BEYOND MEAT, INC. SEC Filings

Beyond Meat, Inc. describes how it is reshaping its plant-based meat business amid prolonged category weakness, high leverage and liquidity pressures. The company is focusing on cost reduction, margin recovery and cash generation through its Global Operations Review and a Transformation Office.

In 2025 it exited or discontinued select product lines, ceased operational activities in China, and carried out several workforce reductions across North America, the EU and China. These moves triggered non-cash charges, including a $2.4 million provision for excess and obsolete inventory and $49.0 million in loss on write-down of assets held for sale.

As of December 31, 2025, Beyond Meat held $9.4 million of assets classified as held for sale and expected to dispose of them within a year. The company is also managing significant obligations under a Loan and Security Agreement and its 0% Convertible Senior Notes due 2027 and 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030, while pursuing new products, direct-to-consumer offerings and long-term growth initiatives.

Beyond Meat, Inc. entered into a multi-year Sales Agreement with Roquette Frères under which Roquette will supply pea protein through December 31, 2027. The agreement is based on minimum annual purchase quantities, totaling about $23.5 million over the term, subject to inflation and exchange rate adjustments.

If Beyond Meat does not meet the minimum annual quantities, it must pay Roquette liquidated damages based on the value of unpurchased volumes, with some ability to roll volumes between years. The company must also provide a $1.0 million standby letter of credit to secure payment obligations.

The board approved the 2026 Employment Inducement Equity Incentive Plan, reserving 10,000,000 shares of common stock for awards. Adopted under Nasdaq Rule 5635(c)(4), the plan allows equity grants only to new or returning employees as a material inducement to join Beyond Meat.

Beyond Meat reported steep revenue declines and heavy operating losses for Q4 and full-year 2025, offset by a large accounting gain from debt restructuring. Q4 net revenues fell 19.7% to $61.6 million and full-year 2025 net revenues declined 15.6% to $275.5 million as volumes dropped across U.S. and international channels.

Loss from operations widened to $132.7 million in Q4 and $332.7 million for 2025, driven by impairment charges, asset write-downs, litigation accruals and costs tied to exiting China. A $548.7 million non-cash gain on debt restructuring produced reported net income of $409.9 million for Q4 and $219.9 million for 2025, while Adjusted EBITDA remained deeply negative. The company disclosed new material weaknesses in internal control, immaterial errors in prior 2025 quarters, a delayed 2025 Form 10-K filing, loss of Form S-3 eligibility, and guided Q1 2026 net revenues to about $57–$59 million.

The Vanguard Group filed Amendment No. 7 to a Schedule 13G/A reporting that it beneficially owns 0 shares (0%) of Beyond Meat Inc. common stock as shown in the filing. The amendment explains an internal realignment effective January 12, 2026, and states certain Vanguard subsidiaries will report holdings separately.

The filing is signed by Ashley Grim as Head of Global Fund Administration and documents Vanguard's disaggregated reporting posture under SEC Release No. 34-39538.

Beyond Meat, Inc. is delaying the release of its fourth quarter and full-year 2025 financial results until March 31, 2026, when it also expects to file its Form 10-K and host a conference call after market close.

The company identified a new material weakness in internal control over financial reporting as of December 31, 2025, related to accounting for its inventory provision, including excess and obsolete inventory. During its year-end close, it found errors in previously issued 2025 quarterly financial statements that understated cost of goods sold and certain selling, general and administrative expenses, and overstated loss from impairment in the third quarter.

Management currently believes these errors are immaterial to the earlier quarterly reports and plans to correct them prospectively in fiscal 2026 quarterly filings, with further details expected in Item 9B of the upcoming Form 10-K. The company also warns that its ongoing inventory review could materially affect its financial statements and might lead its audit committee to determine that some prior financials can no longer be relied upon.

Beyond Meat, Inc. is unable to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 within the prescribed time. The company says it needs additional time to complete a review and analysis of its inventory balances, including the provision for excess and obsolete inventory.

The company currently expects to finalize the review and file the Form 10-K no later than March 31, 2026, but the timing may be subject to further delay. It also expects to report a material weakness in internal control over financial reporting as of December 31, 2025, related to controls over the inventory provision, and is developing a remediation plan.

Beyond Meat, Inc. reported that it will delay filing its Annual Report on Form 10-K for the year ended December 31, 2025 while it completes a review of its inventory balances, including provisions for excess and obsolete inventory. Management expects to file the report by March 31, 2026, but the timing may be further delayed.

The company disclosed preliminary, unaudited estimates showing net revenues of approximately $61 million for the fourth quarter of 2025, in line with prior guidance of $60 million to $65 million, and approximately $275 million for full-year 2025. These figures are subject to completion of closing procedures and audit and may change, potentially materially.

Management expects to report that a material weakness in internal control over financial reporting existed as of December 31, 2025, related to accounting for the inventory provision. As a result of this and previously identified material weaknesses, Beyond Meat believes its internal control over financial reporting and its disclosure controls and procedures were not effective as of that date. The company plans to report fourth quarter and full-year 2025 results on March 25, 2026 and host a conference call to discuss them.

Beyond Meat, Inc. reported that Nasdaq notified the company on March 4, 2026 that its common stock has failed to meet the $1.00 minimum bid price requirement for the last 30 consecutive business days. The stock remains listed on the Nasdaq Global Select Market under “BYND” for now.

The company has 180 calendar days, until August 31, 2026, for its closing bid price to reach at least $1.00 for ten consecutive business days to regain compliance. If it cannot, Beyond Meat may seek a transfer to the Nasdaq Capital Market and request an additional 180-day period, subject to meeting other listing standards.

Stockholders previously approved amendments on November 19, 2025 that allow the board to implement a reverse stock split and reduce authorized shares, which the board may use to help restore compliance. The company cautions there is no assurance it will satisfy Nasdaq’s listing rules.

BEYOND MEAT, INC. Chief Operations Officer Jonathan P. Nelson reported a Form 4 showing a tax-related share disposition. On this transaction, 2,104 shares of common stock were withheld at $0.825 per share to cover taxes on vesting restricted stock units granted under the company’s Amended and Restated 2018 Equity Incentive Plan. After this withholding, he directly owns 556,673 shares of Beyond Meat common stock.