Allbirds Sees Q3 Net Revenue Of $40M-$43M Vs. $43.53M Est.; Reiterates 2024 Revenue Outlook Of $190M-$210M Vs. Est $197.048M Est.
Portfolio Pulse from Benzinga Newsdesk
Allbirds has provided its Q3 and full-year 2024 financial outlook. The company expects Q3 net revenue between $40M-$43M, below the $43.53M estimate. For 2024, Allbirds reiterates its revenue guidance of $190M-$210M, with US revenue impacted by store closures and international revenue affected by a shift to a distributor model. The company has also increased its gross margin guidance and tightened its adjusted EBITDA loss range.
August 08, 2024 | 7:30 am
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Allbirds expects Q3 net revenue of $40M-$43M, below the $43.53M estimate. The company reiterates its 2024 revenue guidance of $190M-$210M, with US revenue impacted by store closures and international revenue affected by a shift to a distributor model. Gross margin guidance has been increased, and the adjusted EBITDA loss range has been tightened.
The Q3 revenue guidance is slightly below estimates, which could be seen as a negative. However, the reiteration of the full-year revenue outlook and the increase in gross margin guidance are positive signs. The mixed signals likely result in a neutral short-term impact on the stock price.
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