NASDAQ$BIRD
Allbirds Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported fourth quarter and full year 2023 financial results, achieving Q4 financial guidance targets and appointing Joe Vernachio as CEO.
Allbirds reported a decrease in net revenue for both the fourth quarter and the full year 2023, alongside a net loss. However, the company significantly reduced operating cash use and finalized agreements with Australasia and Japan distributors. They are entering 2024 with a strong cash position and healthy inventory.
- Fourth quarter net revenue decreased by 14.5% to $72.0 million compared to the previous year.
- The company reported a fourth quarter net loss of $56.8 million, or $0.37 per basic and diluted share.
- Year-end inventory was $57.8 million, representing a 51% decrease compared to the previous year.
- Operating cash use significantly reduced to $4.7 million in the fourth quarter, compared to $8.4 million a year ago.
Headline financials
Revenue & EPS history
Allbirds · Revenue · Quarterly
$72M
Forward guidance
Allbirds provided financial guidance targets for 2024, reflecting the impact of transitioning to a distributor model in international markets and the anticipated closure of 10-15 U.S. retail store locations.
Tailwinds
- U.S. net revenue of $150 million to $165 million is expected.
- Gross margin is projected to be between 42% and 45%.
- Company expects to close 10-15 U.S. retail store locations.
- The company is providing net revenue guidance for its U.S. and international geographical markets in 2024.
- Adjusted EBITDA loss of $78 million to $63 million
Headwinds
- Net revenue is expected to be $190 million to $210 million.
- International net revenue of $40 million to $45 million is expected, including $25 million to $28 million of impact resulting from anticipated transitions to a distributor model in certain international markets
- The company’s outlook for the full year reflects approximately $32-37 million of negative impact to revenue associated with the transition from a direct selling model to a distributor model in international markets
- The company’s outlook for the full year reflects negative impact to revenue associated with the anticipated closure of 10-15 Allbirds stores in 2024.
- Adjusted EBITDA2 loss of $27 million to $23 million in Q1 2024.
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 Q4 2023
-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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