(Beyond Meat) Beyond Meat fell 28% in premarket on Thursday after reporting a $97.6 million loss from operations in the first quarter of 2022. The loss was wider than the -$24.65 million reported in the prior year.
The overall net loss in the quarter worsened to almost four times after hitting $100.5 million, compared to a net loss of $27.3 million in the prior year.
The adjusted EBITDA was recorded at a loss of $78.9 million or -72.1% of net revenues, wider than a loss of $10.8 million or -10.0% of net revenues in the prior year.
Beyond Meat’s net revenues only rose marginally to $109.5 million, compared to revenue of $108.2 million in the prior year.
The company said that the total volume of products sold rose by 12.4% in the quarter from last year.
BYND: NASDAQ is down -28.16% on premarket.
