0001655210-24-000263 | 10-Q | XBRL Viewer

Share-Based Compensation

9 Months Ended

Sep. 28, 2024

Share-Based Payment Arrangement [Abstract]

In 2019, the Company’s 2011 Equity Incentive Plan (“2011 Plan”) was amended, restated and re-named the 2018 Equity Incentive Plan (“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, 2024, the maximum aggregate number of shares that may be issued under the 2018 Plan increased to 25,204,961 shares, which includes an increase of 2,144,521 shares effective January 1, 2024 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, 2023			8,230,500
Authorized			2,144,521
Granted(1)			(3,258,068)
Shares withheld to cover taxes			71,057
Forfeited			274,243
Balance - September 28, 2024			7,462,253

__________

(1) Includes 225,967 shares reserved for issuance pursuant to performance stock units if 200% of the applicable performance target is achieved.

As of September 28, 2024 and December 31, 2023, there were 5,406,662 and 4,477,120 shares, respectively, issuable under stock options outstanding, 2,400,113 and 1,411,310 shares, respectively, issuable under unvested RSUs outstanding, 225,967 and 0 shares, respectively, issuable under unvested

PSUs outstanding, 225,967 shares reserved for issuance under unvested PSUs outstanding if 200% of the applicable performance target is achieved, 9,677,136 and 9,048,906 shares, respectively, issued for stock option exercises, RSU settlement and restricted stock grants, and 7,462,253 and 8,230,500 shares, respectively, available for grant 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

Nine Months Ended

September 28,
2024

September 30,
2023

September 28,
2024

September 30,
2023

Risk-free interest rate

3.9%

N/A

4.3%

4.1%

Average expected term (years)

7.0

N/A

7.0

Expected volatility

55.3%

N/A

55.0%

55.3%

Dividend yield

N/A

Option grants in the nine months ended September 28, 2024 and September 30, 2023 generally vest 25% of the total award on the first anniversary of the vesting commencement date, and thereafter ratably vesting monthly over the remaining three-year period, subject to continued employment through the vesting date.

The following table summarizes the Company’s stock option activity during the nine months ended September 28, 2024:


	Number of Stock Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (in thousands)(1)
Outstanding at December 31, 2023	4,477,120	$	23.04	5.4	$	12,915
Granted	1,069,541	$	9.33	—	$	—
Exercised	(6,033)	$	3.00	—	$	23
Canceled/Forfeited	(133,966)	$	31.89	—	$	—
Outstanding at September 28, 2024	5,406,662	$	20.13	5.6	$	9,639
Vested and exercisable at September 28, 2024	3,482,392	$	23.29	3.7	$	9,544
Vested and expected to vest at September 28, 2024	4,818,333	$	21.32	5.1	$	9,591

__________

(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.

In the three months ended September 28, 2024 and September 30, 2023, the Company recorded in aggregate $2.0 million and $2.1 million, respectively, of share-based compensation expense related to options. In the nine months ended September 28, 2024 and September 30, 2023, the Company recorded in aggregate $5.7 million and $9.0 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 September 28, 2024, there was $12.1 million in unrecognized compensation expense related to nonvested stock option awards which is expected to be recognized over a weighted average period of 1.2 years.

Restricted Stock Units

RSU grants to employees in the nine months ended September 28, 2024 and September 30, 2023 generally vest 25% of the total award on the first anniversary of the vesting commencement date, and thereafter vest quarterly over the remaining three years of the award, subject to continued employment through the vesting date. Some of the RSU grants to continuing employees in the nine months ended September 28, 2024 and September 30, 2023 vest 50% of the total award on the first anniversary of the vesting commencement date, and thereafter vest quarterly over the remaining four quarters of the award, subject to continued employment through the vesting date. Some of the RSU grants to continuing employees in the nine months ended September 30, 2023 vest quarterly over four quarters, subject to continued employment through the vesting date.

Annual RSU grants to directors on the Company’s Board of Directors (the “Board”) in the nine months ended September 28, 2024 and September 30, 2023 vest monthly over a one-year period subject to continued service through the vesting date. RSU grants to new directors on the Board in the nine months ended September 28, 2024 and September 30, 2023 vest monthly over a three-year period subject to continued service through the vesting date. RSU grants to non-employee consultants and ambassadors in the nine months ended September 28, 2024 and September 30, 2023 vest on varying dates, subject to continued service through the vesting date.

The following table summarizes the Company’s RSU activity during the nine months ended September 28, 2024:


	Number of Units	Weighted Average Grant Date Fair Value Per Unit
Unvested at December 31, 2023	1,411,310	$	19.60
Granted	1,736,593	$	9.03
Vested(1)	(614,738)	$	18.72
Canceled/Forfeited	(133,052)	$	15.95
Unvested at September 28, 2024	2,400,113	$	12.44

________

(1) Includes 71,057 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.

In the three months ended September 28, 2024 and September 30, 2023, the Company recorded $3.4 million and $4.4 million, respectively, of share-based compensation expense related to RSUs. In the nine months ended September 28, 2024 and September 30, 2023, the Company recorded $10.7 million and $14.8 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 September 28, 2024, there was $19.3 million in unrecognized compensation expense related to unvested RSUs which is expected to be recognized over a weighted average period of 1.3 years.

Performance Stock Units

In March 2024, the Company granted a target amount of $3.3 million in PSUs with market-based and service-based vesting conditions to certain executive officers. The market vesting criteria is based on the Company’s TSR results relative to a peer group. The peer group includes the constituents of the S&P Food and Beverage Select Industry Index excluding companies in the S&P 500 as of the beginning of the performance periods during a one-year, two-year and three-year performance period beginning on January 1, 2024 and ending on December 31, 2024, December 31, 2025 and December 31, 2026, respectively. The market vesting condition allows for a range of vesting from 0% to 200% of the target amount, depending on the relative TSR achieved by the Company against the peer group. In addition to the market vesting condition, these PSUs are subject to the continued service of the executive officers through the last day of the applicable performance period. The fair values of PSUs are measured on the grant date using a Monte Carlo valuation model. Each of the three performance periods is considered an individual tranche of the award referred to as “Tranche 1,” “Tranche 2” and “Tranche 3,” respectively.


	Number of Units	Grant Date Fair Value Per Unit		Performance Period
Tranche 1	80,307	$	13.49	January 1, 2024 - December 31, 2024
Tranche 2	74,714	$	14.50	January 1, 2024 - December 31, 2025
Tranche 3	70,946	$	15.27	January 1, 2024 - December 31, 2026

The following table summarizes the Company’s PSU activity during the nine months ended September 28, 2024:


	Number of Units	Weighted Average Grant Date Fair Value Per Unit
Unvested at January 1, 2024	—	$	—
Granted	225,967	$	14.38
Vested	—	$	—
Canceled/Forfeited	—	$	—
Unvested at September 28, 2024	225,967	$	14.38

The total grant date fair value of the awards was determined to be $3.3 million, with each tranche of the awards representing $1.1 million of the total expense. The requisite service period for each tranche of the award is 10 months, 22 months and 34 months, respectively. Share-based compensation expense related to PSUs is recognized on a straight-line basis over their requisite service periods, regardless of whether the market condition is ultimately satisfied. Share-based compensation expense is not reversed if the achievement of the market condition does not occur.

In the three and nine months ended September 28, 2024, the Company recorded $0.6 million and $1.3 million, respectively, of share-based compensation expense related to PSUs. The share-based compensation expense is included in SG&A expenses in the Company’s condensed consolidated statements of operations. Prior to December 31, 2023, the Company had no share-based compensation expense related to PSUs.

As of September 28, 2024, there was $1.9 million in unrecognized compensation expense related to unvested PSUs which is expected to be recognized over a weighted average vesting period of 1.5 years.

Employee Stock Purchase Plan

As of September 28, 2024, the maximum aggregate number of shares that may be issued under the 2018 Employee Stock Purchase Plan (“ESPP”) was 3,484,845 shares of common stock, including an increase of 536,130 shares effective January 1, 2024 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.

Leases (Tables)

9 Months Ended

Sep. 28, 2024

Leases [Abstract]

Schedule of 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	September 28, 2024		September 30, 2023
Operating lease cost:
Lease cost	Cost of goods sold	$	424	$	399
Lease cost	Research and development expenses	2,383		2,507
Lease cost	Selling, general and administrative expenses	612		820
Variable lease cost(1)	Cost of goods sold	65		54
Variable lease cost(1)	Research and development expenses	—		21
Variable lease cost(1)	Selling, general and administrative expenses	1,099		632
Operating lease cost		$	4,583	$	4,433
Short-term lease cost:
Short-term lease cost	Cost of goods sold	$	23	$	21
Short-term lease cost	Research and development expenses	26		37
Short-term lease cost	Selling, general and administrative expenses	144		51
Short-term lease cost		$	193	$	109
Finance lease cost:
Amortization of right-of use assets	Cost of goods sold	$	267	$	49
Amortization of right-of use assets	Research and development expenses	4		4
Interest on lease liabilities	Interest expense	45		5
Variable lease cost(1)	Cost of goods sold	3		3


Finance lease cost		$	319	$	61
Total lease cost		$	5,095	$	4,603

____________

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


		Nine Months Ended
(in thousands)	Statement of Operations Location	September 28, 2024		September 30, 2023
Operating lease cost:
Lease cost	Cost of goods sold	$	1,246	$	1,210
Lease cost	Research and development expenses	7,151		6,979
Lease cost	Selling, general and administrative expenses	1,890		1,937
Variable lease cost(1)	Cost of goods sold	181		177
Variable lease cost(1)	Research and development expenses	6		104
Variable lease cost(1)	Selling, general and administrative expenses	3,059		1,800
Operating lease cost		$	13,533	$	12,207
Short-term lease cost:
Short-term lease cost	Cost of goods sold	$	67	$	63
Short-term lease cost	Research and development expenses	80		121
Short-term lease cost	Selling, general and administrative expenses	252		148
Short-term lease cost		$	399	$	332
Finance lease cost:
Amortization of right-of use assets	Cost of goods sold	$	733	$	154
Amortization of right-of use assets	Research and development expenses	11		11
Interest on lease liabilities	Interest expense	122		16
Variable lease cost(1)	Cost of goods sold	9		8
Variable lease cost(1)	Research and development expenses	1		—

Finance lease cost		$	876	$	189
Total lease cost		$	14,808	$	12,728

____________

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

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


	September 28, 2024
	Operating Leases		Finance Leases
Weighted average remaining lease term (years)	13.4		4.2
Weighted average discount rate	6.9	%	4.2	%

Schedule of Assets and Liabilities Related to Operating and Finance Leases

Supplemental balance sheet information as of September 28, 2024 and December 31, 2023 related to leases are:


(in thousands)	Balance Sheet Location	September 28, 2024		December 31, 2023
Assets
Operating leases	Operating lease right-of-use assets	$	126,092	$	130,460
Finance leases, net	Property, plant and equipment, net	4,343		461
Total lease assets		$	130,435	$	130,921

Liabilities
Current:
Operating lease liabilities	Current portion of operating lease liabilities	$	4,103	3,677
Finance lease liabilities	Accrued expenses and other current liabilities	1,140		196
Long-term:
Operating lease liabilities	Operating lease liabilities, net of current portion	74,506		75,648
Finance lease liabilities	Finance lease obligations and other long-term liabilities	3,273		274
Total lease liabilities		$	83,022	$	79,795

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 September 28, 2024:


	September 28, 2024
(in thousands)	Operating Leases		Finance Leases
Remainder of 2024	$	2,210	$	397
2025	8,653		1,201
2026	8,507		1,096
2027	8,330		1,064
2028	8,381		1,024
Thereafter	89,018		9
Total undiscounted future minimum lease payments	125,099		4,791
Less imputed interest	(46,490)		(378)
Total discounted future minimum lease payments	$	78,609	$	4,413

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 September 28, 2024:


	September 28, 2024
(in thousands)	Operating Leases		Finance Leases
Remainder of 2024	$	2,210	$	397
2025	8,653		1,201
2026	8,507		1,096
2027	8,330		1,064
2028	8,381		1,024
Thereafter	89,018		9
Total undiscounted future minimum lease payments	125,099		4,791
Less imputed interest	(46,490)		(378)
Total discounted future minimum lease payments	$	78,609	$	4,413

Schedule of Cash Flow, Supplemental Disclosures

Supplemental cash flow information:


	Three Months Ended				Nine Months Ended
(in thousands)	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,160	$	1,763	$	6,491	$	5,207
Operating lease right-of-use assets obtained in exchange for lease liabilities	366		—		$	1,755	$	36,400

Share-Based Compensation - Schedule of PSU Activity (Details) - Performance Shares	9 Months Ended
	Sep. 28, 2024 $ / shares shares
Number of Units
Outstanding, beginning balance (in shares) \| shares	0
Vested (in shares) \| shares	0
Canceled/Forfeited (in shares) \| shares	0
Outstanding, ending balance (in shares) \| shares	225,967
Weighted Average Grant Date Fair Value Per Unit
Beginning balance (in dollars per share)	$ 0
Granted (in dollars per share)	14.38
Vested (in dollars per share)	0
Canceled/Forfeited (in dollars per share)	0
Ending balance (in dollars per share)	$ 14.38

