.1% of net revenues Adjusted gross profit was $133.7 million, or Adjusted gross margin of 32.9% of net revenues, reflecting exclusion of expenses attributable to COVID-19.Net revenues were $406.8 million, an increase of 36.6% year-over-year.Adjusted EBITDA was a loss of $9.5 million, or -9.3% of net revenues.Net loss was $25.1 million, or $0.40 per common share Adjusted net loss was $21.4 million, or $0.34 per common share, reflecting exclusion of expenses attributable to COVID-19.Gross profit was $25.4 million, or gross margin of 24.9% of net revenues Adjusted gross profit was $29.1 million, or Adjusted gross margin of 28.5% of net revenues, reflecting exclusion of expenses attributable to COVID-19.Net revenues were $101.9 million, an increase of 3.5% year-over-year.(NASDAQ: BYND) (“Beyond Meat” or “the Company”), a leader in plant-based meat, today reported financial results for its fourth quarter and full year ended December 31, 2020.įourth Quarter 2020 Financial Highlights 1 25, 2021 (GLOBE NEWSWIRE) - Beyond Meat, Inc. PDF Version Strong Retail Channel Net Revenues up 85% Year-Over-Year, Offset by Continued Impact of COVID-19 on Foodservice Channel Net Revenues, down 54% Year-Over-YearĮL SEGUNDO, Calif., Feb.
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