Beyond Meat Raises 2019 Outlook; Commences Public Offering - Quick Facts

(RTTNews) - Beyond Meat, Inc. (BYND) announced, for 2019, the company is raising its guidance and now expects: net revenues to exceed $240 million, revised from prior expectation of net revenues to exceed $210 million; and adjusted EBITDA to be positive compared to prior expectations of break-even adjusted EBITDA.

For the second-quarter, adjusted EBITDA was $6.9 million compared to an adjusted EBITDA loss of $5.6 million in the second quarter of 2018. Second-quarter net revenues increased 287% to $67.3 million compared to $17.4 million, prior year.

Separately, Beyond Meat announced the commencement of an underwritten public offering of 3.25 million shares of common stock, consisting of 3 million shares of common stock offered by certain selling stockholders and 250 thousand shares of common stock offered by Beyond Meat. The company plans to to use the proceeds: to continue to increase its production and supply capabilities; to pay for marketing and promotional activities; and for general working capital purposes. Beyond Meat will not receive any proceeds from the sale of stock by the selling stockholders.