BYND · BEYOND MEAT, INC.
10-Q filed 2026-08-06 period 2026-06-27
27 Distress
confidence medium · source filing on SEC.gov ↗
- Net revenues declined by 8.2% in Q2 2026 and 11.6% in H1 2026 due to persistent weak demand in the plant-based meat category and reduced points of distribution.
- The company recorded a net income of $16.4 million in Q2 2026, which was driven entirely by a non-operating $57.7 million gain on debt extinguishment, masking continued operating losses of $30.8 million.
- Beyond Meat initiated a strategic repositioning to 'Beyond The Plant Protein Company,' expanding into adjacent categories like functional beverages (Beyond Immerse) while exiting operational activities in China.
vs. prior filing (10-Q filed 2026-05-07)
FHS 35 → 27 (-8) · Distress -> Distress
Profitability -5Balance sheet -15Cash generation -15Risk flags +0Mgmt signal -5
Filing Health Score pillars
Profitability 25%
25
Net revenues declined 8.2% in Q2 2026, and gross margin fell to 8.5% from 10.6% in the prior year, with operating losses continuing at $30.8 million (MD&A - Results of Operations).
Balance sheet 20%
20
The company faces significant leverage and liquidity risks from its outstanding 2027 and 2030 Convertible Notes, loss of Form S-3 eligibility to access its ATM program, and ongoing dilution from debt-to-equity exchanges (Risk Factors).
Cash generation 20%
25
Operating cash flow remains negative at $(23.2) million for the first six months of 2026, though improved from $(58.0) million in the prior year, reflecting ongoing cash burn (MD&A - Overview).
Risk flags 20%
30
The company reports existing material weaknesses in internal controls and corrected prior period errors related to inventory valuation and debt issuance costs (MD&A - Correction of Previously Issued Financial Statements).
Mgmt signal 15%
40
Management is executing a strategic repositioning to 'Beyond The Plant Protein Company' and expanding into beverages (Beyond Immerse), but notes these initiatives require incremental investment with uncertain returns (MD&A - Overview).
Key metrics (Three and six months ended June 27, 2026)
period: Three and six months ended June 27, 2026
total debt: Not reported in provided text
cash and equivalents: Not reported in provided text
shares outstanding: Not reported in provided text
revenue: $68.8 million (Q2 2026) / $127.0 million (H1 2026)
net income: $16.4 million (Q2 2026) / $(12.1) million (H1 2026)
operating cash flow: $(23.2) million (H1 2026)
Gemma triage notes (pre-analysis, second opinion)
None for this filing.Automated research summaries derived from SEC filings. Not investment advice.