Plant-based meat company Beyond Meat Inc. ( BYND ) reported third-quarter financial results Monday after market close.

Here are the highlights.

Q3 Results: Beyond Meat ( BYND ) reported third-quarter net revenue of $70.2 million, down 13.3% year-over-year. The revenue total beat a Street consensus estimate of $68.96 million, according to data from Benzinga Pro.

The company said the decline in revenue came mainly from a 10.3% decrease in product volume sold, along with a 3.5% decrease in net revenue per pound, due to weak category demand.

In the quarter, lower sales of burger products to quick service restaurant customers in the international foodservice channel were also a reason for lower overall revenue.

Revenue by segment was:

US retail: $28.5 million, -18.4% year-over-year

US foodservice: $10.5 million, -27.3% year-over-year

International retail: $15.8 million, -4.6% year-over-year

International foodservice: $15.3 million, +2.3% year-over-year

The company reported a loss of 47 cents per share, which missed the Street consensus estimate of a loss of 31 cents per share.

Read Also: Beyond Meat ( BYND ) Q3 Preview: Investors Hope Delayed Report Shows Growth, Future Plans

What's Next: The company highlighted its recent financing transactions that exchanged its 2027 convertible notes and an at-the-market offering.

"As we approach the end of 2025, we've achieved three important building blocks for our broader transformation efforts. These are significantly reducing our overall leverage in connection with the previously announced exchange of substantially all of our 2027 convertible notes; meaningfully extend our debt maturity; and finally, adding substantial liquidity to our balance sheet," Beyond Meat ( BYND ) CEO Ethan Brown said.

Brown said the company is taking additional steps, including exploring cost reductions, expanding gross margin through investments, and pursuing strategic growth initiatives, all in an effort to "accelerate our path to sustainable operations."

The company is guiding for fourth-quarter net revenue in a range of $60 million to $65 million, versus a Street consensus estimate of $70.0 million, according to data from Benzinga Pro.

BYND Price Action: Beyond Meat ( BYND ) stock is down 8% to $1.23 in after-hours trading Monday versus a 52-week trading range of $0.50 to $7.69.

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