Gross Margin Turnaround
Gross profit of ~$2.0M producing a gross margin of 3.4% in Q1 2026 vs a gross margin of -10.1% in Q1 2025 (improvement of ~13.5 percentage points), driven by lower cost per pound, reduced manufacturing expenses and inventory provision improvements.
Improved Adjusted EBITDA and Net Loss
Adjusted EBITDA loss narrowed to $27.8M (‑47.7% of net revenues) in Q1 2026 from a loss of $50.5M (‑73.5% of net revenues) in Q1 2025. Net loss improved to $28.5M ($0.06 per share) from $61.1M ($0.80 per share) year‑over‑year.
Lower Operating Expenses
Total operating expenses decreased to $43.1M in Q1 2026 from $57.4M in Q1 2025, a year‑over‑year reduction of approximately $14M driven by lower product donation costs, legal expenses, and reduced salaries and related expenses.
Material Reduction in Cash Consumption
Cash and cash equivalents were $205.8M as of March 28, 2026. Quarterly cash use was ~$11.8M (company noted as the lowest quarterly cash use in over two years). Net cash used in operating activities improved to $5.0M in Q1 2026 vs $26.1M in Q1 2025.
International Retail Growth
International retail net revenues increased 8.1% YoY to $13.7M; volume up 0.3% and net revenue per pound up 7.8%, aided by favorable FX and distribution gains in certain European markets.
Operational and Manufacturing Progress
Consolidated production network, activated continuous line in Columbia, MO, realized inventory reductions, implemented SKU rationalization and efficiency projects that reduced cost per pound and improved conversion rates year‑over‑year.
New Product Launches and Certifications
Multiple product initiatives: Beyond Immerse (clear protein beverage) launching in New York; Beyond Chicken Pieces Spicy Buffalo rolled out to 2,000+ Kroger stores; nationwide Beyond Breakfast Sausage at Kroger and Sprouts (soon Whole Foods); Beyond Steak Filet gaining DTC traction. Company achieved >20 Clean Label Project certifications and Climate Solutions recognition for Beyond Burger IV and Beyond Steak.