Allbirds recorded its highest sales quarter to date in Q4, notching a 23% net sales increase from last year. At the same time, net loss continued to grow, expanding by about a million dollars, to $10.4 million.
For the year, net loss was close to doubling, from $25.9 million to $45.4 million, though co-CEO Joey Zwillinger sounded an optimistic note on profitability. “We are … laser-focused on generating meaningful and durable profitability,” Zwillinger said on a call with analysts, adding that the brand had seen “great progress” there.
As it looks to a new chapter of growth, Allbirds is also expanding into wholesale starting in the second quarter.
Source: Retail Dive
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