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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Beyond Meat
Beyond Meat (BYND) investor relations material
Beyond Meat Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary5 Aug, 2026
Executive summary
Q2 net revenue was $68.8 million, down 8.2% year over year; the decline narrowed from 15.3% in Q1 2026 and 19.7% in Q4 2025, and revenue exceeded the guidance range’s $65 million high end.
Turnaround priorities include investing in Europe and Canada, stabilizing U.S. core sales, expanding into nutrition adjacencies, and improving operational efficiency and unit economics.
Sequential progress in revenue, gross margin, operating expenses, and cash use was offset by continued top-line and margin challenges; management cited further work to restore growth and reach cash-flow-positive operations.
Financial highlights
Net revenue fell 8.2% to $68.8 million from $75.0 million; product volume declined 9.5%, partly offset by a 1.4% increase in net revenue per pound.
Gross profit was $5.9 million and gross margin 8.5%, versus $7.9 million and 10.6% a year earlier; Q2 included $1.6 million in China cessation costs.
Operating expenses declined 19% to $36.7 million from $45.4 million, including an $11 million arbitration settlement credit.
Operating loss was $30.8 million versus $37.5 million; net income was $16.4 million versus a $31.8 million net loss, primarily reflecting a $57.7 million non-cash debt-extinguishment gain.
Adjusted EBITDA loss was $27.7 million versus $24.7 million; Q2 cash use excluding financing was ~$18 million, 44% lower and $14 million below the year-ago period.
Outlook and guidance
Q3 2026 net revenue guidance is $60 million-$65 million; broader guidance remains limited by operating uncertainty and volatility.
Near-term growth focus is Europe and Canada, alongside U.S. core-business stabilization and new product launches; Germany and the U.K. were cited as encouraging markets.
Cost priorities include lower operating expenses, production optimization, sourcing initiatives, facility calibration to volume, and reaching cash-flow-positive operations; near-term operating losses and negative cash flows are expected.
Existing cash balances and anticipated cash flows are expected to fund operations for at least 12 months, though additional capital may be sought if needed.
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Latest events from Beyond Meat
- Directors and auditor approved; executive pay rejected; focus on core products and sustainability.BYND
AGM 2026 - Net loss narrowed and gross margin improved despite a 15.3% revenue decline and ongoing demand challenges.BYNDQ1 2026
- Board proposes director elections, auditor ratification, and performance-based executive pay.BYNDProxy filing
- Key votes include director elections, auditor ratification, and executive pay approval.BYNDProxy filing
- Debt restructuring gain drove net income positive despite steep revenue and margin declines.BYNDQ4 2025
- Registration enables resale of 9.56M shares from warrant exercise, raising up to $31.2M.BYNDRegistration Filing
- Q3 2024 net revenues rose 7.6% with margin gains and a narrowed net loss, but risks persist.BYNDQ3 2024
- Gross margin rose to 14.7% as net loss narrowed, despite an 8.8% revenue decline.BYNDQ2 2024
- Net revenues fell 9.1% with negative gross margin and new $100M financing amid ongoing uncertainty.BYNDQ1 2025
Next Beyond Meat earnings date
Q3 20264 Nov, 2026
Beyond Meat
Next Beyond Meat earnings date
Q3 20264 Nov, 2026
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Frequently asked questions
Meat Substitutes
Beyond Meat is an American company headquartered in Los Angeles and the company’s shares are listed on the Nasdaq. The company develops, manufactures, and sells various plant-based substitutes for vegetarians, vegans, and consumers looking for alternatives to traditional hamburgers, sausages, and other meat-based products. The company is relatively young and was founded with the stated mission of combating climate change by reducing the amount of meat consumed worldwide.
Founded in 2009
The company was founded in 2009 by Ethan Brown. He had a vision of combating climate change by offering appetizing alternatives to traditional meat products, and to launch his company he contacted two professors at the University of Missouri. The two professors in question, Fu-hung Hsieh and Harold Huff had been developing a meatless protein for years. Brown subsequently licensed their technology and began selling Beyond Meat’s first product, Chicken-Free Strips, at select Whole Foods (now owned by Amazon) locations in 2012.
The IPO and Founding
Beyond Meat has significant backing during the years ahead of its IPO. Several large venture capital firms were heavily involved in the growth process, as well as a number of high-profile individuals and organizations such as Bill Gates and The Humane Society. Beyond Meat also gathered significant buzz amongst celebrities, with names such as Leonardo DiCaprio, Snoop Dogg, Jessica Chastain, and several others providing funding for the company.
In 2019, the company went public on the Nasdaq. It became the first company of its kind to become publicly traded and on its IPO date it was the best-performing public offering in almost two decades when compared to other major US companies.
The Products
The company, as previously mentioned, is exclusively focused on selling various types of plant-based foods made to look and taste as close to real meat as possible. Beyond Meat started out by only selling a chicken substitute, but today markets a wide array of different “meats”. This includes beef, pork, poultry, and more in various forms. The company sells its products to supermarkets like Costco and Kroger, as well as to restaurants. While the company primarily sells in the USA, it has a presence in over 50 countries.