Allbirds co-founder and director Tim Brown pictured at the firm’s Britomart, Auckland store. Photo / Dean Purcell
Allbirds, the maker of woollen shoes and activewear incorporating New Zealand Merino wool and other recycled materials, reported September-quarter revenue that fell 24.9% to US$43.0 million ($71.1m).
Its net loss narrowed to US$21.2m from US$31.6m in the third quarter of 2023 amid an ongoing restructure that has included store closures.
The firm lost a cumulative US$67.6m in the first nine months of this year, versus US$95.7m in the first three quarters of 2023.
Its September ebitda loss came in at US$16.2m from the year-ago US$19.0m.
It finished the quarter with US$78.6m in cash from the year-ago US$130m, and no borrowings from a US$50m credit facility.
