Allbirds, Inc. Class A (BIRD)
NASDAQ:BIRD
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Allbirds
(NASDAQ:BIRD)
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Rating:42Neutral
Price Target:
$4.00
▼(-62.96% Downside)
Action:Reiterated
Date:06/05/26
The score is held down primarily by deteriorating financial performance (shrinking revenue, very large operating losses, and persistent cash burn) and bearish technicals (below major moving averages with negative MACD). Corporate events modestly offset the score due to strategic actions and financing flexibility, but they also add uncertainty and potential dilution, while valuation support is limited given negative earnings and no dividend yield.
Positive Factors
Convertible financing enabling AI compute pivot
The secured convertible facility funds purchase of high-performance GPUs and seeds a capital-light compute leasing business. This structurally diversifies revenue away from declining retail, targets persistent AI compute demand, and creates an asset-backed, recurring lease revenue stream if executed well.
Negative Factors
Multi-year revenue decline and weak margins
Revenue has contracted materially from 2021 levels while margins have deteriorated, indicating structural demand and cost issues. Persistent negative operating leverage and deeply negative margins signal the legacy retail model lacks sustainable profitability absent major structural change or continued outside capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Convertible financing enabling AI compute pivot
The secured convertible facility funds purchase of high-performance GPUs and seeds a capital-light compute leasing business. This structurally diversifies revenue away from declining retail, targets persistent AI compute demand, and creates an asset-backed, recurring lease revenue stream if executed well.
Read all positive factors
Allbirds Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where Allbirds is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where Allbirds is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyAllbirds (BIRD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$33.76M
Dividend YieldN/A
Average Volume (3M)615.40K
Price to Earnings (P/E)―
Beta (1Y)4.31
Revenue Growth-21.84%
EPS Growth17.71%
CountryUS
Employees542
SectorConsumer Cyclical
Sector Strength84
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)-9.15
Shares Outstanding6,274,827
10 Day Avg. Volume434,733
30 Day Avg. Volume615,399
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.93
Price to Sales (P/S)0.22
P/FCF Ratio-0.57
Enterprise Value/Market Cap1.58
Enterprise Value/Revenue0.37
Enterprise Value/Gross Profit1.00
Enterprise Value/Ebitda-0.81
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-5.31
Revenue Forecast (FY)$125.00M
Allbirds Business Overview & Revenue Model
Company Description
Allbirds, Inc. is transitioning to an AI compute infrastructure business. The company plans to acquire high-performance GPU assets and provide dedicated AI compute capacity under long-term lease arrangements, with a long-term vision to become a fu...
How the Company Makes Money
Allbirds primarily makes money by selling branded products directly to consumers, generating revenue at the point of sale for footwear and, to a lesser extent, apparel and accessories. Its key revenue streams include (1) direct-to-consumer e-comme...
Allbirds Earnings Call Summary
Earnings Call Date:Nov 06, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted successful new product launches and effective cost and inventory management. However, it also noted challenges in core franchises, revenue at the lower end of guidance, margin declines, and concerns about liquidity.Positive Updates
Successful New Product Launches
The Wool Cruiser and the 100% waterproof collection were launched and exceeded expectations. The Wool Cruiser, available in 19 colors, has become a key franchise with vibrant colors selling out first.
Negative Updates
Decline in Core Franchises
Some foundational franchises, particularly the original runner, have been slower to rebuild and have not yet inflected positively.
Read all updates
Q3-2025 Updates
Positive
Negative
Successful New Product Launches
The Wool Cruiser and the 100% waterproof collection were launched and exceeded expectations. The Wool Cruiser, available in 19 colors, has become a key franchise with vibrant colors selling out first.
