Beyond Meat to delay annual report, reports preliminary Q4 revenue

March 16 (Reuters) - Beyond ‌Meat on ​Monday ​reported preliminary fourth-quarter revenue below Wall Street expectations and said it will delay filing ‌its 2025 annual report, as it needs more ⁠time to review its inventory balances, including provisions for excess ‌and obsolete inventory.

Shares of ‌the company fell 4.1% in extended trading. The stock fell 78% in 2025.

The faux-meat producer has been ​grappling with softening demand, as inflation-hit consumers pull back from its higher priced products and shift ⁠towards less processed food.

The company reported preliminary revenue of about $61 million ​for the fourth quarter, in line with its previous expectations, but below analysts estimates of $62.6 ​million, as per data compiled ‌by LSEG.

The plant-based meat maker now expects to file its annual report with ⁠the U.S. securities regulator by March 31. It is also reviewing its internal procedures and is in the process ⁠of developing a remediation plan.

The company said it has not ​determined the potential impact of its inventory review on its financial statements.

Beyond Meat had also delayed its third-quarter results report ‌by a week as it needed more time to quantify an impairment charge related ‌to some of its assets.

The company, whose shares ⁠last year experienced a ‌meme-stock frenzy, will ​report its fourth-quarter results on March 25.

(Reporting by Sanskriti Shekhar in Bengaluru; Editing by Shailesh ‌Kuber)

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