Companies /Technology

Allbirds Inc Class A

NASDAQ: BIRD Software - Infrastructure
$2.77
â–² $0.39 (+16.39%) today
Markets closed · 4:59pm ET

Q1 2025 Earnings

Reported May 8, 2025, 4:08pm ET · SEC source
$-2.73
Beat +27.97%
EPS · est. $-3.79
$32.1M
Beat +7.11%
Revenue · est. $30.0M
+94.2%
Beating market
BIRD vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−3%0+3%May 8May 9report 4:08pm ETearnings−0.1%−3.5%
−3%0+3%May 8May 9earnings−0.1%−3.5%
BIRD −3.5%S&P 500 −0.1%
−3%0+3%May 8May 9report 4:08pm ETearnings+0.0%−3.5%
−3%0+3%May 8May 9earnings+0.0%−3.5%
BIRD −3.5%NASDAQ +0.0%
−10%0+10%+20%May 7May 16report 4:08pm ETearnings+4.8%+21.9%
−10%0+10%+20%May 7May 16earnings+4.8%+21.9%
BIRD +21.9%S&P 500 +4.8%
−10%0+10%+20%May 7May 16report 4:08pm ETearnings+6.3%+21.9%
−10%0+10%+20%May 7May 16earnings+6.3%+21.9%
BIRD +21.9%NASDAQ +6.3%
−2.96%
Day of report
+3.43%
Next session
+32.19%
One week
+100.76%
30 days

S&P 500 over the same 30 days: +6.56%.

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 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

“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.”

Allbirds CEO, on the earnings call

Forward Guidance & Outlook

Allbirds reiterated full-year 2025 guidance: net revenue of $175 million to $195 million (U.S. net revenue of $145 million to $160 million; international net revenue of $30 million to $35 million) and adjusted EBITDA loss of $65 million to $55 million. Full-year guidance includes negative revenue impacts of approximately $18 million to $23 million from international distributor transitions and U.S. store closures. For Q2 2025, the company guided net revenue of $36 million to $41 million (U.S. $26 million to $30 million; international $10 million to $11 million) and adjusted EBITDA loss of $19 million to $16 million. Management expects topline momentum to build in the second half of the year driven by fall 2025 new product launches and the brand marketing campaign.

BIRD YoY Financials

Revenue$32.1M
Gross Profit$14.4M
Operating Income$-22,830,000
Net Income$-21,875,000

BIRD Revenue by Geography

United States$25.6M
Rest of World$6.5M

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