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BEYOND MEAT® Beyond Meat® Reports First Quarter 2021 Financial Results May 6 , 2021 First Quarter 2021 Net Revenues Increased 11 % Year - Over - Year to $ 108.2 Million Gross Profit Improved Sequentially to $ 32.7 Million or 30.2 % of Net Revenues EL SEGUNDO , Calif . , May 06 , 2021 ( GLOBE NEWSWIRE ) -- Beyond Meat , Inc. ( NASDAQ : BYND ) ( " Beyond Meat " or " the Company " ) , a leader in plant - based meat , today reported financial results for its first quarter ended April 3 , 2021 . First Quarter 2021 Financial Highlights¹ • Net revenues were $ 108.2 million , an increase of 11.4 % year - over - year . • Gross profit was $ 32.7 million , or gross margin of 30.2 % of net revenues . • Net loss was $ 27.3 million , or $ 0.43 per common share ; Adjusted net loss was $ 26.2 million , or $ 0.42 per common share , reflecting exclusion of expenses attributable to early debt extinguishment . • Adjusted EBITDA was a loss of $ 10.8 million , or -10.0 % of net revenues . Beyond Meat President and CEO Ethan Brown commented , " We were pleased to see sequential improvement in our revenue growth and gross margin performance despite continued COVID - 19 pressure on our foodservice business . Throughout the first quarter , we remained highly focused on investing in and building out production infrastructure in the U.S. , the EU , and China ; new product development and commercialization for our strategic QSR customers and retail markets ; and research and development in service to our core growth levers of taste , nutrition , and cost . " Brown added , " As I look at the foundation we are putting in place , I have never been more optimistic about Beyond Meat's future as a significant and enduring global protein company . More near - term , we are cautiously returning to the practice of issuing guidance , starting with net revenues , as we have recently begun to see a slow thaw occurring within foodservice both domestically and in certain international markets . " 1 This release includes references to non - GAAP financial measures . Refer to " Non - GAAP Financial Measures " later in this release for the definitions of the non - GAAP financial measures presented and a reconciliation of these measures to their closest comparable GAAP measures . First Quarter 2021 Net revenues increased 11.4 % to $ 108.2 million in the first quarter of 2021 , compared to $ 97.1 million in the year - ago period . Growth in net revenues was primarily due to increased retail channel sales , partially offset by a decline in foodservice channel sales due to the continued impact of COVID - 19 on foodservice demand levels . Growth in volume sold during the first quarter of 2021 was partially offset by lower net price per pound driven by the Company's strategic investments in promotional activity , and product mix shifts as larger - pack items carrying a lower net price per unit volume accounted for a greater proportion of the Company's retail net revenues compared to the year - ago period . Net revenues by channel ( unaudited ) : ( in thousands ) U.S .: Retail Foodservice U.S. net revenues International : Retail Foodservice International net revenues Net revenues $ $ Three Months Ended April 3 , 2021 63,826 16,742 80,568 17,199 10,397 27,596 108,164 $ $ March 28 , 2020 49,923 $ 22,631 72,554 5,952 18,568 24,520 97,074 $ Amount Change 13,903 ( 5,889 ) 8,014 11,247 ( 8,171 ) 3,076 11,090 % 27.8 % ( 26.0 ) % 11.0 % 189.0 % ( 44.0 ) % 12.5 % 11.4 % Gross profit was $ 32.7 million , or gross margin of 30.2 % of net revenues , in the first quarter of 2021 , compared to $ 37.7 million , or gross margin of