Allbirds Q1 net revenue down 27.6% to $39.3M; net loss $27.3M

Allbirds, Inc.

2024-Q1 EPS reported -$0.18 revenue$39,327,000

Net revenue $39.3M, down 27.6% YoY; gross margin improved 680 bps to 46.9%.
Net loss $27.3M ($0.18 per share); adjusted EBITDA loss $20.9M, above guidance.
Inventory $60.6M, down 45% YoY; cash $102.1M with no revolver borrowings.
Full-year 2024 guidance reiterated: revenue $190M-$210M, gross margin 42%-45%.
Company signed distributor agreements for Gulf Countries and Southeast Asia; closed 3 U.S. stores.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Allbirds, Inc. reported first quarter ended March 31, 2024 results: revenue $39.3 million, net income $27.3 million, EPS $0.18 per basic and diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $39.3 million
Net income: $27.3 million
EPS: $0.18 per basic and diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

products in a better way, today reported financial results for the first quarter ended March 31, 2024. First Quarter 2024 Overview • First quarter net revenue decreased 27.6% to $39.3 million versus a year ago, within the Company’s guidance range. • First quarter gross margin improved 680 basis points to 46.9% versus a year ago. • First quarter net loss of $27.3

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Source: SEC EDGAR

accession 0001628280-24-021669

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