BYND · BEYOND MEAT, INC.
10-Q filed 2026-05-07 period 2026-03-28
35 Distress
confidence medium · source filing on SEC.gov ↗
- Net revenues declined by 15.3% year-over-year to $58.2 million, driven by a 19.5% drop in volume sold, particularly in international foodservice and U.S. retail channels.
- The Company initiated a strategic repositioning to 'Beyond The Plant Protein Company' to expand into adjacent categories like functional beverages, signing a distribution deal with Big Geyser.
- Identified and corrected immaterial accounting errors from Q1 2025 related to inventory valuation and debt issuance costs, while maintaining a material weakness in internal controls.
vs. prior filing (10-K filed 2026-04-09) — ⚠ ALERT
FHS 22 → 35 (+13) · Distress -> Distress
Profitability +15Balance sheet +0Cash generation +30Risk flags +5Mgmt signal +15
Filing Health Score pillars
Profitability 25%
30
Net revenues decreased by 15.3% to $58.2 million due to weak category demand, though gross margin improved to positive 3.4% from -10.1% in the prior year (MD&A - Net Revenues, Gross Profit and Gross Margin).
Balance sheet 20%
35
Cash of $191.0 million is outweighed by substantial debt, including $300.5 million in 2030 Notes and $81.7 million in term loans, with a current ratio of 2.85x (Balance Sheet).
Cash generation 20%
40
Operating cash flow improved to negative $5.0 million from negative $26.1 million in the prior year, but free cash flow remains negative amid ongoing net losses (MD&A - Overview).
Risk flags 20%
30
Risk factors highlight material weaknesses in internal controls, corrected financial errors from 2025, and $38.9 million in accrued litigation expenses (Risk Factors, Balance Sheet, MD&A - Correction of Previously Issued Financial Statements).
Mgmt signal 15%
45
Management is executing a strategic repositioning to 'Beyond The Plant Protein Company' and expanding into beverages, while exiting underperforming operations like China (MD&A - Overview).
Key metrics (Three Months Ended March 28, 2026)
net income: -$28.5 million
cash and equivalents: $191.0 million
total debt: $491.6 million
shares outstanding: Not disclosed in the provided text
revenue: $58.2 million
period: Three Months Ended March 28, 2026
operating cash flow: -$5.0 million
Gemma triage notes (pre-analysis, second opinion)
None for this filing.Automated research summaries derived from SEC filings. Not investment advice.