Condensed Consolidated Statements of Stockholders’ Deficit - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2022		63,773,982
Beginning balance at Dec. 31, 2022	$ (203,548)	$ 6	$ 544,357	$ (743,109)	$ (4,802)
Increase (Decrease) in Stockholders' Equity
Net loss	(59,037)			(59,037)
Issuance of common stock under equity incentive plans, net (in shares)		376,772
Issuance of common stock under equity incentive plans, net	(117)		(117)
Share-based compensation for equity classified awards	9,565		9,565
Foreign currency translation adjustment	3				3
Ending balance (in shares) at Apr. 01, 2023		64,150,754
Ending balance at Apr. 01, 2023	(253,134)	$ 6	553,805	(802,146)	(4,799)
Beginning balance (in shares) at Dec. 31, 2022		63,773,982
Beginning balance at Dec. 31, 2022	(203,548)	$ 6	544,357	(743,109)	(4,802)
Increase (Decrease) in Stockholders' Equity
Net loss	(183,034)
Foreign currency translation adjustment	106
Ending balance (in shares) at Sep. 30, 2023		64,460,196
Ending balance at Sep. 30, 2023	(362,906)	$ 6	567,927	(926,143)	(4,696)
Beginning balance (in shares) at Apr. 01, 2023		64,150,754
Beginning balance at Apr. 01, 2023	(253,134)	$ 6	553,805	(802,146)	(4,799)
Increase (Decrease) in Stockholders' Equity
Net loss	(53,505)			(53,505)
Issuance of common stock under equity incentive plans, net (in shares)		167,492
Issuance of common stock under equity incentive plans, net	(69)		(69)
Share-based compensation for equity classified awards	7,748		7,748
Foreign currency translation adjustment	(158)				(158)
Ending balance (in shares) at Jul. 01, 2023		64,318,246
Ending balance at Jul. 01, 2023	(299,118)	$ 6	561,484	(855,651)	(4,957)
Increase (Decrease) in Stockholders' Equity
Net loss	(70,492)			(70,492)
Issuance of common stock under equity incentive plans, net (in shares)		141,950
Issuance of common stock under equity incentive plans, net	(35)		(35)
Share-based compensation for equity classified awards	6,478		6,478
Foreign currency translation adjustment	261				261
Ending balance (in shares) at Sep. 30, 2023		64,460,196
Ending balance at Sep. 30, 2023	(362,906)	$ 6	567,927	(926,143)	(4,696)
Beginning balance (in shares) at Dec. 31, 2023		64,624,140
Beginning balance at Dec. 31, 2023	(513,368)	$ 6	573,128	(1,081,253)	(5,249)
Increase (Decrease) in Stockholders' Equity
Net loss	(54,361)			(54,361)
Issuance of common stock under equity incentive plans, net (in shares)		228,702
Issuance of common stock under equity incentive plans, net	(430)		(430)
Share-based compensation for equity classified awards	6,075		6,075
Foreign currency translation adjustment	673				673
Ending balance (in shares) at Mar. 30, 2024		64,852,842
Ending balance at Mar. 30, 2024	(561,411)	$ 6	578,773	(1,135,614)	(4,576)
Beginning balance (in shares) at Dec. 31, 2023		64,624,140
Beginning balance at Dec. 31, 2023	(513,368)	$ 6	573,128	(1,081,253)	(5,249)
Increase (Decrease) in Stockholders' Equity
Net loss	(115,416)
Foreign currency translation adjustment	(294)
Ending balance (in shares) at Sep. 28, 2024		65,171,128
Ending balance at Sep. 28, 2024	(611,924)	$ 6	590,282	(1,196,669)	(5,543)
Beginning balance (in shares) at Mar. 30, 2024		64,852,842
Beginning balance at Mar. 30, 2024	(561,411)	$ 6	578,773	(1,135,614)	(4,576)
Increase (Decrease) in Stockholders' Equity
Net loss	(34,479)			(34,479)
Issuance of common stock under equity incentive plans, net (in shares)		140,476
Issuance of common stock under equity incentive plans, net	(105)		(105)
Share-based compensation for equity classified awards	5,773		5,773
Foreign currency translation adjustment	197				197
Ending balance (in shares) at Jun. 29, 2024		64,993,318
Ending balance at Jun. 29, 2024	(590,025)	$ 6	584,441	(1,170,093)	(4,379)
Increase (Decrease) in Stockholders' Equity
Net loss	(26,576)			(26,576)
Issuance of common stock under equity incentive plans, net (in shares)		177,810
Issuance of common stock under equity incentive plans, net	(64)		(64)
Share-based compensation for equity classified awards	5,905		5,905
Foreign currency translation adjustment	(1,164)				(1,164)
Ending balance (in shares) at Sep. 28, 2024		65,171,128
Ending balance at Sep. 28, 2024	$ (611,924)	$ 6	$ 590,282	$ (1,196,669)	$ (5,543)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (SX 210.5-03(20))
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Section 65
-Paragraph 1
-Subparagraph (f)
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-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/exampleRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 28, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Commitments and Contingencies - Narrative (Details) € in Thousands									1 Months Ended				3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 17, 2024 USD ($)	Feb. 02, 2024 EUR (€) ft²	Nov. 21, 2023 USD ($)	Jul. 12, 2023 jurisdiction	Apr. 21, 2023 action	Apr. 06, 2022	Mar. 13, 2022 EUR (€)	Sep. 22, 2020 USD ($) phase	Aug. 31, 2024 USD ($)	Mar. 30, 2024 EUR (€)	Nov. 30, 2023 CAD ($)	Oct. 31, 2020 co-manufacturer	Sep. 28, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 28, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2021 ft²	Jan. 14, 2021 USD ($) ft²
Loss Contingencies [Line Items]
Future minimum lease payments													$ 125,099,000		$ 125,099,000
Restricted cash, non-current													12,600,000		12,600,000			$ 12,600,000
Renewal term																			8 years	12 years
Number of phases of development \| phase								2
Investment agreement, expected amount													22,000,000.0		22,000,000.0
Investment agreement, land use right period																	5 years
Investment agreement, amount advanced													20,000,000.0		20,000,000.0
Equity in losses of unconsolidated joint venture													38,000	$ 126,000	61,000	$ 3,864,000
Investment in unconsolidated joint venture													1,612,000		1,612,000			1,673,000
Purchase commitment term						5 years
Restructuring expenses			$ 4,400,000										0	(4,000)	0	(631,000)
Number of company contract manufacturer \| co-manufacturer												1
Accrued litigation settlement costs													7,250,000		7,250,000			0
Certain Machinery
Loss Contingencies [Line Items]
Property, plant and equipment, gross													5,100,000		5,100,000
Lease Agreements
Loss Contingencies [Line Items]
Increase in the base rent over initial lease term	$ 851,000
BVeggie
Loss Contingencies [Line Items]
Damages sought, value											$ 129,841,920
Consumer Class Actions Regarding Protein Claims \| Pending Litigation
Loss Contingencies [Line Items]
Loss contingency, accrual, payments									$ 250,000						250,000
Litigation settlement, amount															7,500,000
Accrued litigation settlement costs													7,250,000		7,250,000
Interbev \| Pending Litigation
Loss Contingencies [Line Items]
Damages sought, value \| €							€ 200			€ 73,000
Loss contingency, claims filed, vs number of plaintiffs \| action					2
Pea Protein
Loss Contingencies [Line Items]
Remainder of 2024													2,700,000		2,700,000
2025													17,100,000		17,100,000
The Planet Partnership, LLC (“TPP”)
Loss Contingencies [Line Items]
Equity in losses of unconsolidated joint venture													38,000	100,000	61,000	3,900,000
Investment in unconsolidated joint venture													27,600,000		27,600,000			$ 27,600,000
NETHERLANDS \| Purchase Commitment
Loss Contingencies [Line Items]
Number of square foot property \| ft²		114,000
Renewal term		5 years
Lease extended term (in years)		5 years
First year annual rent expense \| €		€ 1,000
Shanghai, China
Loss Contingencies [Line Items]
Number of square feet in lease agreement \| ft²																			12,000
EU and France
Loss Contingencies [Line Items]
Loss contingency, number of jurisdictions \| jurisdiction				27
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
HC Hornet Way, LLC
Loss Contingencies [Line Items]
Number of square feet in lease agreement \| ft²																				282,000
Future minimum lease payments																	$ 79,600,000
JXEDZ
Loss Contingencies [Line Items]
Gain on investments													$ 0	$ 0	$ 500,000	$ 0
Investment agreement, expected amount								$ 10,000,000.0
Investment agreement, land use right period								2 years
Investment agreement, additional amount to acquire land								$ 40,000,000

Leases - Narrative (Details) $ in Thousands, € in Millions				3 Months Ended		9 Months Ended		12 Months Ended
Leases - Narrative (Details) $ in Thousands, € in Millions	Sep. 17, 2024 USD ($)	Feb. 02, 2024 EUR (€) ft²	Jan. 14, 2021 renewal_option	Sep. 28, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 28, 2024 USD ($) renewal_option	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Renewal term			12 years							8 years
Number of renewal options (at minimum) \| renewal_option						1
Escrow deposits related to lease not yet commenced						$ 4,900		$ 4,200
Operating lease right-of-use assets				$ 126,092		126,092		130,460
Operating lease right-of-use assets obtained in exchange for lease liabilities				366	$ 0	1,755	$ 36,400
Total discounted future minimum lease payments				$ 78,609		$ 78,609
NETHERLANDS \| Purchase Commitment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Renewal term		5 years
Lease extended term (in years)		5 years
Number of square foot property \| ft²		114,000
First year annual rent expense \| €		€ 1.0
Lease Agreements
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets								64,900	$ 64,100
Operating lease right-of-use assets obtained in exchange for lease liabilities								29,300	27,700
Total discounted future minimum lease payments								$ 35,600	$ 36,600
Increase in the base rent over initial lease term	$ 851
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Renewal term				2 years		2 years
Number of renewal options (at minimum) \| renewal_option			2
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Renewal term				12 years		12 years
Lease extended term (in years)			5 years

Net Loss Per Share Available to Common Stockholders

9 Months Ended

Sep. 28, 2024

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 provisions of ASC 260 “Earnings Per Share.” Pursuant to ASU 2020-06, the Company applies the if-converted method to its Notes. See Note 2.


(in thousands, except share and per share amounts)	Three Months Ended				Nine Months Ended
	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Numerator:
Net loss available to common stockholders	$	(26,576)	$	(70,492)	$	(115,416)	$	(183,034)

Net loss available to common stockholders—basic	(26,576)		(70,492)		(115,416)		(183,034)
Denominator:
Weighted average common shares outstanding—basic	65,060,729		64,398,448		64,880,008		64,210,809
Dilutive effect of shares issuable under stock options	—		—		—		—
Dilutive effect of RSUs	—		—		—		—
Dilutive effect of PSUs	—		—		—		—
Dilutive effect of Notes, if converted(1)	—		—		—		—
Weighted average common shares outstanding—diluted	65,060,729		64,398,448		64,880,008		64,210,809
Net loss per share available to common stockholders—basic and diluted	$	(0.41)	$	(1.09)	$	(1.78)	$	(2.85)

__________

(1) As the Company recorded a net loss in the three and nine months ended September 28, 2024 and September 30, 2023, inclusion of shares from the conversion premium or spread would be anti-dilutive. The Company had $1.15 billion in Notes outstanding as of September 28, 2024 and September 30, 2023.

The following shares of common stock equivalents were excluded from the computation of diluted net loss per share available to common stockholders for the periods presented because the impact of including them would have been antidilutive:


	Three Months Ended		Nine Months Ended
	September 28, 2024	September 30, 2023	September 28, 2024	September 30, 2023
Options to purchase common stock	5,406,662	4,383,626	5,406,662	4,383,626
RSUs	2,400,113	1,399,909	2,400,113	1,399,909
PSUs	225,967	—	225,967	—
Total	8,032,742	5,783,535	8,032,742	5,783,535

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 5,300	$ 5,800	$ 17,464	$ 17,707
Assets held for sale	2,275		2,275		$ 4,539
Gain (loss) on sale of fixed assets	(100)	(100)	(493)	(3,876)
Cost of goods sold
Property, Plant and Equipment [Line Items]
Depreciation and amortization	4,700	5,100	15,300	15,700
Research and development expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization	500	500	1,500	1,400
Selling, general and administrative expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 100	$ 200	$ 700	$ 600

Stockholders’ Deficit

9 Months Ended

Sep. 28, 2024

Equity [Abstract]

Stockholders’ Deficit

As of September 28, 2024, the Company’s shares consisted of 500,000,000 authorized shares of common stock, par value $0.0001 per share, of which 65,171,128 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, 2023, the Company’s shares consisted of 500,000,000 authorized shares of common stock, par value $0.0001 per share, of which 64,624,140 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.

Common Stock

Common stock reserved for future issuance consisted of the following:


	September 28, 2024	December 31, 2023
Equity incentive compensation awards granted and outstanding	8,032,742	5,888,077
Shares available for grant under the 2018 Equity Incentive Plan(1)	7,462,253	8,230,500
Shares available for issuance under the Employee Stock Purchase Plan	3,484,845	2,948,715
Shares reserved for potential issuance under the Notes	8,234,230	8,234,230
Total common stock reserved for future issuance(1)(2)	27,214,070	25,301,522

_________________

(1) Shares available for issuance under the 2018 Equity Incentive Plan includes 225,967 shares that may be issued pursuant to performance stock units if 200% of the applicable performance target is achieved.

(2) Total common stock reserved for future issuance does not include shares that may be issued pursuant to the ATM Program discussed below.

ATM Program

In May 2023, the Company filed an automatic shelf registration statement on Form S-3 (the “2023 Shelf Registration Statement”) with the SEC registering an indeterminate amount of its common stock, preferred stock, debt securities, warrants, purchase contracts and units (collectively, “Company securities”). On March 18, 2024, the Company filed an updated shelf registration statement on Form S-3 (the “2024 Shelf Registration Statement”), which the SEC declared effective on April 12, 2024 and which replaced the 2023 Shelf Registration Statement. The 2024 Shelf Registration Statement allows the Company to sell, from time to time and at its discretion, Company securities having an aggregate offering price of up to $250.0 million including up to $200.0 million in shares of common stock that may be sold pursuant to the Company’s equity distribution agreement (the “Equity Distribution Agreement”) with Goldman Sachs & Co. LLC (“Goldman Sachs”), as sales agent, under an “at the market” offering program (the “ATM Program”).

Pursuant to the Equity Distribution Agreement, the Company may offer and sell common stock having an aggregate offering price of up to $200.0 million from time to time to or through Goldman Sachs, as the sales agent, subject to compliance with applicable laws and the applicable requirements of the Equity Distribution Agreement. The Equity Distribution Agreement also requires the Company to pay Goldman Sachs a commission equal to 3.25% of the aggregate gross proceeds of any shares sold through Goldman Sachs pursuant to the Equity Distribution Agreement. The Company intends to use the net proceeds, if any, from sales of common stock issued under the ATM Program for general corporate and working capital purposes. The timing of any sales and the number of shares sold, if any, will depend on a variety of factors to be determined and considered by the Company. The Company is not obligated to sell any shares under the Equity Distribution Agreement. As of September 28, 2024, no sales had been made under the Equity Distribution Agreement and the ATM Program’s full capacity remained available.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 946
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-Topic 815
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-Topic 505
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+ Details

Share-Based Compensation - Schedule of Performance Stock Units (Details) - Performance Shares - USD ($)		3 Months Ended	9 Months Ended
	Dec. 30, 2023	Sep. 28, 2024	Sep. 28, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)			$ 14.38
Share-based compensation expense	$ 0	$ 600,000	$ 1,300,000
Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			80,307
Granted (in dollars per share)			$ 13.49
Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			74,714
Granted (in dollars per share)			$ 14.50
Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			70,946
Granted (in dollars per share)			$ 15.27

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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+ Details

Net Loss Per Share Available to Common Stockholders (Tables)

9 Months Ended

Sep. 28, 2024

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				Nine Months Ended
	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Numerator:
Net loss available to common stockholders	$	(26,576)	$	(70,492)	$	(115,416)	$	(183,034)

Net loss available to common stockholders—basic	(26,576)		(70,492)		(115,416)		(183,034)
Denominator:
Weighted average common shares outstanding—basic	65,060,729		64,398,448		64,880,008		64,210,809
Dilutive effect of shares issuable under stock options	—		—		—		—
Dilutive effect of RSUs	—		—		—		—
Dilutive effect of PSUs	—		—		—		—
Dilutive effect of Notes, if converted(1)	—		—		—		—
Weighted average common shares outstanding—diluted	65,060,729		64,398,448		64,880,008		64,210,809
Net loss per share available to common stockholders—basic and diluted	$	(0.41)	$	(1.09)	$	(1.78)	$	(2.85)

__________

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	Three Months Ended		Nine Months Ended
	September 28, 2024	September 30, 2023	September 28, 2024	September 30, 2023
Options to purchase common stock	5,406,662	4,383,626	5,406,662	4,383,626
RSUs	2,400,113	1,399,909	2,400,113	1,399,909
PSUs	225,967	—	225,967	—
Total	8,032,742	5,783,535	8,032,742	5,783,535

Debt (Tables)

9 Months Ended

Sep. 28, 2024

Debt Disclosure [Abstract]

Schedule of Debt Balances

The following is a summary of debt balances as of September 28, 2024 and December 31, 2023:


(in thousands)	September 28, 2024		December 31, 2023
0% Convertible senior notes	$	1,150,000	$	1,150,000




Debt issuance costs	(9,507)		(12,458)
Total debt outstanding	$	1,140,493	$	1,137,542
Less: current portion of long-term debt	—		—
Long-term debt	$	1,140,493	$	1,137,542

The following is a summary of the Company’s Notes as of September 28, 2024:

(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

$9,507

$1,140,493

$184,000

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
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+ Details

Summary of Significant Accounting Policies

9 Months Ended

Sep. 28, 2024

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, 2023, filed with the SEC on March 1, 2024 (the “2023 10-K”). There have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2023 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, 2024 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 2023 10-K. The condensed consolidated balance sheet as of December 31, 2023 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 fixed assets; 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 and performance stock units (“PSUs”) 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 (loss) gain, net of tax, reported as cumulative translation adjustment through “Other comprehensive (loss) income, net of tax” was $(1.2) million and $0.3 million in the three months ended September 28, 2024 and September 30, 2023, respectively. Net realized and unrealized foreign currency transaction gains (losses) included in “Other, net” were $4.1 million and $(2.5) million in the three months ended September 28, 2024 and September 30, 2023, respectively.

