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Jun 30, 2024
Allbirds Q2 2024 Earnings Report
Allbirds's Q2 2024 financial results were reported, showing progress within or above guidance ranges and continued operational and financial improvements.
Key Takeaways
Allbirds reported a decrease in net revenue by 26.8% to $51.6 million, but gross margin improved by 770 basis points to 50.5%. The company experienced a net loss of $19.1 million, with adjusted EBITDA loss of $13.7 million. They ended the quarter with $87.2 million in cash and cash equivalents and inventory decreased by 42% year over year.
Net revenue decreased 26.8% to $51.6 million compared to the previous year.
Gross margin improved significantly by 770 basis points to 50.5% year over year.
Net loss was $19.1 million, or $0.12 per share.
Inventory decreased by 42% compared to the previous year, reaching $53.7 million.
Revenue by Geographic Location
Forward Guidance
The Company is reiterating its full year 2024 guidance as follows: Net revenue of $190 million to $210 million. The Company is increasing its full year 2024 gross margin guidance and tightening its full year 2024 Adjusted EBITDA guidance range as follows: Gross margin of 43% to 46% compared to prior guidance of 42% to 45%. Adjusted EBITDA loss of $75 million to $63 million compared to prior guidance for a loss of $78 million to $63 million. Allbirds is providing the following guidance for the third quarter of 2024: Net revenue of $40 million to $33 million. Adjusted EBITDA loss of $19 million to $16 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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