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Allbirds

Allbirds (BIRD) Q4 2024 Earnings

Reported Mar 11, 2025 at 4:08 PM ET · SEC Source

Q4 24 EPS

$-3.23

BEAT +6.50%

Est. $-3.45

Q4 24 Revenue

$55.9M

MISS 0.01%

Est. $55.9M

vs S&P Since Q4 24

-81.2%

TRAILING MARKET

BIRD -46.7% vs S&P +34.5%

Full Year 2024 Results

FY 24 EPS

$-11.87

MISS 0.24%

Est. $-11.84

FY 24 Revenue

$189.8M

BEAT +0.15%

Est. $189.5M

Market Reaction

Did BIRD Beat Earnings? Q4 2024 Results

Allbirds closed out 2024 with a deeply mixed quarter, delivering a narrow revenue beat while posting an EPS loss that overwhelmed analyst expectations by a staggering margin. The footwear brand reported Q4 revenue of $55.85 million, edging past the $… Read more Allbirds closed out 2024 with a deeply mixed quarter, delivering a narrow revenue beat while posting an EPS loss that overwhelmed analyst expectations by a staggering margin. The footwear brand reported Q4 revenue of $55.85 million, edging past the $55.57 million consensus by 0.51%, but its loss per share of $3.23 missed the $0.16 estimated loss by 1,926.35%, reflecting the heavy financial toll of a sweeping strategic overhaul. Revenue tumbled 22.4% year-over-year, as deliberate store closures and a shift to international distributor partnerships stripped volume from the top line. Gross margin contracted roughly 670 basis points to 31.3% in the quarter, pressured by inventory adjustments and higher per-unit freight costs, underscoring how disruptive the transformation remains in the near term. Looking ahead, management guided 2025 revenue of $175 million to $195 million, absorbing an estimated $18 million to $23 million headwind from the ongoing model transition, while targeting an adjusted EBITDA loss of $55 million to $65 million and projecting a return to top-line growth by Q4 2025.

Key Takeaways

  • • Lower unit sales in direct business drove revenue decline
  • • International distributor transitions reduced revenue but are expected to improve profitability
  • • Planned U.S. retail store closures (15 stores closed in 2024) impacted revenue
  • • SG&A reduced significantly through lower depreciation, occupancy, personnel, and stock-based compensation
  • • Impairment expense dropped to $1.8 million from $27.4 million a year ago
  • • Full year gross margin expanded 170 basis points to 42.7% from lower freight and duty costs
24/7 Wall St

BIRD YoY Financials

Q4 2024 vs Q4 2023, source: SEC Filings

24/7 Wall St

BIRD Revenue by Geography

With YoY comparisons, source: SEC Filings

Q4 24 Q3 25

“2024 was a year of progress both operationally and financially. We strengthened our operating model, driving gross margin expansion and cost reduction, while also bolstering Allbirds' international presence via new distributor agreements. Importantly, we reignited our product and marketing engines, which is expected to fuel improvement in trend in the second half of the year, including our return to top line growth in the fourth quarter. We are continuing to operate with financial discipline as we focus on further advancing our plans around product, marketing, and customer experience.”

— Joe Vernachio, Q4 2024 Earnings Press Release

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