Drew Angerer/Getty Images News
Beyond Meat (NASDAQ:BYND) disclosed via a SEC filing that the company was unable, without unreasonable effort or expense, to file its annual report on Form 10-K before the deadline of February 29.
The plant-based meat company expects to file the Form 10-K report as soon as possible, but no later than March 15.
Earlier in the week, Beyond Meat (BYND) reported Q4 revenue decreased 7.8% to $73.7M in the quarter vs. $66.7M consensus. The drop was driven by a 14.6% decrease in net revenue per pound, partially offset by an 8.0% increase in volume of products sold. The decrease in net revenue per pound was primarily driven by changes in product sales mix and increased trade discounts, partially offset by favorable changes in foreign currency exchange rates. Beyond Meat (BYND) sees FY24 revenue of $315M to $345M vs. $344M consensus. Gross margin is expected to be in the mid to high teens range for the full year, and is expected to be higher in the second half of the year relative to the first half.
Shares of Beyond Meat (BYND) fell 0.65% in premarket action on Friday, but are still up more than 40% for the week.