![]() ![]() ![]() In reality, all that is needed to feed a growing global population is to make agriculture as productive in developing countries as it is in the developed world. The United Nations Food and Agriculture Organisation (FAO) claims animal agriculture is responsible for more than 14 per cent of global greenhouse emissions, with beef and dairy livestock accounting for 65 per cent of those emissions.Ĭlimate activists also claim that livestock farming takes up too much land and water to produce enough food to feed the growing global population which is why they argue the only animals people should eat are insects. Brown’s motivation for starting the company was to fight climate change by reducing global cow flatulence. What came over Doug Ramsey, chief operating officer of Beyond Meat, a company championed by Bill Gates and celebrities such as Snoop Dogg, Kim Kardashian and Leonardo DiCaprio in 2019, but whose shares had taken a nose-dive even before Ramsey’s snack attack?īeyond Meat was founded in 2009 by Ethan Brown who wanted to revolutionise the meat supply chain with a portfolio of fake meat products. ![]() These payments are initially recorded.The news that an executive in a fake meat company allegedly bit off the tip of the nose of a man in a road rage incident leaves a bad taste in the mouth of any self-respecting vegan. Management believes these non-GAAP financial. Net revenues from international foodservice. Operating Expenses Research and Development. Read moreĭuring 2022, the tenant improvements. Research and Development Expenses Research. Read moreįuture events and effects related. These non-GAAP financial measures should. The COVID-19 pandemic, inflation, rising. Recently Adopted Accounting Pronouncements Please. Read moreīeyond Meat Jerky negatively impacted. There are a number of limitations related to the use of Adjusted EBITDA and Adjusted EBITDA as a % of net revenues rather than their most directly comparable GAAP measures. See Part I, Risk Factors-Risks Related to Our Business-Our strategic initiatives to reduce our cost structure towards cash flow positive operations could have long-term adverse effects on our business, and we may not realize the operational or financial benefits from such actions and Our inability to streamline operations and improve cost efficiencies could result in the contraction of our business and the implementation of significant cost cutting measures. The decrease in net revenue per pound was primarily due to list price reductions in the EU implemented in the first quarter of 2022, impact of unfavorable foreign exchange rates, increased trade discounts and changes in sales mix. Net cash outflows from changes in operating assets and liabilities were primarily due to $55.1 million in cash outflows associated with the prepaid lease costs for the Campus Lease (see Note 10, Commitments and Contingencies, to the Notes to Consolidated Financial Statements included elsewhere in this report), payments toward accounts payable and a decrease in accrued expenses. Results of Operations The following table sets forth selected items in our statements of operations for the periods presented: The following table presents selected items in our statements of operations as a percentage of net revenues for the periods presented: Year Ended DecemCompared to Year Ended DecemNet Revenues Net revenues in the year ended Decemdecreased by $45.8 million, or 9.8%, as compared to the prior year primarily due to a 10.2% decrease in net revenue per pound including the impact of unfavorable changes in foreign exchange rates, increased sales to liquidation channels and list price reductions in the U.S. Other Inside Beyond Meat, Inc.'s 10-K Annual Report: ![]()
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