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Beyond Meat Faces Revenue Miss and Audit Delay
17 Mar
Summary
- Beyond Meat forecasts fourth-quarter revenue below estimates.
- Company delays annual report due to financial control issues.
- Plant-based maker expects to file its 10-K by March 31.
Beyond Meat's fourth-quarter revenue is anticipated to be below analyst expectations, with preliminary figures around $61 million against a forecast of $62.6 million. The plant-based meat producer also projected full-year 2025 net revenue of approximately $275 million, slightly under the estimated $276.5 million.
The company has announced an unexpected delay in filing its 2025 annual report, citing significant weaknesses in its internal financial controls. This necessitates additional time to meticulously review inventory balances, specifically addressing excess and obsolete stock.
Beyond Meat stated it is actively reviewing its internal control procedures and formulating a remediation plan to address these identified weaknesses. The company has not yet determined the full financial impact of its inventory review.
Shareholders are awaiting the official fourth-quarter results, which Beyond Meat plans to release after market close on March 25. The company aims to file its comprehensive Form 10-K with the securities regulator by March 31.
