Revenues for Beyond Meat dropped almost 9% in the third quarter as plummeting demand for its products in the United States overpowered higher sales of its plant-derived meat products in Europe.

On Wednesday, the company reported revenue for the July-September period came in at $75.3 million. It fell far under the $86.5 million Wall Street was anticipating following a poll of analysts by FactSet.

The California-based faux-meat maker reduced its net loss for the period to $70.5 million. One year ago, net loss came in at $101.7 million for the same period. The loss, which worked out to $1.09 per share, was also worse than analysts expectations, which were for an $0.89 loss per share.

The company downgraded its third quarter and full year forecasts for revenue last week, noting a rebound it had been anticipating in plant-based meat sales failed to happen. In the announcement Beyond Meat noted it would be reducing its workforce by 65 non-production jobs, about 19% of all workers, and it would be reviewing its operations more broadly.

This year has seen the demand for plant-based meat in the United States plunge. According to Circana, a market research firm, US retail dollar sales of alternatives to fresh meat, like sausage and burgers, fell 21.5% in 2023 through October 8th. Among frozen plant-based meat sales, such as tenders and nuggets, sales fell 6%.