The company reported weakness in the US market and trimmed its 2023 revenue outlook to a range of $360 million to $380 million, down from a previous range of as much as $415 million
fell in late trading after the plant-based burger company said it’s unlikely to hit its goal of becoming cash-flow positive in the second half of the year. The company also trimmed its sales outlook.
The maker of the Beyond Burger has struggled to maintain consumer interest amid high prices and questions about its products’ taste and texture. It has vowed to revamp its business and adapt to changing conditions, but ongoing weakness in the US is proving challenging for the company.
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