Beyond Meat to lay off 6% of its workforce and suspend operations in China

FY 2024 revenues: $326.5 million, down 4.9% year-over-year According to a Nov 2024 SEC filing, Beyond Meat’s Chinese subsidiary Beyond Jiaxing Food Co struck a agreement with the Administrative Committee of the Jiaxing Economic & Technological Development Zone in late 2020 to lease a facility in the zone for at least two years. The agreement was amended in December 2022 to extend the term for an additional five years. “As of September 28, 2024, the company had invested $22 million as the registered capital of Beyond Jiaxing Food Co and advanced $20 million to Beyond Jiaxing Food Co,” explained the company.

Going to Distribution wins in France In international marketplaces, Brown, he felt bullish about France, with Beyond Steak launching at selected retailers and Beyond’s plant-based nuggets launching at 1,500+ McDonald’s outlets. Other areas of recent expansion in Europe include the introduction of Smash burgers at Tesco in the UK and a Beyond plant burger at Wendy’s in Georgia [the country], he told reporters. Large brand blocks in the US In the US, Beyond Meat continues to work with retailers on merchandising, stated Brown. “Our goal is to go back to large brand blocks.

And that’s not something that a administration or trade can solve. If you look at the avian livestock sector… that’s [avian flu] not something that’s easily containable. All these things are going to worsen with a warming climate… “At some point, serious people need to step forward and deal with these problems, and we’re there to help.” Will Beyond Meat consider adding cultivated fat to its products?

Asked by one analyst if Beyond Meat would consider adding cultivated fat to its products, Brown told reporters he would “look at everything,” but added that, “I think the trend is actually in the opposite direction. Sure, you can have some beef out on the pasture, but you have to have far, far less, right?

That took an enormous amount of effort… and we’re not completely done. “We’re making some incremental investments in our facilities to uptick automation. We’re doing another RFP for materials and elements.” $1.1bn debt The business, which posted a net loss of $44.9 million in the quarter, had a cash. Cash equivalents balance of $145.6 million as of Dec 31, 2024, and a total outstanding debt of $1.1 billion thanks to a $1 billion+ offering of convertible notes made in March 2021 (when turnover at the business peaked) that will mature in early 2027. Per to Brown: “In 2025 we will continue to evaluate options to further improve liquidity and optimize our capital structure.