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Allbirds
(NASDAQ:BIRD)
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Rating:46Neutral
Price Target:
$4.00
▼(-62.96% Downside)
Action:Reiterated
Date:07/01/26
Overall score is weighed down primarily by poor financial performance (shrinking revenue base, very large losses, and ongoing cash burn with a weakened equity cushion). Corporate events add some support via improved liquidity and a completed asset sale/repositioning, but dilution and execution risk remain. Technical and valuation inputs are limited/less supportive due to missing indicators and a negative P/E.
Positive Factors
Proceeds from asset sale
The $40.7M cash receipt from the footwear asset sale materially strengthens near-term liquidity, creating a multi-month runway to fund transition activities, reduce immediate financing pressure, and optionally return capital to shareholders. This one-time boost meaningfully improves the company’s balance sheet resilience while management executes the strategic pivot.
Negative Factors
Persistent cash burn
Sustained negative operating and free cash flow indicate the company is not self-funding and will need external capital to operate. Continued cash burn converts accounting losses into real liquidity drains, increasing reliance on debt/equity financing and raising the risk that future dilution or higher-cost capital will be required to sustain operations during the pivot.
Read all positive and negative factors
Positive Factors
Negative Factors
Proceeds from asset sale
The $40.7M cash receipt from the footwear asset sale materially strengthens near-term liquidity, creating a multi-month runway to fund transition activities, reduce immediate financing pressure, and optionally return capital to shareholders. This one-time boost meaningfully improves the company’s balance sheet resilience while management executes the strategic pivot.
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
$52.63M
Dividend YieldN/A
Average Volume (3M)2.42M
Price to Earnings (P/E)―
Beta (1Y)4.43
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. Volume6,327,393
30 Day Avg. Volume2,423,874
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 Cap1.23
Enterprise Value/Revenue0.45
Enterprise Value/Gross Profit1.22
Enterprise Value/Ebitda-0.99
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 undergoing a significant strategic pivot, reorienting its primary operations to become an AI compute infrastructure company. The firm plans to procure powerful GPU assets to deliver specialized AI processing capabilities through ...
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 | -64.92M | -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
4.92
Negative
4.38
Negative
4.84
Negative
Market Momentum
-0.12
Positive
42.36
Neutral
2.19
Positive
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 4.34, above the 50-day MA of 4.92, and above the 200-day MA of 4.84, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 42.36 is Neutral, neither overbought nor oversold. The STOCH value of 2.19 is Positive, 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 | $12.19B | 38.48 | 15.91% | ― | 36.00% | 32.77% | |
65 Neutral | $512.36M | -26.69 | -9.35% | ― | 4.66% | 68.21% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $169.11M | -13.76 | -6.80% | ― | -8.42% | 79.65% | |
58 Neutral | $120.12M | -39.80 | -3.98% | ― | 1.69% | 93.35% | |
55 Neutral | $296.11M | 19.29 | 4.73% | ― | 4.68% | 3252.79% | |
46 Neutral | $52.63M | ― | -173.54% | ― | -21.84% | 17.71% |
* Consumer Cyclical Sector Average
BIRD
Allbirds
3.85
-6.44
-62.59%
TLYS
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3.94
2.45
164.43%
ZUMZ
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17.55
3.37
23.77%
DLTH
Duluth Holdings
4.45
2.33
109.91%
SFIX
Stitch Fix
3.84
-0.15
-3.76%
ONON
On Holding AG
36.83
-17.53
-32.25%
Allbirds Corporate Events
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and FinancingRegulatory Filings and Compliance
Allbirds Expands Funding as Smartbird AI Pivot Advances
Positive
Jun 17, 2026
On June 15, 2026, the company increased its senior secured convertible note facility by $50 million to a total of up to $100 million, raising the conversion price on the incremental notes, a move that bolsters liquidity as it pivots fully into AI ...
Business Operations and StrategyDividendsM&A Transactions
Allbirds Completes Footwear Asset Sale and Declares Dividend
Positive
Jun 15, 2026
Allbirds has completed the previously announced sale of its footwear-related assets to Allbirds IP LLC, an affiliate of American Exchange Group, with the transaction closing on June 9, 2026. The deal transfers intellectual property, inventory, acc...
Private Placements and FinancingRegulatory Filings and Compliance
Allbirds Expands At-The-Market Equity Offering Capacity
Neutral
Jun 11, 2026
On June 11, 2026, Allbirds, Inc. increased the maximum aggregate offering price of Class A common stock that can be sold under its existing at-the-market offering program with Chardan Capital Markets LLC. The company filed a prospectus supplement ...
Private Placements and Financing
Allbirds Raises $5 Million Through Convertible Note Sale
Positive
Jun 10, 2026
On April 14, 2026, Allbirds, Inc. entered into a Securities Purchase Agreement to issue up to $50 million in senior secured convertible notes, which are convertible into shares of its Class A common stock. The structure provides flexible financing...
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 ...
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.