{"id":206944,"date":"2022-05-11T13:23:30","date_gmt":"2022-05-11T12:23:30","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=206944"},"modified":"2022-05-11T21:14:29","modified_gmt":"2022-05-11T20:14:29","slug":"allbirds-reports-26-revenue-boost-in-q1-2022-results","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/allbirds-reports-26-revenue-boost-in-q1-2022-results\/","title":{"rendered":"Allbirds reports 26% revenue boost in Q1 2022 results"},"content":{"rendered":"<p><strong><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.theindustry.fashion\/the_directory\/allbirds\/\">Allbirds<\/a><\/span> has reported its financial results for the first quarter the year ending 31 March 2022, revealing net revenues of \u00a351 million, an increase of 26% against 2021.<\/strong><\/p>\n<p><!--more--><\/p>\n<p>Allbirds has attributed its revenue increase to \"strong\" consumer demand in the United States, although growth was negatively impacted by external headwinds, including COVID-19 restrictions in China, Russia\u2019s invasion of Ukraine in Europe, and a strengthening U.S. dollar in some international markets.<\/p>\n<p><strong>Results:<\/strong><\/p>\n<ul>\n<li>Net revenues of \u00a351 million, up 26% to Q1 2021 and 49% against Q1 2020<\/li>\n<li>Gross profits increased 26% to \u00a326.3 million against Q1 2021<\/li>\n<li>First quarter 2022 adjusted EBITDA loss of $12.2 million<\/li>\n<li>Physical retail channel sales grew 129% in the first quarter of 2022<\/li>\n<li>Four new stores opened in the quarter, ending the period with 39 locations around the world<\/li>\n<li>International net revenue increased 3% to \u00a311.2 million compared to the first quarter of 2021<\/li>\n<\/ul>\n<p>The sustainable shoe and apparel brand reported gross margins of 51.9% against 52% in Q1 2021, which it attributed to higher distribution centre and logistics costs, lower mix of international sales, and unfavourable foreign exchange rates, partially offset by higher margin products and improved pricing.<\/p>\n<p><strong>Outlook for 2022:\u00a0<\/strong><\/p>\n<ul type=\"disc\">\n<li>Net revenue of $335 million to $345 million<\/li>\n<li>Gross profit of $170.0 million to $177.5 million<\/li>\n<\/ul>\n<p>The business further announced that it was aiming to the reduce carbon footprint of its top 10 products by 6%, aligning with its 50% reduction goal\u00a0by the end of 2025 and 95% by 2030.<\/p>\n<p><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.theindustry.fashion\/podcast-allbirds-sustainability-lead-hana-kajimura\/\">TheIndustry.fashion spoke to Allbirds' Sustainability Lead, Hana Kajimura, on the In Conversation podcast, talking about the company's 2025 and 2030 sustainability goals.<\/a><\/span><\/p>\n<p>Joey Zwillinger, co-Founder and Co-CEO of Allbirds commented on the results: \"We are pleased to deliver strong first quarter performance across our key financial metrics, particularly against the backdrop of a volatile operating environment.<\/p>\n<p>\"While we are adopting a more conservative near-term outlook in light of the transitory external headwinds affecting our international business, we expect to deliver strong full year revenue growth of 21% to 24% in 2022. Importantly, we remain confident that our digital-savvy, omni-channel operating model will support continued growth and enable us to create meaningful value for our shareholders in the years ahead.\"<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":103,"featured_media":190430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10488,10585,6,10494,12969],"tags":[13554,23048,22443,4039,14311],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Allbirds reports 26% revenue boost in Q1 2022 results - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Allbirds has reported its financial results for the first quarter the year ending 31 March 2022, revealing net revenues of \u00a351 million, an increase of 26%\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/allbirds-reports-26-revenue-boost-in-q1-2022-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allbirds reports 26% revenue boost in Q1 2022 results - 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