Foreign currency translation (loss) gain, net of tax, reported as cumulative translation adjustment through “Other comprehensive (loss) income, net of tax” was $(0.3) million and $0.1 million in the nine months ended September 28, 2024 and September 30, 2023, respectively. Net realized and unrealized foreign currency transaction gains (losses) included in “Other, net” were $0.6 million and $(3.3) million in the nine months ended September 28, 2024 and September 30, 2023, respectively.

Fair Value of Financial Instruments

The Company had no financial instruments measured at fair value on a recurring basis at September 28, 2024 and December 31, 2023.

There were no transfers of financial assets or liabilities into or out of Level 1, Level 2 or Level 3 in the three and nine months ended September 28, 2024 and September 30, 2023.

Restricted Cash

Restricted cash includes cash held as collateral for stand-alone letter of credit agreements related to normal business transactions. The agreements require the Company to maintain specified amounts of cash as collateral in segregated accounts to support the letters of credit issued thereunder. The Company had $13.2 million in restricted cash as of September 28, 2024, which was comprised of $12.6 million to secure the letter of credit delivered to the landlord as security for the performance of its obligations under the Campus Lease, recorded in “Restricted cash, non-current” (see Note 9), and $0.6 million to secure a letter of credit associated with a third party contract manufacturer in Europe, recorded in “Restricted cash, current” in the Company’s condensed consolidated balance sheet. In the nine months ended September 28, 2024, the letter of credit associated with the third party contract manufacturer was renegotiated and reduced from $2.8 million at December 31, 2023 to $0.6 million at September 28, 2024.

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 $5.2 million and

$6.9 million as of September 28, 2024 and December 31, 2023, 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				Nine Months Ended
(in thousands)	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
U.S.:
Retail	$	34,969	$	30,518	$	116,926	$	123,167
Foodservice	14,478		12,535		37,132		39,974
U.S. net revenues	49,447		43,053		154,058		163,141
International:
Retail	16,565		14,153		46,728		48,437
Foodservice	14,994		18,106		49,008		58,119
International net revenues	31,559		32,259		95,736		106,556
Net revenues	$	81,006	$	75,312	$	249,794	$	269,697

Two distributors accounted for approximately 15% and 11%, respectively, of the Company’s gross revenues in the three months ended September 28, 2024; and one distributor accounted for approximately 12% of the Company’s gross revenues in the three months ended September 30, 2023. One distributor accounted for approximately 13% of the Company’s gross revenues in the nine months ended September 28, 2024; and one distributor accounted for approximately 12% of the Company’s gross revenues in the nine months ended September 30, 2023. No other customer or distributor accounted for more than 10% of the Company’s gross revenues in the three and nine months ended September 28, 2024 and September 30, 2023.

Earnings (Loss) Per Share

Earnings (loss) per share (“EPS”) represents net income available to common stockholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS represents net income available to common stockholders divided by the weighted-average number of common shares outstanding, inclusive of the dilutive impact of potential common shares outstanding during the period. Such potential common shares include options, restricted stock units (“RSUs”) and PSUs.

In periods when the Company records net loss, all potential common shares are excluded in the computation of EPS because their inclusion would be anti-dilutive. See Note 11.

Prepaid Expenses

Prepaid expenses primarily include prepaid insurance and other prepaid vendor costs, which are expensed in the period to which they relate. Prepaid expenses are included under the caption “Prepaid expenses and other current assets” in the Company’s condensed consolidated balance sheets and were $6.4 million and $8.3 million as of September 28, 2024 and December 31, 2023, respectively.

Shipping and Handling Costs

The Company does not bill its distributors or customers shipping and handling fees. The Company’s products are predominantly shipped to its distributors or customers as “FOB Destination,” with control of the products transferred to the customer at the destination. In-bound shipping and handling costs incurred in manufacturing a product are included in inventory and reflected in cost of goods sold when the sale of

that product is recognized. Outbound shipping and handling costs are considered as fulfillment costs and are recorded in selling, general and administrative (“SG&A”) expenses. Outbound shipping and handling costs included in SG&A expenses in the three months ended September 28, 2024 and September 30, 2023 were $1.7 million and $2.8 million, respectively. Outbound shipping and handling costs included in SG&A expenses in the nine months ended September 28, 2024 and September 30, 2023 were $5.6 million and $8.8 million, respectively.

Share-Based Compensation

The Company measures all share-based compensation cost at the grant date, based on the fair values of the awards that are ultimately expected to vest, and recognizes that cost as an expense in its condensed consolidated statements of operations over the requisite service period. The Company estimates the fair value of option awards using the Black-Scholes option valuation model, which requires management to make certain assumptions for estimating the fair value of stock options at the date of grant including the fair value and projected volatility of the underlying common stock and the expected term of the award. The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. Because the Company’s stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimates, in management’s opinion, the existing models may not necessarily provide a reliable single measure of the fair value of the Company’s stock options. Although the fair value of stock options is determined using an option valuation model, that value may not be indicative of the fair value observed in a willing buyer/willing seller market transaction.

The Company recognizes the closing price of the Company’s stock on the grant date as the fair value of RSUs.

The Company estimates the expected impact of forfeited awards and recognizes share-based compensation cost only for those stock option and RSU awards ultimately expected to vest. If actual forfeiture rates differ materially from the Company’s estimates, share-based compensation expense could differ significantly from the amounts the Company has recorded in the current period. The Company periodically reviews actual forfeiture experience and will revise its estimates, as necessary. The Company will recognize as compensation cost the cumulative effect of the change in estimated forfeiture rates on current and prior periods in earnings of the period of revision. As a result, if the Company revises its assumptions and estimates, the Company’s share-based compensation expense could change materially in the future. See Note 8.

The Company estimates the fair value of PSUs using the Monte Carlo valuation model. The market-based performance condition used for these awards is based upon the total shareholder return (“TSR”) of Beyond Meat versus the TSR of a peer group over performance periods which is considered to be a market condition under Accounting Standards Codification (“ASC”) 718 “Compensation—Stock Compensation.” The effect of the market condition is considered in determining the award’s grant date fair value, which is not subsequently revised based on actual performance for stock settled awards. The expense is therefore fixed at the time of grant in relation to this feature. The expense may only be adjusted for any service-related forfeitures.

New Accounting Pronouncements

In October 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-06 “Disclosure Improvements—Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative” (“ASU 2023-06”), which provides amendments to the Codification in response to the 2018 SEC release No. 33-10532, “Disclosure Update and Simplification.” The amendments modify the disclosure and presentation requirements of a variety of Topics in the Codification and apply to all

reporting entities within the scope of the affected Topics. ASU 2023-06 is effective for companies that are subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or purpose of issuing securities on the date which the SEC removes the related disclosure from Regulation S-X or Regulation S-K. Early adoption is prohibited. For all other entities, the amendments are effective two years later. If the SEC has not removed the applicable disclosure from Regulation S-X or Regulation S-K by June 30, 2027, the pending content related to ASU 2023-06 will not become effective for any entity and will be removed from the Codification. Adoption of ASU 2023-06 is expected to modify the disclosure and presentation requirements only and is not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which requires the disclosure of significant segment expenses that are part of an entity’s segment measure of profit or loss and regularly provided to the chief operating decision maker. In addition, it adds or makes clarifications to other segment-related disclosures, such as clarifying that the disclosure requirements in Topic 280 are required for entities with a single reportable segment and that an entity may disclose multiple measures of segment profit and loss. The amendments in ASU 2023-07 apply to all public entities that are required to report segment information in accordance with Topic 280, Segment Reporting. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods beginning after December 15, 2024. Early adoption is permitted. The amendments should be adopted retrospectively. ASU 2023-07 is effective for the Company beginning January 1, 2024 and interim periods beginning January 1, 2025. Adoption of ASU 2023-07 is expected to modify the disclosure and presentation requirements only and is not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740)—Improvements to Income Tax Disclosures” (“ASU 2023-09”) which amends the Codification to enhance the transparency and decision usefulness of income tax disclosures. ASU 2023-09 requires additional disaggregation of the reconciliation between the statutory and effective tax rate for an entity and of income taxes paid, both of which are disclosures required by current GAAP. The amendments improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments in ASU 2023-09 apply to all entities that are subject to Topic 740, Income Taxes. For public business entities, the amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. ASU 2023-09 is effective for the Company beginning January 1, 2025. Adoption of ASU 2023-09 is expected to enhance the usefulness of income tax disclosures and is not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

In March 2024, the FASB issued ASU 2024-02 “Codification Improvements—Amendments to Remove References to the Concepts Statements” (“ASU 2024-02”) which amends the Codification to remove references to various FASB Concept Statements. The amendments in ASU 2024-02 are considered to be Codification improvements only. The amendments in ASU 2024-02 apply to all reporting entities within the scope of the affected accounting guidance and are effective for the Company for fiscal years beginning after December 15, 2024. Early application of the amendments in ASU 2024-02 is permitted for all entities for any fiscal year or interim period for which financial statements have not yet been issued or made available for issuance. Adoption of ASU 2024-02 is not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Recently Adopted Accounting Pronouncements

None.

Debt - Schedule of Convertible Senior Notes (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 05, 2021
Debt Instrument [Line Items]
Unamortized Issuance Costs	$ 9,507	$ 12,458
Total debt outstanding	1,140,493	1,137,542
Level 2 \| Recurring
Debt Instrument [Line Items]
Fair Value	184,000
Convertible Notes
Debt Instrument [Line Items]
Principal Amount	$ 1,150,000	$ 1,150,000	$ 1,150,000
Unamortized Issuance Costs				$ 23,600
Convertible Notes \| Convertible Notes
Debt Instrument [Line Items]
Stated rate	0.00%
Principal Amount	$ 1,150,000
Unamortized Issuance Costs	9,507
Total debt outstanding	$ 1,140,493

Leases - Schedule of Components of Lease and Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Lease Cost
Operating lease cost	$ 4,583	$ 4,433	$ 13,533	$ 12,207
Short-term lease cost	193	109	399	332
Interest on lease liabilities	45	5	122	16
Finance lease cost	319	61	876	189
Total lease cost	$ 5,095	4,603	$ 14,808	12,728
Operating Leases
Weighted average remaining lease term (years)	13 years 4 months 24 days		13 years 4 months 24 days
Weighted average discount rate	6.90%		6.90%
Finance Leases
Weighted average remaining lease term (years)	4 years 2 months 12 days		4 years 2 months 12 days
Weighted average discount rate	4.20%		4.20%
Cost of goods sold
Lease Cost
Lease cost	$ 424	399	$ 1,246	1,210
Variable lease cost	65	54	181	177
Short-term lease cost	23	21	67	63
Amortization of right-of use assets	267	49	733	154
Variable lease cost	3	3	9	8
Research and development expenses
Lease Cost
Lease cost	2,383	2,507	7,151	6,979
Variable lease cost	0	21	6	104
Short-term lease cost	26	37	80	121
Amortization of right-of use assets	4	4	11	11
Variable lease cost			1	0
Selling, general and administrative expenses
Lease Cost
Lease cost	612	820	1,890	1,937
Variable lease cost	1,099	632	3,059	1,800
Short-term lease cost	$ 144	$ 51	$ 252	$ 148

Debt - Schedule of Debt Balances (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 05, 2021
Debt Instrument [Line Items]
Debt issuance costs	$ (9,507)	$ (12,458)
Total debt outstanding	1,140,493	1,137,542
Less: current portion of long-term debt	0	0
Long-term debt	1,140,493	1,137,542
Convertible Notes
Debt Instrument [Line Items]
0% Convertible senior notes	$ 1,150,000	$ 1,150,000	$ 1,150,000
Debt issuance costs				$ (23,600)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Stockholders’ Deficit (Tables)

9 Months Ended

Sep. 28, 2024

Equity [Abstract]

Schedule of Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consisted of the following:


	September 28, 2024	December 31, 2023
Equity incentive compensation awards granted and outstanding	8,032,742	5,888,077
Shares available for grant under the 2018 Equity Incentive Plan(1)	7,462,253	8,230,500
Shares available for issuance under the Employee Stock Purchase Plan	3,484,845	2,948,715
Shares reserved for potential issuance under the Notes	8,234,230	8,234,230
Total common stock reserved for future issuance(1)(2)	27,214,070	25,301,522

_________________

(2) Total common stock reserved for future issuance does not include shares that may be issued pursuant to the ATM Program discussed below.

Property, Plant and Equipment

9 Months Ended

Sep. 28, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

The Company records property, plant and equipment at cost and includes finance lease assets in “Property, plant and equipment, net” in its condensed consolidated balance sheets. A summary of property, plant, and equipment as of September 28, 2024 and December 31, 2023 is as follows:


(in thousands)	September 28, 2024		December 31, 2023
Manufacturing equipment	$	163,969	$	165,028
Research and development equipment	20,690		19,594
Leasehold improvements	18,429		23,898
Building	23,112		22,813
Finance leases	5,477		1,086
Software	2,842		3,568
Furniture and fixtures	934		1,079
Vehicles	594		584
Land	5,491		5,478
Assets not yet placed in service	42,553		43,123
Total property, plant and equipment	$	284,091	$	286,251
Less: accumulated depreciation and amortization	95,976		92,205

Property, plant and equipment, net	$	188,115	$	194,046

Depreciation and amortization expense in the three months ended September 28, 2024 and September 30, 2023 was $5.3 million and $5.8 million, respectively. Of the total depreciation and amortization expense in the three months ended September 28, 2024 and September 30, 2023, $4.7 million and $5.1 million, respectively, were recorded in cost of goods sold, $0.5 million and $0.5 million, respectively, were recorded in research and development expenses, and $0.1 million and $0.2 million, respectively, were recorded in SG&A expenses in the Company’s condensed consolidated statements of operations.

