Allbirds Q2 revenue $78.2M (+15% YoY); net loss $29.4M; cuts workforce 8%

Allbirds, Inc.

2022-Q2 EPS reported -$0.35 revenue$140,937,000

Net revenue $78.2M (+15% YoY); U.S. revenue $59.3M (+21%), offset by FX headwind of 265 bps.
GAAP net loss $29.4M ($0.20/share) vs loss $7.6M a year ago; adjusted net loss $18.1M.
Gross margin fell to 36.1% (adjusted 51.0%) on $11.6M inventory write-down of first-gen apparel.
Simplification Initiatives: 8% workforce reduction; expects $13-15M annual SG&A savings from 2023, one-time costs $18-24M.
Q3 revenue guidance $65-70M (4-12% growth); FY2022 revenue $305-315M (10-14% growth).

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