STKH in three months: buy, wait or sell?
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Steakholder Foods helps food producers make plant-based alternatives with the structure and texture of meat or seafood. Its industrial 3D printers shape ingredient blends into fibrous meat-like or flaky fish-like products. Food companies are the intended buyers of the machines and the SHMeat and SHFish premix blends used in them, and can sell the resulting foods under their own brands.
The company is also preparing to sell its own branded foods through local distributors. Separately, its partner Bondor Foods manufactures plant-based white-fish kebabs and salmon patties sold in Israeli vegan specialty stores under the Green Future (Atid Yarok) brand.
The business remains in early commercialization, with minimal revenue so far and initial sales coming from premix blends. It depends on food producers adopting its printing technology and expects parts of its model initially to rely on a few customers. Operations have mainly been funded by equity fundraising, and continued operation depends on obtaining further financing.
Its printers must meet applicable food-contact requirements. Customers bear responsibility for ensuring the foods they produce comply with food rules; an external supplier is expected to carry primary manufacturing responsibility for the company's planned branded products.
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Steakholder’s results hinge on turning food-producer partnerships such as Bondor Foods into printer and premix sales while competing with Redefine Meat, Chunk Foods and Juicy Marbles.
Beyond Meat and Steakholder both depend on demand for plant-based meat, but Beyond Meat sells the food itself while Steakholder sells food producers the printers and premixes to make it. Beyond Meat’s plant-based meat revenue, mainly from North America and Europe, offers a read on demand in the market Steakholder equips.
Beyond Meat, Inc. earningsBYND
Beyond Meat’s report will show how demand for plant-based meat is changing in the market Steakholder Foods equips with printers and premixes.
Read Beyond Meat’s plant-based meat revenue. Growth would suggest firmer demand in the market food producers serve, which could support their adoption of Steakholder Foods’ printers and premixes; a decline would suggest that market remains hard to commercialize, leaving adoption harder to support.