BIRD

MKT CAP:$59M

Allbirds, Inc.

Market Cap

$59M

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Technology·Software Infra·🇺🇸·NASDAQ

Stock Price

$11.71+$7.59 (+184.28%)

Apr 20, 2026

Company Details

Allbirds, Inc. manufactures and sells footwear and apparel products for men and women. It offers shoes, such as running shoes, everyday sneakers, high-tops, slip-ons, boat shoes, flats, weather repellent shoes, and sandals. The company's ap...

CEO

Joe Vernachio

IPO Date

Nov 3, 2021

Website

www.allbirds.com

Key Metrics TTM

Revenue

$152M

-19.7% YoY

Net Income

-$77M

EPS (Diluted)

-$9.49

Free Cash Flow

-$58M

Revenue / Share

$18.69

Gross Margin

41.0%

Operating Margin

-49.3%

Net Margin

-50.7%

FCF Margin

-38.2%

P/S

0.4x

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 30, 2026

$152M-19.7%EPS -$9.47

Q4 2025

Mar 30, 2026

$48M-14.6%EPS -$2.35

Q3 2025

Nov 6, 2025

$33M-23.3%EPS -$2.49

Q2 2025

Aug 7, 2025

$40M-23.1%EPS -$1.92

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$63M	$33M	-$20M
Q2 22	$78M	$28M	-$29M
Q3 22	$73M	$33M	-$26M
Q4 22	$84M	$36M	-$25M
Q1 23	$54M	$22M	-$36M
Q2 23	$70M	$30M	-$30M
Q3 23	$57M	$25M	-$30M
Q4 23	$72M	$27M	-$58M
Q1 24	$39M	$18M	-$30M
Q2 24	$52M	$26M	-$20M
Q3 24	$43M	$19M	-$22M
Q4 24	$56M	$17M	-$26M
Q1 25	$32M	$14M	-$23M
Q2 25	$40M	$16M	-$17M
Q3 25	$33M	$14M	-$20M
Q4 25	$48M	$18M	-$16M

Valuation

Quarter	P/S	P/E
Q1 22	3.1x	—
Q2 22	2.1x	—
Q3 22	1.5x	—
Q4 22	1.2x	—
Q1 23	0.6x	—
Q2 23	0.7x	—
Q3 23	0.7x	—
Q4 23	0.7x	—
Q1 24	0.4x	—
Q2 24	0.4x	—
Q3 24	0.5x	—
Q4 24	0.3x	—
Q1 25	0.3x	—
Q2 25	0.5x	—
Q3 25	0.3x	—
Q4 25	0.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$40M	-$49M
Q2 22	-$24M	-$32M
Q3 22	-$18M	-$26M
Q4 22	-$8M	-$15M
Q1 23	-$21M	-$24M
Q2 23	$828.0K	-$4M
Q3 23	-$5M	-$7M
Q4 23	-$5M	-$6M
Q1 24	-$26M	-$27M
Q2 24	-$16M	-$17M
Q3 24	-$11M	-$12M
Q4 24	-$11M	-$12M
Q1 25	-$28M	-$29M
Q2 25	-$9M	-$9M
Q3 25	-$15M	-$16M
Q4 25	-$3M	-$4M

Capital Expenditures

Quarter	CapEx
Q1 22	$8M
Q2 22	$8M
Q3 22	$8M
Q4 22	$6M
Q1 23	$3M
Q2 23	$5M
Q3 23	$2M
Q4 23	$1M
Q1 24	$1M
Q2 24	$1M
Q3 24	$656.0K
Q4 24	$1M
Q1 25	$643.0K
Q2 25	$728.0K
Q3 25	$904.0K
Q4 25	$870.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+26.4%	+37.8%
Q2 22	+15.1%	+49.2%
Q3 22	+15.9%	+31.6%
Q4 22	-13.4%	+5.8%
Q1 23	-13.4%	+8.8%
Q2 23	-9.8%	-6.9%
Q3 23	-21.2%	-11.1%
Q4 23	-14.5%	+18.2%
Q1 24	-27.6%	-23.2%
Q2 24	-26.8%	-28.3%
Q3 24	-24.9%	-25.8%
Q4 24	-22.4%	-37.0%
Q1 25	-18.3%	-20.5%
Q2 25	-23.1%	-21.7%
Q3 25	-23.3%	-18.4%
Q4 25	-14.6%	-22.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$4M	7.0%
Q2 22	$5M	5.9%
Q3 22	$6M	8.0%
Q4 22	$0	0.0%
Q1 23	$6M	10.4%
Q2 23	$5M	7.5%
Q3 23	$5M	8.2%
Q4 23	$0	0.0%
Q1 24	$3M	8.5%
Q2 24	$3M	5.7%
Q3 24	$3M	6.1%
Q4 24	$3M	4.6%
Q1 25	$2M	7.1%
Q2 25	$2M	5.3%
Q3 25	$0	0.0%
Q4 25	$2M	3.8%

