Allbirds, the sustainable footwear company based in the United States, has announced its financial results for the third quarter, and the numbers have surpassed expectations. Sales for the quarter rose by 16% to $72.7 million compared to the same period last year, and a significant 54% increase compared to 2020. The company attributes this growth to a surge in the number of orders, driven by strong retail store sales and a higher average order value. Allbirds’ physical retail channel in the United States experienced a remarkable 53% boost in sales compared to 2021, thanks in part to the opening of six new stores during the quarter. This brings the total number of Allbirds locations in the country to an impressive 38.

Despite achieving exceptional sales figures, Allbirds reported a net loss of $25.2 million for the quarter, in contrast to a loss of $13.8 million during the same period last year. Additionally, adjusted EBITDA, which is another measure of financial performance, revealed a loss of $12.7 million, compared to $6.3 million last year.

Joey Zwillinger, the co-founder and co-CEO of Allbirds, expressed his pride in the company’s strong quarter and its ability to surpass revenue and EBITDA targets while remaining committed to sustainability goals. Although Allbirds’ revenues increased by 18.5% to $213.6 million for the first nine months of the year, the company experienced a net loss of $76.5 million, compared to $34.9 million during the same period last year.

Looking ahead, Zwillinger acknowledged the challenges presented by macroeconomic headwinds but expressed confidence in the brand, growth strategy, and simplification initiatives of Allbirds. He firmly believes that the company is well-positioned to emerge strongly from this period. Allbirds has reiterated its guidance targets for the full year of 2022, with adjusted net revenue projected to range between $305 million and $315 million, indicating a growth rate of 10% to 14%. The company also expects an adjusted EBITDA loss between $42.5 million and $37.5 million, which includes an estimated $8 million of recurring public company costs.

Allbirds’ strong sales performance and unwavering commitment to sustainability demonstrate its ability to flourish in a highly competitive retail environment. With an expanding retail presence and its dedication to producing high-quality, sustainable footwear, Allbirds is set up for future success.

For more information on Allbirds and their sustainable footwear, visit their website here. Additionally, readers interested in the latest trends and developments in the retail industry can explore relevant articles on Retail Dive.