Core Insights - Allbirds shares fell nearly 10% in after-market trading following a lowered yearly guidance after the latest earnings report [1] - The company reported a 23.3% decrease in net revenue for Q3 fiscal 2025, totaling $33.0 million compared to $43.0 million in the same period last year [1][2] - Allbirds experienced a net loss of $20.3 million in Q3, slightly improved from a loss of $21.2 million in Q3 2024 [1] Revenue and Earnings - The year-over-year revenue decrease is attributed to structural changes, including international distributor transitions and planned retail store closures [2] - Q3 earnings were in line with expectations, with the company anticipating net revenue between $33 million and $38 million, while analysts expected between $33 million and $35.5 million [2] - For the full fiscal year 2025, Allbirds expects net revenue between $161 million and $166 million, down from previous guidance of $165 million to $180 million [5] Future Outlook - Allbirds anticipates a revenue impact of approximately $23 million to $25 million due to the transition from a direct selling model to a distributor model in certain international markets and the closure of some U.S. stores [4] - The company plans to support its product engine with compelling marketing content to capture consumer interest and reignite growth during the holiday season [4] - Allbirds is focused on accelerating progress under its turnaround strategy while taking steps to reduce costs, enhance liquidity, and pursue value-creating opportunities [6]