0001655210-22-000084 | 10-Q | XBRL Viewer

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Cover Page - shares	3 Months Ended
Cover Page - shares	Apr. 02, 2022	May 11, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 02, 2022
Document Transition Report	false
Entity File Number	001-38879
Entity Registrant Name	BEYOND MEAT, INC.
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001655210
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-4087597
Entity Address, Address Line One	119 Standard Street
Entity Address, City or Town	El Segundo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90245
City Area Code	866
Local Phone Number	756-4112
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	BYND
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,542,426

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 02, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 547,858	$ 733,294
Accounts receivable, net	52,675	43,806
Inventory	283,754	241,870
Prepaid expenses and other current assets	33,010	33,078
Total current assets	917,297	1,052,048
Property, plant, and equipment, net	241,389	226,489
Operating lease right-of-use assets	25,692	26,815
Prepaid lease costs, non-current	96,166	59,188
Other non-current assets, net	6,613	6,836
Investment in unconsolidated joint venture	7,353	8,023
Total assets	1,294,510	1,379,399
Current liabilities:
Accounts payable	67,387	69,040
Wages payable	3,406	155
Accrued bonus	2,754	128
Current portion of operating lease liabilities	4,454	4,458
Accrued expenses and other current liabilities	22,807	20,226
Short-term finance lease liabilities	183	182
Total current liabilities	100,991	94,189
Long-term liabilities:
Convertible senior notes, net	1,130,657	1,129,674
Operating lease liabilities, net of current portion	21,485	22,599
Finance lease obligations and other long term liabilities	396	442
Total long-term liabilities	1,152,538	1,152,715
Commitments and Contingencies (Note 10)
Stockholders’ equity:
Preferred stock, par value $0.0001 per share—500,000 shares authorized, none issued and outstanding	0	0
Common stock, par value $0.0001 per share—500,000,000 shares authorized; 63,525,399 and 63,400,899 shares issued and outstanding at April 2, 2022 and December 31, 2021, respectively	6	6
Additional paid-in capital	519,681	510,014
Accumulated deficit	(477,430)	(376,972)
Accumulated other comprehensive loss	(1,276)	(553)
Total stockholders’ equity	40,981	132,495
Total liabilities and stockholders’ equity	$ 1,294,510	$ 1,379,399

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 02, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	500,000	500,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	63,525,399	63,400,899
Common stock, outstanding (in shares)	63,525,399	63,400,899

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Income Statement [Abstract]
Net revenues	$ 109,455	$ 108,164
Cost of goods sold	109,265	75,456
Gross profit	190	32,708
Research and development expenses	19,678	15,925
Selling, general and administrative expenses	75,114	38,954
Restructuring expenses	3,026	2,474
Total operating expenses	97,818	57,353
Loss from operations	(97,628)	(24,645)
Other (expense) income, net:
Interest expense	(1,025)	(629)
Other, net	(1,124)	(1,570)
Total other expense, net	(2,149)	(2,199)
Loss before taxes	(99,777)	(26,844)
Income tax expense	10	48
Equity in losses of unconsolidated joint venture	671	374
Net loss	$ (100,458)	$ (27,266)
Net loss per share available to common stockholders—basic (in dollars per share)	$ (1.58)	$ (0.43)
Net loss per share available to common stockholders—diluted (in dollars per share)	$ (1.58)	$ (0.43)
Weighted average common shares outstanding—basic (in shares)	63,465,205	62,941,748
Weighted average common shares outstanding—diluted (in shares)	63,465,205	62,941,748

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (100,458)	$ (27,266)
Other comprehensive loss, net of tax:
Foreign currency translation loss, net of tax	(723)	(1,258)
Comprehensive loss, net of tax	$ (101,181)	$ (28,524)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2020		62,820,351
Beginning balance at Dec. 31, 2020	$ 367,097	$ 6	$ 560,210	$ (194,867)	$ 1,748
Increase (Decrease) in Stockholders' Equity
Net loss	(27,266)			(27,266)
Issuance of common stock under equity incentive plans, net (in shares)		188,183
Issuance of common stock under equity incentive plans, net	2,048		2,048
Purchase of capped calls related to convertible senior notes	(83,950)		(83,950)
Share-based compensation for equity classified awards	7,376		7,376
Foreign currency translation adjustment	(1,258)				(1,258)
Ending balance (in shares) at Apr. 03, 2021		63,008,534
Ending balance at Apr. 03, 2021	264,047	$ 6	485,684	(222,133)	490
Beginning balance (in shares) at Dec. 31, 2021		63,400,899
Beginning balance at Dec. 31, 2021	132,495	$ 6	510,014	(376,972)	(553)
Increase (Decrease) in Stockholders' Equity
Net loss	(100,458)			(100,458)
Issuance of common stock under equity incentive plans, net (in shares)		124,500
Issuance of common stock under equity incentive plans, net	375		375
Share-based compensation for equity classified awards	9,292		9,292
Foreign currency translation adjustment	(723)				(723)
Ending balance (in shares) at Apr. 02, 2022		63,525,399
Ending balance at Apr. 02, 2022	$ 40,981	$ 6	$ 519,681	$ (477,430)	$ (1,276)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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+ Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Cash flows from operating activities:
Net loss	$ (100,458)	$ (27,266)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	7,091	4,326
Non-cash lease expense	1,118	724
Share-based compensation expense	9,292	7,376
Loss on sale of fixed assets	315	3
Amortization of debt issuance costs	984	369
Loss on extinguishment of debt	0	1,037
Equity in losses of unconsolidated joint venture	671	374
Net change in operating assets and liabilities:
Accounts receivable	(9,108)	(963)
Inventories	(43,043)	(24,729)
Prepaid expenses and other assets	(213)	(2,877)
Accounts payable	(2,295)	1,098
Accrued expenses and other current liabilities	8,527	10,689
Prepaid lease costs, non-current	(36,978)	0
Operating lease liabilities	(1,113)	(818)
Net cash used in operating activities	(165,210)	(30,657)
Cash flows from investing activities:
Purchases of property, plant and equipment	(21,548)	(23,363)
Return (payment) of security deposits	49	(18)
Net cash used in investing activities	(21,499)	(23,381)
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes	0	1,150,000
Purchase of capped calls related to convertible senior notes	0	(83,950)
Debt issuance costs	0	(23,150)
Repayment of revolving credit facility	0	(25,000)
Principal payments under finance lease obligations	(45)	(36)
Proceeds from exercise of stock options	815	2,861
Payments of minimum withholding taxes on net share settlement of equity awards	(439)	(812)
Net cash provided by financing activities	331	1,019,913
Net (decrease) increase in cash and cash equivalents	(186,378)	965,875
Effect of exchange rate changes on cash	942	15
Cash and cash equivalents at the beginning of the period	733,294	159,127
Cash and cash equivalents at the end of the period	547,858	1,125,017
Supplemental disclosures of cash flow information:
Interest	17	297
Taxes	52	48
Non-cash investing and financing activities:
Issuance costs of convertible senior notes, accrued not yet paid	0	455
Non-cash additions to property, plant and equipment	6,874	8,148
Non-cash additions to financing leases	0	580
Operating lease right-of-use assets obtained in exchange for lease liabilities	$ 0	$ 105

Introduction	3 Months Ended
Introduction	Apr. 02, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Introduction	Introduction The Company Beyond Meat, Inc., a Delaware corporation (including its subsidiaries unless the context otherwise requires, the “Company”), is a leading plant-based meat company offering a portfolio of revolutionary plant-based meats. The Company builds meat directly from plants, an innovation that enables consumers to experience the taste, texture and other sensory attributes of popular animal-based meat products while enjoying the nutritional and environmental benefits of eating the Company’s plant-based meat products. The Company’s brand commitment, “Eat What You Love,” represents a strong belief that there is a better way to feed our future and that the positive choices we all make, no matter how small, can have a great impact on our personal health and the health of our planet. By shifting from animal-based meat to plant-based protein, we can positively impact four growing global issues: human health, climate change, constraints on natural resources and animal welfare. As of April 2, 2022, approximately 89.5% of the Company’s assets were located in the United States. COVID-19 Pandemic On March 11, 2020, the World Health Organization declared COVID-19 a pandemic. The global spread and unprecedented impact of COVID-19 continues to create significant volatility, uncertainty and economic disruption. The Company’s operations and its financial results including net revenues, gross profit, gross margin and operating expenses were negatively impacted by COVID-19 in 2020, 2021 and the first quarter of 2022. The extent of COVID-19’s effect on the Company’s operational and financial performance will depend on future developments, including the duration, spread and intensity of the pandemic (including any resurgences), the impact of variants of the virus that causes COVID-19, the wide distribution and public acceptance of COVID-19 vaccines, labor needs at the Company as well as in the supply chain and at customers, compliance with government or employer COVID-19 vaccine mandates and the resulting impact on available labor, and the level of social and economic restrictions imposed in the United States and abroad in an effort to curb the spread of the virus, all of which are uncertain and difficult to predict. As a result, it is not currently possible to ascertain the overall impact of COVID-19 on the Company’s business, results of operations, financial condition or liquidity. While the ultimate health and economic impact of COVID-19 continues to be highly uncertain, the Company expects that the adverse impact of COVID-19 on its business and results of operations, including its net revenues, gross profit, gross margin, earnings and cash flows, will continue into 2022. Future events and effects related to the COVID-19 pandemic cannot be determined with precision and actual results could significantly differ from estimates or forecasts.

Summary of Significant Accounting Policies

3 Months Ended

Apr. 02, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

A detailed description of the Company's significant accounting policies can be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on March 2, 2022 (“2021 10-K”). There have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2021 10-K, except as noted below.

Basis of Presentation

The unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in

accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of the Company’s financial position and of the results of operations and cash flows for the periods presented. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2022 or for any other interim period or for any other future fiscal year. These condensed consolidated financial statements should be read in conjunction with the Company's audited financial statements and notes thereto included in the 2021 10-K. The condensed consolidated balance sheet as of December 31, 2021 has been derived from the audited financial statements at that date.

Principles of Consolidation

The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated.

Management’s Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates made by the Company include trade promotion accruals; useful lives of property, plant and equipment; valuation of deferred tax assets; valuation of inventory; incremental borrowing rate used to determine operating lease right-of-use assets and operating lease liabilities; assessment of contract-based factors, asset-based factors, entity-based factors and market-based factors to determine the lease term impacting right-of-use assets and lease liabilities; the valuation of the fair value of stock options used to determine share-based compensation expense; and loss contingency accruals in connection with claims, lawsuits and administrative proceedings. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results could differ from those estimates and such differences may be material to the financial statements.

