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Sep 30, 2023
Allbirds Q3 2023 Earnings Report
Achieved Q3 2023 guidance targets and delivered continued progress under the company’s strategic transformation plan.
Key Takeaways
Allbirds reported a decrease in net revenue by 21.2% to $57.2 million compared to the previous year. The company's net loss was $31.6 million, with adjusted EBITDA loss of $19.0 million. They have made strides in inventory reduction and cost control as part of their Strategic Transformation Plan.
Net revenue decreased 21.2% to $57.2 million versus a year ago and decreased 8.7% compared to Q3 2021.
Net loss of $31.6 million, or $0.21 per basic and diluted share.
Adjusted EBITDA loss of $19.0 million.
Ending inventory of $79.9 million, representing a decrease of 37% versus a year ago.
Revenue by Geographic Location
Forward Guidance
Allbirds expects net revenue of $66 million to $72 million, a decrease of 22% to 15% versus the fourth quarter of fiscal 2022. Adjusted EBITDA loss of $(26) million to $(23) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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