the shares were sold at a public offering price of $ 160.00 per share for net proceeds to the company of approximately $ 37.4 million , after deducting underwriting discounts and commissions of $ 1.5 million and issuance costs of approximately $ 1.1 million payable by us . total secondary offering costs paid in 2019 were approximately $ 2.2 million , of which approximately $ 1.1 million was capitalized to reflect the costs associated with the issuance of new shares and offset against proceeds from the secondary offering . we did not receive any proceeds from the sale of common stock by the selling stockholders in the secondary offering . we continue to experience strong sales growth over prior periods . net revenues increased to $ 297.9 million in 2019 from $ 87.9 million in 2018 and $ 32.6 million in 2017 , representing a 202 % compound annual growth rate . the beyond burger accounted for approximately 64 % , 70 % and 48 % of our gross revenues in 2019 , 2018 and 2017 , respectively . we believe that sales of the beyond burger will continue to constitute a significant portion of our revenues , income and cash flow for the foreseeable future . we have generated losses from inception . net loss in 2019 , 2018 , and 2017 was $ 12.4 million , $ 29.9 million , and $ 30.4 million , respectively , as we invested in innovation and growth of our business . we operate on a fiscal calendar year , and each interim quarter is comprised of one 5-week period and two 4-week periods , with each week ending on a saturday . our fiscal year always begins on january 1 and ends on 51 december 31. as a result , our first and fourth fiscal quarters may have more or fewer days included than a traditional 91-day fiscal quarter . components of our results of operations and trends and other factors affecting our business net revenues we generate net revenues primarily from sales of our products to our customers across mainstream grocery , mass merchandiser , club and convenience store , and natural retailer channels , direct to consumer , and various food-away-from-home channels , including restaurants , foodservice outlets and schools , mainly in the united states . we continue to experience strong sales growth over prior periods . the following factors and trends in our business have driven net revenue growth over prior periods and are expected to be key drivers of our net revenue growth for the foreseeable future : increased penetration across our restaurant and foodservice channel , including increased desire by restaurant and foodservice establishments , including large fsr and or global qsr customers , to add plant-based products to their menus and to highlight these offerings , and our retail channel , including mainstream grocery , mass merchandiser , club and convenience store , and natural retailer customers ; distribution expansion and increased velocity of our fresh product sales across our channels , by which we mean that the volume of our products sold per outlet has generally increased period-over-period due to greater adoption of and demand for our products ; increased international sales of our products across geographies , markets and channels as we continue to grow our numbers of international customers ; our continued innovation , including enhancing existing products and introducing new products across our plant-based beef , pork and poultry platforms that appeal to a broad range of consumers , including those who typically eat animal-based meat ; enhanced marketing efforts as we continue to build our brand and drive consumer adoption of our products , including scaling our go beyond marketing campaign launched in february 2019 , which seeks to mobilize our ambassadors to help raise brand awareness , define the category and remain its leader ; overall market trends , including growing consumer awareness and demand for nutritious , convenient and high protein plant-based foods ; and increased production levels as we scale production to meet demand for our products across our distribution channels both domestically and internationally . in addition to the factors and trends above , we expect the following to positively impact net revenues going forward : expansion of our own internal production facilities domestically and abroad to produce our woven proteins , blends of flavor systems and binding systems , and potentially convert our woven proteins into packaged products , while forming additional strategic relationships with co-manufacturers ; and localized production to increase the availability and speed with which we can get our products to customers internationally . net revenues from sales in our retail channel increased by 185.2 % in 2019 to $ 144.8 million from $ 50.8 million in 2018 , and by 99.2 % in 2018 from $ 25.5 million in 2017. net revenues from sales in our restaurant and foodservice channel increased by 312.0 % in 2019 to $ 153.1 million from $ 37.1 million in 2018 , and by 424.0 % in 2018 from $ 7.1 million in 2017. we expect further growth in both channels as we increase our production capacity in response to demand , scale internationally , add new customers and increase sales velocities at existing customers . 