Allbirds reports record-breaking Q4 revenues, 2021 sales surge 27%
Allbirds announced on Wednesday record-breaking revenues of $97 million for the fourth quarter, sending the innovative footwear and apparel brand's 2021 sales up 27% for the year.
San Francisco-based Allbirds said fourth-quarter revenues increased 23% to $97.2 million, compared to the fourth quarter of 2020 and increased 43% compared to the fourth quarter of 2019, making it Allbirds’ highest sales quarter to date.
By region, net revenue in the United States increased 25% to $76.9 million and international net revenue increased 14% to $20.3 million.
For the 12 months ending December 31, Allbirds saw revenues climb 27% to to $277.5 million compared to 2020, or 43% compared to 2019.
Net revenue in the United States for the full year increased 26% to $209.8 million and international net revenue increased 29% to $67.7 million compared. The increases came on strong consumer demand across geographies and channels, as well as new products, said the company in a statement.
“We are pleased to report a strong finish to 2021, with Q4 representing our largest revenue quarter on record, headlining financial performance ahead of our guidance targets,” said Joey Zwillinger, co-founder and o-CEO.
“Our results reflect strong global demand for the Allbirds brand and best-in-class execution by our teams during a period of ongoing macro challenges. Fourth quarter revenue grew 23% year-over-year and 43% versus 2019, representing an acceleration of our two-year growth rate. In the quarter, we saw strength across retail and digital channels, as well as geographies. The quarter culminated with a remarkable holiday season, which included the two biggest sales days in company history, highlighting the power of our omni-channel model.”
Net loss in the fourth quarter was $10.4 million, compared to net loss of $9.4 million in 2020, said Allbirds, while net loss for the full year was $45.4 million, compared to net loss of $25.9 million in 2020.
“Looking at full year 2021 as a whole, we are pleased that we grew net revenue by 27%, while continuing to improve our profitability, as evidenced by a 30% year-over-year improvement in gross profit, a 145 bps improvement in gross margin, and a 24% year-over-year improvement in adjusted EBITDA," said Mike Bufano, chief financial officer.
"The strength of our fourth quarter and full year results provides us with continued confidence in our medium-term financial targets of 20-30% net revenue growth, 60%+ gross margin, and mid- to high-teens adjusted EBITDA margin.”
Looking ahead, Allbirds said it expects net revenue of $355 million to $365 million in 2022, representing growth in the range of 28% to 32% versus fiscal 2021.
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