![]() However, we believe these investments will be instrumental in driving our long-term growth."īrown added, "As we begin 2022, we are pleased with the progress we are making against our long-term strategy, such as the number of tests and core menu placements recently announced by our global QSR partners. The investments we made in our team, infrastructure, and capabilities across the U.S., EU, and China, as well as extensive product scaling activities for key strategic partners, weighed heavily on operating expenses and gross margin during a fourth quarter and year that were already impacted by lower than expected volumes. Despite the variability and challenges of the year, we did not deviate from building the foundation for our long-term growth. retail growth, for our brand and the broader category. These gains, however, were dampened by what we believe to be a temporary disruption in U.S. foodservice channel net revenues as COVID-19 variants peaked and declined. Adjusted EBITDA was a loss of $112.8 million, or -24.3% of net revenues.īeyond Meat President and CEO Ethan Brown commented, "In 2021 we saw strong growth in our international channel net revenues, as well as sporadic yet promising signs of a resumption of growth in U.S.Net loss as a percentage of net revenues was -39.2%. Net loss was $182.1 million, or $2.88 per common share.Gross profit was $117.3 million, or gross margin of 25.2% of net revenues.Net revenues were $464.7 million, an increase of 14.2% year-over-year.Adjusted EBITDA was a loss of $62.9 million, or -62.5% of net revenues.Net loss as a percentage of net revenues was -79.8%. ![]() Net loss was $80.4 million, or $1.27 per common share. ![]()
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