Smartbird, Inc. BIRD
Allbirds is a global lifestyle brand that innovates with naturally derived materials to make better footwear and apparel products in a better way, while treading lighter on our planet.
We began our journey in 2015 with three fundamental beliefs about the emerging generation of consumers: first, these consumers recognize that climate change is an existential threat to the human race; second, these consumers connect their purchase decisions with their impact on the planet, demanding more from businesses; and third, these consumers do not want to compromise between looking good, feeling good, and doing good. We became a public benefit corporation, or PBC, under Delaware law and earned our B Corporation, or B Corp, certification in 2016, codifying how we take into account the impact our actions have on all of our stakeholders, including the environment, our flock of employees, communities, consumers, and investors. Our strong brand equity is fueled by our differentiated footwear and apparel products created by sustainability-driven innovation.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $152.5M | $189.8M | $254.1M | $297.8M | $277.5M | $219.3M | $193.7M | — |
| Cost of revenue | $89.9M | $108.7M | $149.8M | $168.1M | $130.8M | $106.6M | $94.8M | — |
| Gross profit | $62.6M | $81.1M | $104.2M | $129.6M | $146.7M | $112.7M | $98.8M | — |
| SG&A | $92.5M | $133.4M | $174.0M | $166.7M | $122.2M | $86.7M | $63.5M | — |
| Total operating expenses | $142.5M | $178.6M | $257.2M | $229.9M | $179.5M | $142.0M | $107.8M | — |
| Operating income | -$80.0M | -$97.6M | -$153.0M | -$100.3M | -$32.9M | -$29.2M | -$9.0M | — |
| Interest expense | — | — | $4.1M | $19.0K | $178.0K | $297.0K | $96.0K | — |
| Pre-tax income | -$76.9M | -$91.4M | -$152.1M | -$100.1M | -$44.6M | -$30.0M | -$10.9M | — |
| Income tax | $393.0K | $1.9M | $334.0K | $1.2M | $810.0K | $4.1M | $3.7M | — |
| Net income | -$77.3M | -$93.3M | -$152.5M | -$101.4M | -$45.4M | -$25.9M | -$14.5M | — |
| EPS, basic | -9.47 | -11.87 | -20.10 | -0.68 | -0.65 | -0.49 | -0.28 | — |
| EPS, diluted | -9.47 | -11.87 | -20.10 | -0.68 | -0.65 | -0.49 | -0.28 | — |
| Shares, diluted (wtd. avg.) | $8.2M | $7.9M | $7.6M | $148.8M | $69.3M | $53.0M | $51.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $26.7M | $66.7M | $130.7M | $167.8M | $288.6M | $126.6M | $75.0M | $64.5M |
| Receivables | $6.8M | $6.2M | $8.2M | $9.2M | $11.0M | $2.0M | — | — |
| Inventory | $38.9M | $44.1M | $57.8M | $116.8M | $106.9M | $59.2M | — | — |
| Total current assets | $82.1M | $130.6M | $212.4M | $308.9M | $444.4M | $214.8M | — | — |
| Property, plant and equipment | $10.5M | $17.8M | $26.1M | $54.3M | $38.0M | $23.3M | — | — |
| Total assets | $109.4M | $188.9M | $312.7M | $462.4M | $488.4M | $244.0M | — | — |
| Accounts payable | $17.8M | $10.8M | $5.9M | $12.2M | $30.7M | $20.2M | — | — |
| Total current liabilities | $40.6M | $44.4M | $48.6M | $50.0M | $81.2M | $54.7M | — | — |
| Long-term debt | $17.4M | $0 | — | — | — | — | — | — |
| Total liabilities | $73.5M | $87.2M | $127.4M | $145.6M | $91.4M | $65.5M | — | — |
| Retained earnings | -$561.8M | -$484.5M | -$391.2M | -$238.7M | -$137.4M | -$92.0M | — | — |
| Total equity | $35.9M | $101.7M | $185.3M | $316.8M | $397.0M | -$25.5M | -$9.1M | -$334.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$55.1M | -$63.9M | -$30.2M | -$90.6M | -$50.9M | -$34.6M | $42.0K | — |
| Depreciation and amortisation | $8.0M | $12.4M | $21.0M | $14.7M | $9.7M | $7.1M | $3.4M | — |
| Stock-based compensation | $7.8M | $11.5M | $19.3M | $19.9M | $11.2M | $6.8M | $4.2M | — |
| Capital expenditure | $3.1M | $4.1M | $10.9M | $31.4M | $24.2M | $14.3M | $13.1M | — |
| Investing cash flow | -$1.9M | $2.1M | -$7.7M | -$32.3M | -$25.6M | -$16.3M | -$15.2M | — |
| Financing cash flow | $16.1M | $287.0K | $640.0K | $3.6M | $238.2M | $102.2M | $25.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-022192.
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