Quarterly Context: Beyond Meat reported Q4 2024 revenue of $76.66 million, up 4.04% year over year but down 5.37% versus the prior quarter, signaling ongoing demand softness in a competitive plant-based protein landscape. Gross profit totaled $10.01 million with a gross margin of 13.05%, a substantial YoY improvement but a QoQ deterioration that underscores cost pressures and channel mix effects. The company recorded an operating loss of $37.81 million and a net loss of $44.86 million, with basic/diluted EPS of -$0.65. EBITDA stood at -$38.17 million, and the EBITDA margin was approximately -50%. Free cash flow remained negative at -$35.43 million, while operating cash flow was -$28.95 million, highlighting a persistent cash burn from core operations.
Key Performance Indicators
Revenue
Increasing
76.66M
QoQ: -5.37% | YoY: 4.04%
Gross Profit
Increasing
10.01M
13.05% margin
QoQ: -30.07% | YoY: 111.93%
Operating Income
Increasing
-37.81M
QoQ: -22.33% | YoY: 76.49%
Net Income
Increasing
-44.86M
QoQ: -68.81% | YoY: 71.08%
EPS
Increasing
-0.65
QoQ: -58.54% | YoY: 72.92%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $76.658 million; YoY +4.04%; QoQ -5.37%; Gross Profit: $10.006 million; Gross Margin: 13.05%; YoY Gross Margin +111.93%; QoQ -30.07%; Operating Income: -$37.81 million; Operating Margin: -49.32%; YoY Operating Margin improvement +76.49%; QoQ -22.33%; Net Income: -$44.862 million; Net Margin: -58.52%; YoY Net Margin +71.08%; QoQ -68.81%; EPS: -$0.65; YoY +72.92%; QoQ -58.54%; EBITDA: -$38.168 million; EBITDA Margin: approx. -49.8%; Cash Flow: Operating cash flow -$28.95 million; Free cash Flow -$35.43 million; Balance Sheet: Cash & equivalents ~ $131.9 million on balance sheet; Cash at period end ~$145.6 million; Total debt $1.222 billion; Net debt $1.091 billion; Total assets $678.146 million; Total liabilities $1.279 billion; Stockholders’ equity -$601.208 million. Liquidity indicators show a current ratio around 4.66 and a quick ratio around 2.82, but the balance sheet remains heavily levered with negative equity.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
76.66M
4.04%
-5.37%
Gross Profit
10.01M
111.93%
-30.07%
Operating Income
-37.81M
76.49%
-22.33%
Net Income
-44.86M
71.08%
-68.81%
EPS
-0.65
72.92%
-58.54%
Key Financial Ratios
Gross Profit Margin
Weak
13.10%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Weak
-0.49%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-0.59%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
-0.07%
Return on assets suggests inefficient capital allocation
Return on Equity
Fair
7.46%
Return on equity is acceptable but below top-tier companies
Current Ratio
Strong
4.66
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
-2.03
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Negative
-1.38x
Negative earnings make P/E ratio not meaningful
Price to Book
Undervalued
-0.41x
Trading below book value, potential value opportunity or distressed
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