Read all positive updates
Company Guidance
During the Allbirds' Third Quarter 2025 Conference Call, the company provided guidance reflecting expectations for the fourth quarter and beyond. Allbirds anticipates fourth-quarter net revenue to range from $56 million to $61 million, representing flat to up 9% growth compared to the previous year. Full-year net revenue is projected to be between $161 million and $166 million, adjusted from an earlier range of $165 million to $180 million, factoring in $23 million to $25 million from international distributor transitions and retail store closures. The company expects a fourth-quarter adjusted EBITDA loss between $16 million and $10 million, improving from a $19 million loss a year ago. For the full year, adjusted EBITDA is forecasted to be between negative $63 million and $57 million. Allbirds is focused on maintaining a lean inventory, which stood at $43 million, down 25% year-over-year, and is exploring options to enhance liquidity, such as potential capital raising. These strategies underpin Allbirds' efforts to improve top-line trends, drive growth, and maximize shareholder value amid a competitive holiday shopping period and challenging macroeconomic environment.Allbirds Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
32
Negative
Cash Flow
20
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 142.67M | 152.47M | 189.76M | 254.06M | 297.77M | 277.47M |
| Gross Profit | 52.98M | 54.55M | 81.06M | 104.23M | 129.63M | 146.66M |
| EBITDA | -65.94M | -67.80M | -81.56M | -97.85M | -81.54M | -34.36M |
| Net Income | -76.13M | -77.28M | -93.32M | -152.46M | -101.35M | -45.37M |
Balance Sheet | ||||||
| Total Assets | 84.73M | 109.42M | 188.88M | 329.61M | 484.23M | 488.43M |
| Cash, Cash Equivalents and Short-Term Investments | 14.40M | 26.69M | 66.73M | 130.67M | 167.77M | 288.58M |
| Total Debt | 33.27M | 39.64M | 53.67M | 93.95M | 105.85M | 0.00 |
| Total Liabilities | 68.45M | 73.50M | 87.19M | 144.28M | 167.46M | 91.42M |
| Stockholders Equity | 16.28M | 35.91M | 101.69M | 185.33M | 316.77M | 397.00M |
Cash Flow | ||||||
| Free Cash Flow | -41.84M | -58.23M | -67.95M | -41.09M | -121.95M | -75.03M |
| Operating Cash Flow | -39.27M | -55.08M | -63.86M | -30.22M | -90.58M | -50.85M |
| Investing Cash Flow | -1.62M | -1.90M | 2.12M | -7.71M | -32.29M | -25.64M |
| Financing Cash Flow | 16.14M | 16.07M | 287.00K | 640.00K | 3.58M | 238.15M |
Allbirds Technical Analysis
Negative
10.80
Price Trends
5.22
Negative
4.30
Negative
5.02
Negative
Market Momentum
-0.41
Negative
40.50
Neutral
28.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BIRD, the sentiment is Negative. The current price of 10.8 is above the 20-day moving average (MA) of 4.32, above the 50-day MA of 5.22, and above the 200-day MA of 5.02, indicating a bearish trend. The MACD of -0.41 indicates Negative momentum. The RSI at 40.50 is Neutral, neither overbought nor oversold. The STOCH value of 28.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BIRD.
Allbirds Risk Analysis
Allbirds disclosed 87 risk factors in its most recent earnings report. Allbirds reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Allbirds Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $12.27B | 38.79 | 15.91% | ― | 36.00% | 32.77% | |
62 Neutral | $156.41M | -47.50 | -21.26% | ― | 1.69% | 93.35% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $466.91M | -18.40 | -12.23% | ― | 3.65% | 66.88% | |
57 Neutral | $293.41M | 19.51 | 4.41% | ― | 4.68% | 3252.79% | |
53 Neutral | $126.59M | -7.00 | -9.82% | ― | -9.81% | 64.57% | |
42 Neutral | $33.76M | -0.41 | -173.54% | ― | -21.84% | 17.71% |
* Consumer Cyclical Sector Average
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Allbirds Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingShareholder Meetings
Allbirds Shareholders Approve Transformative Asset Sale Plan
Positive
Jun 4, 2026
On June 3, 2026, Allbirds, Inc. held a special meeting at which stockholders approved the sale of the company’s purchased assets under a March 29, 2026 asset purchase agreement, effectively endorsing a major strategic shift in how its busine...
Business Operations and StrategyPrivate Placements and Financing
Allbirds Amends Credit Facility, Adds New Term Loans
Neutral
May 28, 2026
On May 26, 2026, Allbirds, Inc. and its guarantor, Allbirds International, Inc., executed a Third Amendment to their existing credit agreement with a lender group led by Second Avenue Capital Partners LLC, modifying a revolving credit facility ori...
Executive/Board Changes
Allbirds Co-Founder Resigns from Board of Directors
Neutral
May 20, 2026
On May 18, 2026, Allbirds director and footwear co-founder Joseph Zwillinger resigned from the company’s Board of Directors, effective the same day. The company stated that Zwillinger’s departure was not due to any disagreement over it...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Allbirds Launches New ATM Equity Offering Program
Neutral
Apr 29, 2026
On April 28, 2026, Allbirds entered into a Class A Common Stock Sales Agreement with Chardan Capital Markets LLC to establish an at-the-market offering program for its Class A shares. Under this arrangement, Chardan may act as sales agent or princ...
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingRegulatory Filings and ComplianceShareholder Meetings
Allbirds Secures Convertible Financing to Launch AI Compute Pivot
Positive
Apr 20, 2026
On April 14 and 19, 2026, Allbirds entered into and amended a securities purchase agreement with an institutional investor for a senior secured convertible note facility of up to $50 million, with an initial $5.25 million tranche bearing 12% inter...
Business Operations and StrategyM&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Allbirds Secures Shareholder Support for Strategic Asset Sale
Positive
Apr 15, 2026
On March 29, 2026, Allbirds, Inc. entered into an Asset Purchase Agreement with Allbirds IP LLC, an entity affiliated with American Exchange Group, to sell certain assets, and is preparing a proxy statement for U.S. regulators and shareholders to ...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsRegulatory Filings and Compliance
Allbirds Agrees to Asset Sale and Planned Dissolution
Negative
Mar 31, 2026
On March 29–30, 2026, Allbirds entered into a definitive asset purchase agreement with Allbirds IP LLC, an affiliate of American Exchange Group, under which AXNY will acquire substantially all of Allbirds’ intellectual property and cer...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.