Beyond Meat Inc ( BYND ) reported first-quarter financial results after the market close on Wednesday. Here’s a rundown of the report.

Q1 Revenue: $68.73 million, versus estimates of $75.01 million

Q1 Adjusted Loss: 67 cents, versus estimates of 48 cents

Total revenue was down 9.1% year-over-year. The plant-based meat company noted that its net loss was impacted by legal expenses, strategic decisions to increase provisions for certain inventory items and the suspension of the company’s operations in China.

“As the first quarter of 2025 progressed to a close, we saw a slowdown in consumption as the uncertain macroeconomic environment likely exacerbated category challenges,” said Ethan Brown, president and CEO of Beyond Meat ( BYND ).

“Nevertheless, we drove year-over-year reductions in operating expenses, notwithstanding the impact of certain transitory items, to partially offset disappointing net revenues and gross profit.”

The company ended the quarter with $115.8 million in cash, cash equivalents and restricted cash, as well as $1.1 billion in total outstanding debt.

In connection with earnings, Beyond Meat ( BYND ) announced that it successfully closed a financing facility providing up to $100 million in new senior secured debt from Unprocessed Foods, LLC.

Outlook: Beyond Meat ( BYND ) expects second-quarter net revenue to be in the range of $80 million to $85 million versus estimates of $93.47 million, according to Benzinga Pro.

Management will further discuss the quarter on a conference call scheduled to begin at 5 p.m. ET.

BYND Price Action: Beyond Meat ( BYND ) shares were down 5.51% in Wednesday’s after-hours session, trading at $2.40 at the time of publication, according to Benzinga Pro.

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