Foreign Currency

Foreign currency translation losses, net of tax, reported as cumulative translation adjustments through “Other comprehensive loss” were $0.7 million and $1.3 million for the three months ended April 2, 2022 and April 3, 2021, respectively. Realized and unrealized foreign currency transaction losses, net included in “Other, net” were $1.1 million and $0.3 million during the three months ended April 2, 2022 and April 3, 2021, respectively.

Fair Value of Financial Instruments

The Company had no financial instruments measured at fair value on a recurring basis as of April 2, 2022 and December 31, 2021.

There were no transfers of financial assets or liabilities into or out of Level 1, Level 2 or Level 3 for the three months ended April 2, 2022.

Revenue Recognition

At the end of each accounting period, the Company recognizes a contra asset to accounts receivable for estimated sales discounts that have been incurred but not paid which totaled $4.3 million and

$3.6 million as of April 2, 2022 and December 31, 2021, respectively. The offsetting charge is recorded as a reduction of revenues in the same period when the expense is incurred.

Presentation of Net Revenues by Channel

The following table presents the Company’s net revenues by channel:


	Three Months Ended
(in thousands)	April 2, 2022		April 3, 2021
U.S.:
Retail	$	68,260	$	63,826
Foodservice	15,493		16,742
U.S. net revenues	83,753		80,568
International:
Retail	16,137		17,199
Foodservice	9,565		10,397
International net revenues	25,702		27,596
Net revenues	$	109,455	$	108,164

One customer and one distributor accounted for approximately 12% and 10% of the Company’s gross revenues, respectively, in the three months ended April 2, 2022; and one customer accounted for approximately 11% of the Company’s gross revenues in the three months ended April 3, 2021. No other customer or distributor accounted for more than 10% of the Company’s gross revenues in the three months ended April 2, 2022 and April 3, 2021.

Investment in Joint Venture

The Company uses the equity method of accounting to record transactions associated with its joint venture when the Company shares in joint control of the investee. Investment in joint venture is not consolidated but is recorded in “Investment in unconsolidated joint venture” in the Company’s condensed consolidated balance sheets. The Company recognizes its portion of the investee’s results in “Equity in losses of unconsolidated joint venture” in its condensed consolidated statements of operations. The Company eliminates its proportionate interest in any intra-entity profits or losses in the inventory of the investee at the end of the reporting period and recognizes its portion of the profit and losses when realized by the investee.

Shipping and Handling Costs

Outbound shipping and handling costs included in selling, general and administrative (“SG&A”) expenses in the three months ended April 2, 2022 and April 3, 2021 were $5.9 million and $3.3 million, respectively.

Recently Adopted Accounting Pronouncements

None.

Restructuring	3 Months Ended
Restructuring	Apr. 02, 2022
Restructuring and Related Activities [Abstract]
Restructuring	RestructuringIn May 2017, management approved a plan to terminate the Company’s exclusive supply agreement (the “Agreement”) with one of its co-manufacturers, due to non-performance under the Agreement and on May 23, 2017, the Company notified the co-manufacturer of its decision to terminate the Agreement. In the three months ended April 2, 2022 and April 3, 2021, the Company recorded $3.0 million and $2.5 million, respectively, in restructuring expenses related to this dispute, which consisted primarily of legal and other expenses. See Note 10 for further information. As of April 2, 2022 and December 31, 2021, the Company had $1.3 million and $2.7 million, respectively, in accrued and unpaid restructuring expenses.

Leases

3 Months Ended

Apr. 02, 2022

Leases [Abstract]

Leases

Leases are classified as either finance leases or operating leases based on criteria in Accounting Standards Codification 842. The Company has operating leases for its corporate offices, including its Manhattan Beach Project Innovation Center where the Company’s research and development facility is located, its manufacturing facilities, commercialization center, warehouses and vehicles, and to a lesser extent, certain equipment and finance leases. Such leases generally have original lease terms between two years and 12 years, and often include one or more options to renew. Some leases also include early termination options, which can be exercised under specific conditions. The Company includes options to extend the lease term if the options are reasonably certain of being exercised. The Company currently considers its renewal options to be reasonably certain to be exercised. The Company does not have residual value guarantees or material restrictive covenants associated with its leases.

On January 14, 2021, the Company entered into the Campus Lease, a 12-year lease with two 5-year renewal options to house its corporate headquarters, lab and innovation space in El Segundo, California. The Company has not recognized an asset or a liability for the Campus Lease in its consolidated balance sheet as of April 2, 2022 because there was no lease commencement during the three months ended April 2, 2022. Therefore, the Campus Lease is not included in the tables below.

Lease costs for operating and finance leases were as follows:


		Three Months Ended
(in thousands)	Statement of Operations Location	April 2, 2022		April 3, 2021
Operating lease cost:
Lease cost	Cost of goods sold	$	611	$	539
Lease cost	Research and development expenses	514		148
Lease cost	Selling, general and administrative expenses	1,003		197
Variable lease cost(1)	Cost of goods sold	152		28
Operating lease cost		$	2,280	$	912

Short-term lease cost	Selling, general and administrative expenses	$	147	$	26

Finance lease cost:
Amortization of right-of use assets	Cost of goods sold	$	45	$	37
Interest on lease liabilities	Interest expense	24		5
Finance lease cost		$	69	$	42

Total lease cost(2)		$	2,496	$	980

____________

(1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.

(2) Excludes Campus Lease. See Note 10.

Supplemental balance sheet information as of April 2, 2022 and December 31, 2021 related to leases are as follows:


(in thousands)	Balance Sheet Location	April 2, 2022		December 31, 2021
Assets(1)
Operating leases	Operating lease right-of-use assets	$	25,692	$	26,815
Finance leases, net	Property, plant and equipment, net	570		615
Total lease assets		$	26,262	$	27,430

Liabilities(1)
Current:
Operating lease liabilities	Current portion of operating lease liabilities	$	4,454	$	4,458
Finance lease liabilities	Short-term finance lease liabilities	183		182
Long-term:
Operating lease liabilities	Operating lease liabilities, net of current portion	21,485		22,599
Finance lease liabilities	Finance lease obligations and other long-term liabilities	396		442
Total lease liabilities		$	26,518	$	27,681

___________

(1) Excludes Campus Lease. See Note 10.

The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of April 2, 2022:


	April 2, 2022
(in thousands)	Operating Leases(1)		Finance Leases
Remainder of 2022	$	4,148	$	145
2023	5,287		181
2024	3,542		146
2025	2,969		115
2026	2,831		10
Thereafter	12,983		—
Total undiscounted future minimum lease payments	31,760		597
Less imputed interest	(5,821)		(18)
Total discounted future minimum lease payments	$	25,939	$	579

___________

(1) Excludes Campus Lease. See Note 10.

Weighted average remaining lease terms and weighted average discount rates were:


	April 2, 2022
	Operating Leases(1)		Finance Leases
Weighted average remaining lease term (years)	8.3		3.4
Weighted average discount rate	4.5	%	2.3	%

___________

(1) Excludes Campus Lease. See Note 10.

Leases

Lease costs for operating and finance leases were as follows:


		Three Months Ended
(in thousands)	Statement of Operations Location	April 2, 2022		April 3, 2021
Operating lease cost:
Lease cost	Cost of goods sold	$	611	$	539
Lease cost	Research and development expenses	514		148
Lease cost	Selling, general and administrative expenses	1,003		197
Variable lease cost(1)	Cost of goods sold	152		28
Operating lease cost		$	2,280	$	912

Short-term lease cost	Selling, general and administrative expenses	$	147	$	26

Finance lease cost:
Amortization of right-of use assets	Cost of goods sold	$	45	$	37
Interest on lease liabilities	Interest expense	24		5
Finance lease cost		$	69	$	42

Total lease cost(2)		$	2,496	$	980

____________

(1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.

(2) Excludes Campus Lease. See Note 10.

Supplemental balance sheet information as of April 2, 2022 and December 31, 2021 related to leases are as follows:


(in thousands)	Balance Sheet Location	April 2, 2022		December 31, 2021
Assets(1)
Operating leases	Operating lease right-of-use assets	$	25,692	$	26,815
Finance leases, net	Property, plant and equipment, net	570		615
Total lease assets		$	26,262	$	27,430

Liabilities(1)
Current:
Operating lease liabilities	Current portion of operating lease liabilities	$	4,454	$	4,458
Finance lease liabilities	Short-term finance lease liabilities	183		182
Long-term:
Operating lease liabilities	Operating lease liabilities, net of current portion	21,485		22,599
Finance lease liabilities	Finance lease obligations and other long-term liabilities	396		442
Total lease liabilities		$	26,518	$	27,681

___________

(1) Excludes Campus Lease. See Note 10.

The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of April 2, 2022:


	April 2, 2022
(in thousands)	Operating Leases(1)		Finance Leases
Remainder of 2022	$	4,148	$	145
2023	5,287		181
2024	3,542		146
2025	2,969		115
2026	2,831		10
Thereafter	12,983		—
Total undiscounted future minimum lease payments	31,760		597
Less imputed interest	(5,821)		(18)
Total discounted future minimum lease payments	$	25,939	$	579

___________

(1) Excludes Campus Lease. See Note 10.

Weighted average remaining lease terms and weighted average discount rates were:


	April 2, 2022
	Operating Leases(1)		Finance Leases
Weighted average remaining lease term (years)	8.3		3.4
Weighted average discount rate	4.5	%	2.3	%

___________

(1) Excludes Campus Lease. See Note 10.

Inventories

3 Months Ended

Apr. 02, 2022

Inventory Disclosure [Abstract]

Inventories

Major classes of inventory were as follows:


(in thousands)	April 2, 2022		December 31, 2021
Raw materials and packaging	$	132,209	$	129,974
Work in process	65,310		50,227
Finished goods	86,235		61,669
Total	$	283,754	$	241,870

Property, Plant and Equipment

3 Months Ended

Apr. 02, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant, and equipment are stated at cost and finance lease assets are included. A summary of property, plant, and equipment as of April 2, 2022 and December 31, 2021, is as follows:


(in thousands)	April 2, 2022		December 31, 2021
Manufacturing equipment	$	125,489	$	115,412
Research and development equipment	16,861		16,837
Leasehold improvements	20,343		20,250
Building	22,819		22,937
Finance leases	867		867
Software	1,348		1,297
Furniture and fixtures	867		868
Vehicles	584		584
Land	5,407		5,434
Assets not yet placed in service	106,969		95,455
Total property, plant and equipment	$	301,554	$	279,941
Less: accumulated depreciation and amortization	60,165		53,452

Property, plant and equipment, net	$	241,389	$	226,489

Depreciation and amortization expense for the three months ended April 2, 2022 and April 3, 2021 was $7.1 million and $4.3 million, respectively. Of the total depreciation and amortization expense in the three months ended April 2, 2022 and April 3, 2021, $6.0 million and $3.4 million, respectively, were recorded in cost of goods sold, $1.0 million and $0.9 million, respectively, were recorded in research and development expenses, and $0.1 million and $0, respectively, were recorded in SG&A expenses in the Company’s condensed consolidated statements of operations.

