Overview
- Third‑quarter net revenue was about $70 million, down 13% year over year, reflecting roughly a 10% volume decline and lower net revenue per pound.
- The company posted a net loss of $1.44 per share and an adjusted loss of $0.47, wider than the $0.31 adjusted loss expected by analysts.
- Management guided fourth‑quarter net revenue to $60 million–$65 million, below consensus near $70 million.
- U.S. retail sales fell about 18% and U.S. foodservice declined more than 27%, while international retail slipped and international foodservice rose slightly.
- CEO Ethan Brown pointed to recent financing actions centered on reducing leverage, extending debt maturities, and adding liquidity as the company faces demand and margin pressures.