Beyond Meat has reported its financial results for the third quarter ended 27 September 2025, reporting a 13.3% decrease in net revenues year-over-year.

Net revenues for Q3 were $70.2 million, and gross profit was $7.2 million – down from $14.3 million in the year-ago period.

Gross profit and gross margin – 10.3%, compared to 17.7% year-on-year – included $1.7 million in expenses related to the suspension of the company’s operations in China.

Loss from operations was $112.3 million, compared to loss from operations of $30.9 million in the year-ago period. This included $77.4 million in non-cash impairment charges related to certain long-lived assets.

It also included $700,000 in incremental legal and other fees associated with arbitration proceedings related to a previously-disclosed contractual dispute with a former co-manufacturer, and $600,000 in costs related to a partial lease termination of a portion of its headquarters in El Segundo, California, US.

Net loss for the quarter was $110.7 million, or $1.44 per common share, compared to net loss of $26.6 million ($0.41 per common share) in the year-ago period.

Due to continued market uncertainty, Beyond has limited its revised 2025 outlook, now projecting net revenues in the range of $60 million to $64 million for Q4.

Ethan Brown, president and CEO of Beyond Meat, said the company is taking “strong” measures to accelerate its path to sustainable operations. These include pursuing “further and sizeable” cost reductions, gross margin expansion investments and targeted strategic growth initiatives.

The company has already been implementing measures targeted at optimising its operations for cost efficiency in recent years. In February, coinciding with the posting of its fourth quarter 2024 results, the alt-meat maker revealed plans to suspend its operations in China and cut 64 jobs. Additionally, the company reduced its North America workforce by around 44 employees later in the year.

In September, Beyond announced an exchange offer for its 0% convertible senior notes due 2027. The offer enables holders to swap them for 7% convertible notes due 2030, alongside common stock shares, in an effort to eliminate over $800 million of debt.

Brown commented: “As we approach the end of 2025, we’ve achieved three important building blocks for our broader transformation efforts. These are significantly reducing our overall leverage in connection with the previously announced exchange of substantially all of our 2027 convertible notes; meaningfully extending our debt maturity; and finally, adding substantial liquidity to our balance sheet.”

He added that while category headwinds and an accompanying softer top-line “continue to weigh on and reverberate throughout our current performance,” the company will be closing 2025 with “important transformation spadework underway, and genuine optimism and excitement” for Beyond’s future.