52 we distribute our products internationally , using distributors in more than 65 countries worldwide as of december 31 , 2019. in 2019 , we commenced co-manufacturing in canada and also expanded our partnership with one of our distributors to co-manufacture our innovative plant-based meats at a new co-manufacturing facility built by our distributor in the netherlands , construction of which was completed in the first quarter of 2020. our international net revenues ( which exclude revenues from canada ) are included in our retail and restaurant and foodservice channels and were approximately 16 % , 8 % and 1 % , respectively , of our net revenues in 2019 , 2018 and 2017. substantially all of our long-lived story_separator_special_tag we continue to incur legal fees in connection with our ongoing efforts to resolve this dispute . see note 3 , restructuring , to the notes to financial statements , and part i , item 3 , legal proceedings , included elsewhere in this report . total other expense , net total other expense , net primarily includes interest expense on the company 's debt balances and expense associated with the remeasurement of our preferred stock warrant liability and common stock warrant liability , partially offset by interest income . on may 6 , 2019 , in connection with the ipo , our then outstanding warrants exercisable for convertible preferred stock were automatically converted into warrants exercisable for common stock . we remeasured and reclassified the common stock warrant liability to additional-paid-in-capital in connection with the ipo and recorded $ 12.5 million in expense associated with the remeasurement of warrant liability in 2019 . interest income in 2019 increased due to interest income from invested proceeds from the ipo and secondary offering . subsequent to the closing of the ipo , all outstanding warrants to purchase shares of common stock were cashless exercised . no warrants were outstanding as of december 31 , 2019 . other , net was $ 3.6 million in 2019 as compared to $ 0.4 million in 2018 primarily due to increased interest income resulting from investment of proceeds from the ipo and secondary offering . loss from operations loss from operations in 2019 was $ 0.5 million compared to loss from operations of $ 28.0 million in the prior year . this improvement was driven entirely by the year-over-year increase in gross profit , partially offset by higher operating expenses to support our expanded manufacturing and supply chain operations , higher share-based compensation expense , higher administrative costs associated with being a public company , higher restructuring expenses , and continued investment in innovation and marketing capabilities . 58 income tax expense for 2019 and 2018 , we recorded income tax expense of $ 9,000 and $ 1,000 , respectively . these amounts primarily consist of income taxes for state jurisdictions which have minimum tax requirements . no tax benefit was provided for losses incurred because those losses were offset by a full valuation allowance . net loss net loss was $ 12.4 million in 2019 compared to a net loss of $ 29.9 million in the prior year . the decrease in net loss was primarily the result of the higher gross profit in 2019 and interest income , partially offset by higher operating expenses , higher share-based compensation expense , expenses associated with the remeasurement of our preferred stock warrant liability and common stock warrant liability in connection with the ipo , and higher interest expense . year ended december 31 , 2018 compared to year ended december 31 , 2017 net revenues replace_table_token_9_th replace_table_token_10_th net revenues increased by $ 55.4 million , or 169.9 % , in 2018 as compared to 2017 primarily due to strong growth in sales volumes of products in our fresh platform across both our retail and our restaurant and foodservice channels , partially offset by a decrease in net revenues from the frozen platform . gross revenues from sales of products in our fresh platform increased $ 63.6 million , or 351.1 % , primarily due to increases in sales of the beyond burger and beyond sausage . net revenues from retail sales increased $ 25.3 million , or 99.2 % , primarily due to increase in sales of the beyond burger . net revenues from sales through our restaurant and foodservice channel increased $ 30.1 million , or 424.0 % , primarily due to increased sales of the beyond burger , which was being served in approximately 11,000 restaurant and foodservice outlets at the end of 2018 , and due to increased sales of beyond sausage in 2018. the following tables present volume of our products sold in pounds : replace_table_token_11_th 59 replace_table_token_12_th cost of goods sold year ended december 31 , change ( in thousands ) 2018 2017 amount percentage cost of goods sold $ 70,360 $ 34,772 $ 35,588 102.3 % cost of goods sold increased by $ 35.6 million , or 102.3 % , in 2018 as compared to the prior year , primarily due to the increase in the sales volume of our products and from a 103 % increase in manufacturing-related headcount to handle increased demand for our products . cost of goods sold in 2017 includes $ 2.4 million in write-off of unrecoverable inventory related to the termination of an exclusive agreement with our co-manufacturer at the time . see note 3 , restructuring , to the notes to financial statements , and part i , item 