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5/11, 10:07 PM (Source: TeleTrader)
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Beyond Meat Q1 net revenue at $109.5M, up 1.2% YoY

American producer of plant-based meat substitutes Beyond Meat Inc. announced on Wednesday the company's net revenue in the first quarter of 2022 landed at $109.5 million, increasing 1.2% on an annual basis. The company's net loss was $100.5 million, amounting to $1.58 per common share.

"In the first quarter, we made good progress against our goal of building tomorrow’s global protein company. Whether furthering strategic partnerships in the restaurant industry, the market success of our first product collaboration with PepsiCo, or the continued acclaim awarded to our products here in the U.S. and EU, we continue to lay a robust foundation for our long-term growth," Beyond Meat President and CEO Ethan Brown stated.

Following the release of the earnings report, the company's shares plunged 11.73% during after-hours trading.

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