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 ...

Financial Data and Key Metrics Changes - Net revenue for Q3 2024 totaled $43 million, reflecting lower unit sales partially offset by higher average selling prices [34] - Gross margin expanded by 90 basis points year-over-year to 44.4%, attributed to lower freight and duty costs [35] - SG&A expenses, excluding stock-based compensation and depreciation, totaled $25 million, down 24% year-over-year [36] - Cash and cash equivalents stood at $79 million with no outstanding borrowings [39] - Inventory decreased by 28% year-over-year to $57 million, indicating healthy levels heading into the holiday season [40] Business Line Data and Key Metrics Changes - The company launched two new products: the Tree Glider and the Lounger Lift, which received strong consumer response [9][10] - The company closed one US store in Q3 and an additional one shortly after, totaling 15 closures in 2024 [11][36] Market Data and Key Metrics Changes - Full year 2024 U.S. net revenue is expected to be between $143 million to $147 million, including a $10 million to $12 million impact from store closures [42] - International revenue is projected to be between $44 million and $46 million, with a $13 million to $16 million impact from transitions to a distributor model [43] Company Strategy and Development Direction - The company is focusing on a strategic transformation plan, including a shift to a distributor model in certain international markets [12] - Emphasis on product innovation and marketing initiatives to enhance brand awareness and cultural relevance [17][21] - Plans to improve e-commerce and in-store experiences starting mid-2025 [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the steps being taken to advance the business and achieve growth and profitability [8][13] - The company anticipates a return to growth in the back half of 2025, driven by a rich product pipeline and enhanced marketing efforts [51] Other Important Information - The company reported a 22% reduction in its per unit carbon footprint, highlighting its commitment to sustainability [30] - The M0.0NSHOT Zero, a net zero carbon shoe, was recognized in Time Magazine's Best Inventions of 2024 [30] Q&A Session Summary Question: Clarification on Q4 revenue guidance and factors affecting it - Management indicated that the timing of marketing spend and additional store closures contributed to the Q4 guidance, along with a stronger inventory position reducing the need for aggressive promotions [50] Question: Details on branded content planned for next year - The company is focusing on creating engaging content under the "Allbirds by Nature" narrative, with plans to partner with OBB Media for a premium digital content series [52][53] Question: Inquiry about inventory composition and SG&A expenses - Management confirmed that inventory levels are healthy, with a focus on in-season appropriate goods, and noted ongoing improvements in SG&A expenses [60][62] Question: Cash burn expectations and gross margin outlook - Management stated that the $11 million cash burn is expected to fluctuate seasonally, with a small uptick anticipated as new products are introduced in 2025 [64][66]

For the quarter ended September 2024, Allbirds, Inc. (BIRD) reported revenue of $43 million, down 24.9% over the same period last year. EPS came in at -$2.68, compared to -$4.20 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $42.11 million, representing a surprise of +2.10%. The company delivered an EPS surprise of +14.38%, with the consensus EPS estimate being -$3.13.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...

Allbirds, Inc. (BIRD) came out with a quarterly loss of $2.68 per share versus the Zacks Consensus Estimate of a loss of $3.13. This compares to loss of $4.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.38%. A quarter ago, it was expected that this company would post a loss of $3.60 per share when it actually produced a loss of $2.40, delivering a surprise of 33.33%.Over the last four quarters, the company has surpassed ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-40963 Allbirds, Inc. (Exact name of registrant as specified in its charter) Delaware 47-3999983 (State or other jurisdiction of ...

