Allbirds, Inc. Stock Price, News & Analysis

Allbirds, Inc. (Nasdaq: BIRD) announced the appointment of Ann Freeman to its board of directors, effective August 16, 2022. Freeman, a seasoned leader with over 26 years at Nike, previously served as Vice President and General Manager of North America, overseeing significant business operations. Co-CEO Joey Zwillinger expressed enthusiasm for Freeman's expertise, which is expected to enhance Allbirds' growth and consumer engagement. Freeman succeeds Nancy Green, who played an essential role during the company’s IPO.

Allbirds, Inc. (BIRD) reported a 15% increase in Q2 2022 net revenue to $78.2 million, supported by a strong 21% growth in the U.S. market. However, gross profit fell by 26.1% to $28.2 million, leading to a GAAP net loss of $29.4 million. Adjusted EBITDA loss of $9.2 million was within guidance. The company launched its new performance shoe, the Tree Flyer, and plans to implement cost-saving Simplification Initiatives expected to save $13-$15 million annually starting in 2023. Full-year guidance remains cautious due to external market pressures.

Allbirds, a global lifestyle brand focused on sustainability, will release its second quarter 2022 financial results on August 8, 2022, after market close. A conference call is scheduled for 2:00 PM PT (5:00 PM ET) on the same day to discuss the results. Investors can access a live webcast via the Allbirds investor relations website, with a replay available for 12 months. Additionally, Allbirds management will participate in the Piper Sandler Growth Frontiers Conference on September 14, 2022, in Nashville, TN, which will also be webcasted.

Allbirds, Inc. (NASDAQ: BIRD) has been added to the Russell 3000® Index, effective after the U.S. market opens on June 27, 2022. This decision follows the annual reconstitution process based on market capitalization as of May 6, 2022. Being part of this index signifies a key achievement, enhancing Allbirds' visibility among investors and aligning with its goals of promoting sustainable practices. The inclusion reflects the company's commitment to climate-conscious innovation since its IPO in November 2021, potentially broadening its investment appeal.

Allbirds, Inc. (BIRD) reported Q1 2022 net revenue of $62.8 million, a 26% increase from the previous year. Gross profit also rose 26% to $32.6 million, but the company posted a GAAP net loss of $21.9 million, up from $13.5 million in Q1 2021. The U.S. market saw a 35% revenue growth, while international revenue grew only 3%, hindered by geopolitical tensions and COVID-19 restrictions. For 2022, the company expects net revenue between $335 million and $345 million, reflecting a growth of 21% to 24%. Adjusted EBITDA is projected between -$25 million and -$21 million.

Allbirds, a global lifestyle brand focused on sustainable footwear and apparel, will release its Q1 2022 financial results after market close on May 10, 2022. The company will hold a conference call to discuss these results at 2:00 p.m. PT (5:00 p.m. ET) the same day. Investors can access the live webcast on the Allbirds investor relations website, with a replay available for 12 months. Allbirds continues to innovate with materials like New Zealand merino wool, eucalyptus tree fiber, and sugarcane-based EVA foam.

Allbirds, Inc. (NASDAQ: BIRD) reported a strong financial performance for 2021, with net revenue of $277.5 million, a 27% increase from 2020. The fourth quarter alone saw a record revenue of $97.2 million, up 23% year-over-year.

For 2022, the company raised its revenue outlook to $355-$365 million, indicating a growth range of 28% to 32%. Gross profit for 2021 rose to $146.7 million, and gross margin improved to 52.9%. However, the company also experienced a GAAP net loss of $45.4 million for the year. Allbirds aims to reduce its carbon footprint while expanding its retail presence.

Allbirds, Inc. (NASDAQ: BIRD) has launched Allbirds ReRun, a resale platform in collaboration with Trove, focusing on sustainability. Initially available in Los Angeles, Chicago, and New York City, customers can trade in used shoes for $20 store credit. The program aligns with Allbirds’ Flight Plan, aiming to halve its carbon footprint by 2025 and reach near-zero emissions by 2030. ReRun will also sell slightly imperfect shoes starting at $59. As a certified B Corp, Allbirds continues to innovate in eco-friendly materials and aims to extend product lifespans through this initiative.

Allbirds, a global lifestyle brand, will release its fourth quarter and full year 2021 financial results after market close on February 23, 2022. A conference call is scheduled for 2:00 p.m. PT to discuss these results, with a live webcast available on its investor relations website. Additionally, Allbirds' management will participate in the BofA Securities Consumer & Retail Technology Conference on March 8, 2022. Following its recent IPO, lock-up agreements for directors and officers will expire on February 25, 2022.