Shares of Beyond Meat (BYND 4.39%) stock plunged 78% in 2025, according to data provided by S&P Global Market Intelligence. Revenue continues to slide, profits are nonexistent, and the situation is starting to look dire.
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What happened to Beyond Meat?
Beyond Meat went public in 2019, and the market had high expectations for what was then a fast-growing alternative meat brand.
However, whether new interest peaked or customers grew bored, Beyond Meat has stalled. It generally targets meat eaters, marketing its products as healthier and better for the environment, but the concept hasn't taken off with this group; they prefer their meat animal-based. On the other side, many vegan eaters prefer cleaner ingredients. Although Beyond Meat has rolled out many new products to try to revitalize its business, they're not resonating with an expanded consumer base.
Beyond Meat continues to report declining sales and huge losses. In the 2025 fiscal third quarter (ended Sept. 27), sales fell 13.3% from the previous year, and net loss was $110.7 million. It even reported a gross loss at some point, but gross profit was $7.2 million in the quarter, with a 10.3% margin.
CEO Ethan Brown said that the company achieved several objectives recently to improve its financial position, including converting all of its convertible notes, which reduces leverage; extending debt maturity, which gives it time; and increasing overall liquidity. It's also working hard to cut costs and boost growth to get into a better place.
NASDAQ: BYND
Key Data Points
Is there any hope for a turnaround?
The market hasn't been impressed with this progress. Management recently announced a potential new stock offering that would dilute shares, but the company is already stretched in all directions. If there isn't renewed interest in its products, there's only so much debt or equity it can raise to stay solvent.
With $291 million in trailing 12-month sales, there's clearly some market for its products. It just doesn't look like that market is going to increase in a meaningful way in the near future. The best investors can hope for right now is for the company to cut costs enough to meet current demand and eventually return to profitability.
The company enjoyed a bit of meme stock status for a short period at the end of October, but that didn't result in anything except a quick stock jump before the price fell back even lower.
At this point, it looks like a very risky stock, and investors should avoid it until there's some significant progress.
