BEYOND MEAT INC (NASDAQ:BYND) Q2 2019 Earnings Conference Call - Final Transcript

Jul 29, 2019 • 04:30 pm ET


BEYOND MEAT INC (NASDAQ:BYND) Q2 2019 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Beyond Meat Second Quarter 2019 Conference Call. [Operator Instructions]

I would now like to introduce your host for today's conference, Ms. Katie Turner, you may begin.

Katie M. Turner

Thank you. Good afternoon and welcome to Beyond Meat's second quarter 2019 earnings conference call and webcast. On today's call are Seth Goldman, Executive Chair; Ethan Brown, Founder, President and Chief Executive Officer; and Mark Nelson, Chief Financial Officer and Treasurer.

By now, everyone should have access to the Company's second quarter earnings press release and second quarter Form 10-Q filed today after market close. These documents are available on the Investors section of Beyond Meat's website at Before we begin, please note that all financial information presented on today's call is unaudited and, during the course of this call, management may make forward-looking statements within the meaning of the federal securities laws. These statements are based on management's current expectations and beliefs and involves risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. Please refer to the second quarter 10-Q, the company's registration statement on Form F-1 filed today and other filings with the Securities and Exchange Commission for a detailed discussion of the risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today.

Please note on today's call, management will refer to adjusted EBITDA, which is a non-GAAP financial measure. While the company believes this non-GAAP financial measure provides useful information for investors, the presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Please refer to today's release for a reconciliation of adjusted EBITDA to the most comparable measures prepared in accordance with GAAP.

And now, I'd like to turn the call over to Seth Goldman, Executive Chair.

Seth Goldman

Thank you, Katie, and good afternoon, everyone. We appreciate you joining us for our quarterly earnings call. Today, Ethan will briefly review our second quarter financial and operational highlights, and reiterate the key reasons we believe Beyond Meat is well positioned for long-term growth in the US and globally. Mark will then review our financial results in more detail, discuss our raised annual outlook and reiterate our long-term financial targets. After that, we'll open it up for questions.

We are very pleased with our strong second quarter financial results. At Beyond Meat, we have made meaningful investments to build a revolutionary business as we expanded the US and multiple markets internationally. While this approach requires strong investment in the short-term, we believe it creates the foundation for us to leverage and scale in the medium to long-term. We believe Beyond Meat is well positioned for growth in the US and internationally.

Now before I turn things over to Ethan and Mark, I would like to take a moment to highlight several members of our talented and passionate team who play