Beyond Meat sees Q4 operating expenses mid-$60M range

Sees Q4 gross margin negative. Says expects cash used in operating activities to increase in Q4. Says expects cash flow from operations to be positive in second half of FY23. Says in current environment not seeing benefit from competition. Says significantly reducing operating expenses. Says reduced operating expenses 23% from Q1. Says expects operating expenses to fall further in Q4 and thereafter. Comments and guidance taken from Q3 earnings conference call.