Equity DilutionIssuance of new shares during Q4 was dilutive to equity, reflecting the vulnerability of BYND's capital structure amid continued cash burn.
Market DemandThe plant-based meat category has seen volume contractions for an extended period, with consumer preference shifting towards conventional proteins.
Sales GuidanceThe lighter sales guide for FY25 is disappointing, given the presumed growth of new products like Beyond Steak and other innovations.