Beyond Meat (NASDAQ:BYND) said its preliminary fourth-quarter revenue fell short of Wall Street expectations and announced it will postpone filing its 2025 annual report as it reviews inventory levels, including potential provisions for excess and obsolete stock.
Shares dropped about 5.6% in premarket trading Tuesday as of 04:31 ET. The stock has declined roughly 1.5% so far this year and has lost more than 76% of its value over the past 12 months.
The plant-based meat producer continues to face soft demand as inflation pressures lead consumers to move away from higher-priced processed products.
Beyond Meat reported preliminary fourth-quarter revenue of approximately $61 million. While this figure was consistent with the company’s own guidance, it came in below analysts’ expectations of $62.6 million, according to LSEG data. Full-year revenue for 2025 is projected to total about $275 million.
The company said it now expects to submit its annual report to the U.S. Securities and Exchange Commission by March 31, noting that it is currently reviewing internal procedures and developing a remediation plan.
Beyond Meat added that it has not yet determined how the inventory review may affect its financial statements.
“As a result of these issues, management expects to report that a material weakness in the Company’s internal control over financial reporting existed as of December 31, 2025, related to controls associated with the accounting for its inventory provision,” Beyond Meat said in the release.
The company previously postponed the release of its third-quarter report by one week in order to assess an impairment charge tied to certain assets.
Beyond Meat is scheduled to publish its full fourth-quarter results on March 25.