Financial Performance - Fourth quarter net revenue decreased 22.4% to $55.9 million compared to $72.0 million in Q4 2023, within the company's guidance range [4] - Full year net revenue decreased 25.3% to $189.8 million compared to $254.1 million in 2023 [8] - Fourth quarter net loss was $25.7 million, or $3.23 per share, compared to a net loss of $56.8 million in Q4 2023 [8] - Full year net loss was $93.3 million, or $11.87 per share, compared to a net loss of $152.5 million in 2023 [12] - Adjusted EBITDA loss for Q4 2024 was $19.2 million, above the company's guidance range; full year adjusted EBITDA loss was $70.0 million [7][12] - The total comprehensive loss for Q4 2024 was $28,378,000, compared to $55,065,000 in Q4 2023, showing a 48.5% reduction [26] - The company experienced a full year net loss of $93,318,000 in 2024, compared to a net loss of $152,458,000 in 2023 [37] Gross Margin and Expenses - Fourth quarter gross margin declined approximately 670 basis points to 31.3% compared to 38.0% in Q4 2023; full year gross margin improved approximately 170 basis points to 42.7% [5][9] - Marketing expense in 2024 totaled $41.6 million, or 21.9% of net revenue, compared to $49.0 million, or 19.3% in 2023, primarily driven by decreased digital advertising spend [10] - Total operating expenses for Q4 2024 were $43,249,000, a reduction of 49.1% compared to $85,013,000 in Q4 2023 [26] - The net loss for Q4 2024 was $25,678,000, compared to a net loss of $56,779,000 in Q4 2023, indicating a 54.8% improvement [26] Inventory and Cash Flow - Inventory at quarter end was $44.1 million, representing a decrease of 23.6% versus a year ago [7] - Cash and cash equivalents decreased to $66,732,000 at the end of 2024 from $130,032,000 at the end of 2023 [30] - The company reported a net cash used in operating activities of $63,860,000 for 2024, compared to $30,222,000 in 2023 [32] Assets and Liabilities - Total assets decreased to $188,879,000 in 2024 from $312,705,000 in 2023, a decline of 39.6% [30] - Total liabilities decreased to $87,194,000 in 2024 from $127,376,000 in 2023, a reduction of 31.6% [30] Future Guidance and Strategic Changes - The company provided 2025 guidance with expected net revenue of $175 million to $195 million, including U.S. net revenue of $145 million to $160 million [13] - The transition to a distributor model in international markets is expected to negatively impact revenue by approximately $18 million to $23 million in 2025 [13] - The company closed a total of 14 stores in the U.S. throughout 2024, reducing the total store count to 30 by December 2024 [40] - The company transitioned operations of multiple international stores to distributors, including six stores in China in Q3 2024 [40] International Revenue - International net revenue for Q4 2024 was $9,882,000, down 38.5% from $16,190,000 in Q4 2023 [37] Stock-Based Compensation and Impairment - The company reported stock-based compensation expense of $2,579,000 for Q4 2024, down from $3,684,000 in Q4 2023 [34] - The impairment expense for Q4 2024 was $1,800,000, consistent with the same amount in Q4 2023 [34]

Core Insights - Allbirds, Inc. reported financial results for Q4 and full year 2024, showing a decrease in net revenue and net loss compared to the previous year [2][10]. Financial Performance - Q4 2024 net revenue decreased by 22.4% to $55.9 million from $72.0 million in Q4 2023, primarily due to lower unit sales and international distributor transitions [5][11]. - Full year 2024 net revenue decreased by 25.3% to $189.8 million compared to $254.1 million in 2023 [11]. - Q4 gross profit was $17.5 million, down from $27.4 million in Q4 2023, with gross margin declining approximately 670 basis points to 31.3% [6][10]. - Full year gross margin improved by approximately 170 basis points to 42.7% in 2024 from 41.0% in 2023 [12][15]. - Q4 net loss was $25.7 million, or $3.23 per share, compared to a net loss of $56.8 million, or $7.39 per share, in Q4 2023 [9][10]. - Full year net loss was $93.3 million, or $11.87 per share, compared to $152.5 million, or $20.10 per share, in 2023 [10][15]. Operating Expenses - Selling, general, and administrative expenses (SG&A) in Q4 2024 were $29.2 million, or 52.2% of net revenue, down from $41.5 million, or 57.7% in Q4 2023 [7][10]. - Marketing expenses totaled $12.3 million, or 22.0% of net revenue, compared to $14.9 million, or 20.6% in Q4 2023 [8][10]. - Full year SG&A was $133.4 million, or 70.3% of net revenue, compared to $174.0 million, or 68.5% in 2023 [13][15]. Balance Sheet and Cash Flow - As of December 31, 2024, Allbirds had $66.7 million in cash and cash equivalents, with no outstanding borrowings under its $50.0 million revolving credit facility [10][16]. - Inventory at the end of Q4 2024 was $44.1 million, a decrease of 23.6% compared to the previous year [10][16]. 2025 Financial Guidance - Allbirds anticipates a negative revenue impact of approximately $18 million to $23 million in 2025 due to the transition from a direct selling model to a distributor model in international markets and the closure of 20 stores in the U.S. [17][19]. - For Q1 2025, the company projects net revenue between $28 million and $33 million, with adjusted EBITDA loss expected to be between $28 million and $25 million [19].

