Allbirds' net loss narrows but revenue drops
Allbirds store Credits: Allbirds San Francisco based lifestyle company Allbirds reported a 22.4 percent revenue decrease to 55.9 million dollars in the fourth quarter, within its guidance range. Net loss narrowed to 25.7 million dollars or 3.23 dollars per basic and diluted share and adjusted EBITDA loss reached 19.2 million dollars. For the full fiscal year 2024, Allbirds saw net revenues fall 25.3 percent to 189.8 million dollars, while net loss improved to 93.3 million dollars. Retail traffic firm Placer.ai’s data revealed a correlation between the closure of nearly a third of US stores (from 45 to 31) and reduced overall visits. However, visits per remaining location increased, suggesting successful consolidation. “2024 was a year of progress both operationally and financially,” said Joe Vernachio, chief executive officer. “We strengthened our operating model, driving gross margin expansion and cost reduction, while also bolstering Allbirds’ international presence via new distributor agreements.” Allbirds expects the closure of 20 stores in the US encompassing the years 2024 and 2025 to impact its guidance for the year ahead. The company forecasts 2025 net revenue in the range of 175 million dollars to 195 million dollars and adjusted EBITDA loss to be between 65 million dollars to 55 million dollars. For its first quarter of 2025, the company anticipates net revenue to range between 28 million dollars to 33 million dollars and adjusted EBITDA loss is expected to be between 28 million dollars to 25 million dollars.
San Francisco based lifestyle company Allbirds reported a 22.4 percent revenue decrease to 55.9 million dollars in the fourth quarter, within its guidance range. Net loss narrowed to 25.7 million dollars or 3.23 dollars per basic and diluted share and adjusted EBITDA loss reached 19.2 million dollars.
For the full fiscal year 2024, Allbirds saw net revenues fall 25.3 percent to 189.8 million dollars, while net loss improved to 93.3 million dollars.
Retail traffic firm Placer.ai’s data revealed a correlation between the closure of nearly a third of US stores (from 45 to 31) and reduced overall visits. However, visits per remaining location increased, suggesting successful consolidation.
“2024 was a year of progress both operationally and financially,” said Joe Vernachio, chief executive officer. “We strengthened our operating model, driving gross margin expansion and cost reduction, while also bolstering Allbirds’ international presence via new distributor agreements.”
Allbirds expects the closure of 20 stores in the US encompassing the years 2024 and 2025 to impact its guidance for the year ahead. The company forecasts 2025 net revenue in the range of 175 million dollars to 195 million dollars and adjusted EBITDA loss to be between 65 million dollars to 55 million dollars.
For its first quarter of 2025, the company anticipates net revenue to range between 28 million dollars to 33 million dollars and adjusted EBITDA loss is expected to be between 28 million dollars to 25 million dollars.
