---
schema_version: "secwatch.filing_event.v1"
accession: "0001653909-24-000012"
form_type: "8-K"
ticker: "BIRD"
cik: "0001653909"
company_name: "Allbirds, Inc."
filed_at: "2024-03-12T23:59:59+00:00"
generated_at: "2026-06-04T23:03:18.343772+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Allbirds appoints new CEO as Q4 net revenue falls 14.5%; net loss $56.8M

## Summary
- CEO Joey Zwillinger steps down March 15; COO Joe Vernachio appointed CEO and to Board.
- Q4 net revenue $72.0M (-14.5% YoY); net loss $56.8M ($0.37 diluted EPS).
- Full year 2023 net revenue $254.1M (-14.7% YoY); net loss $152.5M ($1.01 diluted EPS).
- Inventory down 51% to $57.8M; cash & credit facility $180M liquidity.
- Adjusted EBITDA loss $78.4M for FY2023; margin declined to -30.9%.

## SEC filing metadata
- accession: 0001653909-24-000012
- form_type: 8-K
- ticker: BIRD
- cik: 0001653909
- company_name: Allbirds, Inc.
- filed_at: 2024-03-12T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1653909/000165390924000012/0001653909-24-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1653909/000165390924000012/bird-20240307.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001653909-24-000012
- JSON: https://secwatch.observer/filing/0001653909-24-000012.json
- Plain text: https://secwatch.observer/filing/0001653909-24-000012.txt

## Key facts
- Earnings Releases
  Allbirds, Inc. reported full year ended December 31, 2023 results: revenue $254.1 million, net income $152.5 million loss, EPS $1.01 per basic and diluted share.
  - Period: full year ended December 31, 2023
  - Revenue: $254.1 million
  - Net income: $152.5 million loss
  - EPS: $1.01 per basic and diluted share
  - Result: reported results
  source text: Full-year 2023 net revenue decreased 14.7% to $254.1 million compared to $297.8 million in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1653909/000165390924000012/0001653909-24-000012-index.htm
- Earnings Releases
  Allbirds, Inc. reported fourth quarter ended December 31, 2023 results: revenue $72.0 million, net income $56.8 million loss, EPS $0.37 per basic and diluted share.
  - Period: fourth quarter ended December 31, 2023
  - Revenue: $72.0 million
  - Net income: $56.8 million loss
  - EPS: $0.37 per basic and diluted share
  - Result: reported results
  source text: Fourth quarter net revenue decreased 14.5% to $72.0 million versus a year ago; full year net revenue decreased 14.7% to $254.1 million versus a year ago. • Fourth quarter net loss of $56.8 million, or $0.37 per basic and diluted share; full year net loss of $152.5 million, or $1.01 per basic and diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1653909/000165390924000012/0001653909-24-000012-index.htm
- Executive change
  Joe Vernachio was appointed as Class II Director at Allbirds, Inc..
  - Action: appointed
  - Role: Class II Director
  source text: Mr. Vernachio was also appointed to the Board, effective March 15, 2024, and will serve as a Class II director
  evidence_url: https://www.sec.gov/Archives/edgar/data/1653909/000165390924000012/0001653909-24-000012-index.htm
- Executive change
  Joseph Zwillinger changed role as President, Chief Executive Officer and Secretary at Allbirds, Inc..
  - Action: transitioned from
  - Role: President, Chief Executive Officer and Secretary
  source text: Joseph Zwillinger, the President, Chief Executive Officer and Secretary of the Company informed the Company’s Board of Directors (the “Board”) of his intention to transition from his role as President, Chief Executive Officer and Secretary, effective March 15, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1653909/000165390924000012/0001653909-24-000012-index.htm
- Executive change
  Joe Vernachio was appointed as President, Chief Executive Officer and Secretary at Allbirds, Inc..
  - Action: appointed
  - Role: President, Chief Executive Officer and Secretary
  source text: the Board appointed Joe Vernachio, the Company’s current Chief Operating Officer, to serve as President, Chief Executive Officer and Secretary of the Company, effective March 15, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1653909/000165390924000012/0001653909-24-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.