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Beyond Meat (BYND)

Beyond Meat, Inc. is one of the fastest growing food companies in the United States, offering a portfolio of revolutionary plant-based meats made from simple ingredients without GMOs, bioengineered ingredients, hormones, antibiotics, or cholesterol. Founded in 2009, Beyond Meat products are designed to have the same taste and texture as animal-based meat while being better for people and the planet. Beyond Meat's brand commitment, Eat What You Love™, represents a strong belief that there is a better way to feed our future and that the positive choices we all make, no matter how small, can have a great impact on our personal health and the health of our planet. By shifting from animal-based meat to plant-based meat, the company can positively impact for growing global issues: human health, climate change, constraints on natural resources and animal welfare. As of December 31, 2020, Beyond Meat had products available at approximately 122,000 retail and foodservice outlets in over 80 countries worldwide.

Company profile

Ticker
BYND, 0A20
Exchange
Website
CEO
Ethan Brown
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Savage River, Inc.
SEC CIK
Subsidiaries
Beyond Meat EU B.V. • Beyond Meat (Jiaxing) Food Co., Ltd. • Beyond Meat Canada Inc. ...
IRS number
264087597

BYND stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

11 Aug 22
1 Oct 22
31 Dec 22
Quarter (USD) Jul 22 Apr 22 Dec 21 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 454.67M 454.67M 454.67M 454.67M 454.67M 454.67M
Cash burn (monthly) 31.06M 46.22M 29.89M 26.58M 23.49M 34.72M
Cash used (since last report) 92.91M 138.26M 89.42M 79.52M 70.27M 103.85M
Cash remaining 361.76M 316.41M 365.26M 375.16M 384.4M 350.82M
Runway (months of cash) 11.6 6.8 12.2 14.1 16.4 10.1

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Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Sep 22 Margaret J Trask Common Stock Payment of exercise Dispose F No No 15.25 156 2.38K 17,161
12 Sep 22 Dariush Ajami Common Stock Payment of exercise Dispose F No No 23.3 155 3.61K 106,886
12 Sep 22 Brown Ethan Common Stock Payment of exercise Dispose F No No 23.3 424 9.88K 270,251
12 Sep 22 Teri L Witteman Common Stock Payment of exercise Dispose F No No 23.3 77 1.79K 38,034
12 Sep 22 Beth Moskowitz Common Stock Payment of exercise Dispose F No No 23.3 54 1.26K 22,208
70.8% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 308 344 -10.5%
Opened positions 46 59 -22.0%
Closed positions 82 84 -2.4%
Increased positions 89 108 -17.6%
Reduced positions 77 89 -13.5%
13F shares Current Prev Q Change
Total value 1.16B 2.16B -46.3%
Total shares 45.1M 44.27M +1.9%
Total puts 19.12M 17.98M +6.3%
Total calls 9.19M 9.85M -6.6%
Total put/call ratio 2.1 1.8 +13.9%
Largest owners Shares Value Change
Baillie Gifford & Co 8.43M $201.78M -1.6%
Vanguard 5.56M $133.09M +10.2%
BLK Blackrock 4.1M $98.1M +71.5%
Susquehanna Securities 3.59M $0 0.0%
UDQ Private Trust 2.83M $184.69M 0.0%
STT State Street 1.42M $33.98M +64.5%
Ninety One UK 1.41M $33.86M +2.8%
GS Goldman Sachs 1.12M $26.77M +13.9%
SG Americas Securities 1.11M $26.56M +5.4%
Geode Capital Management 1.07M $25.68M +37.5%
Largest transactions Shares Bought/sold Change
Spyglass Capital Management 0 -1.79M EXIT
BLK Blackrock 4.1M +1.71M +71.5%
MS Morgan Stanley 925.36K -1.12M -54.7%
D. E. Shaw & Co. 970.54K +561.49K +137.3%
STT State Street 1.42M +556.48K +64.5%
Vanguard 5.56M +513.06K +10.2%
Keywise Capital Management 0 -432.48K EXIT
Clear Street 752.57K +407.87K +118.3%
First Trust Advisors 356.65K +356.65K NEW
Steadfast Capital Management 344.67K +344.67K NEW

