Allbirds Inc
NASDAQ:BIRD
Allbirds Inc
Allbirds, Inc. is a global lifestyle brand that innovates with naturally derived materials to make footwear and apparel products in a better way, while treading lighter on the planet. The company is headquartered in San Francisco, California and currently employs 710 full-time employees. The company went IPO on 2021-11-03. The firm's products include men's shoes, women's shoes, men's apparel, women's apparel, socks and gift cards. The company offers various categories of shoes such as running shoes, everyday sneakers, high-tops, slip-ons, boat shoes, weather repellent shoes, flats and sandals. Allbirds apparel offerings include activewear, tops, bottoms, sweaters and underwear. The firm's product, the Wool Runner is made up of merino wool combined with its SweetFoam sole, made with the carbon-negative green ethylene-vinyl acetate (EVA). Its products are made up of materials from natural sources such as tree fiber, sugarcane, crab shells, and others.
Allbirds, Inc. is a global lifestyle brand that innovates with naturally derived materials to make footwear and apparel products in a better way, while treading lighter on the planet. The company is headquartered in San Francisco, California and currently employs 710 full-time employees. The company went IPO on 2021-11-03. The firm's products include men's shoes, women's shoes, men's apparel, women's apparel, socks and gift cards. The company offers various categories of shoes such as running shoes, everyday sneakers, high-tops, slip-ons, boat shoes, weather repellent shoes, flats and sandals. Allbirds apparel offerings include activewear, tops, bottoms, sweaters and underwear. The firm's product, the Wool Runner is made up of merino wool combined with its SweetFoam sole, made with the carbon-negative green ethylene-vinyl acetate (EVA). Its products are made up of materials from natural sources such as tree fiber, sugarcane, crab shells, and others.
Sales: Q3 net revenue was $33 million, at the low end of guidance due to slower performance in core franchises but strong new product launches.
Product Momentum: New styles like the Wool Cruiser, waterproof collection, and slipper line performed well and are driving positive customer response.
Margins: Gross margin declined to 43.2% from 44.4% last year, mainly due to higher digital and international sales mix and increased US duties.
Cost Control: SG&A expenses fell 30% year-over-year to $22 million, while marketing investment increased 19% to support new products.
Guidance: Full-year revenue guidance was lowered to $161–166 million from $165–180 million, with Q4 revenue expected between $56–61 million (flat to up 9% YoY).
Liquidity: Company is exploring ways to enhance liquidity, possibly including raising capital, and continues to focus on cost reduction.