The Company concluded that no property, plant and equipment met the criteria for assets held for sale as of April 2, 2022 and December 31, 2021. Previous amounts classified as assets held for sale were sold for amounts that approximated book value for which a note receivable of $3.8 million, net of payments received, had been recorded. The note receivable is included in “Other non-current assets, net” in the Company’s condensed consolidated balance sheet at April 2, 2022 and December 31, 2021.

Debt

3 Months Ended

Apr. 02, 2022

Debt Disclosure [Abstract]

Debt

The following is a summary of debt balances as of April 2, 2022 and December 31, 2021:


(in thousands)	April 2, 2022		December 31, 2021
Convertible senior notes	$	1,150,000	$	1,150,000




Debt issuance costs	(19,343)		(20,326)


Long-term debt	$	1,130,657	$	1,129,674

Convertible Senior Notes

On March 5, 2021, the Company issued $1.0 billion aggregate principal amount of its 0% Convertible Senior Notes due 2027 (the “Convertible Notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. On March 12, 2021, the initial purchasers of the Convertible Notes exercised their option to purchase an additional $150.0 million aggregate principal amount of the Company’s 0% Convertible Senior Notes due 2027 (the “Additional Notes,” and together with the Convertible Notes, the “Notes”), and such Additional Notes were issued on March 16, 2021.

The total amount of debt issuance costs of $23.6 million was recorded as a reduction to “Convertible senior notes, net” in the condensed consolidated balance sheet and are being amortized as interest expense over the term of the Notes using the effective interest method. During the three months ended April 2, 2022 and April 3, 2021, the Company recognized $1.0 million and $0.3 million, respectively, in interest expense related to the amortization of the debt issuance costs related to the Notes.

The following is a summary of the Company’s Notes as of April 2, 2022:

(in thousands)

Principal Amount

Unamortized Issuance Costs

Net Carrying Amount

Fair Value

Amount

Leveling

0% Convertible senior notes due on March 15, 2027

$1,150,000

$19,343

$1,130,657

$688,563

Level 2

The Notes are carried at face value less the unamortized debt issuance costs on the Company’s condensed consolidated balance sheets. As of April 2, 2022, the estimated fair value of the Notes was approximately $0.7 billion. The Notes are quoted on the Intercontinental Exchange and are classified as Level 2 financial instruments. The estimated fair value of the Notes was determined based on the actual bid price of the Notes on April 1, 2022, the last business day of the period.

As of April 2, 2022, the remaining life of the Notes is approximately 5.0 years.

Revolving Credit Facility

On March 2, 2021, the Company terminated its secured revolving credit agreement, dated as of April 21, 2020 (the “Credit Agreement”).

The Company recorded debt issuance costs on the revolving credit facility in “Prepaid and other non-current assets, net” in the accompanying condensed consolidated balance sheet. Debt issuance costs associated with the revolving credit facility were amortized as interest expense over the term of the loan for which amortization of $0 and $40,800, respectively, was recorded during the three months ended April 2, 2022 and April 3, 2021.

In the three months ended April 2, 2022 and April 3, 2021, the Company incurred $0 and $0.3 million, respectively, in interest expense related to its bank credit facilities.

Upon termination of the revolving credit facility, unamortized debt issuance costs of $1.0 million associated with the revolving credit facility were written off as “Loss on extinguishment of debt,” which is included in “Other, net” in the condensed consolidated statement of operations.

Concurrent with the Company’s execution of the Campus Lease, as a security deposit, the Company delivered to the landlord a letter of credit under the revolving credit facility in the amount of $12.5 million. Upon termination of the revolving credit facility, the letter of credit continued in effect, unsecured.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Stockholders’ Equity	3 Months Ended
Stockholders’ Equity	Apr. 02, 2022
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity As of April 2, 2022, the Company’s shares consisted of 500,000,000 authorized shares of common stock, par value $0.0001 per share, of which 63,525,399 shares of common stock were issued and outstanding, and 500,000 authorized shares of preferred stock, par value $0.0001 per share, of which no shares were issued and outstanding. As of December 31, 2021, the Company’s shares consisted of 500,000,000 authorized shares of common stock, par value $0.0001 per share, of which 63,400,899 shares were issued and outstanding, and 500,000 authorized shares of preferred stock, par value $0.0001 per share, of which no shares were issued and outstanding. The Company has not declared or paid any dividends, or authorized or made any distribution upon or with respect to any class or series of its capital stock.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Share-Based Compensation

3 Months Ended

Apr. 02, 2022

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

In 2019, the Company’s 2011 Equity Incentive Plan (“2011 Plan”) was amended, restated and re-named the 2018 Equity Incentive Plan (the “2018 Plan”), and the remaining shares available for issuance under the 2011 Plan were added to the shares reserved for issuance under the 2018 Plan. As of January 1, 2022, the maximum aggregate number of shares that may be issued under the 2018 Plan increased to 20,915,919 shares, which includes an increase of 2,144,521 shares effective January 1, 2022 under the terms of the 2018 Plan.

The following table summarizes the shares available for grant under the 2018 Plan:


			Shares Available for Grant
Balance - December 31, 2021			6,515,807
Authorized			2,144,521
Granted			(966,978)
Shares withheld to cover taxes			9,917
Forfeited			37,704
Balance - April 2, 2022			7,740,971

As of April 2, 2022 and December 31, 2021, there were 4,407,683 and 3,956,364 shares, respectively, issuable under stock options outstanding, 948,684 and 608,175 shares, respectively, issuable under unvested RSUs outstanding, 7,869,381 and 7,730,884 shares, respectively, issued for stock option exercises, RSU settlement, and restricted stock grants, and 7,740,971 and 6,515,807 shares, respectively, available for grants under the 2018 Plan.

Stock Options

Following are the assumptions used in the Black-Scholes valuation model for options granted during the periods shown below:


	Three Months Ended
	April 2, 2022	April 3, 2021
Risk-free interest rate	1.7%	1.3%
Average expected term (years)	7.0	7.0
Expected volatility	55.0%	72.6%
Dividend yield	—	—

Option grants to new employees in the three months ended April 2, 2022 and April 3, 2021 generally vest 25% of the total award on the first anniversary of the vesting commencement date, and thereafter ratably vesting monthly over the remaining 3-year period, subject to continued employment through the vesting date. Option grants to continuing employees in the three months ended April 2, 2022 generally vest 25% of the total award on the first anniversary of the vesting commencement date, and thereafter ratably vesting monthly over the remaining 3-year period, subject to continued employment through the vesting date. Option grants to continuing employees in the three months ended April 3, 2021 generally vest monthly over a 48-month period, subject to continued employment through the vesting date. Option grant to one executive officer in the three months ended April 3, 2021 vested over three months from the vesting commencement date.

The following table summarizes the Company’s stock option activity during the three months ended April 2, 2022:


	Number of Stock Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (in thousands)(1)
Outstanding at December 31, 2021	3,956,364	$	27.04	5.9	$	180,302
Granted	563,286	$	47.42	—	$	—
Exercised	(95,784)	$	8.48	—	$	4,205
Cancelled/Forfeited	(16,183)	$	92.71	—	$	—
Outstanding at April 2, 2022	4,407,683	$	29.81	6.2	$	126,043
Vested and exercisable at April 2, 2022	2,959,174	$	15.54	4.8	$	115,943
Vested and expected to vest at April 2, 2022	4,095,831	$	26.52	5.9	$	125,425

__________

(1) Aggregate intrinsic value is calculated as the difference between the value of common stock on the transaction date and the exercise price multiplied by the number of shares issuable under the stock option. Aggregate intrinsic value of shares outstanding at the beginning and end of the reporting period is calculated as the difference between the value of common stock on the beginning and end dates, respectively, and the exercise price multiplied by the number of shares outstanding.

During the three months ended April 2, 2022 and April 3, 2021, the Company recorded in aggregate $4.1 million and $3.4 million, respectively, of share-based compensation expense related to options. The share-based compensation expense is included in cost of goods sold, research and development expenses and SG&A expenses in the Company’s condensed consolidated statements of operations.

As of April 2, 2022, there was $32.5 million in unrecognized compensation expense related to nonvested stock option awards which is expected to be recognized over a weighted average period of 1.6 years.

Restricted Stock Units

RSU grants to new and continuing employees in the three months ended April 2, 2022 generally vest 25% of the total award on the first anniversary of the vesting commencement date, and thereafter vest quarterly over the remaining 3 years of the award, subject to continued employment through the vesting date. Some of the RSU grants to continuing employees in the three months ended April 2, 2022 vest 50% of the total award on the first anniversary of the vesting commencement date, and thereafter vest quarterly over the remaining 4 quarters of the award, subject to continued employment through the vesting date. RSU awards to nonemployee ambassadors in the three months ended April 2, 2022 vest on varying dates, subject to continued service through the vesting date.

RSU grants to new employees in the three months ended April 3, 2021 vest 25% of the total award on the first anniversary of the vesting commencement date, and thereafter vest quarterly over the remaining 3 years of the award, subject to continued employment through the vesting date. RSU grants to continuing employees in the three months ended April 3, 2021 generally vest quarterly over 16 quarters, subject to continued employment through the vesting date. RSU grants in the three months ended April 3, 2021 include fully vested RSUs granted to an executive officer issued in settlement of the obligation discussed below under Share-Settled Obligation. RSU grant to one executive officer in the three months ended April 3, 2021 vested 100% over three months from the vesting commencement date. There were no RSU grants to nonemployee ambassadors in the three months ended April 3, 2021.

The following table summarizes the Company’s RSU activity during the three months ended April 2, 2022:


	Number of Units	Weighted Average Grant Date Fair Value Per Unit
Unvested at December 31, 2021	608,175	$	89
Granted	403,692	$	48.11
Vested(1)	(41,709)	$	99.29
Cancelled/Forfeited	(21,474)	$	100.15
Unvested at April 2, 2022	948,684	$	70.75

________

(1) Includes 9,917 shares of common stock that were withheld to cover taxes on the release of vested RSUs and became available for future grants pursuant to the 2018 Plan.

During the three months ended April 2, 2022 and April 3, 2021, the Company recorded in aggregate $5.2 million and $2.9 million, respectively, of share-based compensation expense related to RSUs. The share-based compensation expense is included in cost of goods sold, research and development expenses and SG&A expenses in the Company’s condensed consolidated statements of operations.

As of April 2, 2022, there was $33.3 million in unrecognized compensation expense related to unvested RSUs which is expected to be recognized over a weighted average period of 1.5 years.

