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Allbirds (NASDAQ: BIRD) reveals preliminary Q1 2026 revenue, margin and adjusted EBITDA loss

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Allbirds, Inc. released unaudited preliminary results for the quarter ended March 31, 2026. The company expects net revenue of $22,321 (dollars in thousands), cost of revenue of $16,113, and gross profit of $6,208, implying a gross margin of 27.8%.

Operating expense is estimated at $27,112, leading to a preliminary net loss of $19,589 and adjusted EBITDA of $(16,067) (all dollars in thousands). As of March 31, 2026, Allbirds had cash and cash equivalents of $14.4 million. Management emphasizes these figures are preliminary, unaudited, and subject to change as quarter-end procedures are completed.

Positive

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Insights

Allbirds posts preliminary Q1 2026 revenue of $22.3M with continued operating and EBITDA losses.

Allbirds is guiding to preliminary Q1 2026 net revenue of $22,321 (dollars in thousands) with gross margin of 27.8%. Operating expenses of $27,112 exceed gross profit, resulting in a net loss of $19,589 and adjusted EBITDA of $(16,067).

Cash and cash equivalents were $14.4 million as of March 31, 2026, which frames liquidity against ongoing losses. Results are unaudited, subject to quarter-end adjustments, and not necessarily indicative of the full year, so investors will look to the finalized 10-Q for confirmation and additional detail.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net revenue $22,321 (thousands) Preliminary Q1 2026
Gross profit $6,208 (thousands) Preliminary Q1 2026
Gross margin 27.8% Preliminary Q1 2026
Operating expense $27,112 (thousands) Preliminary Q1 2026
Net loss $(19,589) (thousands) Preliminary Q1 2026
Adjusted EBITDA $(16,067) (thousands) Preliminary Q1 2026
Cash and cash equivalents $14.4 million As of March 31, 2026
Adjusted EBITDA financial
"The above table includes references to adjusted EBITDA which is a non-GAAP financial measure."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
non-GAAP financial measure financial
"The above table includes references to adjusted EBITDA which is a non-GAAP financial measure."
A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.
restructuring expense financial
"Restructuring expense | 1,280 | | | | | | |"
impairment expense financial
"Impairment expense | 1,016 | | | | | | |"
An impairment expense is a company’s recorded write-down when an asset—like equipment, a building, or intangible items such as goodwill—is found to be worth less than the value on the books. Think of it like recognizing that a used car you counted as an asset is now damaged and worth far less. It matters to investors because it lowers reported profits and asset values, can signal trouble with past investments, and often changes financial ratios that influence stock valuation.
forward-looking statements regulatory
"This press release contains "forward-looking statements" within the meaning of federal securities laws."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
income tax provision financial
"Income tax provision | 50 | | | | | | |"
An income tax provision is the amount a company records as its current estimate of income taxes for a reporting period, like setting aside money on the books for the tax bill it expects to owe. It matters to investors because it directly reduces reported profits and signals tax cash needs or future tax adjustments, so changes in the provision can affect earnings trends and the company’s short-term cash outlook, similar to how reserving money for a known bill changes your monthly budget.
Net revenue $22,321 (thousands)
Gross margin 27.8%
Net loss $(19,589) (thousands)
Adjusted EBITDA $(16,067) (thousands)
Cash and cash equivalents $14.4 million
Understanding 8-K Material Events →
0001653909false00016539092026-04-202026-04-20



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

___________________________________
FORM 8-K
___________________________________

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 20, 2026


___________________________________
Allbirds, Inc.
(Exact name of registrant as specified in its charter)
___________________________________


Delaware
001-40963
47-3999983
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
530 Washington St.
San Francisco, CA 94111
(Address of principal executive offices, including zip code)

(628) 225-4848
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)

___________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Class A common stock, $0.0001 par valueBIRDThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02     Results of Operations and Financial Condition.
On April 20, 2026, Allbirds, Inc. (the “Company”) reported unaudited preliminary financial results for the quarter ended March 31, 2026, furnished as Exhibit 99.1 to this Current Report on Form 8-K (the “Current Report”) and is incorporated by reference.
The information in this Item 2.02 of this Current Report (including Exhibit 99.1) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01     Financial Statements and Exhibits.

(d)    Exhibits
Exhibit No.Description
99.1
Preliminary Financial Results, dated April 20, 2026
104Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Allbirds, Inc.
Dated: April 20, 2026
By:/s/ Joe Vernachio
Joe Vernachio
Chief Executive Officer







PRELIMINARY FIRST QUARTER 2026 FINANCIAL RESULTS


Preliminary Financial Results for the First Quarter Ended March 31, 2026

While the financial closing and financial statement preparation process of Allbirds, Inc. (the “Company”, “our”, “us”, or “we”) is in its preliminary stages, the Company currently expects the following unaudited preliminary financial results for the first quarter ended March 31, 2026:

Preliminary March 31, 2026 Results (unaudited)
(Dollars in thousands)
Net revenue $$22,321 +/- $1.0M
Cost of revenue $$16,113 +/- $1.0M
Gross profit $$6,208 +/- $1.0M
Gross margin %27.8 %+/- 450bps
Operating expense $$27,112 +/- $2.0M
Net loss $$(19,589)+/- $3.0M
Adjusted EBITDA $$(16,067)+/- $2.0M

As of March 31, 2026 the Company had cash and cash equivalents of $14.4 million.

