First-quarter net revenue came in at $40.2 million, an increase of 215%, the company said.
Last month it was announced, demand for fake-meat products produced by Impossible Foods is so high that the company is running out of stock amid unprecedented demand and a lucrative deal with Burger King.
But Brown is not cowed by rivals, he said. Shares of Beyond sank as much as 7% Monday on the news that Nestle, a major competitor, would release its own veggie burger in the U.S.
Shares of Beyond Meat surged more than 36% Friday after analysts raised their price targets following the company's first quarterly report since going public.
Beyond Meat produces plant-based meat alternatives that are all the rage in the food and tech industry. And on Thursday, the company will have to justify that sky-high price with hard numbers when it releases its first-quarter earnings.
During its latest quarter, Beyond Meat said sales to restaurants and foodservice such as Del Taco and Carl's Jr. spiked 491% to $20.6 million, while retail growth was 110.8% to $19.6 million.
"We're at a point where plant-based meats have become a segment of their own, and by the end of the year we'll have a section exclusively dedicated to these products inside the meat department", said Beretta.
Michael Gove admits to taking cocaine on 'several social occasions'
The former justice secretary said: "I have seen it close up and I have also seen it in the work that I have done as a politician". So far 11 leading lights of the Conservative party have declared their candidature in the leadership election.
The Californian firm attributed the revenue growth to increased sales of its Beyond Burger and heightened demand from new and existing customers.
"When skeptical investors ask how Beyond Meat plans on attacking approaching competition, we think they may overlook the flexibility the company has to invest in price", J.P. Morgan analyst Ken Goldman said.
Brown said the company is in the testing phase with several fast-food chains, but he wouldn't say which ones. What's more, food giants like Tyson Foods Inc. and Nestle SA are working on competing products.
The market for plant-based meat substitutes was placed $1.44 billion 2018 and should grow to $2.50 billion by 2023, according to Euromonitor.
However, Impossible has reached out to distributors and restaurants to let them know that an Impossible shortage is "entirely possible" and that demand is 'outpacing the company's manufacturing capabilities, ' as first reported by Eater. It was the first offering to soar by more than 100% in its first trading day this year, according to Dealogic, coming amid a slew of mixed new stock-market debuts. In 2018, Beyond Meat controlled only 2.1 percent of the USA meat alternative market.
Beyond Meat's shares jumped 15% to $114.27 in after-hours trading.
In a bid to directly compete with ground beef and pork sausage, Beyond Meat Inc bills itself the world's first plant-based burger sold in the meat case of US grocery stores.