Depreciation and amortization expense in the nine months ended September 28, 2024 and September 30, 2023 was $17.5 million and $17.7 million, respectively. Of the total depreciation and amortization expense in the nine months ended September 28, 2024 and September 30, 2023, $15.3 million and $15.7 million, respectively, were recorded in cost of goods sold, $1.5 million and $1.4 million, respectively, were recorded in research and development expenses, and $0.7 million and $0.6 million, respectively, were recorded in SG&A expenses in the Company’s condensed consolidated statements of operations.

The Company had $2.3 million and $4.5 million in property, plant and equipment concluded to meet the criteria for assets held for sale as of September 28, 2024 and December 31, 2023, respectively. The Company recorded $0.1 million in loss on sale of fixed assets in each of the three months ended September 28, 2024 and September 30, 2023, and recorded $0.5 million and $3.9 million in loss on sale of fixed assets in the nine months ended September 28, 2024 and September 30, 2023, respectively.

Introduction (Details)	9 Months Ended
Introduction (Details)	Sep. 28, 2024 globeIssue
Concentration Risk [Line Items]
Number of growing global issues	4
United States \| Long-Lived Assets \| Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk	84.00%

Share-Based Compensation - Narrative (Details)			1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
Share-Based Compensation - Narrative (Details)	Jan. 01, 2024 shares	Dec. 30, 2023 USD ($)	Mar. 30, 2024 USD ($)	Sep. 28, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Sep. 28, 2024 USD ($) performancePeriod shares	Sep. 30, 2023 USD ($)	Dec. 31, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (in shares)	25,204,961
Stock options outstanding (in shares)				5,406,662		5,406,662		4,477,120
Shares issued for stock option exercises (in shares)						9,677,136		9,048,906
Shares available for grant (in shares)				7,462,253		7,462,253		8,230,500
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issuable (in shares)				2,400,113		2,400,113		1,411,310
Share-based compensation expense \| $				$ 3,400,000	$ 4,400,000	$ 10,700,000	$ 14,800,000
Unrecognized compensation expense, period of recognition						1 year 3 months 18 days
Unrecognized compensation expense \| $				19,300,000		$ 19,300,000
RSUs \| New Employees \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period							4 years
RSUs \| Employees \| First Anniversary \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage						25.00%	25.00%
RSUs \| Employees \| Thereafter \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						3 years	3 years
RSUs \| Continuing Employees \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						1 year
RSUs \| Continuing Employees \| First Anniversary \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage						50.00%	50.00%
RSUs \| Board of Directors \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						1 year	1 year
RSUs \| New Board of Directors \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						3 years	3 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense \| $				2,000,000	$ 2,100,000	$ 5,700,000	$ 9,000,000.0
Unrecognized compensation expense \| $				$ 12,100,000		$ 12,100,000
Unrecognized compensation expense, period of recognition						1 year 2 months 12 days
Stock Options \| New Employees \| First Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage						25.00%	25.00%
Stock Options \| New Employees \| Thereafter
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						3 years	3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issuable (in shares)				225,967		225,967		0
Vesting percentage						200.00%
Share-based compensation expense \| $		$ 0		$ 600,000		$ 1,300,000
Unrecognized compensation expense \| $				$ 1,900,000		$ 1,900,000
Unrecognized compensation expense, period of recognition						1 year 6 months
Total grant fair value \| $			$ 3,300,000
Number of performance period \| performancePeriod						3
Total expense \| $						$ 1,100,000
Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage						0.00%
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage						200.00%
Performance Shares \| First Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						1 year
Award requisite service period (in months)						10 months
Performance Shares \| Thereafter
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						2 years
Award requisite service period (in months)						22 months
Performance Shares \| Upon Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						3 years
Award requisite service period (in months)						34 months
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized (in shares)	2,144,521					2,144,521
Shares available for grant (in shares)				7,462,253		7,462,253		8,230,500
2018 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)				3,484,845		3,484,845		2,948,715
2018 ESPP \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (in shares)				3,484,845		3,484,845
Number of additional shares authorized per year (in shares)	536,130
2018 ESPP \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issuable (in shares)				225,967		225,967
Vesting percentage						200.00%

Related Party Transactions (Details) - Affiliated Entity - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Revenue from related parties	$ 0.0	$ 0.0	$ 0.0	$ 5.3
Non-refundable up-front fee			$ 2.0	$ 2.0

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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+ Details

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 28, 2024
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, 2024 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 2023 10-K. The condensed consolidated balance sheet as of December 31, 2023 has been derived from the audited financial statements at that date.
Principles of Consolidation	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	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 fixed assets; 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 and performance stock units (“PSUs”) 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 (loss) gain, net of tax, reported as cumulative translation adjustment through “Other comprehensive (loss) income, net of tax” was $(1.2) million and $0.3 million in the three months ended September 28, 2024 and September 30, 2023, respectively. Net realized and unrealized foreign currency transaction gains (losses) included in “Other, net” were $4.1 million and $(2.5) million in the three months ended September 28, 2024 and September 30, 2023, respectively. Foreign currency translation (loss) gain, net of tax, reported as cumulative translation adjustment through “Other comprehensive (loss) income, net of tax” was $(0.3) million and $0.1 million in the nine months ended September 28, 2024 and September 30, 2023, respectively. Net realized and unrealized foreign currency transaction gains (losses) included in “Other, net” were $0.6 million and $(3.3) million in the nine months ended September 28, 2024 and September 30, 2023, respectively.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company had no financial instruments measured at fair value on a recurring basis at September 28, 2024 and December 31, 2023.
Restricted Cash	Restricted Cash Restricted cash includes cash held as collateral for stand-alone letter of credit agreements related to normal business transactions. The agreements require the Company to maintain specified amounts of cash as collateral in segregated accounts to support the letters of credit issued thereunder.
Revenue Recognition	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 $5.2 million and $6.9 million as of September 28, 2024 and December 31, 2023, respectively. The offsetting charge is recorded as a reduction of revenues in the same period when the expense is incurred. Shipping and Handling Costs The Company does not bill its distributors or customers shipping and handling fees. The Company’s products are predominantly shipped to its distributors or customers as “FOB Destination,” with control of the products transferred to the customer at the destination. In-bound shipping and handling costs incurred in manufacturing a product are included in inventory and reflected in cost of goods sold when the sale of that product is recognized. Outbound shipping and handling costs are considered as fulfillment costs and are recorded in selling, general and administrative (“SG&A”) expenses.
Earnings (Loss) Per Share	Earnings (Loss) Per Share Earnings (loss) per share (“EPS”) represents net income available to common stockholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS represents net income available to common stockholders divided by the weighted-average number of common shares outstanding, inclusive of the dilutive impact of potential common shares outstanding during the period. Such potential common shares include options, restricted stock units (“RSUs”) and PSUs. In periods when the Company records net loss, all potential common shares are excluded in the computation of EPS because their inclusion would be anti-dilutive.
Prepaid Expenses	Prepaid Expenses Prepaid expenses primarily include prepaid insurance and other prepaid vendor costs, which are expensed in the period to which they relate.
Share-Based Compensation	Share-Based Compensation The Company measures all share-based compensation cost at the grant date, based on the fair values of the awards that are ultimately expected to vest, and recognizes that cost as an expense in its condensed consolidated statements of operations over the requisite service period. The Company estimates the fair value of option awards using the Black-Scholes option valuation model, which requires management to make certain assumptions for estimating the fair value of stock options at the date of grant including the fair value and projected volatility of the underlying common stock and the expected term of the award. The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. Because the Company’s stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimates, in management’s opinion, the existing models may not necessarily provide a reliable single measure of the fair value of the Company’s stock options. Although the fair value of stock options is determined using an option valuation model, that value may not be indicative of the fair value observed in a willing buyer/willing seller market transaction. The Company recognizes the closing price of the Company’s stock on the grant date as the fair value of RSUs. The Company estimates the expected impact of forfeited awards and recognizes share-based compensation cost only for those stock option and RSU awards ultimately expected to vest. If actual forfeiture rates differ materially from the Company’s estimates, share-based compensation expense could differ significantly from the amounts the Company has recorded in the current period. The Company periodically reviews actual forfeiture experience and will revise its estimates, as necessary. The Company will recognize as compensation cost the cumulative effect of the change in estimated forfeiture rates on current and prior periods in earnings of the period of revision. As a result, if the Company revises its assumptions and estimates, the Company’s share-based compensation expense could change materially in the future. See Note 8. The Company estimates the fair value of PSUs using the Monte Carlo valuation model. The market-based performance condition used for these awards is based upon the total shareholder return (“TSR”) of Beyond Meat versus the TSR of a peer group over performance periods which is considered to be a market condition under Accounting Standards Codification (“ASC”) 718 “Compensation—Stock Compensation.” The effect of the market condition is considered in determining the award’s grant date fair value, which is not subsequently revised based on actual performance for stock settled awards. The expense is therefore fixed at the time of grant in relation to this feature. The expense may only be adjusted for any service-related forfeitures.
New Accounting Pronouncements and Recently Adopted Accounting Pronouncements	New Accounting Pronouncements In October 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-06 “Disclosure Improvements—Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative” (“ASU 2023-06”), which provides amendments to the Codification in response to the 2018 SEC release No. 33-10532, “Disclosure Update and Simplification.” The amendments modify the disclosure and presentation requirements of a variety of Topics in the Codification and apply to all reporting entities within the scope of the affected Topics. ASU 2023-06 is effective for companies that are subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or purpose of issuing securities on the date which the SEC removes the related disclosure from Regulation S-X or Regulation S-K. Early adoption is prohibited. For all other entities, the amendments are effective two years later. If the SEC has not removed the applicable disclosure from Regulation S-X or Regulation S-K by June 30, 2027, the pending content related to ASU 2023-06 will not become effective for any entity and will be removed from the Codification. Adoption of ASU 2023-06 is expected to modify the disclosure and presentation requirements only and is not expected to have a material impact on the Company’s financial position, results of operations or cash flows. In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which requires the disclosure of significant segment expenses that are part of an entity’s segment measure of profit or loss and regularly provided to the chief operating decision maker. In addition, it adds or makes clarifications to other segment-related disclosures, such as clarifying that the disclosure requirements in Topic 280 are required for entities with a single reportable segment and that an entity may disclose multiple measures of segment profit and loss. The amendments in ASU 2023-07 apply to all public entities that are required to report segment information in accordance with Topic 280, Segment Reporting. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods beginning after December 15, 2024. Early adoption is permitted. The amendments should be adopted retrospectively. ASU 2023-07 is effective for the Company beginning January 1, 2024 and interim periods beginning January 1, 2025. Adoption of ASU 2023-07 is expected to modify the disclosure and presentation requirements only and is not expected to have a material impact on the Company’s financial position, results of operations or cash flows. In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740)—Improvements to Income Tax Disclosures” (“ASU 2023-09”) which amends the Codification to enhance the transparency and decision usefulness of income tax disclosures. ASU 2023-09 requires additional disaggregation of the reconciliation between the statutory and effective tax rate for an entity and of income taxes paid, both of which are disclosures required by current GAAP. The amendments improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments in ASU 2023-09 apply to all entities that are subject to Topic 740, Income Taxes. For public business entities, the amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. ASU 2023-09 is effective for the Company beginning January 1, 2025. Adoption of ASU 2023-09 is expected to enhance the usefulness of income tax disclosures and is not expected to have a material impact on the Company’s financial position, results of operations or cash flows. In March 2024, the FASB issued ASU 2024-02 “Codification Improvements—Amendments to Remove References to the Concepts Statements” (“ASU 2024-02”) which amends the Codification to remove references to various FASB Concept Statements. The amendments in ASU 2024-02 are considered to be Codification improvements only. The amendments in ASU 2024-02 apply to all reporting entities within the scope of the affected accounting guidance and are effective for the Company for fiscal years beginning after December 15, 2024. Early application of the amendments in ASU 2024-02 is permitted for all entities for any fiscal year or interim period for which financial statements have not yet been issued or made available for issuance. Adoption of ASU 2024-02 is not expected to have a material impact on the Company’s financial position, results of operations or cash flows. Recently Adopted Accounting Pronouncements None.

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 28, 2024	Dec. 31, 2023
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)	65,171,128	64,624,140
Common stock, outstanding (in shares)	65,171,128	64,624,140

Share-Based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 28, 2024	Dec. 31, 2023
Number of Stock Options
Outstanding, beginning balance (in shares)	4,477,120
Granted (in shares)	1,069,541
Exercised (in shares)	(6,033)
Canceled/Forfeited (in shares)	(133,966)
Outstanding, ending balance (in shares)	5,406,662	4,477,120
Vested and exercisable (in shares)	3,482,392
Vested and expected to vest (in shares)	4,818,333
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 23.04
Granted (in dollars per share)	9.33
Exercised (in dollars per share)	3.00
Canceled/Forfeited (in dollars per share)	31.89
Outstanding, ending balance (in dollars per share)	20.13	$ 23.04
Vested and exercisable (in dollars per share)	23.29
Vested and expected to vest (in dollars per share)	$ 21.32
Weighted Average Remaining Contractual Life (Years)
Outstanding	5 years 7 months 6 days	5 years 4 months 24 days
Vested and exercisable	3 years 8 months 12 days
Vested and expected to vest	5 years 1 month 6 days
Aggregate Intrinsic Value
Outstanding, beginning balance	$ 12,915
Exercised	23
Outstanding, ending balance	9,639	$ 12,915
Vested and exercisable	9,544
Vested and expected to vest	$ 9,591

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net revenues	$ 81,006	$ 75,312	$ 249,794	$ 269,697
Cost of goods sold	66,698	82,566	218,101	268,493
Gross profit (loss)	14,308	(7,254)	31,693	1,204
Research and development expenses	6,133	9,118	21,478	30,323
Selling, general and administrative expenses	39,084	53,252	128,529	152,607
Restructuring expenses	0	(4)	0	(631)
Total operating expenses	45,217	62,366	150,007	182,299
Loss from operations	(30,909)	(69,620)	(118,314)	(181,095)
Other income (expense), net:
Interest expense	(1,028)	(989)	(3,072)	(2,967)
Other, net	5,405	243	6,005	4,897
Total other income (expense), net	4,377	(746)	2,933	1,930
Loss before taxes	(26,532)	(70,366)	(115,381)	(179,165)
Income tax expense (benefit)	6	0	(26)	5
Equity in losses of unconsolidated joint venture	38	126	61	3,864
Net loss	$ (26,576)	$ (70,492)	$ (115,416)	$ (183,034)
Net loss per share available to common stockholders—basic (in dollars per share)	$ (0.41)	$ (1.09)	$ (1.78)	$ (2.85)
Net loss per share available to common stockholders—diluted (in dollars per share)	$ (0.41)	$ (1.09)	$ (1.78)	$ (2.85)
Weighted average common shares outstanding—basic (in shares)	65,060,729	64,398,448	64,880,008	64,210,809
Weighted average common shares outstanding—diluted (in shares)	65,060,729	64,398,448	64,880,008	64,210,809