Share-Settled Obligation

Share-based compensation expense in the three months ended April 2, 2022 and April 3, 2021 includes $0 and $0.8 million, respectively, for a liability classified, share-settled obligation to an executive officer related to a sign-on award pursuant to the terms of the executive officer’s offer letter with the Company. The share-based compensation expense related to this share-settled obligation is included in SG&A expenses in the Company’s condensed consolidated statements of operations. Financing activities in the statement of cash flows for the three months ended April 2, 2022 and April 3, 2021 includes $0 and $0.8 million, respectively, noncash reclassification of the share-settled obligation from “Other current liabilities” to “Additional paid-in capital.”

In the first quarter of 2021, a quarterly tranche related to this obligation was earned, and the Company delivered to this executive officer 6,066 fully vested RSUs with a settlement date fair value of $0.8 million.

Restricted Stock to Nonemployees

As of April 2, 2022, no shares of restricted stock had been issued to nonemployee brand ambassadors.

During the three months ended April 2, 2022 and April 3, 2021, the Company recorded in aggregate $0 and $0.2 million, respectively, of share-based compensation expense related to restricted stock issued to nonemployee brand ambassadors, which is included in SG&A expenses in the Company’s condensed consolidated statements of operations.

Employee Stock Purchase Plan

As of April 2, 2022, the maximum aggregate number of shares that may be issued under the 2018 Employee Stock Purchase Plan (“ESPP”) was 2,412,585 shares of common stock, including an increase of 536,130 shares effective January 1, 2022 under the terms of the ESPP. The ESPP is expected to be implemented through a series of offerings under which participants are granted purchase rights to purchase shares of the Company’s common stock on specified dates during such offerings. The administrator has not yet approved an offering under the ESPP.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Apr. 02, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases See Note 4, Leases. On January 14, 2021, the Company entered into the Campus Lease with HC Hornet Way, LLC, a Delaware limited liability company (the “Landlord”), to house the Company’s lab and innovation space and headquarters offices in El Segundo, California. In the three months ended April 2, 2022, the Company paid $0.3 million in payments towards common area maintenance, parking, and insurance. No such payments were made in the three months ended April 3, 2021. Although the Company is involved in the design of the tenant improvements of the Premises, the Company does not have title or possession of the assets during construction. In addition, the Company does not have the ability to control the leased Premises until each phase of the tenant improvements is complete. As of April 2, 2022, the tenant improvements associated with Phase 1-A had not been completed, and the underlying asset had not been delivered to the Company. Accordingly, there was no lease commencement during the three months ended April 2, 2022. Therefore, the Company has not recognized an asset or a liability for the Campus Lease in its condensed consolidated balance sheets as of April 2, 2022 and December 31, 2021. The Company contributed $37.0 million and $59.2 million in payments to a construction escrow account in the three months ended April 2, 2022 and the year ended December 31, 2021, respectively. These payments are recorded in “Prepaid lease costs, non-current” in the Company’s condensed consolidated balance sheets as of April 2, 2022 and December 31, 2021, respectively, which will ultimately be recorded as a component of a right-of-use asset upon lease commencement. Concurrent with the Company’s execution of the Campus Lease, as a security deposit, the Company delivered to the Landlord a letter of credit in the amount of $12.5 million which amount will decrease to: (i) $6.3 million on the fifth (5th) anniversary of the Rent Commencement Date (as defined in the Campus Lease); (ii) $3.1 million on the eighth (8th) anniversary of the Rent Commencement Date; and (iii) $0 in the event the Company receives certain credit ratings; provided the Company is not then in default of its obligations under the Campus Lease. Upon termination of the revolving credit facility, the letter of credit continued in effect, unsecured. China Investment and Lease Agreement On September 22, 2020, the Company and its wholly-owned subsidiary, Beyond Meat (Jiaxing) Food Co., Ltd. (“BYND JX”), entered into an investment agreement with the Administrative Committee (the “JX Committee”) of the Jiaxing Economic & Technological Development Zone (the “JXEDZ”) pursuant to which, among other things, BYND JX has agreed to make certain investments in the JXEDZ in two phases of development, and the Company has agreed to guarantee certain repayment obligations of BYND JX under such agreement. During Phase 1, the Company had agreed to invest $10.0 million in the JXEDZ through an intercompany investment in BYND JX and BYND JX has agreed to lease a facility in the JXEDZ for a minimum of two years. In connection with such agreement, BYND JX entered into a factory leasing contract with an affiliate of the JX Committee, pursuant to which BYND JX has agreed to lease and renovate a facility in the JXEDZ and lease it for a minimum of two years. In the event that the Company and BYND JX determine, in their sole discretion, to proceed with the Phase 2 development in the JXEDZ, BYND JX has agreed in the first stage of Phase 2 to increase its registered capital by $30.0 million and to acquire the land use right to a state-owned land plot in the JXEDZ to conduct development and construction of a new production facility. Following the first stage of Phase 2, the Company and BYND JX may determine, in their sole discretion, to permit BYND JX to obtain a second state-owned land plot in the JXEDZ in order to construct an additional facility thereon. The Planet Partnership On January 25, 2021, the Company entered into TPP, a joint venture with PepsiCo, Inc., to develop, produce and market innovative snack and beverage products made from plant-based protein. For the three months ended April 2, 2022 and April 3, 2021, the Company recognized its share of the net losses in TPP, in the amount of $0.7 million and $0.4 million, respectively. See Note 2. Purchase Commitments As of April 2, 2022, the Company had committed to purchase pea protein inventory totaling $34.6 million in 2022. Litigation Don Lee Farms On May 25, 2017, Don Lee Farms, a division of Goodman Food Products, Inc., filed a complaint against the Company in the Superior Court of the State of California for the County of Los Angeles asserting claims for breach of contract, misappropriation of trade secrets, unfair competition under the California Business and Professions Code, money owed and due, declaratory relief and injunctive relief, each arising out of the Company’s decision to terminate an exclusive supply agreement between the Company and Don Lee Farms. The Company denied all of these claims and filed counterclaims on July 27, 2017, alleging breach of contract, unfair competition under the California Business and Professions Code and conversion. In October 2018, the former co-manufacturer filed an amended complaint that added one of the Company’s then current contract manufacturers as a defendant, principally for claims arising from the then current contract manufacturer’s alleged use of the former co-manufacturer’s alleged trade secrets, and for replacing the former co-manufacturer as one of the Company’s co-manufacturers. The then current contract manufacturer filed an answer denying all of Don Lee Farms’ claims and a cross-complaint against Beyond Meat asserting claims of total and partial equitable indemnity, contribution, and repayment. On March 11, 2019, Don Lee Farms filed a second amended complaint to add claims of fraud and negligent misrepresentation against the Company. On May 30, 2019, the judge denied the Company’s motion to dismiss the fraud and negligent misrepresentation claims, allowing the claims to proceed. On June 19, 2019, the Company filed an answer denying Don Lee Farms' claims. On January 24, 2020, a writ judge granted Don Lee Farms a right to attach in the amount of $628,689 on the grounds that Don Lee Farms had established a “probable validity” of its claim that Beyond Meat owes Don Lee Farms money for a small batch of unpaid invoices. This determination was not made by the trial judge. On January 27, 2020, Don Lee Farms filed a third amended complaint to add three individual defendants, all of whom are current or former employees of the Company, including Mark Nelson, the Company’s former Chief Financial Officer and Treasurer, to Don Lee Farms’ existing fraud claims alleging that those individuals were involved in the alleged fraudulent misrepresentations. On June 23, 2020, the judge denied Beyond Meat and the individual defendants’ motion to dismiss the fraud and negligent misrepresentation claims, allowing the claims to proceed. On July 6, 2020, the Company and the individual defendants filed an answer denying all of Don Lee Farms’ claims, including denying all allegations of fraud and negligent misrepresentation. On August 11, 2020, the Company filed an amended cross-complaint against Don Lee Farms, its parent Goodman Food Products, Inc. and its owners and employees, Donald, Daniel, and Brandon Goodman. Among other claims, the amended cross-complaint alleges that Don Lee Farms defrauded Beyond Meat, misappropriated its trade secrets, and infringed its trademarks. On January 28, 2021, Don Lee Farms filed a motion for summary adjudication on its breach of contract and money owed claims and on Beyond Meat’s breach of contract claims. On February 18, 2021, Don Lee Farms and Donald, Daniel and Brandon Goodman filed a motion for summary adjudication on Beyond Meat’s fraud, negligent misrepresentation, and conversion claims. On February 16, 2021, the Court entered an order consolidating this action with an action that Don Lee Farms filed against CLW Foods, LLC, a current Beyond Meat contract manufacturer. On February 22, 2021, CLW Foods, LLC requested a continuance of the trial date, which the Court granted. On March 19, 2021, Don Lee Farms requested the dismissal, without prejudice, of Don Lee Farms’ claims against the Company’s former contract manufacturer, ProPortion Foods, LLC and current contract manufacturer CLW Foods, LLC. On, March 23, 2021, ProPortion Foods, LLC requested that its claims against the Company be dismissed without prejudice. On March 26, 2021, the Court granted Don Lee Farms’ request to dismiss its claims against ProPortion Foods, LLC and CLW Foods, LLC; and granted ProPortion Foods, LLC request to dismiss its claims against the Company. On May 7, 2021, the Court ruled on Don Lee Farms’ motions for summary adjudication. The Court granted Don Lee Farms’ motion for summary adjudication on its breach of contract and money owed claims, and Beyond Meat’s negligent misrepresentation and conversion claims. The Court denied Don Lee Farms’ motion for summary adjudication on Beyond Meat’s breach of contract and fraud claims, allowing Beyond Meat’s claims to proceed to trial. On June 11, 2021, former Beyond Meat employees Mark Nelson and Tony Miller, and current employee, Jessica Quetsch (collectively, the “individual defendants”), filed a motion for summary adjudication on Don Lee Farms’ fraud claim asserted against them. On June 11, 2021, the Company filed a motion for summary adjudication on Don Lee Farms’ fraud and negligent misrepresentation claims, misappropriation of trade secret claim, and unfair competition claim under the California Business and Professions Code. On August 27, 2021, the Court ruled on the individual defendants’ and the Company’s motions for summary adjudication. The Court denied the individual defendants’ motion for summary adjudication. The Court also denied the Company’s motion for summary adjudication on Don Lee Farms’ fraud and negligent misrepresentation claims. The Court granted the Company’s motion for summary adjudication on Don Lee Farms’ trade secret misappropriation and unfair competition claims. Don Lee Farms’ trade secret misappropriation and unfair competition claims will not proceed to trial. On January 27, 2022, Don Lee Farms filed a motion for summary adjudication on Beyond Meat’s trade secret misappropriation claim. On April 19, 2022, the Court denied Don Lee Farms motion for summary adjudication on Beyond Meat’s trade secret misappropriation claim. Beyond Meat’s trade secret misappropriation claim will proceed to trial. The previous trial date, May 16, 2022, was continued. Trial is currently set for September 26, 2022. Don Lee Farms is seeking from Beyond Meat and the individual defendants unspecified compensatory and punitive damages, declaratory and injunctive relief, and attorneys’ fees and costs. The Company is seeking from Don Lee Farms monetary damages, restitution of monies paid to Don Lee Farms, injunctive relief, including the prohibition of Don Lee Farms’ use or disclosure of Beyond Meat’s trade secrets and the prohibition of Don Lee Farms’ infringing use of Beyond Meat’s trademarks, and attorneys’ fees and costs. The Company believes it was justified in terminating the supply agreement with Don Lee Farms, that the Company is not liable for the fraud or negligent misrepresentation alleged in the third amended complaint, and that Don Lee Farms is liable for the conduct alleged in the Company’s amended cross-complaint. Conversely, as alleged in the Company’s amended cross-complaint, the Company believes Don Lee Farms misappropriated the Company’s trade secrets, defrauded the Company, and ultimately has infringed the Company’s trademarks. The Company is currently in the process of litigating this matter and intends to vigorously defend itself and its current and former employees against the claims and to prosecute the Company’s own claims. The Company cannot provide assurance that Don Lee Farms will not prevail in all or some of their claims against the Company or the individual defendants, or that the Company will prevail in some or all of its claims against Don Lee Farms. For example, if Don Lee Farms succeeds in the lawsuit, the Company could be required to pay damages, including but not limited to contract damages reasonably calculated at what the Company would have paid Don Lee Farms to produce the Company’s products through 2019, the end of the contract term. Based on the Company’s current knowledge, the Company has determined that the amount of any material loss or range of any losses that is reasonably possible to result from this lawsuit is not estimable. Securities Related Litigation On January 30, 2020, Larry Tran, a purported shareholder of Beyond Meat, filed a putative securities class action lawsuit in the United States District Court for the Central District of California against Beyond Meat and two of the Company’s executive officers, the Company’s President and CEO, Ethan Brown, and the Company’s former Chief Financial Officer and Treasurer, Mark Nelson. As noted here and in previous filings, the Tran securities class action was dismissed with prejudice on October 27, 2020, except for the class allegations of absent putative class members, which were dismissed without prejudice. On March 16, 2020, Eric Weiner, a purported shareholder of Beyond Meat, filed a shareholder derivative lawsuit in the United States District Court for the Central District of California, putatively on behalf of the Company, against two of the Company’s executive officers, the Company’s President and CEO, Ethan Brown, and the Company’s former Chief Financial Officer and Treasurer, Mark Nelson, and each of the Company’s directors, including one former director, who signed the Company’s initial public offering registration statement. The lawsuit asserts claims under Sections 10(b) and 21D of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), claims of breaches of fiduciary duty as directors and/or officers of Beyond Meat, and claims of unjust enrichment and waste of corporate assets, all relating to the Company’s ongoing litigation with Don Lee Farms, related actions taken by Beyond Meat and the named individuals during the period of May 2, 2019 to March 16, 2020, and the Tran securities case brought against the Company. On March 18, 2020, Kimberly Brink and Melvyn Klein, purported shareholders of Beyond Meat, filed a shareholder derivative lawsuit in the United States District Court for the Central District of California, putatively on behalf of the Company, against two of the Company’s executive officers, the Company’s President and CEO, Ethan Brown, and the Company’s former Chief Financial Officer and Treasurer, Mark Nelson, and each of the Company’s directors, including one former director, who signed the Company’s initial public offering registration statement. The lawsuit asserts claims under Sections 10(b) and 21D of the Exchange Act, claims of breaches of fiduciary duty as directors and/or officers of Beyond Meat, and claims of unjust enrichment and waste of corporate assets, all relating to the Company’s ongoing litigation with Don Lee Farms, related actions taken by Beyond Meat and the named individuals during the period of May 2, 2019 to March 18, 2020, and the Tran securities case brought against the Company. On May 27, 2020, Kevin Chew, a purported shareholder of Beyond Meat, filed a shareholder derivative lawsuit in the United States District Court of the District of Delaware (the “Chew Derivative Action”), putatively on behalf of the Company, against two of the Company’s executive officers, the Company’s President and CEO, Ethan Brown, and the Company’s former Chief Financial Officer and Treasurer, Mark Nelson, and each of the Company’s directors, including one former director, who signed the Company’s initial public offering registration statement. The lawsuit asserts claims under Sections 10(b) and 21D of the Exchange Act and claims of breaches of fiduciary duty, relating to the Company’s ongoing litigation with Don Lee Farms, related actions taken by Beyond Meat and the named individuals during the period of May 2, 2019 to May 27, 2020. On June 16, 2020, the Court entered an order staying all proceedings in the derivative action until (1) the Tran securities class action is dismissed, with prejudice, and all appeals related thereto have been exhausted; or (2) any motion to dismiss the Tran securities class action is denied in whole or in part. On June 17, 2020, the Court entered an order administratively closing the derivative case based on the stay order. On July 29, 2021, the Court entered a Joint Stipulation to Continue the Stay of the Action, staying the case until the resolution of the California Derivative Action. On April 1, 2020, the United States District Court for the Central District of California entered an order consolidating the Weiner action and the Brink/Klein action for all purposes and designated the consolidated case In re: Beyond Meat, Inc. Derivative Litigation (the “California Derivative Action”). On April 13, 2020, the Court entered an order appointing co-lead counsel for the California Derivative Action. On June 23, 2020, the Court entered an order approving a Joint Stipulation Regarding Stay of Actions. Under the terms of the stay approval order, all proceedings in the California Derivative Action are stayed until (1) the Tran securities class action is dismissed, with prejudice, and all appeals related thereto have been exhausted; or (2) any motion to dismiss the Tran securities class action is denied in whole or in part. As noted herein and in previous filings, the Tran securities class action was dismissed with prejudice on October 27, 2020, except for the class allegations of absent putative class members, which were dismissed without prejudice. On April 20, 2021, the parties filed a joint stipulation regarding briefing schedule, and the Court entered a schedule on April 21, 2021. On May 24, 2021, the plaintiffs in the California Derivative Action filed a First Amended Complaint (“FAC”). The FAC names the same defendants named in the originally-filed consolidated complaint and adds four additional defendants, including ProPortion Foods, LLC (“ProPortion”) and CLW Foods, LLC (“CLW”). The FAC asserts claims under Section 14(a) of the Exchange Act, claims of breach of fiduciary duty, unjust enrichment, waste of corporate assets, abuse of control and gross mismanagement against the individual defendants, and aiding and abetting claims against CLW and ProPortion. All of these claims relate to the Company’s dealings and ongoing litigation with Don Lee Farms, and related actions taken by Beyond Meat and the named individuals during the period of April 2016 to the present. On July 2, 2021, the Court entered a Joint Stipulation Regarding Extension of Briefing Schedule so that the parties could attempt to reach resolution of the lawsuit. The parties have reached a settlement of the California and Chew Derivative Actions. The proposed settlement, which is subject to final Court approval, includes the Company enacting certain corporate governance reforms and paying plaintiffs’ attorney fees and costs in the amount of $515,000, which amount has been accrued as of April 2, 2022 and December 31, 2021. No other payment is contemplated in the proposed settlement. On October 1, 2021, the parties filed a Joint Report Regarding Settlement in the Central District of California stating that the parties reached a tentative settlement and requesting that the Court (i) vacate the briefing schedule for Defendants’ motion to dismiss, and (ii) issue an order setting November 19, 2021 as the deadline on or before which Plaintiffs must move for preliminary approval of the settlement. On October 4, 2021, the Court entered such an order. The parties requested and received another extension to January 14, 2022 for Plaintiffs to file a motion for preliminary approval. The Stipulation of Settlement was signed on January 14, 2022, and Plaintiffs filed a motion for preliminary approval that same day. On February 8, 2022, the Court entered a Scheduling Notice and Order finding that Plaintiffs’ motion for preliminary approval is appropriate for submission on the papers without oral argument. On March 31, 2022, the Court entered an order preliminarily approving the Stipulation of Settlement. On April 8, 2022, the Company published notice of the preliminary approval and the proposed settlement in accordance with the Stipulation of Settlement. On April 18, 2022, the Company paid to escrow the $515,000 for Plaintiffs’ attorneys’ fees and costs and on April 19, 2022, the Company filed proof of notice with the Court. Plaintiffs’ motion for final approval is due on June 13, 2022, objections to the proposed settlement are due on June 20, 2022, plaintiffs’ reply in support of final approval is due on July 1, 2022, and the Final Approval Hearing is scheduled for July 11, 2022. Interbev On March 13, 2022, the Company was served a summons by Interbev, a French trade association representing the cattle industry, to appear before the Commercial Court of Paris. The summons alleges that the Company misleads the French consumer with references to “plant based meat,” “plant based burger” and related descriptive names, and alleges that the Company is denigrating meat and meat products. The relief sought by Interbev includes (i) changing the presentation of Beyond Meat products to avoid any potential confusion with meat products, (ii) publication of the judgment of the court in the media and (iii) damages of EUR 200,000. The Company intends to vigorously defend against all claims asserted in the summons. The Company is involved in various other legal proceedings, claims, and litigation arising in the ordinary course of business. Based on the facts currently available, the Company does not believe that the disposition of such matters that are pending or asserted will have a material effect on its financial statements.

