Thursday November 30, 2023

Allbirds Sales and Losses On The Rise

Allbirds/Design: Alex Brooks
Copy Link
Link Copied
Link Copied

In Allbirds’ first public earnings report, the sustainable apparel and shoe manufacturer posted $62.7 million in third-quarter revenue, a 33% jump from the same period last year.

Co-founder and co-CEO Joey Zwillinger attributed some of the bump to new footwear and its activewear line, Perform Apparel, which was announced in August.

The company’s gross profit for the quarter reached $33.9 million, a significant increase compared to the $25 million it recorded last year.

  • U.S. revenue rose 42% year-over-year to $47.7 million.
  • International revenue increased 10% to $15 million.
  • Year-to-date, Allbirds’ net revenue has outshined last year’s by 29%, increasing from $140 million in the first nine months of 2020 to $180.3 million in 2021.

Despite the revenue growth, net losses widened to $13.8 million compared to a loss of $7 million last year, largely due to selling, general, and administrative expenses.

At the end of the third quarter, Allbirds had an inventory totaling $99 million, up 55% from last year. The brand has 35 brick-and-mortar stores.

Allbirds went public via IPO in November, bringing in proceeds of roughly $252.8 million minus offering costs and underwriting discounts. The company raised its full-year outlook from $270 million in revenue to $272 million.

Copy Link
Link Copied
Link Copied

What to Read

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Lane Kiffin

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.
podcast thumbnail mobile
Front Office Sports Today

What’s Next for Mark Cuban, Mavericks After $3.5B Sale?


Featured Today

LSU Lady Tigers head coach Kim Mulkey reacts against the Iowa Hawkeyes during the NCAA Womens Basketball Final Four National Championship at American Airlines Center.

Who Is The Highest-Paid Women’s College Basketball Coach?

LSU rewarded Kim Mulkey after winning a national title after her second year leading the program.
The Pac-12’s Collapse Will Have Ripple Effects on College Basketball.
November 6, 2023

The Pac-12’s Collapse Will Have Ripple Effects on College Basketball

The existing Pac-12 host a college basketball season for the last time.
Favre Presley
November 3, 2023

Brett Favre Controversy Casts Shadow Over Mississippi Gubernatorial Race

Candidate Brandon Presley has made the scandal one of his talking points.
Josh Harris
November 1, 2023

Commanders Owner Josh Harris Begins Remodeling Product on the Field

The team added more draft picks ahead of what could be an offseason of change.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers

Sports Apparel Giants Looking For Holiday Season Turnaround

Once-surging category enters the critical selling period mired in a slump.
November 20, 2023

Messi Set To Challenge For Another Off-Pitch Record

Messi's World Cup jerseys are headed for auction.
November 21, 2023

Upbeat Dick’s Earnings Counter Slowdown In Sports Apparel Market

Surprise earnings beat contrasts from other recent results in the category.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
October 12, 2023

Liverpool Facing Further Stadium Delays Amid Shifting Financial Future

Liverpool is expanding its stadium capacity to 61,000.
People take pictures on their phones of the New York Stock Exchange decorated with On branding.
October 6, 2023

Roger Federer-Backed On Outlines Ambitious Growth Plans

The Swiss company plans to double sales to $3.85 billion by 2026.
Los Angeles Angels designated hitter Shohei Ohtani hits against the Tampa Bay Rays during the sixth inning at Angel Stadium.
September 29, 2023

Shohei Ohtani Tops MLB Jersey Sales List For First Time

He's the first Japanese player to headline the list in MLB history
Inter Miami forward Lionel Messi following the victory against Los Angeles FC at BMO Stadium.
September 29, 2023

Lionel Messi’s Inter Miami Jersey Headlines 2023 MLS Sales

Messi had MLS’ top-selling jersey in his first season.