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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