Income Taxes	3 Months Ended
Income Taxes	Apr. 02, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended April 2, 2022 and April 3, 2021, the Company recorded $10,000 and $48,000 in income tax expense, respectively, in its condensed consolidated statements of operations. The Company has evaluated the available evidence supporting the realization of its deferred tax assets, including the amount and timing of future taxable income, and has determined that it is more likely than not that its net deferred tax assets will not be realized in the U.S. Due to uncertainties surrounding the realization of the deferred tax assets, the Company maintains a full valuation allowance against substantially all deferred tax assets. If the Company determines that it will be able to realize some portion or all of its deferred tax assets, an adjustment to its valuation allowance on its deferred tax assets will be made and the adjustment would have the effect of increasing net income in the period such determination is made. As of April 2, 2022, the Company did not have any accrued interest or penalties related to uncertain tax positions. The Company’s policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. The Company is subject to U.S. federal tax authority and U.S. state tax authority examinations for all years with respect to net operating loss and credit carryforwards. In response to the COVID-19 pandemic, the United States passed the Coronavirus Aid, Relief, and Economic Security Act in March 2020 and on March 11, 2021 the United States enacted the American Rescue Plan Act of 2021. These Acts include various income and payroll tax measures. The income tax and payroll tax measures did not materially impact the Company’s financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Net Loss Per Share Available to Common Stockholders

3 Months Ended

Apr. 02, 2022

Earnings Per Share [Abstract]

Net Loss Per Share Available to Common Stockholders

The Company calculates basic and diluted net loss per share available to common stockholders in conformity with the two-class method required for companies with participating securities. Pursuant to Accounting Standards Update 2020-06, the Company applies the more dilutive of the if-converted method and the two-class method to its Notes.

