Investors react to earnings from the plant-based meat replacement maker after the company reports a sales slowdown. Yahoo Finance's Jared Blikre reports.

Video Transcript

ADAM SHAPIRO: And back to Jared because we have Beyond Meat. And we were talking about beef prices going up, but this is the plant-based beef. What are they telling us?

JARED BLIKRE: Their guideline-- or their guiding for the fourth quarter, very, very short of Wall Street expectations, saying that the revenue for the fourth quarter will be $85 to $110 million. Estimate was for much higher, $131.5 million. So on that outlook, seeing the stock trade lower. Now, for the third quarter, the reporting quarter, net revenue was a tiny beat, coming in at $106.4 million. Estimate was for $0.3 million lower, and that's up 13% year over year.

Adjusted EBITDA, a much wider loss than expected, $36.8 million versus an estimated loss of $12.1 million. And then gross margin also missing the mark, 21.6%. Estimate was for 29%, so about 800 basis points of miss there. R&D expenses, $14.9 million, coming in hotter than expected. Estimate was for $13 million, ending the quarter with cash and cash equivalents of $886.4 million, when the estimate was for slightly higher, $1.03 billion. Hard to find a number here that wasn't a bit of a disappointment, except maybe that top line revenue number. Guys.