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Mar 31, 2024
Allbirds Q1 2024 Earnings Report
Allbirds' Q1 2024 financial performance was reported, showing a decrease in net revenue but an improvement in gross margin and a reduced net loss compared to the previous year, as the company progresses with its strategic transformation plan.
Key Takeaways
Allbirds reported a decrease in net revenue to $39.3 million, but gross margin improved to 46.9%. The company's net loss decreased to $27.3 million. They are reiterating full year 2024 guidance.
Net revenue decreased by 27.6% to $39.3 million compared to the previous year.
Gross margin improved by 680 basis points to 46.9% year-over-year.
Net loss was $27.3 million, an improvement compared to $35.2 million in the first quarter of 2023.
The company closed three U.S. retail stores and remains on track with its previously communicated plan to close 10-15 U.S. locations in 2024.
Revenue by Geographic Location
Forward Guidance
The Company is reiterating its full year 2024 guidance and providing guidance for the second quarter of 2024.
Positive Outlook
- Net revenue of $190 million to $210 million
- U.S. net revenue of $150 million to $165 million
- International net revenue of $40 million to $45 million
- Gross margin of 42% to 45%
- Adjusted EBITDA loss of $78 million to $63 million.
Challenges Ahead
- Net revenue of $48 million to $53 million
- U.S. net revenue of $35 million to $37 million
- International net revenue of $13 million to $16 million
- Adjusted EBITDA loss of $20 million to $17 million.
- U.S. net revenue includes a $7 million to $9 million impact resulting from anticipated store closures
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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