Beyond Meat, Inc. stock research
FY2025 Q1
Beyond Meat (BYND) Gross Margin — Quarter Ended Mar 29, 2025
Revenue declined compared to both the prior quarter and the same quarter last year, while cost of revenue increased, leading to a negative gross profit and a weakened gross margin.
Gross margin takeaway
Quarter ended Mar 29, 2025 · FY2025 Q1
Revenue declined compared to both the prior quarter and the same quarter last year, while cost of revenue increased, leading to a negative gross profit and a weakened gross margin.
- The primary observable driver of the margin change is the increase in cost of revenue despite lower revenue, resulting in a negative gross margin.
- Compared to the immediately preceding quarter, revenue was lower, cost of revenue was higher, and gross profit turned from positive to negative, causing gross margin to weaken. Versus the same quarter one year ago, revenue was lower, cost of revenue was higher, and gross profit declined from positive to negative, also weakening gross margin.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
-10.1%
Gross profit
-$6.9M
Revenue
$68.7M
Cost of revenue
$75.7M
Quarter-over-quarter change
-23.1 pts
Year-over-year change
-14.9 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 |
|---|---|---|---|---|
| Jun 29, 2024 | $93.2M | $13.7M | $79.5M | 14.7% |
| Sep 28, 2024 | $81.0M | $14.3M | $66.7M | 17.7% |
| Dec 31, 2024 | $76.7M | $10.0M | $66.7M | 13.1% |
| Mar 29, 2025 | $68.7M | -$6.9M | $75.7M | -10.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
-23.1 pts
Year-over-year change
Mar 30, 2024
-14.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The primary observable driver of the margin change is the increase in cost of revenue despite lower revenue, resulting in a negative gross margin.
Compared to the immediately preceding quarter, revenue was lower, cost of revenue was higher, and gross profit turned from positive to negative, causing gross margin to weaken. Versus the same quarter one year ago, revenue was lower, cost of revenue was higher, and gross profit declined from positive to negative, also weakening gross margin.
Monitor the trend in cost of revenue relative to revenue, as it has been the primary factor in the gross margin deterioration.