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Beyond Meat: Vegan burgers are going public

Beyond Meat raised the price range for its shares before floating on the stock market, valuing the plant-based meat producer at almost $1.5bn. The American company, which counts the actor and ecologist Leonardo DiCaprio its investors, will now offer their shares at a price of $23 to $25. The decision to increase the price from the original price range of $19 to $21 indicates strong demand for shares.

But Beyond Meat has made big losses and does not know when it will make a profit. Financial results for 2018 reveals Beyond Meat stated losses amounting to $29.9m, slightly below last year but worse than the $25.1m loss recorded in 2016. The company has recorded losses since its founding in 2009, citing investments in “innovation and development” as the leading factor.

The flotation document filed with the US Securities and Exchange Commission (SEC) states: “We may not be able to achieve or maintain profitability.” “Since the beginning of our activity, we have recorded net losses each year and therefore we may not be able to achieve or maintain profitability in the future.” Beyond Meat is one of many so-called “unicorns” companies – which are privately owned enterprises worth $1bn or more – to sell their shares to public investors this year.

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