3 , legal proceedings , included elsewhere in this report . gross profit ( loss ) and gross margin replace_table_token_13_th gross profit in 2018 was $ 17.6 million compared to gross loss of $ 2.2 million in 2017 , an improvement of $ 19.8 million . the improvement in gross profit and gross margin was primarily due to an increase in the amount of products sold , resulting in the ability to leverage our fixed costs across a greater amount of revenue . the greater proportion of product revenues from our fresh platform also contributed to the improvement in margin , due to a higher net selling price per pound of products in our fresh versus frozen platform . as disclosed in note 2 , summary of significant accounting policies—shipping and handling costs , in the notes to financial statements included elsewhere in this report , we include outbound shipping and handling costs within selling , general and administrative expense . as a result , our gross profit and gross margin may not be comparable to other entities that present all shipping and handling costs as a component of cost of goods sold . research and development expenses year ended december 31 ,

net cash provided by financing activities for the year ended december 31 , 2019 , net cash provided by financing activities was $ 294.9 million primarily as a result of $ 254.9 million in net proceeds from our ipo , net of issuance costs , $ 37.4 million in net proceeds to us from the secondary offering , net of issuance costs , and $ 2.7 million in proceeds from stock option exercises , partially offset by $ 55,000 in payments of capital lease obligations . for the year ended december 31 , 2018 , net cash provided by financing activities was $ 76.2 million primarily as a result of $ 51.3 million in proceeds from the issuance of our series g and series h preferred stock , net of issuance costs , $ 20.0 million in borrowings under our 2018 term loan facility , $ 6.0 million in borrowings under our 2018 revolving credit facility , $ 5.0 million in borrowings under an equipment loan facility , and $ 1.4 million in proceeds from stock option exercises , partially offset by cash outflows for repayment of a note with the missouri department of economic development , and borrowings under our 2016 revolving credit facility and 2016 term loan facility . the proceeds from the borrowings were used to finance our operations . for the year ended december 31 , 2017 , financing activities provided $ 55.4 million in cash as a result of $ 43.3 million of proceeds from the issuance of our series f and g preferred stock , net of issuance costs , $ 10.0 million in proceeds from the issuance of convertible notes that were eventually converted into series g preferred stock , $ 2.5 million in revolving credit facility borrowings and $ 0.4 million in proceeds from stock option exercises , partially offset by payments towards our revolving credit facility borrowings and capital lease obligations . the proceeds from the borrowings were used to finance our operations . as of december 31 , 2019 , we had borrowed the entire availability of $ 20.0 million under the 2018 term loan facility and $ 6.0 million under the 2018 revolving credit facility .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```net cash provided by financing activities for the year ended december 31 , 2019 , net cash provided by financing activities was $ 294.9 million primarily as a result of $ 254.9 million in net proceeds from our ipo , net of issuance costs , $ 37.4 million in net proceeds to us from the secondary offering , net of issuance costs , and $ 2.7 million in proceeds from stock option exercises , partially offset by $ 55,000 in payments of capital lease obligations . for the year ended december 31 , 2018 , net cash provided by financing activities was $ 76.2 million primarily as a result of $ 51.3 million in proceeds from the issuance of our series g and series h preferred stock , net of issuance costs , $ 20.0 million in borrowings under our 2018 term loan facility , $ 6.0 million in borrowings under our 2018 revolving credit facility , $ 5.0 million in borrowings under an equipment loan facility , and $ 1.4 million in proceeds from stock option exercises , partially offset by cash outflows for repayment of a note with the missouri department of economic development , and borrowings under our 2016 revolving credit facility and 2016 term loan facility . the proceeds from the borrowings were used to finance our operations . for the year ended december 31 , 2017 , financing activities provided $ 55.4 million in cash as a result of $ 43.3 million of proceeds from the issuance of our series f and g preferred stock , net of issuance costs , $ 10.0 million in proceeds from the issuance of convertible notes that were eventually converted into series g preferred stock , $ 2.5 million in revolving credit facility borrowings and $ 0.4 million in proceeds from stock option exercises , partially offset by payments towards our revolving credit facility borrowings and capital lease obligations . the proceeds from the borrowings were used to finance our operations . as of december 31 , 2019 , we had borrowed the entire availability of $ 20.0 million under the 2018 term loan facility and $ 6.0 million under the 2018 revolving credit facility .