Core Insights - Allbirds, Inc. (BIRD) is expected to report a quarterly loss of $3.40 per share, a 22.7% increase in loss compared to the same period last year [1] - Revenue is forecasted at $55.5 million, reflecting a year-over-year decrease of 22.9% [1] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a reevaluation of initial estimates by analysts [1] Revenue Breakdown - 'Net Revenue- International' is projected to be $10.16 million, a decrease of 37.3% from the prior-year quarter [4] - 'Net Revenue- United States' is estimated to reach $45.20 million, suggesting a year-over-year decline of 19% [4] - Analysts expect the number of 'Stores' to be 34, down from 60 in the previous year [4] Market Performance - Allbirds, Inc. shares have shown a return of -11.6% over the past month, compared to a -4.1% change in the Zacks S&P 500 composite [5] - The company holds a Zacks Rank 2 (Buy), indicating expectations to outperform the overall market in the near future [5]

Core Insights - Allbirds launched a new content series titled "Cards On The Table," featuring a diverse lineup of guests and hosted by Stanley Tucci, aimed at exploring human connections through personal stories [1][2][5] Group 1: Series Overview - The series consists of four episodes and is part of the "Allbirds by Nature" platform, designed to foster curiosity and connection among guests from various backgrounds [1][2] - The first episode features guests such as Tan France, Carlos Sainz Jr., and Mel C, with future episodes including a range of notable personalities [5][7] Group 2: Production and Collaboration - The series is produced in collaboration with OBB Pictures and Salt Productions, with executive producers including Stanley Tucci and several others from OBB Media [4][6] - Dr. Orna Guralnik, a clinical psychologist, contributed to the series by creating discussion cards tailored to each episode's guests, enhancing the depth of conversations [3][5] Group 3: Brand Values and Marketing - Allbirds emphasizes its core value of "Live Curiously," aiming to highlight individuals who embody this ethos through their unique stories and approaches [5][7] - The series will be available weekly on Rolling Stone's YouTube channel and across Allbirds' digital platforms, promoting the brand's commitment to authentic storytelling [4][5]

Core Viewpoint - Allbirds, Inc. will release its fourth quarter and full year 2024 financial results on March 11, 2025, after market close, followed by a conference call to discuss the results [1]. Company Overview - Allbirds, Inc. is a global modern lifestyle footwear brand founded in 2015, focusing on sustainability and innovative materials [3]. - The company is known for its iconic Wool Runner and offers a range of products designed for superior comfort, utilizing materials such as Merino wool, tree fiber, and sugarcane [3]. Investor Relations - A live webcast of the upcoming conference call will be available on the Allbirds investor relations website, with a replay accessible for 12 months post-call [2]. - Contact information for investor relations and media inquiries is provided [4].

Core Viewpoint - Allbirds is launching the M0.0NSHOT Zero, the world's first net zero carbon shoe, on February 6, 2025, showcasing a significant advancement in sustainable footwear through innovative use of carbon-negative materials [1][3][6]. Product Details - The M0.0NSHOT Zero will be available in a limited edition of 500 pairs, sold in select cities including New York, London, Dubai, Tokyo, and Seoul [2][9]. - Each pair will feature a unique production number to highlight its rarity and significance [2]. - The shoe is priced at $200 USD and comes in unisex sizes 6-11 [8]. Sustainability Innovation - The shoe utilizes carbon-negative, regenerative wool sourced from New Zealand's Lake Hawea Station, which sequesters more carbon than it emits due to sustainable farming practices [4][10]. - Allbirds aims to reduce the carbon footprint of its products by using a greater share of regenerative wool, marking a shift in sustainable design philosophy [3][4]. Development Process - The project began in 2022 with the goal of creating a net zero carbon shoe, a challenging target compared to the industry average sneaker's carbon footprint of 14 kg CO₂e [6]. - After extensive research and development, including dozens of iterations, the first prototype was unveiled in 2023 [6]. Industry Impact - Allbirds has published an open-sourced toolkit to share innovations and methodologies that contributed to the M0.0NSHOT Zero, encouraging other brands to adopt sustainable practices [5]. - The company emphasizes the potential for the fashion industry to drive innovation in the climate fight, advocating for progress over perfection [6].

