LinkedIn
WebsiteCompany Overview
BEYOND MEAT INC (NASDAQ: BYND), founded in 2009 by Ethan Brown and headquartered in El Segundo, California, develops plant-based meat alternatives that seek to address human health, climate change, resource constraints, and animal welfare. The company markets burger patties, sausages, crumbles, strips, and other protein products under the “Beyond®” brand. As of December 2024, Beyond Meat products were available in over 27,000 retail outlets and 38,000 foodservice outlets in the United States, as well as in 38,000 retail and 26,000 foodservice outlets internationally across 65 countries.
Corporate Structure
Beyond Meat operates as a public company with approximately 501–1,000 employees globally. The primary ingredient in its products is pea protein, sourced from Roquette Frères. Beyond Meat’s supply chain excludes GMOs, added hormones or antibiotics, and its products carry Kosher and Halal certifications. Major customers include Dot Foods, which accounted for roughly 12% of revenue in 2024.
Plant-based meat by LikeMeat
Recent Developments
On September 29, 2025, Beyond Meat filed a preliminary proxy statement (Form PRE 14A) and a definitive proxy (Form DEFA 14A) with the SEC to solicit consents and initiate an exchange offer for up to $202.5 million of new 7% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030, along with up to 326.2 million shares of common stock. The exchange requires at least 85% participation from existing noteholders.
Earlier in 2025, the company halted operations in China and announced workforce reductions of approximately 19% in October 2022, followed by additional cuts after a 9% sales decline in November 2023 and a further 6% reduction in August 2025. In mid-2025, Beyond Meat announced that its Beyond Burger, Beyond Beef, and Beyond Steak received Glyphosate Residue Free certification, while its Beyond Chicken Pieces was named a top plant-based meat product by People magazine. A LinkedIn post in 2025 clarified that the company had not filed for bankruptcy and had no plans to do so.
Financial and Strategic Analysis
As of September 29, 2025, BYND shares traded at $1.20, down 57.89% year to date, on a volume of 2,893,265 shares. Key trailing metrics include:
| Metric | Value |
|---|---|
| 52-Week Range | $2.23 – $7.13 |
| Market Capitalization | ~$218 million |
| Revenue (TTM) | $301.35 million |
| Net Income (TTM) | –$153.6 million |
| Profit Margin | –50.97% |
| Levered Free Cash Flow | –$78.15 million |
| Enterprise Value/Revenue | 4.64× |
Beyond Meat faces approximately $1 billion of convertible notes due in March 2027, trading near 17 cents on the dollar. The exchange offer launched on September 29 aims to extend maturities and improve liquidity by issuing higher-interest PIK toggle notes. Management has indicated cost-cutting initiatives and marketing campaigns to address volume declines and margin pressure, targeting EBITDA breakeven by late 2026.
Market Position and Industry Context
Beyond Meat operates in a competitive plant-based protein market alongside competitors such as Impossible Foods and traditional food companies. Demand drivers include sustainability and health considerations, especially among younger consumers. Distribution spans retail and foodservice channels, and the company maintains partnerships within sports and hospitality sectors. Following the initial public offering in May 2019, BYND’s share price and financial performance have declined amid slower revenue growth and ongoing losses.
tl;dr
On September 29, 2025, Beyond Meat filed proxy materials to execute an exchange offer for up to $202.5 million of new 7% convertible PIK toggle notes due 2030 and up to 326.2 million shares of common stock, contingent on 85% participation by existing noteholders. The company’s stock trades at $1.20 (down 57.89% YTD), with TTM revenue of $301 million and a net loss of $153.6 million. Operations in China were halted in early 2025, and successive workforce reductions were announced. Certifications for Glyphosate Residue Free products and recognition for Beyond Chicken Pieces by People magazine highlight ongoing marketing efforts. The near-term focus is on completing the debt exchange by October 30, 2025, improving liquidity, and achieving EBITDA breakeven by late 2026.
