secwatch.observer — SEC 8-K summary
======================================

Issuer:     Allbirds, Inc. (BIRD)
CIK:        0001653909
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001653909-24-000012
Event type: leadership
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1653909/000165390924000012/0001653909-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1653909/000165390924000012/bird-20240307.htm
  HTML page:      https://secwatch.observer/filing/0001653909-24-000012

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