Allbirds, Inc. - BIRD STOCK NEWS

Allbirds is launching the M0.0NSHOT Zero, the world's first net zero carbon shoe, available from February 6, 2025. The edition of 500 pairs will be sold exclusively in select stores across New York, London, Dubai, Tokyo, and Seoul for $200 USD.

The innovative footwear combines minimalist design with regenerative farming practices, featuring carbon-negative materials, particularly regenerative wool sourced from New Zealand's Lake Hawea Station. The farm's sustainable practices include native plantings and protecting regenerating forests, resulting in more carbon sequestration than emissions.

The project, which began in 2022, represents a significant achievement compared to the industry average sneaker's carbon footprint of 14 kg CO₂e. Allbirds has also published an open-source toolkit detailing the innovations behind this milestone, including bio-based midsole foam and methane-capture bioplastic.

Allbirds (NASDAQ: BIRD) has announced its participation in the upcoming Morgan Stanley Global Consumer & Retail Conference in New York City on December 4, 2024. The sustainable lifestyle brand will be represented by CEO Joe Vernachio and CFO Annie Mitchell at this significant investor event. Allbirds, known for its innovative approach to sustainable materials and better product manufacturing, will engage with investors and industry professionals at this prestigious conference.

Allbirds (NASDAQ: BIRD) reported Q3 2024 financial results with net revenue decreasing 24.9% to $43.0 million. Gross margin improved by 90 basis points to 44.4%. The company posted a net loss of $21.2 million, or $2.68 per share, with adjusted EBITDA loss of $16.2 million. Inventory decreased 28.1% to $57.5 million. The company maintains $78.6 million in cash with no outstanding borrowings. Allbirds completed its transition to distributor models in China and Europe, and updated its full-year 2024 revenue guidance to $187-193 million, down from previous $190-210 million guidance.

Allbirds Inc. has announced new distribution agreements effective July 1st, 2025, expanding its international presence. CHRIS sports will become the exclusive distributor across six European countries including Austria, France, Germany, Italy, Liechtenstein, and Switzerland. Additionally, Uruguay-based Wystam will distribute Allbirds products in six Latin American countries including Argentina, Bolivia, Ecuador, Paraguay, Peru, and Uruguay. These partnerships bring the company's total global distribution agreements to 11, following successful transitions in five key geographies and the addition of four new regions.

Allbirds (NASDAQ: BIRD), a global lifestyle brand focused on sustainable innovation, has announced its upcoming third quarter 2024 earnings conference call. The company will release its financial results after market close on Wednesday, November 6, 2024. Following the release, Allbirds will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results.

Investors and interested parties can access a live webcast of the conference call on the Allbirds investor relations website. For those unable to attend the live event, a replay will be made available online and archived for 12 months on the same investor relations platform.

Allbirds (NASDAQ: BIRD) has announced a 1-for-20 reverse stock split of its Class A and Class B Common Stock, effective September 4, 2024. This move aims to bring the company into compliance with Nasdaq's minimum bid price requirement. Trading on a post-split basis will begin on September 5, 2024, under the same symbol (BIRD) but with a new CUSIP number. The split will automatically combine every 20 shares into 1 share, with cash payments issued for fractional shares. Stockholders' ownership percentages will remain unchanged, except for minor adjustments due to fractional share treatment. All outstanding equity awards will be proportionately adjusted. Computershare Inc. is acting as the exchange agent for this process.

Allbirds, Inc. (NASDAQ: BIRD) has announced the appointment of Ravi Thanawala, Chief Financial Officer of Papa John's International, to its Board of Directors, effective September 10, 2024. Thanawala brings extensive experience in retail, footwear, apparel, and restaurant industries. He previously held key positions at Nike, Inc. and ANN INC. This appointment comes as Mandy Fields, who joined the board in October 2020, is stepping down.

CEO Joe Vernachio expressed enthusiasm about Thanawala's addition, citing his seasoned consumer executive background. Thanawala, in turn, expressed excitement about joining Allbirds at this pivotal time. The company, known for its sustainable materials and innovative products, aims to leverage Thanawala's expertise to enhance operations, finance, and build long-term shareholder value.

Allbirds has launched the Tree Glider, a versatile, lightweight sneaker designed for active lifestyles. Priced at $135 USD, it features a one-piece knit upper made from TENCEL™ Lyocell fibers and recycled polyester, offering a sock-like feel and excellent breathability. The shoe's SuperLight midsole, Allbirds's lightest and lowest carbon foam, is approximately 70% bio-based.

Weighing just 7.6oz (W8), the Tree Glider has a remarkably low carbon footprint of 4.19 kg CO2e, less than one-third of a standard sneaker. Available in four colorways and various sizes, it can be purchased online and in stores from August 13, 2024. The design aims to blend aesthetic and athletic features, catering to Allbirds customers who, according to a 2023 survey, engage in active pursuits 4-5 days per week.

Allbirds (NASDAQ: BIRD) reported Q2 2024 financial results, showing a 26.8% decrease in net revenue to $51.6 million, within guidance. Gross margin improved 770 basis points to 50.5%. The company posted a net loss of $19.1 million, or $0.12 per share. Adjusted EBITDA loss was $13.7 million, above guidance. Inventory decreased 42% year-over-year to $53.7 million. Allbirds entered new distributor agreements for Benelux and Scandinavia, completed transitions in Japan and Australasia, and announced agreements for China. The company is focusing on product innovation, storytelling, and customer experience to drive growth in 2025. For full-year 2024, Allbirds reiterated revenue guidance of $190-$210 million and increased gross margin guidance to 43-46%.