Plant-based meat manufacturer Beyond Meat announced Monday it will postpone filing its annual report while citing significant weaknesses in its internal financial oversight systems.
The company’s stock price dropped approximately 5% during after-hours trading following the announcement.
Beyond Meat indicated it requires extra time to conduct a thorough examination of its inventory records, particularly focusing on calculations related to surplus and outdated stock. The company anticipates submitting its Form 10-K filing to securities regulators no later than March 31.
Company officials stated they are examining their internal oversight processes and are working to create a corrective action plan.
The plant-based food producer disclosed preliminary fourth-quarter earnings of approximately $61 million, falling short of analyst projections of $62.6 million according to LSEG data compilation.
For the complete 2025 fiscal year, Beyond Meat projects net earnings of roughly $275 million, slightly below analyst expectations of $276.5 million.
The company acknowledged it has not yet calculated how the inventory assessment might affect its financial reporting.
Beyond Meat plans to release its complete fourth-quarter financial results following market closure on March 25.
