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BEYOND MEAT Beyond MeatⓇ Reports Second Quarter 2021 Financial Results August 5 , 2021 Second Quarter 2021 Net Revenues Increased 32 % Year - Over - Year to $ 149.4 Million Foodservice Channel Net Revenues Increased 218 % Year - Over - Year EL SEGUNDO , Calif . , Aug. 05 , 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 second quarter ended July 3 , 2021 . Second Quarter 2021 Financial Highlights¹ • Net revenues were $ 149.4 million , an increase of 31.8 % year - over - year . • Gross profit was $ 47.4 million , or gross margin of 31.7 % of net revenues . • Net loss was $ 19.7 million or $ 0.31 per common share . Net loss as a percentage of net revenues was -13.2 % . • Adjusted EBITDA was a loss of $ 2.2 million , or -1.5 % of net revenues . Beyond Meat President and CEO Ethan Brown commented , " We are pleased to report record net revenues and the return to growth in foodservice as our customers welcomed consumers back to their venues . We are also proud of our retail performance , where we drove year - over - year growth despite cycling last year's demand surge driven by consumer panic - buying . " Brown added , " We continue to make substantial investments in our long - term growth here in the U.S. and abroad , maintaining our focus on building innovation , production , and team capabilities for the future . We are thrilled with the response to our new Beyond Chicken product and the continued accolades we are receiving for our latest iteration of the Beyond Burger . Coupled with the week - over - week progress we are seeing with our production capabilities in the EU and China , and our continued advancement of our overall cost - down program , I'm optimistic about what lies ahead . That said , given the recent uptick of COVID - 19 cases , which could disrupt demand patterns , we believe caution for the balance of the year generally remains appropriate . " 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 . Second Quarter 2021 Net revenues increased 31.8 % to $ 149.4 million in the second quarter of 2021 , compared to $ 113.3 million in the year - ago period . Growth in net revenues was primarily due to increased foodservice channel sales , reflecting recovery from significantly reduced demand levels in the year - ago period brought on by the COVID - 19 pandemic . Retail channel net revenues increased 6.2 % in the second quarter of 2021 compared to the year - ago period , primarily due to increased distribution and sales among international customers , partially offset by lower U.S. retail channel sales compared to the year - ago period , which benefited from consumer stockpiling behavior at the onset of the pandemic . In aggregate , net revenue per pound of $ 5.69 during the second quarter of 2021 was equivalent to the year - ago period . Net revenues by channel ( unaudited ) : ( in thousands ) U.S .: Three Months Ended July 3 , June 27 , 2021 2020 Change Amount % Retail Foodservice U.S. net revenues International : Retail $ 77,195 $ 90,040 $ 23,961 6,486 101,156 96,526 ( 12,845 ) 17,475 4,630 ( 14.3 ) % 269.4 % 4.8 % 28,544 9,572 18,972 198.2 % Foodservice 19,726 7,240 12,486 172.5 % International net revenues 48,270 16,812 31,458 187.1 % Net revenues $ 149,426 $ 113,338 $ 36,088 31.8 %