Financial report summary

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Risks
  • The COVID-19 pandemic has had, and we expect will continue to have, a material adverse impact on our business, results of operations, financial condition and cash flows and may adversely impact the trading price of our common stock.
  • Our inability to streamline operations and improve cost efficiencies could result in the contraction of our business and the implementation of significant cost cutting measures.
  • We are undergoing a realignment of our organizational and reporting structure. There are no assurances that we will be able to successfully implement this change.
  • If we fail to effectively expand or optimize our manufacturing and production capacity, accurately forecast demand for our products or quickly respond to forecast changes, our business and operating results and our brand reputation could be harmed.
  • We may not be able to utilize our capacity efficiently or accurately plan our capacity requirements, which may adversely affect our gross margin, business and operating results.
  • If we are unable to sell our inventory in a timely manner, it could become obsolete, which could require us to write-down or write off obsolete inventory, which could harm our operating results.
  • Disruptions in the worldwide economy may adversely affect our business, results of operations and financial condition.
  • Inflationary price pressures of raw materials, labor, transportation, fuel or other inputs used by us and our suppliers, including the effects of rising interest rates, could negatively impact our business and results of operations.
  • Our business and reputation could be negatively impacted by the increased scrutiny from our stakeholders and institutional investors on ESG practices.
  • The Company is subject to accounting estimate risks.
  • A cybersecurity incident, other technology disruptions or failure to comply with laws and regulations relating to privacy and the protection of data relating to individuals could negatively impact our business, our reputation and our relationships with customers.
  • We may require additional financing to achieve our goals, and a failure to obtain this necessary capital when needed on acceptable terms, or at all, may force us to delay, limit, reduce or terminate our product manufacturing and development, and other operations.
  • A major earthquake, tsunami, tornado, flood, drought or other natural disaster or severe weather event could seriously disrupt our entire business.
  • Climate change may negatively affect our business and operations.
  • Our operations are subject to FDA governmental regulation and other foreign, federal, state and local regulation, and there is no assurance that we will be in compliance with all regulations.
  • We are subject to international regulations that could adversely affect our business and results of operations.
  • Any changes in, or changes in the interpretation of, applicable laws, regulations or policies of the FDA or U.S. Department of Agriculture, or USDA, state regulators or similar foreign regulatory authorities that relate to the use of the word “meat” or other similar words in connection with plant-based protein products could adversely affect our business, prospects, results of operations or financial condition.
  • Litigation or legal proceedings could expose us to significant liabilities and have a negative impact on our reputation or business.
Management Discussion
  • Net revenues decreased by $2.4 million, or 1.6%, in the three months ended July 2, 2022, as compared to the prior-year period primarily due to a decrease in net revenue per pound of approximately 14.2%, partially offset by a 14.6% increase in total pounds sold. The decrease in net revenue per pound was primarily attributable to changes in price, including the impact of sales to liquidation channels and list price reductions in the EU implemented in the first quarter of 2022, changes in foreign exchange rates, and increased trade discounts.
  • Net revenues from U.S. retail channel sales in the three months ended July 2, 2022 increased $1.7 million, or 2.2%, primarily due to sales to TPP of Beyond Meat Jerky introduced in the first quarter of 2022, which contributed $15.9 million in net revenues, and, to a lesser extent, by chicken products including Beyond Chicken Tenders, partially offset by decreases in sales of other products. Beyond Meat branded products were available at approximately 78,000 U.S. retail outlets as of June 2022.
  • Net revenues from U.S. foodservice channel sales in the three months ended July 2, 2022 decreased $0.6 million, or 2.4%, primarily due to discontinued distribution at a certain customer which was included in the year-ago period, partially offset by increases in sales of Beyond Sausage and chicken products including Beyond Chicken Tenders. Beyond Meat branded products were available at approximately 41,000 U.S. foodservice outlets as of June 2022.

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