Financial Performance - Q3 2024 net revenue decreased 24.9% to $43.0 million compared to $57.2 million in Q3 2023[2] - Q3 2024 net loss was $21.2 million, or $2.68 per share, compared to a net loss of $31.6 million in Q3 2023[7] - Net revenue for Q3 2024 was $42,996,000, a decrease of 25% compared to $57,244,000 in Q3 2023[31] - The net loss for Q3 2024 was $21,177,000, compared to a net loss of $31,575,000 in Q3 2023, indicating an improvement of 32.7%[24] - Adjusted EBITDA for Q3 2024 was $(16.241) million, compared to $(18.976) million in Q3 2023, reflecting an adjusted EBITDA margin of (37.8)%[31] - Total net revenue for the nine months ended September 30, 2024, was $133.905 million, down from $182.075 million in the same period of 2023[32] Cost and Expenses - Q3 2024 SG&A expenses were $31.0 million, or 72.0% of net revenue, down from $43.5 million, or 76.1% in Q3 2023[5] - Marketing expenses in Q3 2024 totaled $9.9 million, or 22.9% of net revenue, compared to $10.2 million, or 17.8% in Q3 2023[6] - Total operating expenses for Q3 2024 were $40,857,000, down from $54,955,000 in Q3 2023, resulting in a loss from operations of $21,782,000[24] - Stock-based compensation expense for Q3 2024 was $2.620 million, compared to $4.690 million in Q3 2023[30] - Depreciation and amortization expense for Q3 2024 was $2.886 million, down from $5.162 million in Q3 2023[30] Inventory and Assets - Inventory at the end of Q3 2024 was $57.5 million, a decrease of 28.1% year-over-year[12] - Cash and cash equivalents decreased to $78,627,000 as of September 30, 2024, down from $130,032,000 at the end of 2023[27] - Total assets decreased to $221,914,000 as of September 30, 2024, compared to $312,705,000 at the end of 2023[28] - Total stockholders' equity decreased to $127,345,000 as of September 30, 2024, down from $185,329,000 at the end of 2023[28] Guidance and Projections - Full year 2024 revenue guidance updated to $187 million to $193 million, down from prior guidance of $190 million to $210 million[14] - Adjusted EBITDA loss for full year 2024 is projected to be between $75 million and $71 million[14] Operational Changes - The company completed its transition to a distributor model in China and entered into new distributor agreements in Europe and Latin America[2] - Allbirds closed three stores in the US in Q1 2024, ten stores in Q2 2024, and one store in Q3 2024, indicating a strategic reduction in physical retail presence[34] - The total store count as of September 30, 2024, was 34, down from 60 stores as of September 30, 2023[33] - The company transitioned operations of six stores in China to third-party distributors in Q3 2024, reflecting a shift in operational strategy[34] Environmental Impact - The company reported a 22% reduction in its per unit carbon footprint in 2023 compared to 2022[2] Foreign Currency Impact - The company reported a foreign currency translation income of $1,880,000 in Q3 2024, compared to a loss of $906,000 in Q3 2023[25] Share Information - The weighted-average shares used in computing net loss per share increased to 7,900,246 in Q3 2024 from 7,605,191 in Q3 2023[25]

Q3 2024 Results Within Guidance RangesUpdates Full Year Outlook SAN FRANCISCO, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Allbirds, Inc. (NASDAQ: BIRD), a global lifestyle brand that innovates with sustainable materials to make better products in a better way, today reported financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Overview Third quarter net revenue decreased 24.9% to $43.0 million versus a year ago, within the Company’s guidance range.Third quarter gross margin improved a ...

Allbirds, Inc. (BIRD) shares rallied 12.8% in the last trading session to close at $11.78. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.3% loss over the past four weeks.The company is optimistic about its ongoing operational and financial improvements, reflecting a significant milestone in its strategic transformation over the past 18 months. With a focus on three core areas — product quality, compellin ...

lovelyday12 Allbirds, Inc. (NASDAQ:BIRD) has recently announced a 1/20 reverse split to maintain compliance with the NASDAQ's minimum bid price requirement of $1 per share. Since then, the share price has increased over 30%, showing some optimism among shareholders. In this article, I considered reviewing Allbirds' recent financial performance, with an emphasis on the headwinds that the company is facing, such as declining demand for their products, which has resulted in poor financial results. In the outlo ...