There was a time when it appeared plant-based burgers had been in all places. Crimson meat was out, and a plant-based weight-reduction plan was in.
However like many weight-reduction plan fads, that has modified lately.
And Past Meat, the corporate promising a plant-based burger that truly tastes like a meat-based burger, continues to be probably the most in danger.
It not too long ago dropped the Meat in its title to change into Past The Plant Protein Co. or just Past, launching different drinks and snacks within the hopes of reviving itself.
However there won’t be a future for Past primarily based on their newest assertion.
Past Meat edges nearer to chapter
Past Meat has been on the point of chapter for some time. Plant-based meat shouldn’t be as fashionable within the U.S. because it as soon as was. Annual gross sales declined in 2025 to $273.5 million, nearing 2019 ranges when meat alternate options like Past Meat turned mainstream, in response to BNP Media’s Nationwide Provisioner.
Past Meat’s internet income fell 13.3% within the third quarter of 2025, and its share value has been hovering at lower than $1 for a number of months.
The corporate expects to disclose but extra income losses. However because of a listing steadiness difficulty, that announcement may very well be delayed.
Past Meat has delayed submitting its 2025 monetary report, because it wants extra time to finish a listing evaluate, together with for “excess and obsolete inventory.”
Past Meat plans to report its monetary outcomes for the fourth quarter on March 25. Nevertheless, its annual monetary reviews are delayed to March 31, however warned there may very well be additional delays.
It expects to report a internet income of $61 million for the fourth quarter and $275 million for 2025, in comparison with $326 million in 2024.
There can even be a cloth weak spot reported in connection to its annual submitting because of the stock submitting difficulty, as its controls on its monetary reporting are usually not efficient, Past Meat acknowledged. The corporate is reviewing its management procedures and is growing a remediation plan.
Past Meat has been struggling financially for the previous a number of years.
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Past units its sights on protein
Whereas the corporate is struggling financially, plainly Past CEO and President Ethan Brown nonetheless holds onto hope.
He plans to reshape the corporate to transcend meat and broaden to different markets together with protein shakes, drinks, and snacks, the Related Press reported.
In early March, the corporate modified its web site and social media to mirror its new branding. It additionally launched Past Immerse, a glowing protein drink and its first beverage in January. These merchandise are solely out there on-line however will finally be provided in shops.
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The corporate appears to be chasing one other meals pattern, as demand for protein has soared. Round 61% of U.S. shoppers are growing their protein consumption, in response to a report from Cargill meals conglomerate.
Different meals chains have taken observe, The Wall Avenue Journal reviews. Starbucks launched a protein latte, whereas Chipotle has a high-protein menu, and even Subway has added protein pockets to its choices.
However whether or not Past Meat will proceed to carry its personal in yet one more saturated market stays to be seen.
Past Meat timeline:
- 2009: Based by Ethan Brown, the corporate makes use of plant-protein to create merchandise that style and look just like meat.
- 2012: Past Meat launches its first business product, Past Hen Strips, in response to CNBC.
- 2016: Past Meat debuts its Past Burger and receives investments from buyers together with Invoice Gates and Leonardo DiCaprio, Enterprise Insider reported.
- 2019: Turns into the primary plant-based firm to go public and turns into among the best IPOs of the yr, with CNBC reporting a market worth of $1.46 billion.
- 2023: Past Meat’s troubles start as plant-based meat gross sales within the U.S. decline and the agency reduces its annual outlook, in response to Meals Drive.
- 2026: Past Meat drops “Meat” from its title and expands past plant-based meals.
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