Allbirds Shares Plummet 14% on Weak Guidance, While Q2 Results Beat Estimates
2022.08.09 01:01
Allbirds Shares Plummet 14% on Weak Guidance, While Q2 Results Beat Estimates
Allbirds, Inc. (BIRD) shares plunged more than 14% after-hours following the company’s reported Q2 results. While both EPS of ($0.12) and revenue of $78.2 million (up 15% year-over-year) came in better than the consensus estimates of ($0.16) and $77.8 million, respectively, full-year guidance was disappointing.
“I am proud of our strong second quarter performance in which we achieved our revenue expectations and exceeded our adjusted EBITDA expectations, while continuing to take market share,” said Joey Zwillinger, co-Founder and Co-CEO.
The company expects Q3 adjusted net revenue to be in the range of $65-$70 million, representing year-over-year growth in the range of 4%-12%.
For the full 2022-year, the company expects revenue in the range of $305-315 million, worse than the consensus estimate of $339.6 million.
By Davit Kirakosyan
