Welcome to our dedicated page for Allbirds news (Ticker: BIRD), a resource for investors and traders seeking the latest updates and insights on Allbirds stock.
Allbirds, Inc. (NASDAQ: BIRD) is a globally recognized lifestyle brand headquartered in San Francisco with roots in New Zealand. Founded in 2016, the company revolutionized the footwear industry with its iconic Wool Runner, a shoe praised for its unparalleled comfort and sustainable materials. Allbirds is committed to designing footwear and apparel that combine comfort, good design, and sustainability without compromise.
Allbirds' core mission is to use natural materials to produce the most sustainable footwear and apparel products possible. The company's innovative materials include Sugarcane-based SweetFoam™, eucalyptus fibers, and Merino wool. This approach not only provides premium comfort and durability but also minimizes environmental impact.
In recent years, Allbirds has expanded its product range and market presence significantly. The company has entered new international markets through strategic partnerships and distributor agreements, covering regions such as Australasia, Japan, the Gulf Countries, and Southeast Asia. Their shift from a direct-to-market model to a third-party distributor model is a key aspect of their Strategic Transformation Plan, aimed at improving capital efficiency and driving improved profitability.
Financially, Allbirds is making strides despite economic challenges. For example, in Q3 2023, the company demonstrated strong execution of its strategic plan designed to reignite growth and improve capital efficiency. In the first quarter of 2024, Allbirds reported a gross profit of $18.5 million and saw a gross margin improvement to 46.9%, thanks to lower freight and product costs per unit.
Additionally, Allbirds has taken significant steps in inventory management and operational transformation under its new CEO, Joe Vernachio. These measures include reducing inventory, transitioning to distributor models in international markets, and optimizing U.S. distribution channels.
Allbirds continues to innovate with new product launches such as the Wool Runner 2 and Tree Runner Go, which have been well-received by consumers. The company aims to maintain its position as a beloved brand by offering fresh, updated product offerings supported by effective storytelling.
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%.
Allbirds Inc. (BIRD), a global lifestyle brand known for its innovative, naturally derived footwear, has announced an exclusive distribution agreement with Belle Fashion Group for mainland China, Macau, and Taiwan. This strategic move, effective June 28th, marks a shift from Allbirds' direct go-to-market model to a third-party distributor approach in international markets. Belle Fashion Group, an industry giant with thousands of stores and a strong online presence, will oversee the distribution of Allbirds products across retail, online, and wholesale channels. The partnership aims to leverage Belle's local expertise to drive long-term, scalable growth in the region where Allbirds has been popular since its 2019 launch. This collaboration is expected to significantly enhance Allbirds' brand presence and reach in the Chinese market.
Allbirds (NASDAQ: BIRD), a global lifestyle brand focused on sustainable innovation, has announced its second quarter 2024 earnings conference call. The company will release its financial results on Wednesday, August 7, 2024, after market close. A conference call to discuss the results is scheduled for 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day.
Investors and interested parties can access a live webcast of the conference call on the Allbirds investor relations website. For those unable to attend live, a replay will be available online and archived for 12 months following the call.
FAQ
What is the current stock price of Allbirds (BIRD)?
What is the market cap of Allbirds (BIRD)?
What is the core mission of Allbirds?
Where is Allbirds headquartered?
What are some of Allbirds' key products?
What strategic changes has Allbirds implemented recently?
Who is the current CEO of Allbirds?
How has Allbirds performed financially recently?
What is SweetFoam™?
What recent international expansions has Allbirds undertaken?
What is the Wool Runner 2?
Where can I find more information about Allbirds?