OpEx Breakdown

Quarter	G&A	S&M
Q1 22	$39M	$14M
Q2 22	$42M	$16M
Q3 22	$45M	$13M
Q4 22	$41M	$17M
Q1 23	$43M	$11M
Q2 23	$46M	$13M
Q3 23	$44M	$10M
Q4 23	$42M	$15M
Q1 24	$40M	$8M
Q2 24	$34M	$12M
Q3 24	$31M	$10M
Q4 24	$29M	$12M
Q1 25	$25M	$12M
Q2 25	$24M	$9M
Q3 25	$22M	$12M
Q4 25	$21M	$13M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	26.4%	-26.3%	0.1
Q2 22	15.1%	-32.9%	-17.8
Q3 22	15.9%	-29.3%	-13.5
Q4 22	-13.4%	-21.7%	-35.1
Q1 23	-13.4%	-50.3%	-63.7
Q2 23	-9.8%	-33.5%	-43.4
Q3 23	-21.2%	-41.4%	-62.6
Q4 23	-14.5%	-32.1%	-46.6
Q1 24	-27.6%	-61.4%	-89.1
Q2 24	-26.8%	-32.5%	-59.3
Q3 24	-24.9%	-43.9%	-68.7
Q4 24	-22.4%	-39.0%	-61.4
Q1 25	-18.3%	-65.2%	-83.5
Q2 25	-23.1%	-36.9%	-59.9
Q3 25	-23.3%	-54.5%	-77.7
Q4 25	-14.6%	-30.0%	-44.6

Rule of 40

Revenue Segments

Quarter	Reportable Segment
Q1 25	$32M
Q2 25	$40M
Q3 25	$33M
Q4 25	$48M

Revenue by Geography

Quarter	Non-US	United States
Q1 22	$14M	$49M
Q2 22	$19M	$59M
Q3 22	$17M	$56M
Q4 22	$19M	$66M
Q1 23	$14M	$41M
Q2 23	$20M	$51M
Q3 23	$14M	$44M
Q4 23	$16M	$56M
Q1 24	$10M	$29M
Q2 24	$15M	$37M
Q3 24	$11M	$32M
Q1 25	$6M	$26M
Q2 25	$11M	$29M
Q3 25	$7M	$26M
Q4 25	$9M	$39M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$240M	$0	$240M
Q2 22	$207M	$0	$207M
Q3 22	$181M	$0	$181M
Q4 22	$168M	$0	$168M
Q1 23	$143M	$0	$143M
Q2 23	$141M	$0	$141M
Q3 23	$133M	$0	$133M
Q4 23	$131M	$0	$131M
Q1 24	$103M	$0	$103M
Q2 24	$88M	$0	$88M
Q3 24	$79M	$0	$79M
Q4 24	$67M	$0	$67M
Q1 25	$39M	$0	$39M
Q2 25	$33M	$0	$33M
Q3 25	$24M	$0	$24M
Q4 25	$27M	$0	$27M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	7M	+30.2%	+16.2%
Q2 22	7M	+0.8%	+17.1%
Q3 22	7M	+0.4%	+4.3%
Q4 22	7M	+0.2%	+32.0%
Q1 23	8M	+0.3%	+1.7%
Q2 23	8M	+0.5%	+1.5%
Q3 23	8M	+0.8%	+1.9%
Q4 23	8M	+1.0%	+2.7%
Q1 24	8M	+1.1%	+3.5%
Q2 24	8M	+0.7%	+3.7%
Q3 24	8M	+1.0%	+3.9%
Q4 24	8M	-0.5%	+2.3%
Q1 25	8M	+2.0%	+3.2%
Q2 25	8M	+0.9%	+3.4%
Q3 25	8M	+1.0%	+3.4%
Q4 25	8M	-0.1%	+3.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$148.0K	424
Q2 22	$184.4K	424
Q3 22	$171.3K	424
Q4 22	$110.8K	760
Q1 23	$71.5K	760
Q2 23	$92.7K	760
Q3 23	$75.3K	760
Q4 23	$102.8K	700
Q1 24	$56.2K	700
Q2 24	$73.7K	700
Q3 24	$61.4K	700
Q4 24	$159.6K	350
Q1 25	$91.8K	350
Q2 25	$113.4K	350
Q3 25	$94.3K	350
Q4 25	$238.4K	200

Revenue / Employee