Investing.com -- Beyond Meat said preliminary fourth-quarter revenue came in below Wall Street expectations and that it will delay filing its 2025 annual report as it reviews inventory balances, including provisions for excess and obsolete stock.

Shares fell 5.6% in premarket trading Tuesday by 04:31 ET. The stock is down 1.5% this year and has fallen more than 76% over the past 12 months.

The plant-based meat maker continues to face weak demand, as consumers pressured by inflation shift away from its higher-priced, processed products.

The company reported preliminary fourth-quarter revenue of about $61 million, in line with its own guidance but below analysts’ estimates of $62.6 million, according to LSEG data. Full-year revenue for 2025 is expected to be around $275 million.

Beyond Meat now expects to file its annual report with the U.S. Securities and Exchange Commission by March 31. It said it is reviewing internal procedures and working on a remediation plan.

The company has not yet determined the potential impact of the inventory review on 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 had previously delayed its third-quarter report by a week to quantify an impairment charge tied to certain assets.

It is scheduled to report full fourth-quarter results on March 25.