Stockholders’ Deficit - Shelf Registration Narrative (Details) - ATM Program $ in Millions	1 Months Ended
	May 31, 2023 USD ($)
Subsidiary, Sale of Stock [Line Items]
Issuance of common stock, net	$ 250.0
Goldman Sachs
Subsidiary, Sale of Stock [Line Items]
Percentage of equity distribution agent commission on gross proceed	3.25%
Maximum
Subsidiary, Sale of Stock [Line Items]
Issuance of common stock, net	$ 200.0
Maximum \| Common Stock
Subsidiary, Sale of Stock [Line Items]
Issuance of common stock, net	$ 200.0

- Definition

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 28, 2024	Jun. 29, 2024	Mar. 30, 2024	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 31, 2023
Class of Warrant or Right [Line Items]
Foreign currency translation (loss) gain, net of tax	$ (1,164)	$ 197	$ 673	$ 261	$ (158)	$ 3	$ (294)	$ 106
Foreign currency transaction gains (losses)	4,100			(2,500)			600	(3,300)
Restricted cash	13,200						13,200
Restricted cash, non-current	12,600						12,600		$ 12,600
Restricted cash, current	558						558		2,830
Liability for estimated sales discounts	5,200						5,200		6,900
Prepaid expense, current	6,400						6,400		$ 8,300
Cost of goods sold	66,698			82,566			218,101	268,493
Shipping and Handling
Class of Warrant or Right [Line Items]
Cost of goods sold	$ 1,700			$ 2,800			$ 5,600	$ 8,800
Distributor One \| Revenue \| Customer Concentration Risk
Class of Warrant or Right [Line Items]
Concentration risk	15.00%			12.00%			13.00%	12.00%
Distributor Two \| Revenue \| Customer Concentration Risk
Class of Warrant or Right [Line Items]
Concentration risk	11.00%

Leases - Schedule of Future Maturities of Operating Lease and Financial Lease Liabilities (Details) $ in Thousands	Sep. 28, 2024 USD ($)
Operating Leases
Remainder of 2024	$ 2,210
2025	8,653
2026	8,507
2027	8,330
2028	8,381
Thereafter	89,018
Total undiscounted future minimum lease payments	125,099
Less imputed interest	(46,490)
Total discounted future minimum lease payments	78,609
Finance Leases
Remainder of 2024	397
2025	1,201
2026	1,096
2027	1,064
2028	1,024
Thereafter	9
Total undiscounted future minimum lease payments	4,791
Less imputed interest	(378)
Total discounted future minimum lease payments	$ 4,413

Share-Based Compensation - Schedule of Fair Value Assumptions (Details)	3 Months Ended	9 Months Ended
	Sep. 28, 2024	Sep. 28, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Risk-free interest rate	3.90%	4.30%	4.10%
Average expected term (years)	7 years	7 years	7 years
Expected volatility	55.30%	55.00%	55.30%

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 28, 2024	Nov. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 28, 2024
Document Transition Report	false
Entity File Number	001-38879
Entity Registrant Name	BEYOND MEAT, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-4087597
Entity Address, Address Line One	888 N. Douglas Street, Suite 100
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		65,203,317
Entity Central Index Key	0001655210
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 28, 2024	Jun. 29, 2024	Mar. 30, 2024	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Sep. 28, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net loss	$ (26,576)	$ (34,479)	$ (54,361)	$ (70,492)	$ (53,505)	$ (59,037)	$ (115,416)	$ (183,034)

