BEYOND MEAT, INC.BYND

BEYOND MEAT, INC. Earnings Per Share Disclosure

10-KFiled Mar 5, 20252 min read
Net Loss Per Share Available to Common Stockholders (“EPS”)
The Company calculates basic and diluted net loss per share available to common stockholders in conformity with the provisions of ASC 260 “Earnings Per Share.” Pursuant to ASU 2020-06, the Company applies the if-converted method to its Notes. See Note 2.
(in thousands, except share and per share amounts)Year Ended December 31,
202420232022
Numerator:
Net loss available to common stockholders$(160,278)$(338,144)$(366,137)
Undistributed net income available to unvested restricted stockholders— — — 
Net loss available to common stockholders—basic$(160,278)$(338,144)$(366,137)
Denominator:
Weighted average common shares outstanding—basic66,004,815 64,300,099 63,622,432 
Dilutive effect of shares issuable under stock options— — — 
Dilutive effect of RSUs— — — 
Dilutive effect of PSUs— — — 
Dilutive effect of Notes, if converted(1)
— — — 
Weighted average common shares outstanding—diluted66,004,815 64,300,099 63,622,432 
Net loss per share available to common stockholders—basic and diluted$(2.43)$(5.26)$(5.75)
____________
(1) As the Company recorded a net loss in the years ended December 31, 2024, 2023 and 2022, inclusion of shares from the conversion premium or spread would be anti-dilutive. The Company had $1.15 billion in Notes outstanding during the years ended December 31, 2024, 2023 and 2022.

The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share available to common stockholders for the periods presented because the impact of including them would have been antidilutive:
Year Ended December 31,
202420232022
Options to purchase common stock4,392,460 4,477,120 3,999,933 
RSUs2,241,231 1,411,310 993,313 
PSUs225,967 — — 
Total6,859,658 5,888,430 4,993,246 

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

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