Packs of Beyond Meat plant-based burger patties are displayed for sale.

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Beyond Meat on Thursday reported a wider-than-expected loss per share as higher costs and investments back into its business weighed on margins.

Shares of the company fell nearly 4% in extended trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Loss per share: 31 cents vs. 24 cents expected
  • Revenue: $149.4 million vs. $140.8 million expected

Beyond reported fiscal second-quarter net loss of $19.7 million, or 31 cents per share, wider than its net loss of $10.2 million, or 16 cents per share, a year earlier. Analysts surveyed by Refinitiv were expecting a loss per share of just 24 cents.

Net sales rose 31.8% to $149.4 million, topping expectations of $140.8 million.

“… I’m optimistic about what lies ahead,” CEO Ethan Brown said in a statement. “That said, given the recent uptick of Covid-19 cases, which could disrupt demand patterns, we believe caution for the balance of the year generally remains appropriate.”

This is a breaking news story. Please check back for updates.

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Beyond Meat (BYND) Q2 2021 earnings