Beyond Meat’s Revenue Increases by a Whopping 486% in 2019

According to an article on RestaurantDive, Beyond Meat’s restaurant and foodservice revenue have increased by 486% this past year, growing to $58.3 million in the first half of 2019. Beyond's restaurant and foodservice division are now responsible for roughly half of the plant-based meat company's revenue, with retail driving $53.7 million.

Beyond Meat CFO Mark Nelson said on an earnings call that the explosive Q2 sales growth can be attributed to the brand's signature Beyond Burger, a growing demand from existing customers and new restaurant deals.

Although the company recently experienced a shortage of supply, it hasn’t slowed down. According to the article, “Dunkin' is now offering Beyond Sausage breakfast sandwiches at select Manhattan stores and plans to take the item nationwide in the future. Tim Hortons is also selling a similar product, though sales from these items aren't yet included in the company's 2019 forecast since they are still in a trial stage.”

Some analysts feel that the brand's hype is overblown. Beyond has also yet to turn a profit, according to the article, and its "nagging production issues could prove to be a stumbling block."

To read the full article, click here.