- Definition

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

+ References

+ Details

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 28, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases See Note 3. 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 Campus Headquarters. Under the terms of the Campus Lease, the Company will lease an aggregate of approximately 282,000 rentable square feet in a portion of a building located at 888 N. Douglas Street, El Segundo, California, to be built out by the Landlord and delivered to the Company in multiple phases. In 2022 and in the second quarter of 2023, the tenant improvements associated with Phase 1-A and Phase 1-B, respectively, were completed and the underlying assets were delivered to the Company. Therefore, the Company began recognizing a right-of-use asset and lease liability for Phase 1-A in its condensed consolidated balance sheet in the year ended December 31, 2022 and for Phase 1-B in its condensed consolidated balance sheet in the second quarter ended July 1, 2023. See Note 3. On September 17, 2024, the Company entered into an amendment to the Campus Lease, which amendment: (i) revised the square footage of the premises, building and project to: (a) increase the Company’s base rent by approximately $851,000 over the initial lease term; (b) adjust the Company’s percentage share of direct expenses; and (c) increase the tenant improvement allowance to reflect a reduction in the scope of landlord’s work; (ii) specify which improvements must be removed by the Company from the premises if the premises are not occupied in their entirety throughout the initial lease term and first extension term; and (iii) address other ministerial matters concerning the Campus Lease. Aggregate payments towards base rent over the initial lease term associated with the remaining phases not yet delivered to the Company will be approximately $79.6 million. Concurrent with the Company’s execution of the Campus Lease, the Company delivered to the Landlord a letter of credit in the amount of $12.5 million as security for the performance of its obligations under the Campus Lease, 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. The letter of credit is secured by a $12.6 million deposit included in the Company’s condensed consolidated balance sheets as “Restricted cash, non-current” as of September 28, 2024 and December 31, 2023. Given the Company’s intention to reduce its overall operating expenses and cash expenditures, on February 2, 2024, the Company terminated the agreement to purchase the Enschede Property and the security deposit was returned to the Company, which was subsequently paid to the purchaser of the property to be applied towards the deposit and future lease payments. The Company entered into a lease agreement with the purchaser of the property to lease the approximately 114,000 square foot property for an initial period of five years with an option to renew for an additional five years at an annual rent of approximately €1.0 million. See Note 3. China Investment and Lease Agreement On September 22, 2020, the Company and its 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. In the three and nine months ended September 28, 2024, BYND JX received $0 and $0.5 million, respectively, in subsidies from the JXEDZ Finance Bureau. No such subsidies were received in the three and nine months ended September 30, 2023. During Phase 1, the Company agreed to invest $10.0 million as the registered capital of BYND JX in the JXEDZ through intercompany investment in BYND JX and BYND JX 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 a JXEDZ company, pursuant to which BYND JX agreed to lease and renovate a facility in the JXEDZ and lease it for a minimum of two years. In the year ended December 31, 2022, the lease was amended to extend the term for an additional five years without rent escalation. In the fourth quarter of 2021, BYND JX leased an approximately 12,000 square foot facility in Shanghai, China, for a period of eight years, which is used as a local research and development facility to support the local manufacturing operations. As of September 28, 2024, the Company had invested $22.0 million as the registered capital of BYND JX and advanced $20.0 million to BYND JX. 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 to $40.0 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 the Planet Partnership, LLC (“TPP”), a joint venture with PepsiCo, Inc. (“PepsiCo”) to develop, produce and market innovative snack and beverage products made from plant-based protein. In the three months ended September 28, 2024 and September 30, 2023, the Company recognized its share of the net losses in TPP in the amount of $38,000 and $0.1 million, respectively. In the nine months ended September 28, 2024 and September 30, 2023, the Company recognized its share of the net losses in TPP in the amount of $61,000 and $3.9 million, respectively. As of September 28, 2024 and December 31, 2023, the Company had contributed its share of the investment in TPP in the amount of $27.6 million. See Note 12. In 2023, as part of its review of its global operations (the “Global Operations Review”), the Company made the decision to discontinue the Beyond Meat Jerky product line. Purchase Commitments On July 1, 2023, the Company and Roquette Frères entered into a second amendment (the “Second Amendment”) to the Company’s existing pea protein supply agreement dated January 10, 2020, as amended by the first amendment dated August 3, 2022 (the “First Amendment”). Pursuant to the Second Amendment, the terms of the agreement and existing purchase commitments set forth in the First Amendment were revised and extended through December 31, 2025. Pursuant to the Second Amendment, the purchase commitment was revised such that the Company has committed to purchase pea protein inventory totaling $2.7 million in the remainder of 2024 and $17.1 million in 2025. On April 6, 2022, the Company entered into a co-manufacturing agreement (“Agreement”) with a co-manufacturer to manufacture various products for the Company. The Agreement included a minimum order quantity commitment per month and an aggregate quantity over a five-year term. On November 21, 2023, the Company terminated the Agreement because the co-manufacturer failed to meet its obligations under the Agreement and recorded $4.4 million in termination-related charges. In March 2024, the co-manufacturer brought an action against the Company in a confidential arbitration proceeding. See Litigation—Arbitration with Former Co-Manufacturer. Litigation In connection with the matters described below, the Company has accrued for loss contingencies where it believes that losses are probable and estimable. No loss contingency is recorded for matters where such losses are either not probable or reasonably estimable (or both). Although it is reasonably possible that actual losses could be in excess of the Company’s accrual, the Company is unable to estimate a reasonably possible loss or range of loss in excess of its accrual, due to various reasons, including, among others, that: (i) the proceedings are in early stages or no claims have been asserted; (ii) specific damages have not been sought in all of these matters; (iii) damages, if asserted, are considered unsupported and/or exaggerated; (iv) there is uncertainty as to the outcome of pending appeals, motions or settlements; (v) there are significant factual issues to be resolved; and/or (vi) there are novel legal issues or unsettled legal theories presented. It is not possible to predict the ultimate outcome of all pending legal proceedings, and some of the matters discussed below seek or may seek potentially large and/or indeterminate amounts. Any such loss or excess loss could have a material effect on the Company’s results of operations or cash flows or on the Company’s financial condition. In addition to the matters described below, 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 other matters that are pending or asserted will have a material effect on its financial statements. Aliments BVeggie, Inc. In November 2023, Aliments BVeggie, Inc. (“BVeggie”) filed and served legal proceedings against the Company before the Superior Court of Quebec’s District of Montreal. BVeggie alleges, among other things that: (i) in 2019, the Company and BVeggie entered into a co-manufacturing agreement, by which BVeggie would produce and deliver products for the benefit of the Company, in exchange for a tolling fee to be paid per pound of product produced and delivered to the Company; (ii) the Company would have made false and misleading statements regarding the volume of purchase orders it would provide BVeggie; (iii) BVeggie invested significant sums to adapt its facilities for the intended production; (iv) the Company fell short of its undertakings and promises; and (v) in March 2023, the Company illegally terminated the business relationship. BVeggie intends to claim damages in the total amount of 129,841,920 CAD, in compensation for its investments, lost profits and the repairs needed to be made to its facility post-termination of the business relationship and removal of the Company’s equipment. The case is at a preliminary stage. The Company intends to vigorously defend against these claims. On December 7, 2023, the Company filed a motion for declinatory exception to stay the proceedings pending before the Superior Court of Quebec, district of Montreal, and refer the dispute to arbitration in California. A hearing on the motion for declinatory exception occurred on April 25, 2024. By judgment dated May 9, 2024, the Superior Court of Quebec granted the motion for declinatory exception filed by the Company and declared that the courts sitting in Los Angeles County, in the State of California, are in a better position to decide the dispute. BVeggie appealed the court’s decision on June 7, 2024, and the Company filed a cross-appeal on June 18, 2024. The appeals are expected to be heard by the end of 2025. The litigation in Quebec is currently suspended pending the outcome of the appeals. In June 2024 and in parallel to the litigation mentioned above, BVeggie filed and served legal proceedings against the Company before the Superior Court of Quebec’s District of Montreal, asking that an agreement between the parties by which BVeggie was to purchase certain machinery from the Company, in the amount of $5.1 million, be voided. This litigation is also currently suspended pending the outcome of the aforementioned appeals. Saskatchewan Healthcare Employees’ Pension Plan v. Beyond Meat, Inc. et al. On May 11, 2023, a class action complaint was filed against the Company and certain current and former officers and directors in the United States District Court for the Central District of California, captioned Retail Wholesale Department Store Union Local 338 Retirement Fund v. Beyond Meat, Inc., et al., Case No. 2:23-cv-03602. On July 26, 2023, the Court granted Saskatchewan Healthcare Employees’ Pension Plan’s motion to be appointed lead plaintiff and for its counsel to be appointed lead counsel. On August 9, 2023, the case was re-captioned as Saskatchewan Healthcare Employees’ Pension Plan v. Beyond Meat, Inc., et al., Case No. 2:23-cv-03602 (“SHEPP Action”). On October 9, 2023, the plaintiffs filed a consolidated class action complaint. The complaint alleges, among other things, that the Company and the individual defendants made false and misleading statements or omissions regarding the Company’s ability to manufacture its products at scale and to its partners’ specifications. The complaint seeks an order certifying the class; awarding compensatory damages, interest, costs, expenses, attorneys’ and expert fees; and granting other unspecified equitable or injunctive relief. The complaint alleges causes of action under Sections 10(b), 20(a), and 20A of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), on behalf of a putative class of investors who purchased the Company’s common stock between May 5, 2020 and October 13, 2022, inclusive. On December 8, 2023, the Company and the individual defendants filed a motion to dismiss the consolidated class action complaint. The parties completed briefing on the motion to dismiss in March 2024. On August 9, 2024, the court granted defendants’ motion to dismiss but granted plaintiffs’ leave to amend. Plaintiffs filed a first amended complaint on September 6, 2024, which no longer asserted a claim under Section 20A and which no longer included two of the individual defendants from the original complaint. Defendants filed a motion to dismiss the first amended complaint on September 30, 2024. A hearing is scheduled for November 25, 2024. The Company intends to vigorously defend against these claims. Stockholder Derivative Litigation Actions Following the SHEPP Action, derivative shareholder actions were filed by purported stockholders against the Company and certain directors and officers. On July 21, 2023, a derivative shareholder action was filed against certain current and former officers and directors of the Company in the United States District Court for the Central District of California, captioned Gervat v. Brown, et al., Case No. 2:23-cv-05954 (“Gervat Action”). The Gervat Action alleges substantially similar facts as those alleged in the SHEPP Action. The complaint asserts claims for breach of fiduciary duty, unjust enrichment, and gross mismanagement. It also asserts violations of Section 14(a) of the Exchange Act against a subset of defendants and seeks contribution for violations of Sections10(b) and 21D of the Exchange Act from the individual defendants named in the SHEPP Action. The Company is named as a nominal defendant only. On July 27, 2023, a second derivative shareholder action was filed in the United States District Court for the Central District of California, captioned Brink v. Brown, et al., Case No. 2:23-cv-06110 (“Brink Action”), alleging substantially the same causes of action as alleged in the Gervat Action and facts substantially similar to those alleged in the SHEPP Action. On August 15, 2023, the Gervat and Brink Actions were consolidated into a single matter, with the complaint in the Gervat Action being the operative one, and such consolidated case was captioned In Re Beyond Meat, Inc. Stockholder Derivative Litigation, Case No. 2:23-cv-05954 (“Consolidated Derivative Action”). The Consolidated Derivative Action is stayed pending resolution of the defendants’ motion to dismiss in the SHEPP Action. On August 4, 2023, a third derivative shareholder action was filed in the Superior Court of the State of California for the County of Los Angeles, captioned Moore v. Nelson, et al., Case No. 23STCV18587 (“Moore Action”), alleging causes of action substantially similar to those alleged in the Consolidated Derivative Action and facts substantially similar to those alleged in the SHEPP Action. On January 23, 2024, the plaintiff dismissed the complaint without prejudice. On December 8, 2023, a fourth derivative action was filed in the United States District Court for the District of Delaware, captioned Gilardy v. Brown, et al., Case No. 1:23-cv-01415 (“Gilardy Action”). The Gilardy Action alleges causes of action substantially similar to those alleged in the Consolidated Derivative Action and Moore Action and facts substantially similar to those alleged in the SHEPP Action. The Gilardy Action is stayed pending resolution of the defendants’ motion to dismiss in the SHEPP Action. Litigation Pursuant to Section 220 of the Delaware General Corporation Law (“DGCL”) On November 17, 2023, purported stockholder Christina Brown (“Brown”) issued a books and records demand pursuant to Section 220 of the DGCL seeking documents, including board minutes and materials generally related to the same issues as those raised in the SHEPP Action and related derivative actions. On December 12, 2023, Brown filed a complaint in Delaware Chancery Court naming the Company as defendant and seeking such documents pursuant to Section 220, captioned Brown v. Beyond Meat, Case No. 2023-1262 (Del. Ch.). The parties are currently submitting periodic status reports to the court. The parties filed joint status reports on April 12, 2024, July 9, 2024 and October 7, 2024. A fourth joint status report is due on December 6, 2024. The case is in the preliminary stages. Consumer Class Actions Regarding Protein Claims From May 31, 2022 through January 13, 2023, multiple putative class action lawsuits were filed against the Company in various federal and state courts alleging that the labeling and marketing of certain of the Company’s products is false and/or misleading under federal and/or various states’ laws. Specifically, each of these lawsuits allege one or more of the following theories of liability: (i) that the labels and related marketing of the challenged products misstate the quantitative amount of protein that is provided by each serving of the product; (ii) that the labels and related marketing of the challenged products misstate the percent daily value of protein that is provided by each serving of the product; and (iii) that the Company has represented that the challenged products are “all-natural,” “organic,” or contain no “synthetic” ingredients when they in fact contain methylcellulose, an allegedly synthetic ingredient. The named plaintiffs of each complaint seek to represent classes of nationwide and/or state-specific consumers, and seek on behalf of the putative classes damages, restitution, and injunctive relief, among other relief. Additional complaints asserting these theories of liability are possible. Some lawsuits previously filed were voluntarily withdrawn or dismissed without prejudice, though they may be refiled. On November 14, 2022, the Company filed a motion with the Judicial Panel on Multidistrict Litigation to transfer and consolidate all pending class actions. No party opposed the motion, and the Panel held oral argument on the motion on January 26, 2023. The Panel granted the motion on February 1, 2023, consolidating the pending class action lawsuits and transferring them to Judge Sara Ellis in the Northern District of Illinois for pre-trial proceedings, In re: Beyond Meat, Inc. Protein Content Marketing and Sales Practices Litigation, No. 1:23-cv-00669 (N.D. Ill.) (the “MDL”). On March 3, 2023, the MDL court held the initial status conference. The MDL court granted plaintiffs’ motion to appoint interim class counsel. On May 3, 2023, plaintiffs filed an amended consolidated complaint. The Company’s motion to dismiss was filed on June 5, 2023, and plaintiffs filed a brief in opposition on July 5, 2023. The Company’s reply in support of the motion to dismiss was filed on July 21, 2023. On February 22, 2024, the MDL court issued an order granting in part and denying in part the Company’s motion to dismiss. On March 5, 2024, the parties filed a joint status report noting they had agreed to engage in mediation. On April 24, 2024, the parties engaged in mediation before the Honorable Wayne R. Andersen (Ret.) but did not reach agreement. Negotiations continued and the parties entered into a confidential binding settlement term sheet on May 6, 2024. On July 8, 2024, the parties entered into a class action settlement agreement, pursuant to which the Company has agreed to contribute $7.5 million to a settlement fund in full satisfaction of all settlement costs and attorneys’ fees. On August 5, 2024, the parties filed a motion for preliminary approval of the settlement agreement. The MDL court granted the motion for preliminary approval on August 14, 2024. The deadline for putative class members to object or opt out of the settlement is November 29, 2024. A hearing to determine whether to finally approve the settlement agreement is set for January 23, 2025. If approved, the settlement will resolve the claims of all persons (individuals and/or entities not opting out) who purchased any Beyond Meat product (as defined in the settlement agreement) for household use and not for resale or distribution, from May 31, 2018 to August 14, 2024. Since the settlement is subject to final approval by the MDL court, the timing of payments is uncertain; although the Company paid $250,000 in August 2024, with the remainder anticipated to be paid in 2025. The Company recorded $7.5 million in SG&A expenses in its condensed consolidated statement of operations in the nine months ended September 28, 2024, paid $250,000 in the three months ended September 28, 2024 and included $7.25 million in “Accrued litigation settlement costs” in the Company’s condensed consolidated balance sheet as of September 28, 2024. The active lawsuits, each of which was consolidated and transferred to the MDL and is subject to the class action settlement agreement, are: •Roberts v. Beyond Meat, Inc., No. 1:22-cv-02861 (N.D. Ill.) (filed May 31, 2022) •Cascio v. Beyond Meat, Inc., No. 1:22-cv-04018 (E.D.N.Y.) (filed July 8, 2022) •Miller v. Beyond Meat, Inc., No. 1:22-cv-06336 (S.D.N.Y.) (filed July 26, 2022) •Garcia v. Beyond Meat, Inc., No. 4:22-cv-00297 (S.D. Iowa.) (filed September 9, 2022) •Borovoy v. Beyond Meat, Inc., No. 1:22-cv-06302 (N.D. Ill.) (filed September 30, 2022 in DuPage Co., Ill.; removed on Nov. 10, 2022) •Zakinov v Beyond Meat, Inc., No. 4:23-cv-00144 (S.D. Tex.) (filed January 13, 2023) If the class action settlement agreement is not finally approved by the MDL court, the Company is prepared to vigorously defend against all remaining claims asserted in the complaints. Interbev In October 2020, Interbev, a French trade association for the livestock and meat industry sent a cease-and-desist letter to one of the Company’s contract manufacturers alleging that the use of “meat” and meat-related terms is misleading the French consumer. Despite the Company’s best efforts to reach a settlement, including a formal settlement proposal from the Company in March 2021, the association no longer responded. Instead, on March 13, 2022, the Company was served a summons by Interbev to appear before the Commercial Court of Paris (the “Commercial Court”). The summons alleges that the Company misleads the French consumer with references to e.g. “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. On October 12, 2022, the Company submitted its brief in defense. If the Commercial Court rules against the Company, it could disrupt the Company’s ability to market in France. On February 1, 2023, the French trade association submitted updated pleadings to the Commercial Court. The association maintains its position that the Company is misleading the consumer, and additionally alleges that it is engaging in unlawful comparative advertising of its products with respect to meat and meat products. The relief sought is unchanged. On May 24, 2023, the Company submitted its defense, strongly disputing these claims. In September 2023, the Company submitted a request to stay proceedings in the commercial litigation proceedings, pending the decision of the Court of Justice of the European Union (“CJEU”) in the administrative litigation case against the French Decree prohibiting meat names. On September 27, 2023, Interbev obtained an extension to submit a response to the Company. On October 25, 2023, Interbev submitted its response opposing the Company’s request to stay proceedings and asking that the written procedure of the case be closed. The Company responded on November 22, 2023, and Interbev submitted an additional reply on January 16, 2024. On March 20, 2024, the Commercial Court held a hearing on the decision to stay proceedings, and on April 25, 2024, the Commercial Court decided that the case should proceed. To that end, the Commercial Court set the date for an oral hearing on September 4, 2024, which was subsequently postponed to December 18, 2024, following a joint request from the parties. Interbev submitted its last written brief on September 30, 2024. The Company filed its last written brief on October 28, 2024. A first instance decision is expected in 2025. On April 21, 2023, Interbev filed two actions before the European Union Intellectual Property Office (the “EUIPO”) to cancel the Company’s EU trademark registration for the Caped Steer logo. Interbev is seeking cancellation of the trademark, alleging that the trademark is invalid because it allegedly misleads the public about the nature and characteristics of the products offered under the mark. Interbev is also seeking cancellation on the basis of allegedly misleading use. On July 7, 2023, the Company submitted its responses to these actions, strongly disputing these claims and defending its use and registration of the Caped Steer logo. Interbev’s response regarding misleading use of the mark was filed on September 14, 2023, and the Company responded on November 17, 2023. Interbev’s response regarding the invalidity of the mark was filed and served on the Company in November 2023, and the Company responded on January 12, 2024. On May 7, 2024, the Company was served with the EUIPO’s first instance decision regarding the invalidity of the mark. The EUIPO held the mark to be invalid insofar as the registration covered specifically meat or dairy substitute goods. The EUIPO held the trademark to be valid insofar as the registration is for other plant, cereal, vegetable, fruit or nut-based goods. The Company filed a formal appeal of the first instance decision on July 5, 2024, followed by its substantive grounds of appeal on September 9, 2024. Interbev has until November 11, 2024 to respond, and the Company is monitoring for further developments. Decrees Prohibiting Meat Names On June 29, 2022, France adopted a Decree implementing a prohibition of June 2020 on the use of denominations used for foodstuffs of animal origin to describe, market or promote foodstuffs containing plant proteins (the “Contested Decree”). The Contested Decree prohibited the use of meat names (such as “sausage” or “meatballs”) for plant-based products, from its date of entry into force on October 1, 2022. On July 27, 2022, the French High Administrative Court issued a temporary and partial suspension of the execution of the Contested Decree, in response to a motion filed by a French trade association. On October 21, 2022, the Company filed a request for annulment of the Contested Decree before the French High Administrative Court. On November 16, 2022, the Company filed a voluntary intervention in the French trade association’s own application for annulment, to ensure that both the Company’s voice and strong EU law arguments were heard. On January 23, 2023, the French Ministry for the Economy (the “French Ministry”) responded to the Company’s request for annulment and intervention. The French Ministry’s response made clear that it would enforce the Contested Decree as a blanket ban on the use of all “meaty” names for plant-based products in France. On April 20, 2023, a number of plant-based companies voluntarily filed interventions in support of the Company’s case. On July 12, 2023, the French High Administrative Court issued an intermediate judgment in the proceedings against the French meaty names ban. The court held that there were a number of difficulties interpreting EU law, which will be decisive for the resolution of the case. For that reason, the French High Administrative Court referred the case to the CJEU, which is the highest court in the EU and can issue a legally binding interpretation of EU law valid in all 27 EU member states, including France. The French High Administrative Court is bound to follow judgments of the CJEU. The procedure before the CJEU started on August 22, 2023, and the Company filed its submission on October 31, 2023. On January 15, 2024, the CJEU closed the written procedure. The period to request an oral hearing closed on February 5, 2024. In parallel to the litigation before the CJEU against the Contested Decree, on August 23, 2023, France published a proposal for a new decree replacing the Contested Decree (the “New Decree”). The New Decree has removed some of the Contested Decree’s most open-ended language, but essentially maintains the prohibition on meaty names for plant-based proteins. The New Decree was subject to administrative review procedure by the European Commission (the EU’s executive body) and the EU member states other than France. The six-months standstill period under that procedure ended on February 23, 2024. The Company supported plant-based protein trade associations against the New Decree. On February 26, 2024, the New Decree was adopted. However, on April 10, 2024, the French High Administrative Court decided once again to postpone the applicability of the New Decree. The interim relief judge noted that there were serious doubts as to whether such national measures could be adopted based on EU law, which had already prompted the ongoing CJEU litigation. In this context, on March 1, 2024, the CJEU requested the French High Administrative Court to provide its view on the impact of the adoption of the New Decree on the litigation against the Contested Decree, and whether it should be declared moot or it should be allowed to proceed. On March 14, 2024, the French High Administrative Court responded to the CJEU's request for information asking it to rule in the current proceedings. On April 15, 2024, the CJEU decided that the litigation against the Contested Decree would proceed, and that an oral hearing was not necessary. On October 4, 2024, the CJEU rendered its judgment. The judgment of the CJEU determined that the manner in which the Contested Decree seeks to ban meat names for plant-based foods is unlawful under EU law. It sets a precedent on the extent to which EU Member States may regulate the naming of plant-based foods at the national level in the absence of harmonization at the EU level. In its judgment, the CJEU also ruled that “meat” is defined under EU law as “edible parts of certain animals.” The Company is taking the view that the court’s interpretation only affects the use of the term in the sales denomination on the label and not the use of the term in marketing and advertising materials. The case will now revert back to the French High Administrative Court, which is bound by the CJEU’s judgment and is expected to render its judgment later this year or in 2025. The Company maintains its position that the Contested Decree was, and the New Decree is, illegal under French and EU law. It will continue to defend against prohibitions on meat names, among others, through plant-based protein trade associations. Arbitration with Former Co-Manufacturer In March 2024, a former co-manufacturer (“Manufacturer”) brought an action against the Company in a confidential arbitration proceeding. The Company had entered into an agreement with the Manufacturer, under which the Manufacturer was responsible for producing products on behalf of the Company. The Company terminated the agreement in November 2023 due to the Manufacturer’s failure to produce food in compliance with applicable laws, as required by the agreement. The Manufacturer alleges that the Company terminated the agreement without a contractual basis to do so and that it is owed past and future payments under the agreement. The Manufacturer claims total damages of at least approximately $73.0 million. The Company intends to vigorously defend against these claims. In October 2024, the Company filed amended counterclaims against the Manufacturer for breach of contract, breach of the duty of good faith and fair dealing, fraudulent inducement, false promise, concealment, and intentional misrepresentation, and negligent misrepresentation. The Company intends to vigorously prosecute the claims asserted against the Manufacturer.

