Allbirds Q4 2021 Earnings Report
Key Takeaways
Allbirds reported a strong finish to 2021 with Q4 revenue reaching a record $97.2 million, a 23% increase year-over-year and a 43% increase compared to 2019. The company's financial performance exceeded guidance targets, driven by strong global demand and successful execution during macro challenges. Full year 2021 net revenue rose 27% to $277.5 million compared to 2020.
Fourth quarter net revenue increased 23% to $97.2 million compared to the fourth quarter of 2020.
Full year 2021 net revenue rose 27% to $277.5 million compared to 2020.
Full year 2021 gross profit increased 30% to $146.7 million compared to 2020.
Fourth quarter 2021 GAAP net loss of $10.4 million, or $0.09 per basic and diluted share.
Allbirds
Allbirds
Allbirds Revenue by Geographic Location
Forward Guidance
Allbirds provided the following guidance targets for full year 2022: Net revenue of $355 million to $365 million, representing growth in the range of 28% to 32% versus fiscal 2021 and 62% to 66% versus fiscal 2020.
Positive Outlook
- Net revenue of $355 million to $365 million, representing growth in the range of 28% to 32% versus fiscal 2021 and 62% to 66% versus fiscal 2020.
- Gross profit of $187.5 million to $195 million, which at the midpoint of our net revenue and gross profit targets represents a gross margin percent of 53.1%, a 27 bps increase versus fiscal 2021.
- Carbon footprint reduction target of 6% for our top 10 products, aligned with our Allbirds Flight Plan to reduce by 25% by the end of 2025 and 95% by 2030.
- Net revenue of $60 million to $62 million, representing growth in the range of 21% to 25% versus the first quarter of fiscal 2021 and 42% to 47% versus the first quarter of fiscal 2020.
Challenges Ahead
- Adjusted EBITDA of negative $13 million to negative $9 million, including an estimated $8 million of public company costs.
- Adjusted EBITDA of negative $13 million to negative $11 million, including an estimated $2 million of public company costs.