Summary by Moomoo AI
Beyond Meat, Inc., a leader in plant-based meat alternatives, announced its financial results for the third quarter ended September 28, 2024. The company reported a 7.6% increase in net revenues to $81.0 million compared to the same period last year. Gross profit improved significantly to $14.3 million, with a gross margin of 17.7%, a substantial increase from a gross loss in the previous year. The loss from operations decreased to $30.9 million from $69.6 million year-over-year, and net loss improved to $26.6 million, or $0.41 per common share, from a net loss of $70.5 million, or $1.09 per common share. Adjusted EBITDA loss was also reduced to $19.8 million from $57.5 million. The company's CEO, Ethan Brown, expressed satisfaction with the return to growth and the improvement in margins and...Show More
