A woman walks past an Allbirds store in the Georgetown neighborhood of Washington, D.C., on Tuesday, Feb. 16, 2021.
Al Drago | Bloomberg | Getty Images
Allbirds on Wednesday reported fourth-quarter sales that beat analysts’ estimates and a net loss that was in line with expectations.
Shares were falling nearly 6% in extended trading following the release. Allbirds’ stock has tumbled 60% since its first trade of $21.21 when it debuted on the Nasdaq last November. Shares hit an all-time intraday low of $7.98 on Wednesday.
Here’s how the company did in its fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:
- Loss per share: 9 cents vs. a loss of 9 cents expected
- Revenue: $97.2 million vs. $91.8 million expected
Its net loss for the three-month period ended Dec. 31 widened to $10.7 million, or 9 cents a share, from a loss of $9.4 million, or 18 cents per share, a year earlier. That was in line with estimates from analysts polled by Refinitiv.
Revenue grew 23% to $97.2 million from $79.3 million a year earlier, topping estimates for $91.8 million.
Read the full financial press release from Allbirds here.
This story is developing. Please check back for updates.
Source: https://www.cnbc.com/2022/02/23/allbirds-bird-reports-q4-2021-earnings.html