Shares of Past Meat, Inc. (NASDAQ: BYND) fell 6% on Wednesday. The inventory has dropped 69% year-to-date. The plant-based meat firm delivered one other quarter of disappointing outcomes and its outlook for the upcoming three-month interval isn’t encouraging both. Though BYND is persisting in its efforts for a turnaround, the opportunity of this appears low in the mean time.
Continued income declines and losses
Past Meat continues to see declines in revenues together with continued losses quarter after quarter. Within the third quarter of 2025, revenues fell over 13% to $70.2 million in comparison with the earlier yr. The highest line lower was pushed by a ten% drop in quantity and a 3.5% drop in web income per pound.
Volumes have been impacted by weak class demand, diminished factors of distribution in US retail, and decrease gross sales to Fast Service Restaurant (QSR) clients in worldwide foodservice. Increased commerce reductions, product gross sales combine adjustments, and value decreases for sure merchandise led to decrease web income per pound.
Web loss in Q3 widened to $110.7 million, or $1.44 per share, from $26.6 million, or $0.41 per share, within the year-ago interval. Gross margin dropped to 10.3% within the quarter from 17.7% final yr. Margins have been damage by larger value of products offered per pound and decrease web income per pound.
Phase declines
Past Meat noticed revenues decline in each the US and worldwide segments. Inside the US, the corporate noticed double-digit income declines in each the retail and foodservice channels, pushed by declines in quantity and web income per pound. Volumes have been damage primarily by delicate class demand whereas web income per pound was impacted by larger commerce reductions and value cuts for some merchandise.
Within the worldwide retail channel, revenues have been down 4.6%, as a consequence of a 12.5% drop in quantity attributable to decrease gross sales of BYND’s burger, dinner sausage, and hen merchandise. The amount decline was partly offset by a 9.1% improve in web income per pound, which was pushed by product gross sales combine adjustments, and value will increase for some merchandise.
On its earnings name, the corporate talked about that though class dynamics in key worldwide markets have been extra favorable in comparison with the US, two of its prime three markets within the European Union have been seeing year-over-year declines.
The worldwide foodservice channel alone posted a 2% development in revenues, helped by a 4% development in quantity, partly offset by a 2% drop in web income per pound. Volumes have been pushed by larger gross sales of hen merchandise to a QSR buyer, whereas web income per pound was hit by adjustments in product gross sales combine.
Past Meat is striving to drive a restoration via product innovation, partnerships with retailers and value discount. In opposition to a weak demand backdrop, it’s specializing in driving development with eating places and establishments that cater particularly to health-conscious clients.
Bleak outlook
Past Meat has issued a muted outlook for the fourth quarter of 2025 because it continues to face a weak and unsure macroeconomic surroundings. The corporate expects income of $60-65 million for This autumn, which is decrease on each a sequential and year-over-year foundation.
Though Past Meat appears optimistic about its restoration, there seems to be too many hurdles in its path at this level.
