BIRD — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-15

• Allbirds has historically been a lifestyle footwear and apparel brand. As of March 31, 2026, we generated our revenue via sales of footwear and apparel products, primarily through our direct business, a digitally-led vertical retail distribution strategy. We generally market directly to consumers vi…

• •We generated net revenue of $22.3 million and $32.1 million for the three months ended March 31, 2026 and 2025, respectively.

• •Our gross margin was 27.8% and 44.8% for the three months ended March 31, 2026 and 2025, respectively.

• •We generated net loss of $20.7 million and $21.9 million for the three months ended March 31, 2026 and 2025, respectively.

• •We generated adjusted EBITDA loss of $17.2 million and $18.6 million for the three months ended March 31, 2026 and 2025, respectively.

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• Allbirds is a purpose-driven lifestyle brand that innovates with sustainable materials to make better footwear and apparel products in a better way, while treading lighter on our planet.

• We generate our revenue via sales of footwear and apparel products, primarily through our direct business, a digitally-led vertical retail distribution strategy. We generally market directly to consumers via our localized digital platform and our physical footprint of 23 stores as of September 30, 2…

• Designing and creating products using innovative, sustainable materials is a challenging process for both us and our supply chain partners. We have invested time and resources to train our manufacturers to use our natural materials, which we believe makes it difficult to replicate our novel manufact…

• For the three and nine months ended September 30, 2025 and 2024:

• •We generated net revenue of $33.0 million and $104.8 million for the three and nine months ended September 30, 2025, respectively, as compared to $43.0 million and $133.9 million for the same periods in 2024.

Text added vs the prior filing · source: 10-Q · 2026-05-15

• In designing and evaluating our disclosure controls and procedures, our management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. Because of the inherent limitations in all cont…

• There was no change in our internal control over financial reporting that occurred during the quarter ended March 31, 2026 that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• In designing and evaluating our disclosure controls and procedures, our management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. Because of the inherent limitations in all cont…

• have been detected. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, controls may becom…

• There was no change in our internal control over financial reporting that occurred during the quarter ended September 30, 2025 that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.

Text added vs the prior filing · source: 10-Q · 2026-05-15

• If we fail to complete the Asset Sale, or if the Asset Sale is materially delayed, our business, liquidity and ability to make the Asset Sale Dividend may be materially harmed and our financial condition, strategic alternatives and the price of our Class A common stock could be materially adversely …

• We cannot provide assurances that the Asset Sale will be completed on the timeline currently anticipated or at all. The closing of the Asset Sale is subject to a number of conditions, including but not limited to our obtaining stockholder approval of the Asset Purchase Agreement and providing necess…

• If the Asset Sale is not completed, or if completion is materially delayed, our business, financial condition and liquidity could be materially and adversely affected. We have extremely limited available cash and continue to incur substantial operating expenses, transaction expenses, professional fe…

• Further, if the Asset Sale is not completed, we may remain responsible for operating a legacy business that we have described as unsustainable and loss-making, while also having incurred significant transaction costs, and having

• caused management distraction and market uncertainty. In such circumstances, we may have significantly fewer strategic alternatives available to us, may be required to seek additional financing on unfavorable terms or at all, may be required to declare bankruptcy, and may be unable to pursue the ant…

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• Risks Related to Our Financial Condition, Business, Brand, Products, and Industry

• We have incurred significant net losses since inception and anticipate that we will continue to incur losses for the foreseeable future.

• We are not profitable and have incurred significant losses since inception. We incurred a net loss of $20.3 million and $57.7 million for the three and nine months ended September 30, 2025, respectively, and net cash used in operating activities was $51.8 million for the nine months ended September …

• Our ability to achieve profitability depends on our ability to generate sufficient revenue to exceed our operating expenses. Even if we achieve profitability, we may not be able to sustain or increase profitability on a quarterly or annual basis. Our failure to maintain sufficient liquidity for curr…

• We may require additional capital to support business growth, and this capital might be unavailable or might be available only by diluting existing stockholders.