(Beyond Meat) Shares of Beyond Meat, Inc. plunged more than 10% after reporting net revenues of $100.7 million in the fourth quarter of 2021, down by 1.2% from the previous year.
In FY21, Beyond Meat’s revenue was $464.7 million, up from $406.8 million in 2020.
The company’s net loss in the fourth quarter was $80.37 million, widening from a loss of $25.1 million in the prior year. FY21 net loss was $182.11 million, worse than $52.75 million in the previous year.
The adjusted EBITDA loss in the fourth quarter was reported at $62.9 million, representing about -62.5% of net revenues. FY21 Loss was $112.8 million, equivalent to -24.3% of net revenues.
The company upgraded its net revenues for FY22 to $560 million to $620 million, representing a gain of 21% to 33% from the previous year.
BYND: NASDAQ is down -10.84%.
