Beyond Meat has returned to gross profit following major cutbacks to its operations.
Declining demand for the plant-based products allowed Beyond Meat to slash inventory provision and manufacturing expenses.
Revenues continued to plummet, down 15.3% to $58.2m in the three months to 28 March 2026, as international fast food customers and US retail and foodservice customers cut back their orders.
The California-based meat mimic bounced back from a loss to make $2m in gross profit in the first quarter, up from a gross loss of $6.9m a year ago.
Operational losses totalled $41.1m, at an operating margin of -70.6%. This had improved from an operating loss of $64.4m in Q1 2025, which represented a -93.6% operating margin.
The struggling US group has struggled to handle its mounting losses over recent years, as a crash in demand for its products sent its overheads soaring beyond its income.
But in 2025 the company managed to secure a $550m debt restructuring and extended repayment on a $1.3bn accumulated deficit that it said would support a return to sustainable operations.
Beyond Meat announced in early April it would rename itself to become Beyond The Plant Protein Company to strategically reposition itself and take advantage of trends away from artificial meats – and towards protein as a wider food category.
CEO Ethan Brown said the first quarter marked a “decisive broadening” of the brand as it introduced Beyond Immerse, a functional drink with plant protein, fibre, antioxidants and electrolytes.
Even as we apply our brand, expertise and technology to adjacent markets, we remain highly focused on the performance of our core business, which we believe will deliver substantial long-term value. To this end, we are pleased to report significant operating expense improvement and our lowest quarterly cash use in over two years.”
Brown continued, “We look forward to continuing this transformative work across the balance of the year.”
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