The maker of the Beyond Burger thinks there's plenty of demand for more plant-based burgers.
Beyond Meat released its quarterly earnings on Thursday showing a 215% increase in net revenue, and the company expects to double its sales in 2019 compared with last year. The numbers come a little over a month after Beyond Meat held its initial public offering on May 2.
"We are very pleased with our successful IPO during the month of May and our strong first quarter financial results that we believe demonstrate mainstream consumers' desire for plant-based meat products in the United States and internationally," Ethan Brown, Beyond Meat's president and CEO, said in a press release Thursday.
The meat replacement company's Beyond Burger is available at supermarkets across the US and Amazon. It's also available for order at Carl's Jr, TGI Fridays and Del Taco. Starting in June, smart-oven maker Tovala began offering Beyond Meat as part of its meal kits.
Beyond Meat, however, isn't the only such maker in town. Impossible Foods is another plant-based meat company that's already teamed up with Burger King to make the Impossible Whopper and Little Caesars to create Impossible Sausage for pizzas.