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 28, 2024

Accounting Policies [Abstract]

Schedule of Disaggregation of Revenue

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


	Three Months Ended				Nine Months Ended
(in thousands)	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
U.S.:
Retail	$	34,969	$	30,518	$	116,926	$	123,167
Foodservice	14,478		12,535		37,132		39,974
U.S. net revenues	49,447		43,053		154,058		163,141
International:
Retail	16,565		14,153		46,728		48,437
Foodservice	14,994		18,106		49,008		58,119
International net revenues	31,559		32,259		95,736		106,556
Net revenues	$	81,006	$	75,312	$	249,794	$	269,697

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($)	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 6,000	$ 0	$ (26,000)	$ 5,000
Accrued interest or penalties related to uncertain tax positions	$ 0		$ 0

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-Publisher FASB
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-Subparagraph (a)
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-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 28, 2024	Mar. 30, 2024	Sep. 30, 2023	Apr. 01, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (26,576)	$ (54,361)	$ (70,492)	$ (59,037)	$ (115,416)	$ (183,034)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,300		5,800		17,464	17,707
Non-cash lease expense					6,198	5,997
Share-based compensation expense					17,753	23,791
Provision for doubtful accounts					232	0
Loss on sale of fixed assets	100		100		493	3,876
Amortization of debt issuance costs					2,951	2,951
Equity in losses of unconsolidated joint venture	38		126		61	3,864
Write-off of note receivable					0	3,795
Unrealized (gain) loss on foreign currency transactions					(1,118)	2,740
Net change in operating assets and liabilities:
Accounts receivable					(2,977)	(1,806)
Inventories					5,361	40,470
Prepaid expenses and other current assets					144	1,282
Accounts payable					(797)	8,335
Accrued expenses and other current liabilities					7,135	(2,752)
Prepaid lease costs, non-current					(4,933)	(3,254)
Operating lease liabilities					(2,412)	(3,244)
Net cash used in operating activities					(69,861)	(79,282)
Cash flows from investing activities:
Purchases of property, plant and equipment					(4,540)	(8,567)
Proceeds from sale of fixed assets					4,093	2,477
Payments for investment in joint venture					0	(3,250)
Return of security deposits					437	0
Net cash used in investing activities					(10)	(9,340)
Cash flows from financing activities:
Principal payments under finance lease obligations					(683)	(168)
Proceeds from exercise of stock options					18	171
Payments of minimum withholding taxes on net share settlement of equity awards					(617)	(391)
Net cash used in financing activities					(1,282)	(388)
Net decrease in cash, cash equivalents and restricted cash					(71,153)	(89,010)
Effect of exchange rate changes on cash					108	(704)
Cash, cash equivalents and restricted cash at the beginning of the period		$ 205,935		$ 322,548	205,935	322,548	$ 322,548
Cash, cash equivalents and restricted cash at the end of the period	134,890		232,834		134,890	232,834	$ 205,935
Supplemental disclosures of cash flow information:
Taxes					16	9
Non-cash investing and financing activities:
Non-cash additions to property, plant and equipment					5,482	2,038
Operating lease right-of-use assets obtained in exchange for lease liabilities	$ 366		$ 0		1,755	36,400
Reclassification of pre-paid lease costs to operating lease right-of-use assets					123	28,046
Non-cash additions to financing leases					$ 4,618	$ 0

Share-Based Compensation - Schedule of Shares Available for Grant (Details) - shares		9 Months Ended
	Jan. 01, 2024	Sep. 28, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Shares Available for Grant, Number of Shares [Roll Forward]
Beginning balance (in shares)	8,230,500	8,230,500
Ending balance (in shares)		7,462,253
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award, Shares Available for Grant, Number of Shares [Roll Forward]
Shares issuable (in shares)		225,967	0
Vesting percentage		200.00%
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Shares Available for Grant, Number of Shares [Roll Forward]
Beginning balance (in shares)	8,230,500	8,230,500
Authorized (in shares)	2,144,521	2,144,521
Granted (in shares)		(3,258,068)
Shares withheld to cover taxes (in shares)		71,057
Forfeited (in shares)		274,243
Ending balance (in shares)		7,462,253

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						9 Months Ended
	Sep. 28, 2024	Jun. 29, 2024	Mar. 30, 2024	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 31, 2023
Numerator:
Net loss available to common stockholders	$ (26,576)	$ (34,479)	$ (54,361)	$ (70,492)	$ (53,505)	$ (59,037)	$ (115,416)	$ (183,034)
Net loss available to common stockholders—basic	$ (26,576)			$ (70,492)			$ (115,416)	$ (183,034)
Denominator:
Weighted average common shares outstanding—basic (in shares)	65,060,729			64,398,448			64,880,008	64,210,809
Dilutive effect of Notes, if converted (in shares)	0			0			0	0
Weighted average common shares outstanding—diluted (in shares)	65,060,729			64,398,448			64,880,008	64,210,809
Net loss per share available to common stockholders—basic (in dollars per share)	$ (0.41)			$ (1.09)			$ (1.78)	$ (2.85)
Net loss per share available to common stockholders—diluted (in dollars per share)	$ (0.41)			$ (1.09)			$ (1.78)	$ (2.85)
Convertible Notes
Denominator:
Principal Amount	$ 1,150,000			$ 1,150,000			$ 1,150,000	$ 1,150,000	$ 1,150,000
Stock Options
Denominator:
Dilutive effect (in shares)	0			0			0	0
RSUs
Denominator:
Dilutive effect (in shares)	0			0			0	0
PSUs
Denominator:
Dilutive effect (in shares)	0			0			0	0

Stockholders’ Deficit - Narrative (Details) - $ / shares	Sep. 28, 2024	Dec. 31, 2023
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, outstanding (in shares)	65,171,128	64,624,140
Common stock, issued (in shares)	65,171,128	64,624,140
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

Leases - Schedule of Assets and Liabilities Related to Operating and Finance Leases (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Assets
Operating lease right-of-use assets	$ 126,092	$ 130,460
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant, and equipment, net	Property, plant, and equipment, net
Finance leases, net	$ 4,343	$ 461
Total lease assets	130,435	130,921
Current:
Operating lease liabilities	$ 4,103	$ 3,677
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Finance lease liabilities	$ 1,140	$ 196
Long-term:
Operating lease liabilities, net of current portion	$ 74,506	$ 75,648
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
Finance lease liabilities	$ 3,273	$ 274
Total lease liabilities	$ 83,022	$ 79,795

Summary of Significant Accounting Policies - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Net revenues	$ 81,006	$ 75,312	$ 249,794	$ 269,697
U.S. net revenues
Disaggregation of Revenue [Line Items]
Net revenues	49,447	43,053	154,058	163,141
U.S. net revenues \| Retail
Disaggregation of Revenue [Line Items]
Net revenues	34,969	30,518	116,926	123,167
U.S. net revenues \| Foodservice
Disaggregation of Revenue [Line Items]
Net revenues	14,478	12,535	37,132	39,974
International net revenues
Disaggregation of Revenue [Line Items]
Net revenues	31,559	32,259	95,736	106,556
International net revenues \| Retail
Disaggregation of Revenue [Line Items]
Net revenues	16,565	14,153	46,728	48,437
International net revenues \| Foodservice
Disaggregation of Revenue [Line Items]
Net revenues	$ 14,994	$ 18,106	$ 49,008	$ 58,119

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 32
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Subparagraph (b)
-Publisher FASB
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 121,732	$ 190,505
Restricted cash, current	558	2,830
Accounts receivable, net	34,674	31,730
Inventory	125,158	130,336
Prepaid expenses and other current assets	13,016	12,904
Assets held for sale	2,275	4,539
Total current assets	297,413	372,844
Restricted cash, non-current	12,600	12,600
Property, plant, and equipment, net	188,115	194,046
Operating lease right-of-use assets	126,092	130,460
Prepaid lease costs, non-current	66,444	61,635
Other non-current assets, net	662	1,192
Investment in unconsolidated joint venture	1,612	1,673
Total assets	692,938	774,450
Current liabilities:
Accounts payable	59,633	56,032
Accrued bonus	345	4,790
Current portion of operating lease liabilities	4,103	3,677
Accrued litigation settlement costs	7,250	0
Accrued expenses and other current liabilities	15,260	9,855
Total current liabilities	86,591	74,354
Long-term liabilities:
Convertible senior notes, net	1,140,492	1,137,542
Operating lease liabilities, net of current portion	74,506	75,648
Finance lease obligations and other long-term liabilities	3,273	274
Total long-term liabilities	1,218,271	1,213,464
Commitments and Contingencies (Note 9)
Stockholders’ deficit:
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; 65,171,128 and 64,624,140 shares issued and outstanding at September 28, 2024 and December 31, 2023, respectively	6	6
Additional paid-in capital	590,282	573,128
Accumulated deficit	(1,196,669)	(1,081,253)
Accumulated other comprehensive loss	(5,543)	(5,249)
Total stockholders’ deficit	(611,924)	(513,368)
Total liabilities and stockholders’ deficit	$ 692,938	$ 774,450

Debt - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Debt - Narrative (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 31, 2023	Mar. 12, 2021	Mar. 05, 2021
Debt Instrument [Line Items]
Debt issuance costs	$ 9,507		$ 9,507		$ 12,458
Amortization of debt issuance costs			2,951	$ 2,951
Level 2 \| Recurring
Debt Instrument [Line Items]
Fair Value	184,000		184,000
Convertible Notes
Debt Instrument [Line Items]
Debt issuance costs							$ 23,600
Amortization of debt issuance costs	$ 1,000	$ 1,000	$ 3,000	$ 3,000
Interest rate	0.09%	0.09%	0.26%	0.26%
Remaining term			2 years 6 months
Convertible Notes \| Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount							$ 1,000,000
Stated rate	0.00%		0.00%
Debt issuance costs	$ 9,507		$ 9,507
Additional Notes \| Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 150,000

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 2,160	$ 1,763	$ 6,491	$ 5,207
Operating lease right-of-use assets obtained in exchange for lease liabilities	$ 366	$ 0	$ 1,755	$ 36,400

Stockholders’ Deficit - Schedule of Common Stock Reserved for Future Issuance (Details) - shares	9 Months Ended
	Sep. 28, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	5,406,662	4,477,120
Shares available for grant/issuance (in shares)	7,462,253	8,230,500
Total common stock reserved for future issuance (in shares)	27,214,070	25,301,522
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issuable (in shares)	225,967	0
Vesting percentage	200.00%
Equity incentive compensation awards granted and outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	8,032,742	5,888,077
Shares available for grant under the 2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant/issuance (in shares)	7,462,253	8,230,500
Shares available for issuance under the Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant/issuance (in shares)	3,484,845	2,948,715
Shares available for issuance under the Employee Stock Purchase Plan \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issuable (in shares)	225,967
Vesting percentage	200.00%
Shares reserved for potential issuance under the Notes
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant/issuance (in shares)	8,234,230	8,234,230

Debt

9 Months Ended

Sep. 28, 2024

Debt Disclosure [Abstract]

Debt

The following is a summary of debt balances as of September 28, 2024 and December 31, 2023:


(in thousands)	September 28, 2024		December 31, 2023
0% Convertible senior notes	$	1,150,000	$	1,150,000




Debt issuance costs	(9,507)		(12,458)
Total debt outstanding	$	1,140,493	$	1,137,542
Less: current portion of long-term debt	—		—
Long-term debt	$	1,140,493	$	1,137,542

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 Company’s condensed consolidated balance sheet and is being amortized as interest expense over the term of the Notes using the effective interest method. In each of the three months ended September 28, 2024 and September 30, 2023, the Company recognized $1.0 million in interest expense related to the amortization of the debt issuance costs related to the Notes. The effective interest rate in both of the three month periods ended September 28, 2024 and September 30, 2023 was 0.09%. In each of the nine months ended September 28, 2024 and September 30, 2023, the Company recognized $3.0 million in interest expense related to the amortization of the debt issuance costs related to the Notes. The effective interest rate in both of the nine month periods ended September 28, 2024 and September 30, 2023 was 0.26%.

The following is a summary of the Company’s Notes as of September 28, 2024:

(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

$9,507

$1,140,493

$184,000

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 September 28, 2024, the estimated fair value of the Notes was approximately $184.0 million. 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 September 23, 2024, the last day of the period when the notes were traded.

As of September 28, 2024, the remaining life of the Notes was approximately 2.5 years.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)(1)
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
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-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Share-Based Compensation - Schedule of RSU Activity (Details)	9 Months Ended
	Sep. 28, 2024 $ / shares shares
2018 Plan
Weighted Average Grant Date Fair Value Per Unit
Shares withheld to cover taxes (in shares)	71,057
RSUs
Number of Units
Outstanding, beginning balance (in shares)	1,411,310
Granted (in shares)	1,736,593
Vested (in shares)	(614,738)
Canceled/Forfeited (in shares)	(133,052)
Outstanding, ending balance (in shares)	2,400,113
Weighted Average Grant Date Fair Value Per Unit
Beginning balance (in dollars per share) \| $ / shares	$ 19.60
Granted (in dollars per share) \| $ / shares	9.03
Vested (in dollars per share) \| $ / shares	18.72
Canceled/Forfeited (in dollars per share) \| $ / shares	15.95
Ending balance (in dollars per share) \| $ / shares	$ 12.44

Net Loss Per Share Available to Common Stockholders - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	8,032,742	5,783,535	8,032,742	5,783,535
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	5,406,662	4,383,626	5,406,662	4,383,626
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	2,400,113	1,399,909	2,400,113	1,399,909
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation (in shares)	225,967	0	225,967	0

Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 28, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant, and Equipment

A summary of property, plant, and equipment as of September 28, 2024 and December 31, 2023 is as follows:


(in thousands)	September 28, 2024		December 31, 2023
Manufacturing equipment	$	163,969	$	165,028
Research and development equipment	20,690		19,594
Leasehold improvements	18,429		23,898
Building	23,112		22,813
Finance leases	5,477		1,086
Software	2,842		3,568
Furniture and fixtures	934		1,079
Vehicles	594		584
Land	5,491		5,478
Assets not yet placed in service	42,553		43,123
Total property, plant and equipment	$	284,091	$	286,251
Less: accumulated depreciation and amortization	95,976		92,205

Property, plant and equipment, net	$	188,115	$	194,046

Inventories - Schedule of Major Classes of Inventory (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and packaging	$ 52,783	$ 61,371
Work in process	26,090	37,329
Finished goods	46,285	31,636
Total	$ 125,158	$ 130,336

Property, Plant and Equipment - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Finance leases	$ 5,477	$ 1,086
Total property, plant and equipment	284,091	286,251
Less: accumulated depreciation and amortization	95,976	92,205
Property, plant and equipment, net	188,115	194,046
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	163,969	165,028
Research and development equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	20,690	19,594
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	18,429	23,898
Building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	23,112	22,813
Software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,842	3,568
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	934	1,079
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	594	584
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,491	5,478
Assets not yet placed in service
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 42,553	$ 43,123

Introduction	9 Months Ended
Introduction	Sep. 28, 2024
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 promise, “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 meat, we can positively impact four growing global issues: human health, climate change, constraints on natural resources and animal welfare. As of September 28, 2024, approximately 84% of the Company’s assets were located in the United States.

Inventories (Tables)

9 Months Ended

Sep. 28, 2024

Inventory Disclosure [Abstract]

Schedule of Major Classes of Inventory

Major classes of inventory were as follows:


(in thousands)	September 28, 2024		December 31, 2023
Raw materials and packaging	$	52,783	$	61,371
Work in process	26,090		37,329
Finished goods	46,285		31,636
Total	$	125,158	$	130,336

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 28, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In connection with the Company’s investment in TPP, a joint venture with PepsiCo, the Company sold certain products directly to the joint venture. In the year ended December 31, 2022, the Company also entered into an agreement for a non-refundable up-front fee associated with its manufacturing and supply agreement with TPP to be recognized over the estimated term of the manufacturing and supply agreement. As part of the restructuring of certain contracts and operating activities related to Beyond Meat Jerky, in the first quarter of 2023, the Company recognized in full the remaining balance of this fee. In 2023, as part of its Global Operations Review, the Company made the decision to discontinue the Beyond Meat Jerky product line. Net revenues earned from TPP included in U.S. retail channel net revenues were $0 in the three months ended September 28, 2024 and September 30, 2023. Net revenues earned from TPP included in U.S. retail channel net revenues were $0 and $5.3 million, including the recognition of a $2.0 million non-refundable up-front fee, in the nine months ended September 28, 2024 and September 30, 2023, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Share-Based Compensation (Tables)

9 Months Ended

Sep. 28, 2024

Share-Based Payment Arrangement [Abstract]

Schedule 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, 2023			8,230,500
Authorized			2,144,521
Granted(1)			(3,258,068)
Shares withheld to cover taxes			71,057
Forfeited			274,243
Balance - September 28, 2024			7,462,253

__________

(1) Includes 225,967 shares reserved for issuance pursuant to performance stock units if 200% of the applicable performance target is achieved.