Computation of net loss per share available to common stockholders for the three months ended April 2, 2022 excludes the dilutive effect of 4,407,683 shares issuable under stock options and 948,684 RSUs outstanding at April 2, 2022 because the Company incurred a net loss and their inclusion would be anti-dilutive. Computation of net loss per share available to common stockholders for the three months ended April 2, 2022 also excludes the dilutive effect of the Notes because the Company recorded a net loss and their inclusion would be anti-dilutive. Computation of net loss per share available to common stockholders for the three months ended April 3, 2021 excludes the dilutive effect of 4,097,076 shares issuable under stock options and 294,296 RSUs outstanding at April 3, 2021 because their inclusion would be anti-dilutive. Computation of net loss per share available to common stockholders for the three months ended April 3, 2021 also excludes the dilutive effect of shares of common stock that were issuable to an officer in settlement of an obligation to deliver a variable number of shares based on a fixed monetary amount (see Note 9) because the shares to be delivered were not participating securities as they did not have voting rights and were not entitled to participate in dividends until they are issued.


(in thousands, except share and per share amounts)	Three Months Ended
	April 2, 2022		April 3, 2021
Numerator:
Net loss available to common stockholders	$	(100,458)	$	(27,266)

Net loss available to common stockholders—basic	(100,458)		(27,266)
Denominator:
Weighted average common shares outstanding—basic	63,465,205		62,941,748
Dilutive effect of shares issuable under stock options	—		—
Dilutive effect of RSUs	—		—
Dilutive effect of share-settled obligation	—		—
Dilutive effect of Notes, if converted(1)	—		—
Weighted average common shares outstanding—diluted	63,465,205		62,941,748
Net loss per share available to common stockholders—basic	$	(1.58)	$	(0.43)
Net loss per share available to common stockholders—diluted	$	(1.58)	$	(0.43)

__________

(1) As the Company recorded a net loss for the three months ended April 2, 2022 and April 3, 2021, inclusion of shares from the conversion premium or spread would be anti-dilutive. The Company had $1.2 billion in Notes outstanding as of April 2, 2022.

Related Party Transactions	3 Months Ended
Related Party Transactions	Apr. 02, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsIn connection with the Company’s investment in TPP, a joint venture with PepsiCo, Inc., the Company sells certain products directly to the joint venture. Net revenues earned for products sold to TPP included in U.S. retail channel net revenues were $10.7 million and $0 for the three months ended April 2, 2022 and April 3, 2021, respectively. Accounts receivable from TPP was $6.0 million and $0 at April 2, 2022 and December 31, 2021, respectively.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Apr. 02, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of the Company’s financial position and of the results of operations and cash flows for the periods presented. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2022 or for any other interim period or for any other future fiscal year. These condensed consolidated financial statements should be read in conjunction with the Company's audited financial statements and notes thereto included in the 2021 10-K. The condensed consolidated balance sheet as of December 31, 2021 has been derived from the audited financial statements at that date.
Principles of Consolidation	Principles of ConsolidationThe unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated.
Management’s Use of Estimates	Management’s Use of EstimatesThe preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates made by the Company include trade promotion accruals; useful lives of property, plant and equipment; valuation of deferred tax assets; valuation of inventory; incremental borrowing rate used to determine operating lease right-of-use assets and operating lease liabilities; assessment of contract-based factors, asset-based factors, entity-based factors and market-based factors to determine the lease term impacting right-of-use assets and lease liabilities; the valuation of the fair value of stock options used to determine share-based compensation expense; and loss contingency accruals in connection with claims, lawsuits and administrative proceedings. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results could differ from those estimates and such differences may be material to the financial statements.
Foreign Currency	Foreign Currency Foreign currency translation losses, net of tax, reported as cumulative translation adjustments through “Other comprehensive loss” were $0.7 million and $1.3 million for the three months ended April 2, 2022 and April 3, 2021, respectively. Realized and unrealized foreign currency transaction losses, net included in “Other, net” were $1.1 million and $0.3 million during the three months ended April 2, 2022 and April 3, 2021, respectively.
Revenue Recognition/ Shipping and Handling Costs	Revenue Recognition At the end of each accounting period, the Company recognizes a contra asset to accounts receivable for estimated sales discounts that have been incurred but not paid which totaled $4.3 million and $3.6 million as of April 2, 2022 and December 31, 2021, respectively. The offsetting charge is recorded as a reduction of revenues in the same period when the expense is incurred. Shipping and Handling CostsOutbound shipping and handling costs included in selling, general and administrative (“SG&A”) expenses
Investment in Joint Venture	Investment in Joint Venture The Company uses the equity method of accounting to record transactions associated with its joint venture when the Company shares in joint control of the investee. Investment in joint venture is not consolidated but is recorded in “Investment in unconsolidated joint venture” in the Company’s condensed consolidated balance sheets. The Company recognizes its portion of the investee’s results in “Equity in losses of unconsolidated joint venture” in its condensed consolidated statements of operations. The Company eliminates its proportionate interest in any intra-entity profits or losses in the inventory of the investee at the end of the reporting period and recognizes its portion of the profit and losses when realized by the investee.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements None.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

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+ Details

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Apr. 02, 2022

Accounting Policies [Abstract]

Schedule of disaggregation of revenue

The following table presents the Company’s net revenues by channel:


	Three Months Ended
(in thousands)	April 2, 2022		April 3, 2021
U.S.:
Retail	$	68,260	$	63,826
Foodservice	15,493		16,742
U.S. net revenues	83,753		80,568
International:
Retail	16,137		17,199
Foodservice	9,565		10,397
International net revenues	25,702		27,596
Net revenues	$	109,455	$	108,164

Leases (Tables)

3 Months Ended

Apr. 02, 2022

Leases [Abstract]

Components of lease and supplemental cash flow information

Lease costs for operating and finance leases were as follows:


		Three Months Ended
(in thousands)	Statement of Operations Location	April 2, 2022		April 3, 2021
Operating lease cost:
Lease cost	Cost of goods sold	$	611	$	539
Lease cost	Research and development expenses	514		148
Lease cost	Selling, general and administrative expenses	1,003		197
Variable lease cost(1)	Cost of goods sold	152		28
Operating lease cost		$	2,280	$	912

Short-term lease cost	Selling, general and administrative expenses	$	147	$	26

Finance lease cost:
Amortization of right-of use assets	Cost of goods sold	$	45	$	37
Interest on lease liabilities	Interest expense	24		5
Finance lease cost		$	69	$	42

Total lease cost(2)		$	2,496	$	980

____________

(1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.

(2) Excludes Campus Lease. See Note 10.

Weighted average remaining lease terms and weighted average discount rates were:


	April 2, 2022
	Operating Leases(1)		Finance Leases
Weighted average remaining lease term (years)	8.3		3.4
Weighted average discount rate	4.5	%	2.3	%

___________

(1) Excludes Campus Lease. See Note 10.

Schedule of assets and liabilities related to operating and finance leases

Supplemental balance sheet information as of April 2, 2022 and December 31, 2021 related to leases are as follows:


(in thousands)	Balance Sheet Location	April 2, 2022		December 31, 2021
Assets(1)
Operating leases	Operating lease right-of-use assets	$	25,692	$	26,815
Finance leases, net	Property, plant and equipment, net	570		615
Total lease assets		$	26,262	$	27,430

Liabilities(1)
Current:
Operating lease liabilities	Current portion of operating lease liabilities	$	4,454	$	4,458
Finance lease liabilities	Short-term finance lease liabilities	183		182
Long-term:
Operating lease liabilities	Operating lease liabilities, net of current portion	21,485		22,599
Finance lease liabilities	Finance lease obligations and other long-term liabilities	396		442
Total lease liabilities		$	26,518	$	27,681

___________

(1) Excludes Campus Lease. See Note 10.

Schedule of future maturities of operating lease liabilities

The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of April 2, 2022:


	April 2, 2022
(in thousands)	Operating Leases(1)		Finance Leases
Remainder of 2022	$	4,148	$	145
2023	5,287		181
2024	3,542		146
2025	2,969		115
2026	2,831		10
Thereafter	12,983		—
Total undiscounted future minimum lease payments	31,760		597
Less imputed interest	(5,821)		(18)
Total discounted future minimum lease payments	$	25,939	$	579

___________

(1) Excludes Campus Lease. See Note 10.

Schedule of future maturities of finance lease liabilities

The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of April 2, 2022:


	April 2, 2022
(in thousands)	Operating Leases(1)		Finance Leases
Remainder of 2022	$	4,148	$	145
2023	5,287		181
2024	3,542		146
2025	2,969		115
2026	2,831		10
Thereafter	12,983		—
Total undiscounted future minimum lease payments	31,760		597
Less imputed interest	(5,821)		(18)
Total discounted future minimum lease payments	$	25,939	$	579

___________

(1) Excludes Campus Lease. See Note 10.

