Revenue: As of FY2026 Q1, the actual value is USD 22.32 B, beating the estimate of USD 24.5 M.EPS: As of FY2026 Q1, the actual value is USD -2.37, missing the estimate of USD -2.26.EBIT: As of FY2026 Q1, the actual value is USD -19.8 B.Allbirds, Inc. operates as one operating segment, with no segment-specific financial metrics reported beyond geographic revenue breakdowns .<h4>Revenue</h4><ul><li>Net Revenue: Allbirds, Inc.’s net revenue decreased by $9.8 million, or 30.5%, to $22.3 million for the three months ended March 31, 2026, compared to $32.1 million in the same period of 2025 .<ul><li>United States: Net revenue was $18.374 million in Q1 2026, down from $25.625 million in Q1 2025, primarily due to declines in e-commerce and retail channels, lower unit sales, and retail store closures .</li><li>International: Net revenue was $3.945 million in Q1 2026, down from $6.489 million in Q1 2025, mainly due to lower distributor net revenue and international distributor transitions .</li></ul></li></ul><h4>Operational Metrics</h4><ul><li>Cost of Revenue: Decreased by $1.6 million, or 9.0%, to $16.111 million for the three months ended March 31, 2026, from $17.714 million in the prior year period, primarily due to fewer unit sales in the U.S. direct business .</li><li>Gross Profit: Decreased by $8.2 million, or 56.9%, to $6.208 million for the three months ended March 31, 2026, from $14.400 million in the prior year period .</li><li>Gross Margin: Declined to 27.8% for the three months ended March 31, 2026, from 44.8% in the same period of 2025, reflecting lower average selling prices, promotional activity, inventory adjustment costs, and increased duties in the U.S. business .</li><li>Selling, General, and Administrative (SG&amp;A) Expense: Decreased by $6.4 million, or 25.5%, to $18.794 million for the three months ended March 31, 2026, compared to $25.212 million in the prior year period . This reduction was driven by decreases in personnel and related expenses (-$3.8 million), occupancy costs (-$1.7 million), stock-based compensation expense (-$1.1 million), and depreciation and amortization expense (-$0.5 million) .</li><li>Marketing Expense: Decreased by $4.9 million, or 40.7%, to $7.128 million for the three months ended March 31, 2026, compared to $12.018 million in the prior year period, mainly due to reduced upper funnel marketing initiatives .</li><li>Impairment Expense: Increased to $1.016 million for the three months ended March 31, 2026, from $0 million in the prior year period, due to non-cash impairments of operating lease right-of-use assets and property and equipment from retail store closures .</li><li>Restructuring Expense: Increased to $1.280 million for the three months ended March 31, 2026, from $0 million in the prior year period, driven by the closure of U.S. full-price retail stores .</li><li>Loss from Operations: Improved slightly to -$22.010 million for the three months ended March 31, 2026, compared to -$22.830 million in the prior year period .</li><li>Interest (Expense) Income: Switched from an income of $293 thousand in Q1 2025 to an expense of -$842 thousand in Q1 2026, primarily due to increased interest expense from the Credit Agreement .</li><li>Other Income: Increased by $1.5 million, or 203.2%, to $2.207 million for the three months ended March 31, 2026, from $728 thousand in the prior year period, mainly due to higher gains on lease terminations and modifications .</li><li>Net Loss: Decreased to -$20.724 million for the three months ended March 31, 2026, compared to -$21.875 million in the same period of 2025 .</li><li>Adjusted EBITDA Loss: Decreased to -$17.173 million for the three months ended March 31, 2026, compared to -$18.644 million in the prior year period, primarily due to reduced operating expenses .</li><li>Adjusted EBITDA Margin: Declined to -76.9% for the three months ended March 31, 2026, from -58.1% in the prior year period, mainly due to lower net sales .</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: -$12.065 million for the three months ended March 31, 2026, compared to -$27.883 million in the prior year period .</li><li>Net Cash Provided by Investing Activities: $65 thousand for the three months ended March 31, 2026, primarily from a decrease in security deposits, offset by property and equipment purchases .</li><li>Net Cash Provided by Financing Activities: $72 thousand for the three months ended March 31, 2026, primarily from net borrowings and repayments on the Credit Agreement facility .</li></ul><h4>Balance Sheet Highlights (as of March 31, 2026 vs. December 31, 2025)</h4><ul><li>Cash and Cash Equivalents: $14.397 million, down from $26.690 million .</li><li>Inventory: $37.199 million, down from $38.875 million .</li><li>Accounts Receivable: $4.375 million, down from $6.839 million .</li><li>Total Current Liabilities: $40.777 million, up from $40.642 million .</li><li>Total Liabilities: $68.453 million, down from $73.505 million .</li><li>Total Stockholders’ Equity: $16.276 million, down from $35.914 million .</li></ul><h4>Future Outlook and Strategy</h4>Allbirds, Inc. intends to continue operating after an Asset Sale, with plans to rename the company and explore opportunities in the computing infrastructure market, specifically focusing on the acquisition and monetization of graphics processing units and related high-performance computing infrastructure . The company has secured an agreement to sell up to $50 million in senior secured convertible notes to fund this new “Electronics Infrastructure Business,” with initial proceeds already used to purchase server equipment with NVIDIA Blackwell GPUs and enter a $2.75 million, three-year lease agreement for these assets . If the Asset Sale is approved, Allbirds, Inc. plans to distribute a special dividend to stockholders in the third quarter of 2026 .

Allbirds | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 22.32 B