Key Highlights

  • Second quarter 2026 net revenues were $68.8 million, down 8.2%, with international retail up 16.5% and U.S. foodservice down 27.6%.
  • Net income of $16.4 million included a $57.7 million non-cash debt extinguishment gain, against a $30.8 million operating loss.
  • A 1-for-30 reverse split took effect August 13, and Nasdaq closed its minimum bid price deficiency matter on August 28.
  • Third quarter 2026 net revenue outlook is $60 million to $65 million, with $171.4 million of cash at June 27.

Beyond Meat (NASDAQ:BYND) shares were trading near their 52-week low at USD 6.60 on October 19, 2026, a decline of 3.65%. The plant-based food maker reported second quarter net revenues of $68.8 million and net income of $16.4 million that included a non-cash debt gain, then completed a 1-for-30 reverse stock split in August. One reputed broker has published a view since those results.

Brokerage context

Barclays kept an Underweight rating on Beyond Meat in mid-August, after the August 5 second quarter results and the August 13 reverse split. Its target was $10. Underweight is a negative rating, and the reverse split exchanged every 30 existing shares for one new share. The USD 6.60 price is below that target. Broker ratings and targets are the firms' own views and are shown as context only.

Second quarter results: lower revenue, a smaller operating loss and a debt gain

Net revenues fell 8.2% to $68.8 million, with volume down 9.5% and net revenue per pound up 1.3%. The company cited weaker quick-service restaurant sales internationally, weak category demand and fewer points of distribution in the United States. International retail rose 16.5% to $18.5 million, while U.S. retail fell 9.9%, U.S. foodservice 27.6% and international foodservice 16.0%.

Gross profit was $5.9 million, an 8.5% margin against 10.6%, as cost of goods sold per pound rose 3.8%. Operating expenses fell to $36.7 million from $45.4 million, and the loss from operations narrowed to $30.8 million from $37.5 million.

Net income was $16.4 million against a net loss of $31.8 million a year earlier, and the company tied the swing to a $57.7 million non-cash gain on debt extinguishment from conversions of part of its 2030 Notes. Before the split, basic earnings per share were $0.03 and diluted loss per share was $0.06. Adjusted EBITDA, a non-GAAP measure, was a loss of $27.7 million, against a $24.7 million loss. Prior-year comparatives were corrected for errors the company judged immaterial.

Reverse split, Nasdaq compliance and note amendments

Nasdaq sent a deficiency letter on March 4 because the closing bid price had stayed below $1.00 for 30 consecutive business days. The board chose a 1-for-30 ratio on August 11 under stockholder approval from November 2025, and the split took effect at 11:59 p.m. Eastern on August 13, with split-adjusted trading starting August 14. The authorized share count was cut to 100 million from 3 billion.

On August 28 Nasdaq said the bid price had met the minimum for 10 consecutive business days and closed the matter. The company said it cannot guarantee continued compliance.

On August 10 the company signed a supplemental indenture for its 7.00% convertible second lien notes due 2030, removing limits on repurchasing or exchanging its 0% convertible notes due 2027 for cash or equity and extending a make-whole period to January 15, 2029. The company also said it no longer meets Form S-3 eligibility, so its at-the-market program is unavailable.

Liquidity, leadership, products and outlook

Cash and equivalents were $171.4 million at June 27, down from $203.9 million at year-end, and total debt net of discount was $323.8 million. Operating activities used $23.2 million of cash in the first six months. The company refers to existing material weaknesses in internal control over financial reporting and its ability to remediate them.

Brijesh Krishnaswamy was named chief operating officer, scheduled to become full time on September 30. The company launched its Phytosphere portfolio on its new website on September 9 and added Beyond Immerse Protein + Energy, its first caffeinated product, on October 15.

For the third quarter of 2026, the company expects net revenues of approximately $60 million to $65 million, and it gave no full-year outlook.