Inventories (Tables)

3 Months Ended

Apr. 02, 2022

Inventory Disclosure [Abstract]

Schedule of major classes of inventory

Major classes of inventory were as follows:


(in thousands)	April 2, 2022		December 31, 2021
Raw materials and packaging	$	132,209	$	129,974
Work in process	65,310		50,227
Finished goods	86,235		61,669
Total	$	283,754	$	241,870

Property, Plant and Equipment (Tables)

3 Months Ended

Apr. 02, 2022

Property, Plant and Equipment [Abstract]

Schedule of property, plant, and equipment

A summary of property, plant, and equipment as of April 2, 2022 and December 31, 2021, is as follows:


(in thousands)	April 2, 2022		December 31, 2021
Manufacturing equipment	$	125,489	$	115,412
Research and development equipment	16,861		16,837
Leasehold improvements	20,343		20,250
Building	22,819		22,937
Finance leases	867		867
Software	1,348		1,297
Furniture and fixtures	867		868
Vehicles	584		584
Land	5,407		5,434
Assets not yet placed in service	106,969		95,455
Total property, plant and equipment	$	301,554	$	279,941
Less: accumulated depreciation and amortization	60,165		53,452

Property, plant and equipment, net	$	241,389	$	226,489

Debt (Tables)

3 Months Ended

Apr. 02, 2022

Debt Disclosure [Abstract]

Schedule of debt balances

The following is a summary of debt balances as of April 2, 2022 and December 31, 2021:


(in thousands)	April 2, 2022		December 31, 2021
Convertible senior notes	$	1,150,000	$	1,150,000




Debt issuance costs	(19,343)		(20,326)


Long-term debt	$	1,130,657	$	1,129,674

The following is a summary of the Company’s Notes as of April 2, 2022:

(in thousands)

Principal Amount

Unamortized Issuance Costs

Net Carrying Amount

Fair Value

Amount

Leveling

0% Convertible senior notes due on March 15, 2027

$1,150,000

$19,343

$1,130,657

$688,563

Level 2

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Share-Based Compensation (Tables)

3 Months Ended

Apr. 02, 2022

Share-based Payment Arrangement [Abstract]

Summary of shares available for grant

The following table summarizes the shares available for grant under the 2018 Plan:


			Shares Available for Grant
Balance - December 31, 2021			6,515,807
Authorized			2,144,521
Granted			(966,978)
Shares withheld to cover taxes			9,917
Forfeited			37,704
Balance - April 2, 2022			7,740,971

Schedule of fair value assumptions

Following are the assumptions used in the Black-Scholes valuation model for options granted during the periods shown below:


	Three Months Ended
	April 2, 2022	April 3, 2021
Risk-free interest rate	1.7%	1.3%
Average expected term (years)	7.0	7.0
Expected volatility	55.0%	72.6%
Dividend yield	—	—

Schedule of stock option activity

The following table summarizes the Company’s stock option activity during the three months ended April 2, 2022:


	Number of Stock Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (in thousands)(1)
Outstanding at December 31, 2021	3,956,364	$	27.04	5.9	$	180,302
Granted	563,286	$	47.42	—	$	—
Exercised	(95,784)	$	8.48	—	$	4,205
Cancelled/Forfeited	(16,183)	$	92.71	—	$	—
Outstanding at April 2, 2022	4,407,683	$	29.81	6.2	$	126,043
Vested and exercisable at April 2, 2022	2,959,174	$	15.54	4.8	$	115,943
Vested and expected to vest at April 2, 2022	4,095,831	$	26.52	5.9	$	125,425

__________

Schedule of RSU activity

The following table summarizes the Company’s RSU activity during the three months ended April 2, 2022:


	Number of Units	Weighted Average Grant Date Fair Value Per Unit
Unvested at December 31, 2021	608,175	$	89
Granted	403,692	$	48.11
Vested(1)	(41,709)	$	99.29
Cancelled/Forfeited	(21,474)	$	100.15
Unvested at April 2, 2022	948,684	$	70.75

________

(1) Includes 9,917 shares of common stock that were withheld to cover taxes on the release of vested RSUs and became available for future grants pursuant to the 2018 Plan.

Net Loss Per Share Available to Common Stockholders (Tables)

3 Months Ended

Apr. 02, 2022

Earnings Per Share [Abstract]

Schedule of basic and diluted net income (loss) per common share


(in thousands, except share and per share amounts)	Three Months Ended
	April 2, 2022		April 3, 2021
Numerator:
Net loss available to common stockholders	$	(100,458)	$	(27,266)

Net loss available to common stockholders—basic	(100,458)		(27,266)
Denominator:
Weighted average common shares outstanding—basic	63,465,205		62,941,748
Dilutive effect of shares issuable under stock options	—		—
Dilutive effect of RSUs	—		—
Dilutive effect of share-settled obligation	—		—
Dilutive effect of Notes, if converted(1)	—		—
Weighted average common shares outstanding—diluted	63,465,205		62,941,748
Net loss per share available to common stockholders—basic	$	(1.58)	$	(0.43)
Net loss per share available to common stockholders—diluted	$	(1.58)	$	(0.43)

__________

Introduction (Details)	3 Months Ended
Introduction (Details)	Apr. 02, 2022
Geographic Concentration Risk \| Long-Lived Assets \| United States
Concentration Risk [Line Items]
Concentration risk	89.50%

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Dec. 31, 2021
Class of Warrant or Right [Line Items]
Foreign currency translation loss, net of tax	$ 723	$ 1,258
Foreign currency transaction loss	1,100	300
Liability for estimated sales discounts	4,300		$ 3,600
Cost of goods sold	109,265	75,456
Shipping and Handling
Class of Warrant or Right [Line Items]
Cost of goods sold	$ 5,900	$ 3,300
Customer One \| Customer Concentration Risk \| Revenue
Class of Warrant or Right [Line Items]
Concentration risk	12.00%	11.00%
Distributor One \| Customer Concentration Risk \| Revenue
Class of Warrant or Right [Line Items]
Concentration risk	10.00%

Summary of Significant Accounting Policies - Schedule of disaggregation of revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Disaggregation of Revenue [Line Items]
Net revenues	$ 109,455	$ 108,164
U.S. net revenues
Disaggregation of Revenue [Line Items]
Net revenues	83,753	80,568
U.S. net revenues \| Retail
Disaggregation of Revenue [Line Items]
Net revenues	68,260	63,826
U.S. net revenues \| Foodservice
Disaggregation of Revenue [Line Items]
Net revenues	15,493	16,742
International net revenues
Disaggregation of Revenue [Line Items]
Net revenues	25,702	27,596
International net revenues \| Retail
Disaggregation of Revenue [Line Items]
Net revenues	16,137	17,199
International net revenues \| Foodservice
Disaggregation of Revenue [Line Items]
Net revenues	$ 9,565	$ 10,397

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended
Restructuring (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Apr. 03, 2021	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring expenses	$ 3,026	$ 2,474
Accrued unpaid liabilities, contract termination	$ 1,300		$ 2,700

Leases - Narrative (Details)		3 Months Ended
Leases - Narrative (Details)	Jan. 14, 2021 renewal_option	Apr. 02, 2022 contract
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of renewal options (at minimum) \| contract		1
Lease not yet commenced, term of contract	12 years
Number of renewal options, lease not yet commenced \| renewal_option	2
Lease not yet commenced, renewal term	5 years
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease, initial term		2 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease, initial term		12 years

Leases - Components of expense and supplemental cash flow information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Lease Cost
Variable lease cost	$ 152	$ 28
Operating lease cost	2,280	912
Short-term lease cost	147	26
Amortization of right-of use assets	45	37
Interest on lease liabilities	24	5
Finance lease cost	69	42
Total lease cost	$ 2,496	980
Operating Leases
Weighted average remaining lease term (years)	8 years 3 months 18 days
Weighted average discount rate	4.50%
Finance Leases
Weighted average remaining lease term (years)	3 years 4 months 24 days
Weighted average discount rate	2.30%
Cost of goods sold
Lease Cost
Lease cost	$ 611	539
Research and development expenses
Lease Cost
Lease cost	514	148
Selling, general and administrative expenses
Lease Cost
Lease cost	$ 1,003	$ 197

Leases - Schedule of assets and liabilities related to leases (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Dec. 31, 2021
Assets
Operating lease right-of-use assets	$ 25,692	$ 26,815
Finance leases, net	$ 570	$ 615
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant, and equipment, net	Property, plant, and equipment, net
Total lease assets	$ 26,262	$ 27,430
Current:
Current portion of operating lease liabilities	4,454	4,458
Short-term finance lease liabilities	183	182
Long-term:
Operating lease liabilities, net of current portion	21,485	22,599
Finance lease liabilities	$ 396	$ 442
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Finance lease obligations and other long term liabilities	Finance lease obligations and other long term liabilities
Total lease liabilities	$ 26,518	$ 27,681

Leases - Schedule of future maturities of lease liabilities (Details) $ in Thousands	Apr. 02, 2022 USD ($)
Operating Leases
Remainder of 2022	$ 4,148
2023	5,287
2024	3,542
2025	2,969
2026	2,831
Thereafter	12,983
Total undiscounted future minimum lease payments	31,760
Less imputed interest	(5,821)
Total discounted future minimum lease payments	25,939
Finance Leases
Remainder of 2022	145
2023	181
2024	146
2025	115
2026	10
Thereafter	0
Total undiscounted future minimum lease payments	597
Less imputed interest	(18)
Total discounted future minimum lease payments	$ 579

Inventories (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials and packaging	$ 132,209	$ 129,974
Work in process	65,310	50,227
Finished goods	86,235	61,669
Total	$ 283,754	$ 241,870

Property, Plant and Equipment - Summary of property, plant, and equipment (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Finance leases	$ 867	$ 867
Total property, plant and equipment	301,554	279,941
Less: accumulated depreciation and amortization	60,165	53,452
Property, plant and equipment, net	241,389	226,489
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	125,489	115,412
Research and development equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	16,861	16,837
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	20,343	20,250
Building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	22,819	22,937
Software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,348	1,297
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	867	868
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	584	584
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,407	5,434
Assets not yet placed in service
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 106,969	$ 95,455

Property, Plant and Equipment - Narrative (Details) - USD ($)	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 7,091,000	$ 4,326,000
Assets held for sale	0		$ 0
Note receivable	3,800,000		$ 3,800,000
Cost of goods sold
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	6,000,000	3,400,000
Research and development expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	1,000,000	900,000
Selling, general and administrative expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 100,000	$ 0

Debt - Schedule of debt balances (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Dec. 31, 2021	Apr. 03, 2021	Mar. 05, 2021
Debt Instrument [Line Items]
Debt issuance costs	$ (19,343)	$ (20,326)
Total debt outstanding	1,130,657	1,129,674
Convertible Notes
Debt Instrument [Line Items]
Convertible senior notes	$ 1,150,000	$ 1,150,000	$ 1,200,000
Debt issuance costs				$ (23,600)

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Debt - Narrative (Details) - USD ($)		3 Months Ended
Debt - Narrative (Details) - USD ($)	Feb. 25, 2021	Apr. 02, 2022	Apr. 03, 2021	Dec. 31, 2021	Mar. 12, 2021	Mar. 05, 2021	Jan. 14, 2021
Debt Instrument [Line Items]
Debt issuance costs		$ 19,343,000		$ 20,326,000
Amortization of debt issuance costs		984,000	$ 369,000
Loss on extinguishment of debt	$ 1,000,000	0	1,037,000
Letter of credit
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 12,500,000
Level 2 \| Recurring
Debt Instrument [Line Items]
Convertible notes, fair value		688,563,000
Convertible Notes
Debt Instrument [Line Items]
Debt issuance costs						$ 23,600,000
Amortization of debt issuance costs		$ 1,000,000	300,000
Remaining term		5 years
Convertible Notes \| Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 1,000,000,000
Stated rate						0.00%
Debt issuance costs		$ 19,343,000
Convertible Notes \| Additional Notes
Debt Instrument [Line Items]
Aggregate principal amount					$ 150,000,000
Line of credit
Debt Instrument [Line Items]
Interest expense		0	300,000
Line of credit \| Revolving credit facility
Debt Instrument [Line Items]
Amortization of debt issuance costs		$ 0	$ 40,800