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 Suspicious Activity Report : the shares were sold at a public offering price of $ 160.00 per share for net proceeds to the company of approximately $ 37.4 million , after deducting underwriting discounts and commissions of $ 1.5 million and issuance costs of approximately $ 1.1 million payable by us . total secondary offering costs paid in 2019 were approximately $ 2.2 million , of which approximately $ 1.1 million was capitalized to reflect the costs associated with the issuance of new shares and offset against proceeds from the secondary offering . we did not receive any proceeds from the sale of common stock by the selling stockholders in the secondary offering . we continue to experience strong sales growth over prior periods . net revenues increased to $ 297.9 million in 2019 from $ 87.9 million in 2018 and $ 32.6 million in 2017 , representing a 202 % compound annual growth rate . the beyond burger accounted for approximately 64 % , 70 % and 48 % of our gross revenues in 2019 , 2018 and 2017 , respectively . we believe that sales of the beyond burger will continue to constitute a significant portion of our revenues , income and cash flow for the foreseeable future . we have generated losses from inception . net loss in 2019 , 2018 , and 2017 was $ 12.4 million , $ 29.9 million , and $ 30.4 million , respectively , as we invested in innovation and growth of our business . we operate on a fiscal calendar year , and each interim quarter is comprised of one 5-week period and two 4-week periods , with each week ending on a saturday . our fiscal year always begins on january 1 and ends on 51 december 31. as a result , our first and fourth fiscal quarters may have more or fewer days included than a traditional 91-day fiscal quarter . components of our results of operations and trends and other factors affecting our business net revenues we generate net revenues primarily from sales of our products to our customers across mainstream grocery , mass merchandiser , club and convenience store , and natural retailer channels , direct to consumer , and various food-away-from-home channels , including restaurants , foodservice outlets and schools , mainly in the united states . we continue to experience strong sales growth over prior periods . the following factors and trends in our business have driven net revenue growth over prior periods and are expected to be key drivers of our net revenue growth for the foreseeable future : increased penetration across our restaurant and foodservice channel , including increased desire by restaurant and foodservice establishments , including large fsr and or global qsr customers , to add plant-based products to their menus and to highlight these offerings , and our retail channel , including mainstream grocery , mass merchandiser , club and convenience store , and natural retailer customers ; distribution expansion and increased velocity of our fresh product sales across our channels , by which we mean that the volume of our products sold per outlet has generally increased period-over-period due to greater adoption of and demand for our products ; increased international sales of our products across geographies , markets and channels as we continue to grow our numbers of international customers ; our continued innovation , including enhancing existing products and introducing new products across our plant-based beef , pork and poultry platforms that appeal to a broad range of consumers , including those who typically eat animal-based meat ; enhanced marketing efforts as we continue to build our brand and drive consumer adoption of our products , including scaling our go beyond marketing campaign launched in february 2019 , which seeks to mobilize our ambassadors to help raise brand awareness , define the category and remain its leader ; overall market trends , including growing consumer awareness and demand for nutritious , convenient and high protein plant-based foods ; and increased production levels as we scale production to meet demand for our products across our distribution channels both domestically and internationally . in addition to the factors and trends above , we expect the following to positively impact net revenues going forward : expansion of our own internal production facilities domestically and abroad to produce our woven proteins , blends of flavor systems and binding systems , and potentially convert our woven proteins into packaged products , while forming additional strategic relationships with co-manufacturers ; and localized production to increase the availability and speed with which we can get our products to customers internationally . net revenues from sales in our retail channel increased by 185.2 % in 2019 to $ 144.8 million from $ 50.8 million in 2018 , and by 99.2 % in 2018 from $ 25.5 million in 2017. net revenues from sales in our restaurant and foodservice channel increased by 312.0 % in 2019 to $ 153.1 million from $ 37.1 million in 2018 , and by 424.0 % in 2018 from $ 7.1 million in 2017. we expect further growth in both channels as we increase our production capacity in response to demand , scale internationally , add new customers and increase sales velocities at existing customers . 