Beyond Meat (BYND) Q2 2026 earnings summary

Executive summary

• Net revenues for Q2 2026 were $68.8 million, down 8.2% year-over-year, primarily due to a 9.5% drop in product volume and persistent weak demand in key channels.

• Gross margin improved to 8.5%, up from prior quarters, aided by operational efficiencies, though still below the prior year's 10.6% due to higher material and manufacturing costs.

• Net income reached $16.4 million, a turnaround from a $31.8 million net loss a year ago, driven by a $57.7 million non-cash gain on debt extinguishment.

• Operating expenses fell to $36.7 million, including a $11 million arbitration settlement credit and $4.7 million in share-based compensation.

• Adjusted EBITDA loss was $27.7 million (-40.2% margin), slightly worse than the prior year, but cash use improved significantly.

Financial highlights

• Net revenues decreased 8.2% year-over-year to $68.8 million, with a 9.5% drop in volume partially offset by a 1.4% increase in net revenue per pound.

• Gross profit was $5.9 million (8.5% margin), down from $7.9 million (10.6% margin) a year ago.

• Cash and equivalents stood at $186.1 million, with $323.8 million in debt as of June 27, 2026; net cash used in operations for the first half was $23.2 million, down from $58 million a year ago.

• Operating expenses as a percentage of net revenues improved to 53.3% from 60.6% year-over-year.

• Adjusted net loss per share was $(0.09) compared to $(0.39) in Q2 2025.

Outlook and guidance

• Q3 2026 net revenues are expected to be $60–$65 million, reflecting continued uncertainty and volatility in the operating environment.

• Management expects continued operating losses and negative cash flows in the near term, with focus on cost reduction, inventory management, and margin expansion.

• The company believes existing cash balances and anticipated cash flows will fund operations for at least the next twelve months, but may seek additional capital if needed.