At a Glance

  • Plant-based meat company Beyond Meat announced in a press release and securities filing on Tuesday that it isdelaying the submission ofits fourth quarter and full-year 2025 results, citing the need for "additional time to complete its review and analysis related to inventory balances, including recorded excess and obsolete inventory provisions."
  • The delay comes after the El Segundo, California-based company firstidentified a material weakness in internal control over financial reportingin November and had delayed its third quarter 2025 results by about a week, as previously reported by CFO Dive.
  • Beyond Meat expects to report in its filing with the U.S. Securities and Exchange Commission that, as of December 31, 2025, it had a material weakness in internal control over financial reporting related to controls over the accounting for inventory provisions. The company is reviewing its internal control procedures and developing a remediation plan.

Deep Dive

Beyond Meat said in the press release that itexpects to release its full-year and fourth quarter results after market close on March 25. The company is "working to complete its fourth quarter and full year financial close procedures, but has not yet made a determination regarding the potential impact on its financial statements." It currently expects to complete the review and file its annual 10-K "no later than" March 31.

"However, the timing of the filing may be further delayed, and the company cannot assure that a final filing date will be determined before the related work is completed," Beyond Meat said.

The results delay is the latest step by the struggling plant-based meat company to strengthen its financial reporting process. This follows the company's November filing, in which it noted the need for personnel with "strong technical accounting and public company reporting knowledge" to improve its internal controls, and subsequently hired new accounting leadership.

In December, about a month after first identifying the material weakness, Beyond Meat fired its former chief accounting officer and controller Yi (Jevy) Luo andappointed Tony Kalajianas chief accounting officer and controller, effective January 12, as reported by CFO Dive.

The company announced in November that it would implement training for accounting and finance personnel and plans to improve its technical resources to ensure proper accounting for certain transactions.

The company had previously provided preliminary revenue expectations for full-year and fourth quarter 2025, expecting fourth quarter revenue of approximately $61 million, consistent with the $60 million to $65 million range it provided in its third quarter results. Full-year net revenue is expected to be approximately $275 million.

In the third quarter, Beyond Meat's revenue and gross profit both declined significantly, and the company also reported anon-cash impairment chargeof $77.4 million related to certain long-lived assets, according to its November 10 earnings report.

Beyond Meat's stock price has been below $1 per share since the beginning of the year, according to Nasdaq data.

While working to resolve the material weakness and strengthen its accounting processes, the plant-based meat supplier has also taken several steps to improve sales and win back customers and shareholders. Earlier this month, in a post on its X account on March 4, the companyannounced a rebranding, changing its name to "Beyond The Plant Protein Company" on social media and its website.

Last month, the company announced the expansion of itsplant-based protein drinkline with four new flavors, featuring ingredients such as pea protein and tapioca fiber, according to a February 26 press release.

However, Beyond Meat still faces ongoing scrutiny from customers and shareholders. The company, along with its CEO Ethan Brown and CFO Lubi Kutua, is a defendant ina class action lawsuitfiled by Rosen Law Firm on behalf of shareholders, according to an announcement on the law firm's website. The lawsuit alleges the defendants made materially false or misleading statements regarding the carrying value of certain long-lived assets, and no class has been certified yet.