Allbirds, Inc. reported its second quarter 2025 net revenue decreased 23.1% to $39.7 million compared to $51.6 million in Q2 2024. This decline was primarily due to planned store closures and the ongoing transition to third-party international distributors.
Gross margin for Q2 2025 fell to 40.7% from 50.5% in the prior year, attributed to greater promotional activity, inventory write-downs from distributor sales in Europe, and increased freight and duty costs. Despite this, adjusted EBITDA loss improved to $12.6 million from a $13.7 million loss in Q2 2024.
The company revised its full year 2025 net revenue outlook downward to a range of $165 million to $180 million, from the previous guidance of $175 million to $195 million. Allbirds reiterated its full year adjusted EBITDA loss guidance of $65 million to $55 million, expecting a return to top-line growth in Q4 2025.
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