BIRD Nasdaq· Allbirds Inc
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BIRD Nasdaq· Allbirds Inc
Earnings report Q3 2023

Allbirds, Inc. Reports Decline in Revenue for the Latest Quarter

Segments of revenue

Allbirds, Inc. reported a decline in net revenue for the latest quarter. In the three months ended September 30, 2023, the company generated $57.2 million in net revenue, compared to $72.7 million in the same period last year. For the nine months ended September 30, 2023, net revenue amounted to $182.1 million, down from $213.6 million in the prior year.


Despite the decline in revenue, Allbirds, Inc. continues to demonstrate strength in its gross profit margin. The company achieved a gross profit of $24.9 million in the latest quarter, resulting in a gross profit margin of approximately 43.5%. This indicates that the company is effectively managing its cost of revenue and maintaining a healthy level of profitability.


The decline in revenue for Allbirds, Inc. raises concerns about the company's ability to drive sales growth. The decrease in net revenue can be attributed to various factors, including increased competition in the market and potential challenges in expanding its customer base. The company's marketing expenses also remained relatively high, which may have impacted its overall financial performance.


It is worth noting that Allbirds, Inc. reported a loss from operations of $30.1 million for the latest quarter. This represents an increase in operating loss compared to the same period last year. The company also incurred a loss from sales of businesses, further impacting its financial results. However, it is important to consider that these losses may be part of the company's strategic initiatives or restructuring efforts.


Allbirds, Inc. faced a decline in revenue for the latest quarter, which raises concerns about its ability to drive sales growth. Despite this, the company demonstrated strength in its gross profit margin, indicating effective cost management. However, the high operating expenses and losses from operations and sales of businesses present challenges for the company. It will be crucial for Allbirds, Inc. to address these challenges and implement strategies to boost revenue and improve its overall financial performance.

Source documents

Form 10-Q  filed on Nov 08, 2023
7 pages scanned

Reference data

Company financials Q3 revenue 57.2M
Analyst estimates Q3 EPS missed by -13.92%
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