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

Nine Months Ended

September 28,
2024

September 30,
2023

September 28,
2024

September 30,
2023

Risk-free interest rate

3.9%

N/A

4.3%

4.1%

Average expected term (years)

7.0

N/A

7.0

Expected volatility

55.3%

N/A

55.0%

55.3%

Dividend yield

N/A

Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity during the nine months ended September 28, 2024:


	Number of Stock Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (in thousands)(1)
Outstanding at December 31, 2023	4,477,120	$	23.04	5.4	$	12,915
Granted	1,069,541	$	9.33	—	$	—
Exercised	(6,033)	$	3.00	—	$	23
Canceled/Forfeited	(133,966)	$	31.89	—	$	—
Outstanding at September 28, 2024	5,406,662	$	20.13	5.6	$	9,639
Vested and exercisable at September 28, 2024	3,482,392	$	23.29	3.7	$	9,544
Vested and expected to vest at September 28, 2024	4,818,333	$	21.32	5.1	$	9,591

__________

Schedule of RSU Activity

The following table summarizes the Company’s RSU activity during the nine months ended September 28, 2024:


	Number of Units	Weighted Average Grant Date Fair Value Per Unit
Unvested at December 31, 2023	1,411,310	$	19.60
Granted	1,736,593	$	9.03
Vested(1)	(614,738)	$	18.72
Canceled/Forfeited	(133,052)	$	15.95
Unvested at September 28, 2024	2,400,113	$	12.44

________

(1) Includes 71,057 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.

Schedule of Performance Stock Options


	Number of Units	Grant Date Fair Value Per Unit		Performance Period
Tranche 1	80,307	$	13.49	January 1, 2024 - December 31, 2024
Tranche 2	74,714	$	14.50	January 1, 2024 - December 31, 2025
Tranche 3	70,946	$	15.27	January 1, 2024 - December 31, 2026

Schedule of PSU Activity

The following table summarizes the Company’s PSU activity during the nine months ended September 28, 2024:


	Number of Units	Weighted Average Grant Date Fair Value Per Unit
Unvested at January 1, 2024	—	$	—
Granted	225,967	$	14.38
Vested	—	$	—
Canceled/Forfeited	—	$	—
Unvested at September 28, 2024	225,967	$	14.38

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (26,576)	$ (70,492)	$ (115,416)	$ (183,034)
Other comprehensive (loss) income, net of tax:
Foreign currency translation (loss) gain, net of tax	(1,164)	261	(294)	106
Comprehensive loss, net of tax	$ (27,740)	$ (70,231)	$ (115,710)	$ (182,928)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

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

+ References

+ Details

Leases

9 Months Ended

Sep. 28, 2024

Leases [Abstract]

Leases

See Note 9.

Leases are classified as either finance leases or operating leases based on criteria in ASC 842 “Leases.” The Company has operating leases for its corporate offices, including the Campus Headquarters (as defined below), its manufacturing facilities, warehouses and vehicles, and, to a lesser extent, certain equipment and finance leases. Such leases generally have original lease terms between 2 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 does not have residual value guarantees or material restrictive covenants associated with its leases.

On January 14, 2021, the Company entered into a 12-year lease with two 5-year renewal options (“Campus Lease”) to house its corporate headquarters, lab and innovation space (“Campus Headquarters”) in El Segundo, California. Although the Company is involved in the design of the tenant improvements of the Campus Headquarters, 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 Campus Headquarters until each phase of the tenant improvements is complete. The Company paid $4.9 million and $4.2 million in rent prepayments and payments towards construction costs of the Campus Headquarters in the nine months ended September 28, 2024 and the year ended December 31, 2023, respectively. The rent prepayments and payments towards construction costs are initially recorded in “Prepaid lease costs, non-current” in the Company’s condensed consolidated balance sheets and will ultimately be reclassified as a component of a right-of-use asset upon lease commencement for each phase of the lease.

In 2022, the tenant improvements associated with Phase 1-A were completed, and the underlying asset was delivered to the Company. As such, upon commencement of Phase 1-A, the Company recognized a $64.1 million right-of-use asset, which included the reclassification of $27.7 million of the construction payments previously included in “Prepaid lease costs, non-current,” and a $36.6 million lease liability. Upon completion of the tenant improvements associated with Phase 1-A, the Company moved its innovation team from its former Manhattan Beach Innovation Center to the Campus Headquarters. In 2023, the tenant improvements associated with Phase 1-B were completed, and the underlying asset was delivered to the Company. As such, upon commencement of Phase 1-B, the Company recognized a $64.9 million right-of-use asset, which included the reclassification of $29.3 million of the construction payments previously included in “Prepaid lease costs, non-current,” and a $35.6 million lease liability. Upon completion of the tenant improvements associated with Phase 1-B, the Company moved its headquarters, sales and marketing operations to the Campus Headquarters.

On September 17, 2024, the Company entered into an amendment to the Campus Lease, which amendment: (i) revised the square footage of the premises, building and project to: (a) increase the Company’s base rent by approximately $851,000 over the initial lease term; (b) adjust the Company’s percentage share of direct expenses; and (c) increase the tenant improvement allowance to reflect a reduction in the scope of landlord’s work; (ii) specify which improvements must be removed by the Company from the premises if the premises are not occupied in their entirety throughout the initial lease term and first extension term; and (iii) address other ministerial matters concerning the Campus Lease. Costs associated with this amendment are included in operating lease costs related to research and development expenses and SG&A expenses and are reflected in the tables below.

The lease on the Company’s Manhattan Beach Project Innovation Center expired on January 31, 2024. Costs associated with this lease through its expiration date are included in operating lease costs related to research and development expenses and are reflected in the tables below.

Given the Company’s intention to reduce its overall operating expenses and cash expenditures, on February 2, 2024, the Company terminated the agreement to purchase a property in Enschede, the Netherlands (the “Enschede Property”) and the security deposit was returned to the Company, which was subsequently paid to the purchaser of the property to be applied towards the deposit and future lease payments. The Company entered into a lease agreement with the purchaser of the property to lease the approximately 114,000 square foot property for an initial period of five years with an option to renew for an additional five years at an annual rent of approximately €1.0 million. The lease is classified as a finance lease in the Company’s condensed consolidated balance sheet as of September 28, 2024. Costs associated with this lease are included in finance lease costs related to cost of goods sold and are reflected in the tables below.

Lease costs for operating and finance leases were as follows:


		Three Months Ended
(in thousands)	Statement of Operations Location	September 28, 2024		September 30, 2023
Operating lease cost:
Lease cost	Cost of goods sold	$	424	$	399
Lease cost	Research and development expenses	2,383		2,507
Lease cost	Selling, general and administrative expenses	612		820
Variable lease cost(1)	Cost of goods sold	65		54
Variable lease cost(1)	Research and development expenses	—		21
Variable lease cost(1)	Selling, general and administrative expenses	1,099		632
Operating lease cost		$	4,583	$	4,433
Short-term lease cost:
Short-term lease cost	Cost of goods sold	$	23	$	21
Short-term lease cost	Research and development expenses	26		37
Short-term lease cost	Selling, general and administrative expenses	144		51
Short-term lease cost		$	193	$	109
Finance lease cost:
Amortization of right-of use assets	Cost of goods sold	$	267	$	49
Amortization of right-of use assets	Research and development expenses	4		4
Interest on lease liabilities	Interest expense	45		5
Variable lease cost(1)	Cost of goods sold	3		3


Finance lease cost		$	319	$	61
Total lease cost		$	5,095	$	4,603

____________

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


		Nine Months Ended
(in thousands)	Statement of Operations Location	September 28, 2024		September 30, 2023
Operating lease cost:
Lease cost	Cost of goods sold	$	1,246	$	1,210
Lease cost	Research and development expenses	7,151		6,979
Lease cost	Selling, general and administrative expenses	1,890		1,937
Variable lease cost(1)	Cost of goods sold	181		177
Variable lease cost(1)	Research and development expenses	6		104
Variable lease cost(1)	Selling, general and administrative expenses	3,059		1,800
Operating lease cost		$	13,533	$	12,207
Short-term lease cost:
Short-term lease cost	Cost of goods sold	$	67	$	63
Short-term lease cost	Research and development expenses	80		121
Short-term lease cost	Selling, general and administrative expenses	252		148
Short-term lease cost		$	399	$	332
Finance lease cost:
Amortization of right-of use assets	Cost of goods sold	$	733	$	154
Amortization of right-of use assets	Research and development expenses	11		11
Interest on lease liabilities	Interest expense	122		16
Variable lease cost(1)	Cost of goods sold	9		8
Variable lease cost(1)	Research and development expenses	1		—

Finance lease cost		$	876	$	189
Total lease cost		$	14,808	$	12,728

____________

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

Supplemental balance sheet information as of September 28, 2024 and December 31, 2023 related to leases are:


(in thousands)	Balance Sheet Location	September 28, 2024		December 31, 2023
Assets
Operating leases	Operating lease right-of-use assets	$	126,092	$	130,460
Finance leases, net	Property, plant and equipment, net	4,343		461
Total lease assets		$	130,435	$	130,921

Liabilities
Current:
Operating lease liabilities	Current portion of operating lease liabilities	$	4,103	3,677
Finance lease liabilities	Accrued expenses and other current liabilities	1,140		196
Long-term:
Operating lease liabilities	Operating lease liabilities, net of current portion	74,506		75,648
Finance lease liabilities	Finance lease obligations and other long-term liabilities	3,273		274
Total lease liabilities		$	83,022	$	79,795

The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of September 28, 2024:


	September 28, 2024
(in thousands)	Operating Leases		Finance Leases
Remainder of 2024	$	2,210	$	397
2025	8,653		1,201
2026	8,507		1,096
2027	8,330		1,064
2028	8,381		1,024
Thereafter	89,018		9
Total undiscounted future minimum lease payments	125,099		4,791
Less imputed interest	(46,490)		(378)
Total discounted future minimum lease payments	$	78,609	$	4,413

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


	September 28, 2024
	Operating Leases		Finance Leases
Weighted average remaining lease term (years)	13.4		4.2
Weighted average discount rate	6.9	%	4.2	%

Supplemental cash flow information:


	Three Months Ended				Nine Months Ended
(in thousands)	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,160	$	1,763	$	6,491	$	5,207
Operating lease right-of-use assets obtained in exchange for lease liabilities	366		—		$	1,755	$	36,400

Leases

See Note 9.

Lease costs for operating and finance leases were as follows:


		Three Months Ended
(in thousands)	Statement of Operations Location	September 28, 2024		September 30, 2023
Operating lease cost:
Lease cost	Cost of goods sold	$	424	$	399
Lease cost	Research and development expenses	2,383		2,507
Lease cost	Selling, general and administrative expenses	612		820
Variable lease cost(1)	Cost of goods sold	65		54
Variable lease cost(1)	Research and development expenses	—		21
Variable lease cost(1)	Selling, general and administrative expenses	1,099		632
Operating lease cost		$	4,583	$	4,433
Short-term lease cost:
Short-term lease cost	Cost of goods sold	$	23	$	21
Short-term lease cost	Research and development expenses	26		37
Short-term lease cost	Selling, general and administrative expenses	144		51
Short-term lease cost		$	193	$	109
Finance lease cost:
Amortization of right-of use assets	Cost of goods sold	$	267	$	49
Amortization of right-of use assets	Research and development expenses	4		4
Interest on lease liabilities	Interest expense	45		5
Variable lease cost(1)	Cost of goods sold	3		3


Finance lease cost		$	319	$	61
Total lease cost		$	5,095	$	4,603

____________

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


		Nine Months Ended
(in thousands)	Statement of Operations Location	September 28, 2024		September 30, 2023
Operating lease cost:
Lease cost	Cost of goods sold	$	1,246	$	1,210
Lease cost	Research and development expenses	7,151		6,979
Lease cost	Selling, general and administrative expenses	1,890		1,937
Variable lease cost(1)	Cost of goods sold	181		177
Variable lease cost(1)	Research and development expenses	6		104
Variable lease cost(1)	Selling, general and administrative expenses	3,059		1,800
Operating lease cost		$	13,533	$	12,207
Short-term lease cost:
Short-term lease cost	Cost of goods sold	$	67	$	63
Short-term lease cost	Research and development expenses	80		121
Short-term lease cost	Selling, general and administrative expenses	252		148
Short-term lease cost		$	399	$	332
Finance lease cost:
Amortization of right-of use assets	Cost of goods sold	$	733	$	154
Amortization of right-of use assets	Research and development expenses	11		11
Interest on lease liabilities	Interest expense	122		16
Variable lease cost(1)	Cost of goods sold	9		8
Variable lease cost(1)	Research and development expenses	1		—

Finance lease cost		$	876	$	189
Total lease cost		$	14,808	$	12,728

____________

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

Supplemental balance sheet information as of September 28, 2024 and December 31, 2023 related to leases are:


(in thousands)	Balance Sheet Location	September 28, 2024		December 31, 2023
Assets
Operating leases	Operating lease right-of-use assets	$	126,092	$	130,460
Finance leases, net	Property, plant and equipment, net	4,343		461
Total lease assets		$	130,435	$	130,921

Liabilities
Current:
Operating lease liabilities	Current portion of operating lease liabilities	$	4,103	3,677
Finance lease liabilities	Accrued expenses and other current liabilities	1,140		196
Long-term:
Operating lease liabilities	Operating lease liabilities, net of current portion	74,506		75,648
Finance lease liabilities	Finance lease obligations and other long-term liabilities	3,273		274
Total lease liabilities		$	83,022	$	79,795

The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of September 28, 2024:


	September 28, 2024
(in thousands)	Operating Leases		Finance Leases
Remainder of 2024	$	2,210	$	397
2025	8,653		1,201
2026	8,507		1,096
2027	8,330		1,064
2028	8,381		1,024
Thereafter	89,018		9
Total undiscounted future minimum lease payments	125,099		4,791
Less imputed interest	(46,490)		(378)
Total discounted future minimum lease payments	$	78,609	$	4,413

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


	September 28, 2024
	Operating Leases		Finance Leases
Weighted average remaining lease term (years)	13.4		4.2
Weighted average discount rate	6.9	%	4.2	%

Supplemental cash flow information:


	Three Months Ended				Nine Months Ended
(in thousands)	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,160	$	1,763	$	6,491	$	5,207
Operating lease right-of-use assets obtained in exchange for lease liabilities	366		—		$	1,755	$	36,400

Income Taxes	9 Months Ended
Income Taxes	Sep. 28, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In the three months ended September 28, 2024 and September 30, 2023, the Company recorded $6,000 and $0 in income tax expense, respectively, in its condensed consolidated statements of operations. In the nine months ended September 28, 2024 and September 30, 2023, the Company recorded $26,000 in income tax benefit and $5,000 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. 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 September 28, 2024, 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.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Inventories

9 Months Ended

Sep. 28, 2024

Inventory Disclosure [Abstract]

Inventories

Major classes of inventory were as follows:


(in thousands)	September 28, 2024		December 31, 2023
Raw materials and packaging	$	52,783	$	61,371
Work in process	26,090		37,329
Finished goods	46,285		31,636
Total	$	125,158	$	130,336