Beyond Meat (BYND) financial statements
Beyond Meat reported revenue of $275M in fiscal 2025, up 30.6% a year over 8 years.
Net income was $219M and the operating margin -121.1%, against -87.7% in 2017.
Free cash flow was -$157M.
The diluted share count rose 3215% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Beyond Meat's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33M | $88M | $298M | $407M | $465M | $419M | $343M | $326M | $275M |
| Cost of revenue | $35M | $70M | $198M | $285M | $347M | $443M | $426M | $285M | $268M |
| Gross profit | -$2M | $18M | $100M | $122M | $117M | -$24M | -$83M | $42M | $8M |
| Research and development | $6M | $10M | $21M | $32M | $67M | $62M | $40M | $28M | $23M |
| Selling, general and admin | $17M | $34M | $75M | $134M | $209M | $240M | $204M | $170M | $218M |
| Operating income | -$29M | -$28M | -$489,000 | -$49M | -$175M | -$343M | -$342M | -$156M | -$334M |
| Interest expense | $1M | $1M | $3M | $3M | $4M | $4M | $4M | $4M | $14M |
| Pre-tax income | -$30M | -$30M | -$12M | -$53M | -$179M | -$347M | -$334M | -$160M | $219M |
| Income tax | $5,000 | $1,000 | $9,000 | $72,000 | $60,000 | $32,000 | $5,000 | -$26,000 | $0 |
| Net income | -$30M | -$30M | -$12M | -$53M | -$182M | -$366M | -$338M | -$160M | $219M |
| EPS (diluted) | -$5.57 | -$4.75 | -$0.29 | -$0.85 | -$2.88 | -$5.75 | -$5.26 | -$2.43 | -$1.83 |
| Diluted shares | 5M | 6M | 42M | 62M | 63M | 64M | 64M | 66M | 181M |
| Gross margin | -6.7% | 20.0% | 33.5% | 30.1% | 25.2% | -5.7% | -24.1% | 12.8% | 2.8% |
| Operating margin | -87.7% | -31.8% | -0.2% | -12.1% | -37.6% | -81.8% | -99.6% | -47.8% | -121.1% |
| Net margin | -93.3% | -34.0% | -4.2% | -13.0% | -39.2% | -87.4% | -98.5% | -49.1% | 79.5% |
Balance sheet
Fiscal years, from Beyond Meat's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $39M | $54M | $276M | $159M | $733M | $310M | $191M | $132M | $204M |
| Receivables | — | $13M | $40M | $36M | $44M | $34M | $32M | $27M | $26M |
| Inventory | — | $30M | $82M | $122M | $242M | $236M | $130M | $113M | $84M |
| Total current assets | — | $103M | $404M | $332M | $1.1B | $606M | $373M | $286M | $341M |
| Property, plant and equipment | — | $31M | $47M | $115M | $226M | $257M | $194M | $185M | $213M |
| Total assets | — | $134M | $452M | $468M | $1.4B | $1.1B | $774M | $678M | $615M |
| Total current liabilities | — | $25M | $48M | $89M | $94M | $76M | $74M | $61M | $75M |
| Long-term debt | — | $30M | $20M | $0 | $1.1B | $1.1B | $1.1B | $1.1B | $416M |
| Total liabilities | — | $255M | $68M | $101M | $1.2B | $1.3B | $1.3B | $1.3B | $616M |
| Shareholders' equity | -$96M | -$122M | $384M | $367M | $132M | -$204M | -$513M | -$601M | -$997,000 |
| Net debt | -$39M | -$24M | -$245M | -$134M | $396M | $824M | $947M | $1.0B | $212M |
Cash flow
Fiscal years, from Beyond Meat's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$25M | -$38M | -$47M | -$40M | -$301M | -$320M | -$108M | -$99M | -$145M |
| Capital spending | $8M | $22M | $24M | $58M | $136M | $70M | $11M | $11M | $12M |
| Free cash flow | -$33M | -$60M | -$71M | -$98M | -$437M | -$391M | -$118M | -$110M | -$157M |
| Stock-based compensation | $665,000 | $2M | $13M | $27M | $28M | $34M | $29M | $24M | $31M |
| Share buybacks (net) | $0 | -$514,000 | $0 | $0 | — | — | — | — | — |
| Free cash flow margin | -101.8% | -68.2% | -23.8% | -24.0% | -94.1% | -93.3% | -34.5% | -33.6% | -57.1% |
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Open BYND in InvestinglyQuestions
What was Beyond Meat's revenue in 2025?
$275M in fiscal 2025, from its 10-K filing.
How much free cash flow does Beyond Meat generate?
-$157M in fiscal 2025 (operating cash flow minus capital spending).
From Beyond Meat's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.