Debt - Summary of convertible senior notes (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Dec. 31, 2021	Apr. 03, 2021	Mar. 05, 2021
Debt Instrument [Line Items]
Debt issuance costs	$ 19,343	$ 20,326
Total debt outstanding	1,130,657	1,129,674
Level 2 \| Recurring
Debt Instrument [Line Items]
Convertible notes, fair value	688,563
Convertible Notes
Debt Instrument [Line Items]
Debt, outstanding balance	1,150,000	$ 1,150,000	$ 1,200,000
Debt issuance costs				$ 23,600
Convertible Notes \| Convertible Notes
Debt Instrument [Line Items]
Stated rate				0.00%
Debt, outstanding balance	1,150,000
Debt issuance costs	19,343
Total debt outstanding	$ 1,130,657

Stockholders’ Equity (Details) - $ / shares	Apr. 02, 2022	Dec. 31, 2021
Equity [Abstract]
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, issued (in shares)	63,525,399	63,400,899
Common stock, outstanding (in shares)	63,525,399	63,400,899
Preferred stock, authorized (in shares)	500,000	500,000
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
	Jan. 01, 2021	Apr. 02, 2022	Apr. 03, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance	20,915,919
Stock options outstanding (in shares)		4,407,683		3,956,364
Shares issued for stock option exercises (in shares)		7,869,381		7,730,884
Shares available for grant (in shares)		6,515,807		7,740,971
Share-settled obligation, reclassification to Additional paid-in-capital		$ 0.0	$ 0.8
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized	2,144,521	2,144,521
Shares available for grant (in shares)		7,740,971		6,515,807
RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issuable (in shares)		948,684		608,175
Granted (in shares)		403,692
Share-based compensation expense		$ 5.2	2.9
Unrecognized compensation expense, period of recognition		1 year 6 months
Unrecognized share-based compensation expense		$ 33.3
Vested (in shares)		41,709
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 4.1	3.4
Unrecognized compensation expense		$ 32.5
Unrecognized compensation expense, period of recognition		1 year 7 months 6 days
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrual for share-settled obligation		$ 0.0	0.8
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 0.0	$ 0.2
Shares of restricted stock purchased by nonemployees (in shares)		0
Employee Stock \| 2018 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance		2,412,585
Number of additional shares authorized per year	536,130
Employee \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			48 months
Non-employee \| RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			0
New Employees \| Employee \| RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Continuing Employees \| Employee \| RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Executive Officer \| Employee \| RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			100.00%
Vesting period			3 months
Vested (in shares)			6,066
Executive Officer \| Employee \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 months
First Anniversary \| New Employees \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25.00%	25.00%
First Anniversary \| New Employees \| Employee \| RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
First Anniversary \| Continuing Employees \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25.00%
First Anniversary \| Continuing Employees \| Employee \| RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		50.00%
First Anniversary \| New and Continuing Employees \| Employee \| RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25.00%
Thereafter \| New Employees \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years	3 years
Thereafter \| New Employees \| Employee \| RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Thereafter \| Continuing Employees \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Thereafter \| New and Continuing Employees \| Employee \| RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years

Share-Based Compensation - Summary of shares available for grant (Details) - shares		3 Months Ended
	Jan. 01, 2021	Apr. 02, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Shares Available for Grant, Number of Shares [Roll Forward]
Beginning balance (in shares)		7,740,971
Ending balance (in shares)		6,515,807
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Shares Available for Grant, Number of Shares [Roll Forward]
Beginning balance (in shares)		6,515,807
Authorized (in shares)	2,144,521	2,144,521
Granted (in shares)		(966,978)
Shares withheld to cover taxes (in shares)		9,917
Forfeited (in shares)		37,704
Ending balance (in shares)		7,740,971

Share-Based Compensation - Schedule of fair value assumptions (Details)	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Share-based Payment Arrangement [Abstract]
Risk-free interest rate	1.70%	1.30%
Average expected term (years)	7 years	7 years
Expected volatility	55.00%	72.60%
Dividend yield	0.00%	0.00%

Share-Based Compensation - Schedule of stock option activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 02, 2022	Dec. 31, 2021
Number of Stock Options
Outstanding, beginning balance (in shares)	3,956,364
Granted (in shares)	563,286
Exercised (in shares)	(95,784)
Cancelled/Forfeited (in shares)	(16,183)
Outstanding, ending balance (in shares)	4,407,683	3,956,364
Vested and exercisable (in shares)	2,959,174
Vested and expected to vest (in shares)	4,095,831
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 27.04
Granted (in dollars per share)	47.42
Exercised (in dollars per share)	8.48
Cancelled/Forfeited (in dollars per share)	92.71
Outstanding, ending balance (in dollars per share)	29.81	$ 27.04
Vested and exercisable (in dollars per share)	15.54
Vested and expected to vest (in dollars per share)	$ 26.52
Weighted Average Remaining Contractual Life (Years)
Outstanding	6 years 2 months 12 days	5 years 10 months 24 days
Vested and exercisable	4 years 9 months 18 days
Vested and expected to vest	5 years 10 months 24 days
Aggregate Intrinsic Value
Outstanding, beginning balance	$ 180,302
Exercised	4,205
Outstanding, ending balance	126,043	$ 180,302
Vested and exercisable	115,943
Vested and expected to vest	$ 125,425

Share-Based Compensation - Schedule of RSU activity (Details)	3 Months Ended
	Apr. 02, 2022 $ / shares shares
2018 Plan
Weighted Average Grant Date Fair Value Per Unit
Shares withheld to cover taxes (in shares)	9,917
RSU
Number of Units
Outstanding, beginning balance (in shares)	608,175
Granted (in shares)	403,692
Vested (in shares)	(41,709)
Cancelled/Forfeited (in shares)	(21,474)
Outstanding, ending balance (in shares)	948,684
Weighted Average Grant Date Fair Value Per Unit
Beginning balance (in dollars per share) \| $ / shares	$ 89
Granted (in dollars per share) \| $ / shares	48.11
Vested (in dollars per share) \| $ / shares	99.29
Cancelled/Forfeited (in dollars per share) \| $ / shares	100.15
Ending balance (in dollars per share) \| $ / shares	$ 70.75

Commitments and Contingencies (Details) € in Thousands									3 Months Ended		12 Months Ended
Commitments and Contingencies (Details) € in Thousands	Mar. 13, 2022 EUR (€)	Sep. 22, 2020 USD ($)	May 27, 2020 defendant	Mar. 18, 2020 defendant	Mar. 16, 2020 defendant	Jan. 30, 2020 defendant	Jan. 27, 2020 defendant	Jan. 24, 2020 USD ($)	Apr. 02, 2022 USD ($)	Apr. 03, 2021 USD ($)	Dec. 31, 2021 USD ($)	Apr. 18, 2022 USD ($)	Jan. 14, 2021 USD ($)
Loss Contingencies [Line Items]
Lease not yet commenced, cost									$ 300,000	$ 0
Escrow deposits related to lease not yet commenced									(37,000,000)		$ (59,200,000)
Equity in losses of unconsolidated joint venture									671,000	374,000
Purchase commitments in current fiscal year									34,600,000
The PLANeT Partnership
Loss Contingencies [Line Items]
Equity in losses of unconsolidated joint venture									700,000	$ 400,000
Beyond Meat (Jiaxing) Food Co., Ltd.
Loss Contingencies [Line Items]
Lease, initial term		2 years
Letter of credit
Loss Contingencies [Line Items]
Maximum borrowing capacity													$ 12,500,000
Letter of credit \| 5th anniversary of Rent Commencement
Loss Contingencies [Line Items]
Maximum borrowing capacity													6,300,000
Letter of credit \| 8th anniversary of Rent Commencement
Loss Contingencies [Line Items]
Maximum borrowing capacity													3,100,000
Letter of credit \| Event of certain credit ratings and not in default
Loss Contingencies [Line Items]
Maximum borrowing capacity													$ 0
JXEDZ
Loss Contingencies [Line Items]
Investment agreement, expected amount		$ 10,000,000
Investment agreement, land use right period		2 years
Investment agreement, additional amount to acquire land		$ 30,000,000
Former Co-manufacturer Complaint \| Pending Litigation
Loss Contingencies [Line Items]
Damages sought, value								$ 628,689
Number of defendants \| defendant							3
Securities related litigation \| Pending Litigation
Loss Contingencies [Line Items]
Number of defendants \| defendant			2	2	2	2
First Amended Complaint \| Pending Litigation
Loss Contingencies [Line Items]
Accrued litigation liability									$ 515,000		$ 515,000
First Amended Complaint \| Judicial Ruling \| Subsequent event
Loss Contingencies [Line Items]
Escrow deposit												$ 515,000
Interbev \| Pending Litigation
Loss Contingencies [Line Items]
Damages sought, value \| €	€ 200

Income Taxes (Details) - USD ($)	3 Months Ended
Income Taxes (Details) - USD ($)	Apr. 02, 2022	Apr. 03, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ 10,000	$ 48,000
Accrued interest or penalties related to uncertain tax positions	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Net Loss Per Share Available to Common Stockholders - Narrative (Details) - shares	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation	4,407,683	4,097,076
Dilutive effect (in shares)	0	0
RSU
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation	948,684	294,296
Dilutive effect (in shares)	0	0
Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive effect (in shares)	0	0

Net Loss Per Share Available to Common Stockholders - Schedule of basic and diluted net income (loss) per common share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Dec. 31, 2021
Numerator:
Net loss available to common stockholders	$ (100,458)	$ (27,266)
Net loss available to common stockholders—basic	(100,458)	(27,266)
Net loss available to common stockholders—diluted	$ (100,458)	$ (27,266)
Denominator:
Weighted average common shares outstanding—basic (in shares)	63,465,205	62,941,748
Dilutive effect of Notes, if converted (in shares)	0	0
Weighted average common shares outstanding—diluted (in shares)	63,465,205	62,941,748
Net loss per share available to common stockholders—basic (in dollars per share)	$ (1.58)	$ (0.43)
Net loss per share available to common stockholders—diluted (in dollars per share)	$ (1.58)	$ (0.43)
Convertible Notes
Denominator:
Debt, outstanding balance	$ 1,150,000	$ 1,200,000	$ 1,150,000
Stock Options
Denominator:
Dilutive effect (in shares)	0	0
RSU
Denominator:
Dilutive effect (in shares)	0	0
Common Stock
Denominator:
Dilutive effect (in shares)	0	0

Related Party Disclosures (Details) - Affiliated Entity - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Revenue from related parties	$ 10.7	$ 0.0
Accounts receivable from related parties	$ 6.0		$ 0.0

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07.1(c))
-URI http://asc.fasb.org/extlink&oid=120401555&loc=SL114874292-224272

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1(e))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details