Allbirds Flies Past $1B in Lifetime Revenue

Allbirds reported $78.2 million in second-quarter revenue — a 15% increase from the same period last year and a 55% increase from 2020.

The jump was primarily attributed to an increase in the number of orders and average order value. Allbirds surpassed $1 billion in lifetime revenue during the quarter.

In the three months ending June 30, 2022, Allbirds launched its third performance running shoe, the Tree Flyer. The company says performance footwear sales now make up 24% of net revenue.

The sustainable lifestyle brand’s gross profit fell 26.1% year-over-year to $28.2 million, partially due to higher distribution center and logistic costs, a lower mix of international sales, and “unfavorable foreign exchange rates.”

While international revenue was flat at $18.9 million, Allbirds reported significant growth in the U.S., including the opening of five new stores during the quarter.

• Net revenue in the U.S. jumped 21% year-over-year to $59.3 million.
• U.S. physical retail channel sales ballooned nearly 120% year-over-year.

Allbirds also introduced SwiftFoam, a new material platform featuring an estimated 20% lower carbon footprint than petroleum-based synthetic alternatives.

Allbirds in Flight

The company expects full-year revenue to reach between $305 million and $315 million, representing growth between 10% to 14%.

On Aug. 2, Allbirds announced it would lay off 23 of its employees after its stock dropped 70%. As of December 2021, it employed 710 people.