Beyond Meat (BYND) Q3 2026 earnings summary

Executive summary

• Q3 revenue was stable sequentially but fell 8.1% YoY; gross margin improved, adjusted EBITDA loss narrowed, and international retail grew for a third consecutive quarter.

• Priorities remain stabilizing U.S. operations, expanding plant-based nutrition and reducing operating costs to fit current revenue.

Financial highlights

• Net revenue was $64.5M, down 8.1% YoY; volume fell 10.9%, partly offset by a 3.2% increase in revenue per pound.

• Gross profit was $12.4M and gross margin 19.3%, versus $5.2M and 7.4% a year earlier; COGS per pound declined 10.1%.

• Operating expenses were $105.4M versus $103.3M; operating loss was $93.0M versus $98.1M, and net loss was $82.8M versus $97.0M.

• Adjusted EBITDA loss was $24.6M, or 38.1% of revenue, versus $33.5M, or 47.7%; adjusted operating loss was $36.4M versus $44.5M.

• Net other income of $10.1M included a $13.3M non-cash derivative-liability remeasurement gain; interest expense increased $2.5M YoY.

Outlook and guidance

• Q4 2026 net revenue guidance is $54M–$59M amid elevated operating uncertainty and volatility.

• Long-term gross margin ambition remains 30% or higher; right-sizing actions are expected to increasingly benefit results over the near-to-mid-term.

• Operating expense reductions remain a priority, with 2027 targets and plans underway; management said no single measure is sufficient on its own.