The Company currently expects that our final first quarter results will be within the ranges described above. The anticipated preliminary financial results referred to herein are based on management’s preliminary, unaudited analysis of the Company’s financial performance as of the date hereof. As of the date hereof, our results for the fiscal quarter ended March 31, 2026 have not been completed and the Company has not completed its quarter end procedures for such periods. These estimates are preliminary and inherently uncertain and subject to change as we finalize our results of operations for the fiscal quarter ended March 31, 2026. During the course of our quarter-end review process, the Company may identify items that would require it to make adjustments, which may be material, to the information presented above. The preliminary estimates presented above should not be viewed as a substitute for condensed consolidated interim financial statements prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). The above statements do not present all information necessary for an understanding of our results of operations for the fiscal quarter ending March 31, 2026. Accordingly, undue reliance should not be placed on these preliminary financial results. These preliminary financial results for the three months ended March 31, 2026 are not necessarily indicative of the results to be achieved for the full fiscal year or any future period.

The preliminary financial data included herein has been prepared by, and is the responsibility of, the Company’s management. Deloitte & Touche, LLP has not audited, reviewed, examined, compiled, nor applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, Deloitte & Touche LLP does not express an opinion or any other form of assurance with respect thereto.

Use of Non-GAAP Financial Measures

The above table includes references to adjusted EBITDA which is a non-GAAP financial measure. We believe that providing this non-GAAP financial measure, when reviewed in conjunction with GAAP financial measures, and not in isolation or as a substitute for analysis of our results of operations under GAAP, is useful to investors as it is a widely used measure of performance, and the adjustments we make to this non-GAAP financial measure may provide investors further insight into our profitability and additional perspectives in comparing our performance to other companies and in comparing our performance over time on a consistent basis. This non-
1

GAAP financial measure should not be considered as an alternative to net loss as calculated and presented in accordance with GAAP.

Adjusted EBITDA is defined as net loss before stock-based compensation expense, depreciation and amortization expense, impairment expense, restructuring expense (consisting of professional fees, personnel and related expenses, and other related charges resulting from our strategic initiatives), other income or expense (consisting of non-cash gains or losses on foreign currency, non-cash gains or losses on sales of property and equipment, and non-cash gains or losses on modifications or terminations of leases), interest income or expense, and income tax provision or benefit.

Other companies, including companies in our industry, may calculate this adjusted financial measure differently, which reduces its usefulness as a comparative measure. Because of these limitations, we consider, and investors should consider, these adjusted financial measures together with other operating and financial performance measures presented in accordance with GAAP.

The following tables present a reconciliation of adjusted EBITDA to its most comparable GAAP measure, net loss, for the periods indicated:

Three Months Ended March 31, 2026 (unaudited)
(Dollars in thousands)
Net loss$(19,589)+/- $3.0M
Add (deduct):
Stock-based compensation expense1,166 
Depreciation and amortization expense1,375 
Impairment expense1,016 
Restructuring expense1,280 
Other income(2,207)
Interest expense842 
Income tax provision50 
Adjusted EBITDA$(16,067)+/- $2.0M

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of federal securities laws. These statements are based on management's current beliefs, assumptions, and information, and include all statements other than historical facts—such as statements regarding future financial performance, profitability, cost savings, business strategy, and objectives of management. Forward-looking statements can often be identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "target," "will," or similar expressions.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including: unfavorable economic conditions; our ability to execute our growth strategy and achieve financial targets; our ability to obtain additional capital; impairment of long-lived assets; competitive pressures; our reliance on materials innovation and sustainable practices; our ability to attract and retain customers; the impact of climate change; our ability to anticipate consumer preferences; and cybersecurity risks.

A further discussion of these and other factors that could cause our financial results, performance, and achievements to differ materially from any results, performance, or achievements anticipated, expressed, or implied by these forward-looking statements is included in the filings we make with the SEC, including our Quarterly Report on Form 10-K for the year ended December 31, 2025, and other reports we may file with the SEC from time to time. These forward-looking statements speak only as of the date of this press release, and we
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undertake no obligation to update them except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in or expressed by, and you should not place undue reliance on our forward-looking statements.


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Source: View Original Filing on SEC EDGAR

FAQ

What preliminary Q1 2026 revenue did Allbirds (BIRD) report?

Allbirds expects preliminary net revenue of $22,321 (dollars in thousands) for Q1 2026. This figure is based on management’s unaudited analysis and remains subject to change as quarter-end closing procedures and financial statement preparation are completed.

What is Allbirds (BIRD) preliminary net loss for Q1 2026?

Allbirds projects a preliminary Q1 2026 net loss of $19,589 (dollars in thousands). This loss reflects operating expenses of $27,112 and gross profit of $6,208, and is subject to potential adjustments before final quarterly results are issued.

How did Allbirds (BIRD) gross margin look in Q1 2026 preliminary results?

Allbirds anticipates a preliminary gross margin of 27.8% for Q1 2026. This is derived from expected net revenue of $22,321 and gross profit of $6,208 (both in thousands), and may change once quarter-end review procedures are fully completed.

What is Allbirds (BIRD) preliminary adjusted EBITDA for Q1 2026?

Allbirds estimates preliminary adjusted EBITDA of $(16,067) (dollars in thousands) for Q1 2026. This non-GAAP measure starts from net loss and adjusts for items such as stock-based compensation, depreciation, impairment, restructuring, other income, interest, and income taxes.

How much cash did Allbirds (BIRD) have as of March 31, 2026?

As of March 31, 2026, Allbirds reported cash and cash equivalents of $14.4 million. This balance provides context for the company’s liquidity in light of its preliminary Q1 2026 net loss and negative adjusted EBITDA, and will be detailed further in future filings.

How does Allbirds (BIRD) define adjusted EBITDA in its Q1 2026 update?

Allbirds defines adjusted EBITDA as net loss before stock-based compensation, depreciation and amortization, impairment, restructuring, other income or expense, interest, and income tax. Management presents this non-GAAP measure to supplement GAAP results and aid comparability over time and across companies.

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