52 we distribute our products internationally , using distributors in more than 65 countries worldwide as of december 31 , 2019. in 2019 , we commenced co-manufacturing in canada and also expanded our partnership with one of our distributors to co-manufacture our innovative plant-based meats at a new co-manufacturing facility built by our distributor in the netherlands , construction of which was completed in the first quarter of 2020. our international net revenues ( which exclude revenues from canada ) are included in our retail and restaurant and foodservice channels and were approximately 16 % , 8 % and 1 % , respectively , of our net revenues in 2019 , 2018 and 2017. substantially all of our long-lived story_separator_special_tag we continue to incur legal fees in connection with our ongoing efforts to resolve this dispute . see note 3 , restructuring , to the notes to financial statements , and part i , item 3 , legal proceedings , included elsewhere in this report . total other expense , net total other expense , net primarily includes interest expense on the company 's debt balances and expense associated with the remeasurement of our preferred stock warrant liability and common stock warrant liability , partially offset by interest income . on may 6 , 2019 , in connection with the ipo , our then outstanding warrants exercisable for convertible preferred stock were automatically converted into warrants exercisable for common stock . we remeasured and reclassified the common stock warrant liability to additional-paid-in-capital in connection with the ipo and recorded $ 12.5 million in expense associated with the remeasurement of warrant liability in 2019 . interest income in 2019 increased due to interest income from invested proceeds from the ipo and secondary offering . subsequent to the closing of the ipo , all outstanding warrants to purchase shares of common stock were cashless exercised . no warrants were outstanding as of december 31 , 2019 . other , net was $ 3.6 million in 2019 as compared to $ 0.4 million in 2018 primarily due to increased interest income resulting from investment of proceeds from the ipo and secondary offering . loss from operations loss from operations in 2019 was $ 0.5 million compared to loss from operations of $ 28.0 million in the prior year . this improvement was driven entirely by the year-over-year increase in gross profit , partially offset by higher operating expenses to support our expanded manufacturing and supply chain operations , higher share-based compensation expense , higher administrative costs associated with being a public company , higher restructuring expenses , and continued investment in innovation and marketing capabilities . 58 income tax expense for 2019 and 2018 , we recorded income tax expense of $ 9,000 and $ 1,000 , respectively . these amounts primarily consist of income taxes for state jurisdictions which have minimum tax requirements . no tax benefit was provided for losses incurred because those losses were offset by a full valuation allowance . net loss net loss was $ 12.4 million in 2019 compared to a net loss of $ 29.9 million in the prior year . the decrease in net loss was primarily the result of the higher gross profit in 2019 and interest income , partially offset by higher operating expenses , higher share-based compensation expense , expenses associated with the remeasurement of our preferred stock warrant liability and common stock warrant liability in connection with the ipo , and higher interest expense . year ended december 31 , 2018 compared to year ended december 31 , 2017 net revenues replace_table_token_9_th replace_table_token_10_th net revenues increased by $ 55.4 million , or 169.9 % , in 2018 as compared to 2017 primarily due to strong growth in sales volumes of products in our fresh platform across both our retail and our restaurant and foodservice channels , partially offset by a decrease in net revenues from the frozen platform . gross revenues from sales of products in our fresh platform increased $ 63.6 million , or 351.1 % , primarily due to increases in sales of the beyond burger and beyond sausage . net revenues from retail sales increased $ 25.3 million , or 99.2 % , primarily due to increase in sales of the beyond burger . net revenues from sales through our restaurant and foodservice channel increased $ 30.1 million , or 424.0 % , primarily due to increased sales of the beyond burger , which was being served in approximately 11,000 restaurant and foodservice outlets at the end of 2018 , and due to increased sales of beyond sausage in 2018. the following tables present volume of our products sold in pounds : replace_table_token_11_th 59 replace_table_token_12_th cost of goods sold year ended december 31 , change ( in thousands ) 2018 2017 amount percentage cost of goods sold $ 70,360 $ 34,772 $ 35,588 102.3 % cost of goods sold increased by $ 35.6 million , or 102.3 % , in 2018 as compared to the prior year , primarily due to the increase in the sales volume of our products and from a 103 % increase in manufacturing-related headcount to handle increased demand for our products . cost of goods sold in 2017 includes $ 2.4 million in write-off of unrecoverable inventory related to the termination of an exclusive agreement with our co-manufacturer at the time . see note 3 , restructuring , to the notes to financial statements , and part i , item 3 , legal proceedings , included elsewhere in this report . gross profit ( loss ) and gross margin replace_table_token_13_th gross profit in 2018 was $ 17.6 million compared to gross loss of $ 2.2 million in 2017 , an improvement of $ 19.8 million . the improvement in gross profit and gross margin was primarily due to an increase in the amount of products sold , resulting in the ability to leverage our fixed costs across a greater amount of revenue . the greater proportion of product revenues from our fresh platform also contributed to the improvement in margin , due to a higher net selling price per pound of products in our fresh versus frozen platform . as disclosed in note 2 , summary of significant accounting policies—shipping and handling costs , in the notes to financial statements included elsewhere in this report , we include outbound shipping and handling costs within selling , general and administrative expense . as a result , our gross profit and gross margin may not be comparable to other entities that present all shipping and handling costs as a component of cost of goods sold . research and development expenses year ended december 31 ,

