Beyond Meat, once a Wall Street darling, is struggling to live up to its once-lofty expectations.
The producer of plant-based meat substitutes, most famous for its "Beyond Burger" has seen demand for its products slow dramatically - with revenue actually falling 1% year-on-year in its latest quarterly update. Compared to the same quarter two years ago, revenues are up just 2%.
Beyond growth?
The company is still expecting to grow revenue between 21% and 33% next year, but it seems its days of doubling - or even tripling - its sales are well behind it, even as more and more Americans turn to vegan or vegetarian diets.
Slowing growth is more manageable for companies making a profit, but Beyond Meat remains a cash-burning machine; the company made a net loss of $182m last year.
Unsurprisingly that's been reflected in the company's share price, which has shed two-thirds of its value in the last year.
