Companies /Technology

Allbirds Inc Class A

NASDAQ: BIRD Software - Infrastructure
$2.77
â–² $0.39 (+16.39%) today
Markets closed · 5:02pm ET

Q4 2024 Earnings

Reported Mar 11, 2025, 4:08pm ET · SEC source
$-3.23
Beat +6.50%
EPS · est. $-3.45
$55.9M
Miss −0.01%
Revenue · est. $55.9M
−12.2%
Trailing market
BIRD vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−12%−6%0+6%Mar 11Mar 12report 4:08pm ETearnings+0.5%−12.7%
−12%−6%0+6%Mar 11Mar 12earnings+0.5%−12.7%
BIRD −12.7%S&P 500 +0.5%
−12%−6%0+6%Mar 11Mar 12report 4:08pm ETearnings+1.1%−12.7%
−12%−6%0+6%Mar 11Mar 12earnings+1.1%−12.7%
BIRD −12.7%NASDAQ +1.1%
−21%−14%−7%0Mar 10Mar 19report 4:08pm ETearnings+1.9%−15.6%
−21%−14%−7%0Mar 10Mar 19earnings+1.9%−15.6%
BIRD −15.6%S&P 500 +1.9%
−21%−14%−7%0Mar 10Mar 19report 4:08pm ETearnings+1.9%−15.6%
−21%−14%−7%0Mar 10Mar 19earnings+1.9%−15.6%
BIRD −15.6%NASDAQ +1.9%
−13.15%
Day of report
−4.67%
Next session
+0.56%
One week
−16.64%
30 days

S&P 500 over the same 30 days: −4.46%.

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 $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

“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.”

Allbirds CEO, on the earnings call

Forward Guidance & Outlook

For full year 2025, Allbirds guides net revenue of $175 million to $195 million, including U.S. net revenue of $145 million to $160 million and international net revenue of $30 million to $35 million. Adjusted EBITDA loss is expected between $65 million and $55 million. The outlook reflects approximately $18 million to $23 million of negative revenue impact from the transition to a distributor model in international markets and the closure of 20 U.S. stores (encompassing 2024 and year-to-date 2025). For Q1 2025, net revenue is guided at $28 million to $33 million (U.S. $22-$25 million, international $6-$8 million) with adjusted EBITDA loss of $28 million to $25 million. The company expects a return to top-line growth in Q4 2025.

BIRD YoY Financials

Q4 2024 vs Q4 2023 · SEC filings Q4 2023 Q4 2024
$0$30.0M$60.0M$72.0M$55.9MRevenue$27.4M$17.5MGross Profit$-16,596,046$-25,772,000Operating Income$-16,589,999$-25,678,000Net Income
$0$30.0M$60.0MRevenueGross ProfitOperating IncomeNet Income

BIRD Revenue by Geography

United States$46.0M
Rest of World$9.9M

Figures from SEC filings and company reports. Not investment advice.