Allbirds stock drops to 52-week low of $6.76 amid market woes By Investing.com

It shows market volatility, Allbirds Inc. (NASDAQ:) stock fell to a 52-week low, falling to $6.76. To follow InvestingPro data, the eco-friendly footwear company saw its market capitalization shrink to just $56.9 million, and the stock is down a whopping 70.7% year to date. The company, known for its consistent fashion style, is facing a difficult year marked by major headlines. Investors have expressed concern as the brand struggles with a competitive retail environment and changing consumer habits. InvestingPro analysis reveals that the company is rapidly burning through cash, with revenue down 22.7% over the past twelve months. Despite these problems, the company maintains a strong current ratio of 3.39, indicating solid short-term earnings. The current price level represents a critical time for Allbirds as it strives to navigate strong headwinds and reposition itself for future growth. For in-depth insight into Allbirds’ financial health and future prospects, investors can access the full Pro Research Report, available only from InvestingPro.

In other recent news, Allbirds reported its Q3 2024 earnings with revenue of $43 million. The company cited lower unit sales and a change in dealer model elsewhere as reasons for the decline in revenue. However, Allbirds also saw an increase in revenue of 44.4% due to reduced cost of goods and better inventory management.

Two new products, Tree Glider and Lounger Lift, were launched and have been well received by customers. Allbirds revised its full-year revenue guidance to between $187 million and $193 million and expects an adjusted EBITDA loss of $75 million to $71 million.

The company also revealed plans for strategic operations and marketing changes to prepare for new product launches in the second half of 2025. In addition, Allbirds received two new international agreements, expanding the reach while in Latin America and Europe from mid-2025. These latest developments show a focus on growth and market expansion despite the challenges faced in the last quarter like this.

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