Beyond Meat reported a challenging Q1 2025, with revenue of USD 68.731 million, down 9.1% year-over-year and 10.3% quarter-over-quarter. The company posted a gross loss of USD 1.065 million and a gross margin of -1.55%, contributing to an operating loss of USD 56.199 million and an EBITDA loss of USD 44.465 million. Net income totaled -USD 52.916 million, translating to an EPS of -0.69. Cash flow remained negative on an ongoing basis, with net cash provided by operating activities of -USD 26.146 million and free cash flow of -USD 30.631 million. The cash balance stood at USD 115.826 million at period end, while debt pressures persisted: long-term debt of USD 1.218 billion and net debt of USD 1.119 billion, yielding a balance sheet with total liabilities of USD 1.294 billion against total assets of USD 0.644 billion and negative equity of USD -0.650 billion. The quarter underscores a persistent burn and an urgent focus on cost optimization and margin normalization to sustain liquidity and debt servicing.
Notes on transcript data: The provided dataset contains an empty earnings transcript, so management commentary from an earnings call is not available for direct quotes or theme analysis. Given this, the analysis relies on the disclosed financials to frame the investment thesis and identify risks and opportunities.
Key Performance Indicators
Revenue
Decreasing
68.73M
QoQ: -10.34% | YoY: -9.09%
Gross Profit
Decreasing
-1.07M
-1.55% margin
QoQ: -110.64% | YoY: -129.03%
Operating Income
Decreasing
-56.20M
QoQ: -48.64% | YoY: -5.10%
Net Income
Increasing
-52.92M
QoQ: -17.95% | YoY: 2.66%
EPS
Increasing
-0.69
QoQ: -6.15% | YoY: 17.86%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: USD 68.731 million (YoY -9.09%, QoQ -10.34%)
Gross Profit: USD -1.065 million; Gross Margin: -1.55%
EBITDA: USD -44.465 million; EBITDA Margin: -64.69%
Operating Income: USD -56.199 million; Op. Margin: -81.77%
Net Income: USD -52.916 million; Net Margin: -77.10%
EPS: -0.69
Weighted Avg Shares: 76.195 million
Cash Flow: CFO -USD 26.146 million; Capex -USD 4.485 million; Free Cash Flow -USD 30.631 million
Cash and Equivalents: USD 102.143 million; Cash End of Period: USD 115.826 million
Balance Sheet: Total Assets USD 643.830 million; Total Liabilities USD 1,293.361 million; Stockholders’ Equity USD -649.531 million
Debt: Long-Term Debt USD 1,217.460 million; Net Debt USD 1,119.258 million
Liquidity/Coverage: Current ratio 3.39; Quick ratio 2.07; Cash Ratio 1.346; Interest Coverage negative (approx. -54.88x)
Valuation/Leverage: Price-to-Sales 3.48; Enterprise Value Multiple -30.55; Price-to-Book -0.417
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
68.73M
-9.09%
-10.34%
Gross Profit
-1.07M
-129.03%
-110.64%
Operating Income
-56.20M
-5.10%
-48.64%
Net Income
-52.92M
2.66%
-17.95%
EPS
-0.69
17.86%
-6.15%
Key Financial Ratios
Gross Profit Margin
Weak
-0.02%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Weak
-0.82%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-0.77%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
-0.08%
Return on assets suggests inefficient capital allocation
Return on Equity
Fair
9.22%
Return on equity is acceptable but below top-tier companies
Current Ratio
Strong
3.39
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
-2.13
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Negative
-1.13x
Negative earnings make P/E ratio not meaningful
Price to Book
Undervalued
-0.42x
Trading below book value, potential value opportunity or distressed
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