BEYOND MEAT INC
For the period ended Dec 31, 2023. Filed Mar 1, 2024.
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FY2023 · Filed Mar 1, 2024
BYND$5.65-7.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| BEYOND MEAT, INC. AND SUBSIDIARIES | |||
|---|---|---|---|
| Consolidated Statements of Cash Flows | |||
| (In thousands) | |||
| Year Ended December 31, | |||
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(338,144) | $(366,137) | $(182,105) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 48,094 | 32,582 | 21,663 |
| Non-cash lease expense | 8,140 | 5,167 | 3,418 |
| Share-based compensation expense | 29,098 | 33,857 | 27,698 |
| Loss on sale and write-down of fixed assets | 20,515 | 486 | 199 |
| Amortization of debt issuance costs | 3,934 | 3,934 | 3,322 |
| Loss on extinguishment of debt | — | — | 1,037 |
| Equity in losses of unconsolidated joint venture | 3,902 | 18,948 | 2,977 |
| Write-down of note receivable | 3,795 | — | — |
| Unrealized (gain) loss on foreign currency transactions | (1,822) | 5,106 | — |
| Net change in operating assets and liabilities: | |||
| Accounts receivable | 2,717 | 9,063 | (8,463) |
| Inventories | 106,087 | 2,572 | (122,666) |
| Prepaid expenses and other assets | 12,873 | 11,595 | (21,414) |
| Accounts payable | 3,004 | (10,826) | 21,665 |
| Accrued expenses and other current liabilities | (2,492) | (7,148) | 13,961 |
| Prepaid lease costs, non-current | (4,245) | (55,110) | (59,188) |
| Operating lease liabilities | (3,281) | (4,333) | (3,474) |
| Net cash used in operating activities | $(107,825) | $(320,244) | $(301,370) |
| Cash flows from investing activities: | |||
| Purchases of property, plant and equipment | $(10,564) | $(70,475) | $(135,961) |
| Proceeds from sale of fixed assets | 4,323 | — | — |
| Purchases of property, plant and equipment held for sale | — | (2,821) | — |
| Payments for investment in joint venture | (3,250) | (13,250) | (11,000) |
| Payment of security deposits | — | (981) | (518) |
| Net cash used in investing activities | $(9,491) | $(87,527) | $(147,479) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of convertible senior notes | — | — | 1,150,000 |
| Purchase of capped calls related to convertible senior notes | — | — | (83,950) |
| (continued on the next page) | |||
| BEYOND MEAT, INC. AND SUBSIDIARIES | |||
|---|---|---|---|
| Consolidated Statements of Cash Flows | |||
| (In thousands) | |||
| Year Ended December 31, | |||
| 2023 | 2022 | 2021 | |
| Debt issuance costs | — | — | (23,605) |
| Repayment of revolving credit facility | — | — | (25,000) |
| Principal payments under finance lease obligations | (223) | (210) | (177) |
| Proceeds from exercise of stock options | 170 | 1,626 | 8,135 |
| Payments of minimum withholding taxes on net share settlement of equity awards | (497) | (1,140) | (3,081) |
| Net cash (used in) provided by financing activities | $(550) | $276 | $1,022,322 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | $(117,866) | $(407,495) | $573,473 |
| Cash, cash equivalents and restricted cash at the beginning of the period | 322,549 | 733,294 | 159,127 |
| Effect of exchange rate changes on cash | 1,252 | (3,250) | 694 |
| Cash, cash equivalents and restricted cash at the end of the period | $205,935 | $322,549 | $733,294 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid (received) during the period for: | |||
| Interest | $— | $10 | $348 |
| Taxes | $(1) | $38 | $(10) |
| Non-cash investing and financing activities: | |||
| Non-cash additions to property, plant and equipment | $909 | $3,507 | $5,239 |
| Operating lease right-of-use assets obtained in exchange for lease liabilities | $36,400 | $37,245 | $16,701 |
| Reclassification of pre-paid lease costs to operating lease right-of-use assets | $28,082 | $29,000 | $— |
| Non-cash addition to financing leases | $— | $280 | $580 |
| Reclassification of other current liability to additional paid-in capital in connection with the share-settled obligation | $— | $— | $2,535 |
| (concluded) | |||
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