I'm a Sirius XM subscriber, and I had to think about it a little bit and understand a bit more of what management was thinking about doing with this deal. In the first nine months that ended September 29th of 2018, revenues were $56.4 million. We were having fun talking about the last two years, some good games those two teams have played. The company did $8.8 million on its top line in 2015. I'm a CPA & CMA (Certified Management Accountant) & I tweet mostly about investing and literature. Sharma: I'm going to be looking for, basically, the hotel revenue. Morningstar Farms is going full vegan soon and it can’t wait to tell everyone Morningstar Farms is cutting out all animal products by 2021. The IPO market has been a little slow this year. Products are in many retail grocery stores, including Kroger, ... Safeway, Whole Foods, and Wegmans. I don't think I've ever tried one. The company, in the last two years, has negative cash flow of $23.5 million in 2016 and $25.3 million in 2017. MorningStar Farms is a food and beverage packaging services company located in Battle Creek. I talked about losses, talked about fast-growing revenue. Have a great rest of the week! I suspect that the cash burn situation won't be a problem for very long. We are focused on continually improving our products so that they are to the human sensory system indistinguishable from their animal-based counterparts." It's always scary when you see a company say, "These proceeds are going to be exclusively used to pay down debt for big equity partners," or whatever. Moser: Yeah, you're right. We'll see you next week! I'm like you, I want to see a quarter or two of some results. Is it going to be, finally, a growth number that you can hang your hat on? But ultimately, what this was, was buying the audience. That values the company … These people are all in charge of the innovation for the company, which it needs because it's got a host of competitors, obviously, with this huge market opportunity and a growing awareness among consumers that not only is this good for you, but this stuff tastes great, as well. That's because its gross margin is improving. You can think of this as cash burn. Moser: It sounds like one we'll revisit. It has the big market opportunity. Pivoting to a completely plant-based range will eliminate the use of 300 million egg whites annually. What are you going to be watching? I like that. So, listen, we have a big show today. Kellogg's MorningStar Farms … Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) flows for October 2020. That's another reason why this deal appeals to me. Like Tofurky, MorningStar is an old school meat-free brand — but it wasn’t always vegan. But you know what? The company generated negative gross margin in the most recently reported years. How can I invest? The company was started in 2009 by a man named Ethan Brown, who's still the CEO. In the first nine months of 2018, though, the company, despite that huge spike in revenue, has only lost $22.4 million. First we're going to jump into an upcoming IPO and a tweet we got from a loyal listener, Warren Kiesel. For Asit Sharma, I'm Jason Moser. Beyond Meat’s products are driven by proprietary technology and a relentlessly focused innovation team Large, experienced team composed of scientists, engineers, researchers, technicians, and chefs Work seamlessly with internal chefs and food … That grew to $32.6 million by 2017, which represented a 92% compounded annual growth rate. To date, one of the key protein sources has been animal protein, and by 2028 global meat consumption per capita is expected to reach 35.1 kg retail weigh equivalent. That's what made me think, "Hmm, do they really need Pandora?" Plant-based protein company Beyond Meat has filed for a $100 million initial public offering, as vegan and meat alternative food products gain in popularity. Any thoughts there? I'm going to tell you. Certainly, it can go to paying down some debt, but it sounds like they have some productive uses earmarked for these funds. IPO Report Morningstar to price IPO Tuesday Published: May 2, 2005 at 3:20 p.m. Without going into a lot of detail, let's call that moderate leverage. Target promotions are going to hit select Pandora listeners. Learn about IPO (ARCX) with our data and independent analysis including price, star rating, asset allocation, capital gains, and dividends. Later in the show, the hosts update listeners about Sirius XM's (NASDAQ:SIRI) acquisition of Pandora. You're putting part of your fate into someone else's hands, and the incentives might not necessarily align. That's always the next question, listeners, that you have. I love Brazilian pop music, wok experimentation, running trails in Chuck Taylors, & travel -- or at least daydreaming of travel. Morningstar also faced questions from the. Then it boils down to executing and coming up with products that people want. And they're thinking, "Hey, why don't we at least open up some opportunities for people to subscribe to something perhaps that they want to listen to?" The neat thing about this is that they're looking at this base of vehicles. You see this really tremendous growth rate. I think this is a deal with potential. They'll have a call the following morning. I get why they did it. The European meat substitute market almost doubled in size between 2014 and … The mutual fund tracker priced a 7.6 million-share IPO Monday night at … One last thought from my side, I want to read listeners something from Sirius' conference call last week. Vital Farms' lock-up period expires on Wednesday, January 27th. Let's talk about the competition. Having thrown those numbers out at you, Jason, what are your thoughts? In the past 30 days, Morningstar Farms has had 1,586 airings and earned an airing rank of #680 with a spend ranking of #603 as compared to all other advertisers. We're very focused on that. Changing consumption habits is essential in dealing with climate change, and their burgers are pretty damn good, too." It's backed, for the time being, by private equity capital. The company has revenue of less than $60 million. "We create our plant-based products using proprietary scientific processes that determine the architecture of the animal-based meat we're seeking to replicate. This dovetails into the strategy, this whole idea of, "Let's market not necessarily to vegetarians, but to meat eaters." You get into some of those small companies early on, and you can hang on for long periods of time and be a part of that growth story. This is a company you and I both follow. Beyond. Investors have every right to be at least a little bit excited there. It appears that they have developed a nice portfolio of products that people want. But it's growing on me. Through all of it, the platform has remained very engaging. 1 veggie burger in the United States. That's something that will continue to shine through for that business. Basically, they ask their retail grocery partners to put their products in the meat cases, right beside those really delicious looking cuts of beef and sausage. Speaking of YouTube, we've got a save-the-date for you here. Andy Cross, I, Chris Hill, we will be talking stocks after the closing bell and taking your questions. Beyond's … That was a 167% increase from the comparable nine months in 2017. It really keys in on a lot of the concerns that people have when they consider these types of offerings. Big focus on YouTube there. The mutual fund tracker priced a 7.6 million-share IPO Monday night at $18.50 a share. When you're in stores from Kroger to Whole Foods and everywhere in between, you're really capturing the biggest part of the market there. 2 Parent company of Smithfield. It was clever. Kellogg's MorningStar Farms division announced Wednesday the addition of a new line of products: Incogmeato. Asit, how's everything going? Take care! Both companies every year have a number of people that just have trials and fall off in the market, and they replenish those trials. Going back to something you were saying, going vegetarian every Tuesday, it's funny -- I've never been a vegetarian, never thought about it a whole lot. The company tracks more than 100,000 investment offerings and is best known for its use of a five-star rating system on mutual funds. Let me read a couple. Impossible Foods 101. Mostly, they're non-vegetarians. Moser: Yeah. They were shooting threes and they couldn't miss. Some strategic blunders there. Moser: OK, Asit, let's take a quick look here. Oftentimes, branding makes or breaks a product. What are the numbers? In addition to the new product, MorningStar Farms plans to make all of its existing products, including its vegetarian Breakfast Sausage Patties, vegan by 2021 in order to meet consumer demand and reduce its carbon footprint. It boils down to, what are your thoughts day, in honesty. 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