secwatch.observer — SEC 8-K summary
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Issuer:     Allbirds, Inc. (BIRD)
CIK:        0001653909
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001653909-23-000085
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Allbirds Q2 revenue $70.5M, down 9.8% YoY; net loss $28.9M; Q3 guidance issued
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- Net revenue $70.5M (down 9.8% YoY but up 3.8% vs Q2 2021); gross margin improved to 42.8% from 36.1%.
- Net loss $28.9M ($0.19 per share) vs $29.4M YoY; adjusted EBITDA loss $18.3M vs $20.8M YoY.
- Inventory $92.8M, down 24% YoY; generated $0.8M positive operating cash flow vs negative $24.1M a year ago.
- SG&A rose to $46.2M (65.6% of revenue) due to 16 new stores; marketing spend cut to $12.5M (17.8% of revenue).
- Restructuring charges of $1.0M tied to strategic transformation plan announced March 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1653909/000165390923000085/0001653909-23-000085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1653909/000165390923000085/bird-20230808.htm
  HTML page:      https://secwatch.observer/filing/0001653909-23-000085

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer