Beyond Meat, Inc. stock research
FY2024 Q2
Beyond Meat (BYND) Gross Margin — Quarter Ended Jun 29, 2024
Revenue increased compared to the prior quarter, and gross profit rose sharply while cost of revenue grew less, resulting in a higher gross margin. Relative to the same quarter a year earlier, revenue was lower, but gross profit was higher and cost of revenue was lower, leading to a significantly improved gross margin.
Gross margin takeaway
Quarter ended Jun 29, 2024 · FY2024 Q2
Revenue increased compared to the prior quarter, and gross profit rose sharply while cost of revenue grew less, resulting in a higher gross margin. Relative to the same quarter a year earlier, revenue was lower, but gross profit was higher and cost of revenue was lower, leading to a significantly improved gross margin.
- The strongest observable margin driver is the change in gross profit relative to cost of revenue, as gross profit increased both sequentially and year-over-year while cost of revenue moved in a favorable direction.
- Compared to the immediately preceding quarter, gross margin improved from a lower level. Compared to the same quarter one year earlier, gross margin also improved from a lower level, with both gross profit and cost of revenue showing favorable comparisons.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
14.7%
Gross profit
$13.7M
Revenue
$93.2M
Cost of revenue
$79.5M
Quarter-over-quarter change
+9.9 pts
Year-over-year change
+12.5 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2023 | $75.3M | -$7.3M | $82.6M | -9.6% |
| Dec 31, 2023 | $73.7M | -$83.9M | $157.5M | -113.8% |
| Mar 30, 2024 | $75.6M | $3.7M | $71.9M | 4.9% |
| Jun 29, 2024 | $93.2M | $13.7M | $79.5M | 14.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 30, 2024
+9.9 pts
Year-over-year change
Jul 1, 2023
+12.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the change in gross profit relative to cost of revenue, as gross profit increased both sequentially and year-over-year while cost of revenue moved in a favorable direction.
Compared to the immediately preceding quarter, gross margin improved from a lower level. Compared to the same quarter one year earlier, gross margin also improved from a lower level, with both gross profit and cost of revenue showing favorable comparisons.
Monitor the company's liquidity and capital resources, including the at-the-market offering program, as discussed in the filing.