Allbirds, Inc. (BIRD) Tops Q2 EPS by 5c, provides guidance

Allbirds, Inc. (NASDAQ: BIRD) reported Q2 EPS of ($0.12), $0.05 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $51.6 million versus the consensus estimate of $50.42 million.

GUIDANCE:

Allbirds, Inc. sees FY2024 revenue of $190-210 million, versus the consensus of $197 million.

US net revenue of $150 million to $165 million, including a $10 million to $12 million impact resulting from anticipated store closures
International net revenue of $40 million to $45 million, including $15 million to $18 million of impact resulting from transitions to a distributor model in certain international markets

The Company is increasing its full year 2024 gross margin guidance and tightening its full year 2024 Adjusted EBITDA guidance range as follows:

Gross margin of 43% to 46% compared to prior guidance of 42% to 45%
Adjusted EBITDA2 loss of $75 million to $63 million compared to prior guidance for a loss of $78 million to $63 million

The Company is providing the following guidance for the third quarter of 2024:

Net revenue of $40 million to $43 million, versus the consensus of $43.51M consensus

US net revenue of $33 million to $35 million
International net revenue of $7 million to $8 million

Adjusted EBITDA2 loss of $19 million to $16 million

For earnings history and earnings-related data on Allbirds, Inc. (BIRD) click here.

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