Beyond Meat Inc (NASDAQ: BYND) reported a solid revenue beat in its second quarter results on Aug. 5 but investors were more focused on a 31 cent per share loss versus expectations of a 24 cent per share loss. Net loss widened from $10.2 million in the same quarter last year to a net loss of $19.7 million.
Management was forced to take on the role of damage control during its post-earnings conference call as shares fell around 5% immediately following the headline numbers. During the call Beyond Meat CEO Ethan Brown touted the company’s market-leading position to reaffirm its longer-term outlook.
For example, Brown said that sales were up 32% year-over-year while it reaffirmed top ranks in the plant-based category in terms of dollar share and brand awareness. To better understand the company’s market positioning claims, Invezz reached out to Simporter, an analytics company that uses billions of data points to better predict consumer demand.
Beyond Meat’s leadership status is confirmed
Simporter CEO Dillon Hall told Invezz in an interview that Beyond Meat is “way ahead of the pack” in terms of online consumer interest across search, reviews, and social media data. Beyond Meat is classified as a “Very High Opportunity brand” which indicates it has a clear pathway for growth through at least 2022 and likely beyond. Hall said:
“Our data shows that Beyond Meat makes up 63% share-of-voice in plant-based meat conversations over the past two years and, despite that large volume, is growing at an astounding 95% year-on-year in online dialogue.”
Beyond Meat grew sales by 32% in the second quarter which was better than the industry average, Hall said. Just as impressive is the fact that Beyond Meat was
