Beyond Meat posts $16.4 million net income in Q2 2026 as debt gain offsets revenue decline

EL SEGUNDO, Calif., Aug. 5. Beyond Meat, Inc. (NASDAQ: BYND) swung to a net income of $16.4 million in the second quarter ended June 27, 2026, reversing a net loss of $31.8 million a year earlier. A $57.7 million non-cash gain on debt extinguishment tied to conversions of the company's 2030 Notes drove the turnaround, the company's 8-K filed August 5 shows. Net revenues fell 8.2% to $68.8 million.

Revenue declines broad but uneven by channel

The top-line drop reflected a 9.5% decrease in volume of products sold, partly offset by a 1.3% increase in net revenue per pound. U.S. retail revenues declined 9.9% to $29.6 million. U.S. foodservice fell 27.6% to $8.0 million. Both channels reported lower points of distribution and weak category demand, the company said.

International retail was the exception. Revenues there rose 16.5% to $18.5 million, driven by an 8.2% increase in volume and a 7.7% gain in net revenue per pound, the release shows. Higher sales of burger and chicken products in European markets and the United Kingdom, along with increased ground beef sales in Canada, accounted for the volume growth. International foodservice revenues declined 16.0% to $12.7 million, pressured by a 20.4% drop in volume sold tied to lower orders from certain QSR customers.

Operating loss narrows; gross margin compresses

Loss from operations narrowed to $30.8 million from $37.5 million a year ago, an operating margin of -44.8% versus -50.0%. Gross profit came in at $5.9 million, or 8.5% of revenues, down from $7.9 million and 10.6% in the year-ago quarter. The gross profit figure included $1.6 million in costs related to the cessation of operational activities in China.

Operating expenses included an $11.0 million credit from settlement of arbitration proceedings with a former co-manufacturer, compared to a $2.5 million expense in the prior-year period. Also recorded: $4.7 million in incremental share-based compensation related to the convertible debt exchange, $0.5 million in non-routine SG&A charges, and $0.4 million in amortization tied to a partial lease termination at the El Segundo campus headquarters. Adjusted EBITDA loss widened to $27.7 million, or -40.2% of net revenues, from $24.7 million, or -33.0%, a year earlier.

CEO cites sequential improvement, new product lines

Ethan Brown, president and CEO, said second-quarter results showed directional progress, with net revenues, gross margin and operating expenses all sequentially improving and the top line exceeding the high end of guidance, according to the release. Brown pointed to growth in international retail and the U.S. retail debut of Beyond Steak Filet. He also cited the launch of Beyond Immerse as the first product from the company's repositioning around what it now calls the Beyond The Plant Protein Company identity.

For the six months ended June 27, 2026, net revenues totaled $127.0 million, compared to $143.7 million in the year-ago period, a decline of 11.6%.