Allbirds Q2 revenue down 26.8% to $51.6M; gross margin improves 770 bps to 50.5%

Allbirds, Inc.

2024-Q2 EPS reported -$0.30 revenue$90,909,000

Net loss of $19.1M ($0.12/share) vs $28.9M loss a year ago; adjusted EBITDA loss of $13.7M.
Inventory down 42% YoY to $53.7M; cash $87.2M with no revolver borrowings.
Entered distributor agreements for Benelux, Scandinavia; completed transitions in Japan, Australasia; post-quarter China.
CEO expects return to top-line growth in 2025 based on product momentum.

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