Core Insights - Allbirds is launching the M0.0NSHOT Zero, the world's first net zero carbon shoe, on February 6, 2025, utilizing carbon-negative materials like regenerative wool [1][3][6] - The shoe will be available in a limited edition of 500 pairs across select cities, emphasizing its rarity and innovative design [2][8] - The development of M0.0NSHOT Zero reflects Allbirds' decade-long commitment to sustainability and reducing the climate impact of its products [3][6] Product Details - M0.0NSHOT Zero features a unique production number for each pair, highlighting its limited availability [2] - The shoe is designed using a significant amount of regenerative wool sourced from New Zealand's Lake Hawea Station, which practices carbon sequestration [4][10] - It will be sold in unisex sizes 6-11 for $200 USD, with specific size conversions provided [8] Sustainability Efforts - Allbirds has created an open-sourced toolkit to share innovations and methodologies that contributed to the development of M0.0NSHOT Zero, encouraging other brands to adopt sustainable practices [5] - The project began in 2022, aiming to create a shoe with a carbon footprint significantly lower than the industry average sneaker, which is estimated at 14 kg CO₂e [6][10] - The carbon footprint calculation for M0.0NSHOT Zero includes on-farm carbon sequestration, deviating from standard industry practices to provide a more comprehensive view of emissions [10]

Core Insights - Allbirds is forecasting a 25% decline in revenue for the full year, projecting revenue to be around $190 million and an adjusted EBITDA loss of $73 million, which is an improvement of $24 million from 2023 [3] - The company reported a 25% drop in net revenue to $43 million in Q3 2024, alongside a net loss of $21.2 million, and burned through $11 million in cash during the quarter [11] - Analysts express mixed views on Allbirds' future, with some believing that the company needs to grow revenue rather than just cut costs to achieve profitability [4][5] Financial Performance - Allbirds' Q3 2024 financial performance showed a significant decline, with net revenue falling to $43 million and a net loss of $21.2 million [11] - The company is holding $79 million in cash and equivalents at the end of Q3, indicating a need for careful cash management moving forward [11] - The forecast for the full year indicates a significant adjusted EBITDA loss of $73 million, reflecting ongoing financial challenges [3] Market Position and Strategy - The new CEO, Joe Vernachio, aims to reintroduce the Allbirds brand and reinforce its aspirational position in the market [20] - Analysts are skeptical about Allbirds' ability to attract consumers who prioritize sustainable materials over design and style [4] - The company is developing new products, such as the Tree Glider and slip-on Lounger Lift, which have received positive consumer feedback [8] Industry Trends - Retail bankruptcies and store closures are on the rise, with 7,100 stores closed in 2024, a 69% increase from the previous year, and 45 retailers filing for bankruptcy, an 80% increase from 2023 [21] - The competitive landscape is shifting, with consumers increasingly seeking value, leading to challenges for retailers like Allbirds that may not be meeting these expectations [14][17]

Core Insights - Allbirds, Inc. will participate in the Morgan Stanley Global Consumer & Retail Conference on December 4, 2024, in New York City, with CEO Joe Vernachio and CFO Annie Mitchell representing the company [1] Company Overview - Allbirds, Inc. is based in San Francisco and originated in New Zealand, launching in 2016 with the Wool Runner shoe, which has become iconic [2] - The company has sold millions of pairs of shoes while focusing on comfort, style, and quality, utilizing sustainable materials such as SweetFoam™, made from sugarcane, and textiles from eucalyptus fibers and Merino wool [2]

Allbirds, Inc. (BIRD) posted third-quarter 2024 results, wherein the bottom line outpaced the Zacks Consensus Estimate. Earnings were also above the year-ago quarterly number. However, the year-over-year decline in revenues was a disappointment.The company recently transitioned to a distributor model in China, streamlining its operations for better market penetration. It entered into a new distributor agreement covering six key European countries, further extending its reach in mainland Europe. Following th ...