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Allbirds

Allbirds (BIRD) Q1 2025 Earnings

Reported May 8, 2025 at 4:08 PM ET · SEC Source

Q1 25 EPS

$-2.73

BEAT +27.97%

Est. $-3.79

Q1 25 Revenue

$32.1M

BEAT +7.11%

Est. $30.0M

vs S&P Since Q1 25

-72.5%

TRAILING MARKET

BIRD -39.3% vs S&P +33.2%

Market Reaction

Did BIRD Beat Earnings? Q1 2025 Results

Allbirds posted a first-quarter loss that landed within its own guidance range, offering little comfort to investors watching the footwear brand shrink its way toward a leaner future. Net revenue fell 18.3% year-over-year to $32.11 million, a contrac… Read more Allbirds posted a first-quarter loss that landed within its own guidance range, offering little comfort to investors watching the footwear brand shrink its way toward a leaner future. Net revenue fell 18.3% year-over-year to $32.11 million, a contraction management attributed largely to planned U.S. Retail store closures, with the company trimming its store count to 28 from 57 a year ago, and the shift to a distributor model in select international markets. Loss per share came in at $2.73, while gross margin slipped 210 basis points to 44.8%, pressured by higher freight costs and a heavier mix of lower-margin distributor revenue. The net loss narrowed modestly to $21.88 million, and adjusted EBITDA loss improved to $18.64 million, but cash burn of $27.88 million in the quarter left just $39.06 million on hand. With a securities fraud investigation also circling the company, the stakes are rising for management's H2 bet on new product launches and a brand campaign fronted by Stanley Tucci. Full-year revenue guidance holds at $175 million to $195 million, with Q2 targeted at $36 million to $41 million.

Key Takeaways

  • • Planned retail store closures reduced U.S. footprint from 42 to 25 stores year-over-year
  • • International distributor transitions lowered international revenue
  • • Gift card breakage partially offset revenue and margin declines
  • • Higher international distributor mix, increased promotional activity, and higher freight costs pressured gross margin
  • • Significant SG&A reductions from lower personnel, depreciation, occupancy, and professional services
  • • Increased marketing investment for new brand campaign
24/7 Wall St

BIRD YoY Financials

Q1 2025 vs Q1 2024, source: SEC Filings

24/7 Wall St

BIRD Revenue by Geography

With YoY comparisons, source: SEC Filings

Q4 24 Q3 25

“We're pleased to report another quarter of progress against our plans, delivering financial results within or above our expectations. The foundational work we have done over the past year is converging with our key focus areas of Product, Marketing and Customer Experience and positioning us to generate expected topline momentum in the second half of the year.”

— Joe Vernachio, Q1 2025 Earnings Press Release

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