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BIRD

Allbirds, Inc.

BIRD

Allbirds, Inc. • NASDAQ
$5.06 ▲ 1.20% (+0.06)
Market Cap $41.56 M
52w High $12.85
52w Low $3.93
Dividend Yield 0%
P/E -0.49
Volume 16.08K
Outstanding Shares 8.21M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $32.989M ▼ $34.126M ▲ $-20.324M ▼ -61.608% ▼ $-2.49 ▼ $-17.966M ▼
Q2-2025 $39.685M ▲ $32.681M ▼ $-15.501M ▲ -39.06% ▲ $-1.92 ▲ $-14.628M ▲
Q1-2025 $32.114M ▼ $37.23M ▼ $-21.875M ▲ -68.117% ▼ $-2.73 ▲ $-20.927M ▲
Q4-2024 $55.852M ▲ $43.249M ▲ $-25.678M ▼ -45.975% ▲ $-3.23 ▼ $-21.789M ▼
Q3-2024 $42.996M $40.857M $-21.177M -49.253% $-2.68 $-18.855M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $23.704M ▼ $119.914M ▼ $67.982M ▲ $51.932M ▼
Q2-2025 $33.144M ▼ $136.818M ▼ $65.457M ▲ $71.361M ▼
Q1-2025 $39.056M ▼ $147.259M ▼ $64.437M ▼ $82.822M ▼
Q4-2024 $66.732M ▼ $188.879M ▼ $87.194M ▼ $101.685M ▼
Q3-2024 $78.627M $221.914M $94.569M $127.345M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-20.324M ▼ $-15.234M ▼ $-540K ▲ $7.114M ▲ $-9.437M ▼ $-16.138M ▼
Q2-2025 $-15.501M ▲ $-8.692M ▲ $-680K ▼ $2.149M ▲ $-5.909M ▲ $-9.42M ▲
Q1-2025 $-21.875M ▲ $-27.883M ▼ $-214K ▼ $3K ▼ $-27.674M ▼ $-28.526M ▼
Q4-2024 $-25.678M ▼ $-10.841M ▲ $586K ▼ $104K ▲ $-11.891M ▼ $-11.853M ▲
Q3-2024 $-21.177M $-11.228M $1.437M $0 $-8.594M $-11.884M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $30.00M ▲$40.00M ▲$30.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Allbirds is still very much in “turnaround” mode on the income statement. Sales grew after the IPO but have since slipped back, suggesting early momentum has been hard to sustain. The company does generate positive gross profit, so the products themselves carry a reasonable markup, but overall costs are too high relative to revenue. As a result, operating losses and net losses have been persistent for several years, and earnings per share remain deeply negative. There are some signs of cost-cutting after a particularly weak year, but there is not yet a clear pattern of consistent improvement toward profitability.

Balance Sheet

Balance Sheet The balance sheet shows a company that built up its asset and cash base around the IPO and has been gradually drawing it down since. Cash levels have declined meaningfully as losses mounted, even though spending on long‑term assets has stayed modest. Equity remains positive, but it has been steadily eroded by ongoing losses. Debt has been introduced and then slightly reduced, so the business is not heavily leveraged, but the overall financial cushion is thinner than it was a few years ago, leaving less room for prolonged weak performance without additional capital or sharper cost discipline.

Cash Flow

Cash Flow Cash flow from operations has been negative every year, which means the core business is still consuming cash rather than generating it. Free cash flow has also stayed in negative territory, although investment in property and equipment is relatively light. This pattern points to a business where the main drain is day‑to‑day operating expenses, not big expansion projects. While there have been short periods of improvement, the underlying story is unchanged: Allbirds needs either stronger, more stable revenue or a leaner cost base to move toward self‑funding operations.

Competitive Edge

Competitive Edge Allbirds holds a distinctive niche in the crowded footwear and apparel market. Its brand is tightly associated with sustainability, comfort, and minimalist design, which resonates with environmentally conscious consumers and has created a loyal following. The direct‑to‑consumer model gives the company control over customer relationships and brand experience, and its proprietary sustainable materials and patents are real differentiators. However, it competes against global footwear giants with far greater scale and marketing budgets, and many rivals now promote their own “green” product lines, which can dilute Allbirds’ uniqueness if it does not keep refreshing its value proposition and brand storytelling.

Innovation and R&D

Innovation and R&D Innovation is one of Allbirds’ biggest strengths. It has developed several noteworthy materials—like sugarcane‑based foam, plant‑based leather, wool and eucalyptus uppers, and crab‑shell‑derived fabrics—that reinforce its sustainability story and set its products apart. The company also leads on transparency, labeling product carbon footprints and even open‑sourcing its carbon tools, which enhances its credibility. The main challenge is translating this R&D and brand goodwill into a business that scales profitably. Innovation spending needs to stay focused on core products and clear customer needs, rather than spreading too thin across many experiments that do not pay off.

Summary

Allbirds combines a differentiated, sustainability‑led brand and meaningful material science innovation with a financial profile that still reflects early‑stage growing pains. The company has struggled to convert its strong identity and loyal niche audience into sustainable revenue growth and profitability. Losses have persisted, cash has trended down, and the balance sheet, while not overburdened by debt, is clearly less robust than shortly after the IPO. Management appears to be refocusing on core products and rationalizing the assortment, which could help tighten execution. Going forward, the key questions are whether Allbirds can stabilize and then grow sales in its core franchise, improve cost efficiency, and leverage its innovations and partnerships without overextending its limited financial resources.

NEWS

October 31, 2025 · 4:05 PM UTC

Allbirds Appoints Lily Yan Hughes as Independent Director

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October 16, 2025 · 4:05 PM UTC

Allbirds Announces Third Quarter 2025 Earnings Conference Call

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