NASDAQ$BIRD
Allbirds Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported strong financial results, exceeding adjusted revenue and adjusted EBITDA guidance targets, while delivering on sustainability goals.
Allbirds reported a 16% increase in net revenue to $72.7 million year-over-year for the third quarter of 2022. The company's U.S. physical retail channel sales grew 53% compared to 2021, with the opening of six new stores in the United States during the quarter. GAAP net loss was $25.2 million, or $0.17 per basic and diluted share, while adjusted net loss was $22.4 million, or $0.15 per basic and diluted share.
- Net revenue increased 16% to $72.7 million year over year.
- U.S. physical retail channel sales grew 53% compared to 2021.
- GAAP net loss of $25.2 million, or $0.17 per basic and diluted share.
- Launched 100% plastic-free, 100% vegan plant leather.
Headline financials
Revenue & EPS history
Allbirds · Revenue · Quarterly
$72.7M
Forward guidance
Allbirds is maintaining its guidance targets for full year 2022 which exclude any non-recurring revenue and costs associated with its simplification initiatives.
Tailwinds
- Adjusted net revenue of $305 million to $315 million, representing growth in the range of 10% to 14% versus fiscal 2021.
- Adjusted gross profit of $150.0 million to $157.5 million, which at the midpoint represents a gross margin of 49.6%.
- Adjusted EBITDA loss of $42.5 million to $37.5 million.
- Carbon footprint reduction target of 6% against our 2021 baseline for our top 10 products.
- Adjusted net revenue of $92 million to $102 million for Q4 2022.
Headwinds
- Includes an estimated FX impact of 275-350 bps, versus fiscal 2021.
- Includes an estimated $8 million of recurring public company costs.
- Adjusted net revenue represents growth in the range of (5)% to 5% versus the fourth quarter of fiscal 2021.
- Adjusted EBITDA loss of $8.5 million to $3.5 million for Q4 2022.
- Macro headwinds are expected to persist into year end and 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2022
-8.6%
Avg return
Earnings day
-8.6%
Avg return
5 days after
-0.2%
Avg return
30 days after
25%
6 / 24 earnings
Positive
+24.4%
Q4 2019
Best reaction
-51.2%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.8% | -13.7% | — | |
| Q4 2025 | +3.6% | +10.9% | +252.1% | |
| Q3 2025 | -7.2% | -28.2% | -39.7% | |
| Q2 2025 | -29.4% | -27.9% | -36.2% | |
| Q1 2025 | -2.4% | +23.8% | +58.0% | |
| Q4 2024 | -13.1% | -13.5% | -27.6% | |
| Q3 2024 | -23.2% | -29.7% | -30.9% | |
| Q2 2024 | +8.2% | +6.5% | -7.8% | |
| Q1 2024 | -10.4% | +2.9% | -19.4% | |
| Q4 2023 | -9.6% | -12.0% | -24.5% | |
| Q3 2023 | -23.9% | -29.3% | +11.9% | |
| Q2 2023 | +23.9% | +18.7% | -6.0% | |
| Q1 2023 | -6.4% | -4.9% | +2.6% | |
| Q4 2022 | -51.2% | -56.4% | -55.1% | |
| Q3 2022 | -17.2% | -6.6% | -5.6% | |
| Q2 2021 | -17.5% | -7.2% | -28.7% | |
| Q2 2022 | -13.1% | -0.2% | -23.0% | |
| Q1 2021 | -7.5% | +0.2% | +8.8% | |
| Q1 2022 | -19.1% | -13.8% | +4.7% | |
| Q4 2019 | +24.4% | +16.5% | +0.4% | |
| Q4 2021 | +0.0% | -8.1% | -29.6% | |
| Q4 2020 | +1.4% | -5.2% | +3.5% | |
| Q3 2020 | +1.4% | -5.2% | +3.5% | |
| Q3 2021 | -14.7% | -24.6% | -15.2% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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