(Boursier.com) — Beyond Meat, a fallen Wall Street star and leader in plant-based meat substitutes, ignites ahead of the stock market. The group achieved in the fourth quarter revenues close to 80 million dollars, compared to a market consensus of 76 million dollars. US domestic sales also exceeded market expectations. Ethan Brown, CEO of the business, believes that Beyond Meat is making solid progress in its transition to a sustainable growth model. Regardless, quarterly revenue still fell 21%, which isn’t really the definition of growth.
The group now plans, for the year started, revenues ranging from 375 to 415 million dollars, surrounding the consensus of analysts. Over the quarter, the adjusted EBITDA loss was $56 million and the group continued to burn cash at a steady pace. Cash reserves at the end of the period were $310 million. The group is reducing its workforce and spending to restore its margins, but it is not out of the woods yet. The quarterly net loss stands at $67 million, $1.05 per share, which represents 84% of revenue…
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