![]() For the full year, we grew total net revenues 37%, with sales to retail customers more than doubling versus the prior year."īrown added, "Although weakened foodservice demand resulting from the global pandemic has impacted our near-term profitability, we continue to press forward with strategic investments in service of our future growth, including the build out of our production facilities in China and Europe, bolstering our research and development capabilities, amplifying our marketing voice, upgrading our IT infrastructure, and, importantly, continuing to build out talented teams across the globe to bring our ambitious goals to fruition. Refer to “Non-GAAP Financial Measures” later in this release for the definitions of the non-GAAP financial measures presented and a reconciliation of these measures to their closest comparable GAAP measures.īeyond Meat President and CEO Ethan Brown commented, "I am proud of our 2020 achievements in light of the significant challenges we faced, primarily in our foodservice channel, as a result of the COVID-19 pandemic. Adjusted EBITDA was $11.8 million, or 2.9% of net revenues.ġ This release includes references to non-GAAP financial measures. ![]()
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