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
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- International
| Region | FY2025 | FY2024 |
|---|---|---|
| United States | $118.6M | $143.9M |
| International | $33.8M | $45.9M |
As the company reported it, from the “Segments and Geographic Information - Schedule of Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $193.7M | $219.3M | $277.5M | $297.8M | $254.1M | $189.8M | $152.5M |
| Gross profit | — | $98.8M | $112.7M | $146.7M | $129.6M | $104.2M | $81.1M | $62.6M |
| Net income | — | -$14.5M | -$25.9M | -$45.4M | -$101.4M | -$152.5M | -$93.3M | -$77.3M |
Recent filings and events
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Item 7.01
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Other event Item 8.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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