Beyond Meat reported a net loss of $28.5 million in the first quarter of 2026, a steep improvement from a $61.1 million loss in the year-ago quarter. The company's gross margin also recovered, moving to positive 3.4% compared with negative 10.1% a year earlier, driven in part by lower manufacturing expenses.
Sales volume fell 19.5% in the quarter, with a 5.4% increase in net revenue per pound partially offsetting the decline. Net revenues came to $58.2 million, down 15.3% year over year. Foodservice drove much of the loss, with volumes falling 31.8% in the US and 32.6% internationally. Retail showed relative strength, particularly international retail, which grew 0.3% as European demand and distribution improved.
CEO Ethan Brown said the company will not retreat from plant-based meat but is betting on functional drinks to draw customers into the broader plant-protein category. The high-protein drinks range, Beyond Immerse, targets four categories: protein drinks, fibre drinks, vitamin drinks and electrolyte drinks. The line is designed with GLP-1 users in mind and is currently available only through Beyond Meat's website. The company plans a New York launch this summer in partnership with drinks distributor Big Geyser. Q2 net revenues are expected in the $60 million to $65 million range.