Allbirds, Inc. Class A (BIRD)

Allbirds' stock price has declined significantly, with a share price of $3.18 as of March 27, 2026, down from $6.10 on March 28, 2025. In Q3 2025, the company reported a 23.3% year-over-year revenue decrease and a $20.3 million net loss. In late March 2026, Allbirds agreed to sell its assets to American Exchange Group for $39 million and planned to wind down, causing initial stock price volatility. The stock has fallen 62.7% over the past 12 months and 99.6% from its 2021 record. The company received a Nasdaq non-compliance notice in April 2024 for trading below $1 for over 30 days.

Allbirds' sales have historically shown seasonality, with spikes in December due to holiday spending. The company appeared to be less dependent on holiday sales as year-round demand increased leading up to 2021. In 2020, December sales accounted for 14% of annual sales, compared to 17% in 2019 and 19% in 2018. Economic uncertainty can affect consumer purchases, impacting demand for Allbirds' products, and the company continued to emphasize holiday gifting to capture consumer mindshare.

Allbirds, Inc. is an American public benefit company specializing in sustainable footwear and apparel for men and women. Founded in 2015 and headquartered in San Francisco, the company operates in the Consumer Cyclical sector, focusing on eco-friendly materials like merino wool, eucalyptus fiber, and recycled plastic. Allbirds primarily uses a direct-to-consumer model but is shifting towards a hybrid approach with third-party retailers.

Allbirds expanded globally through retail stores and a distributor model. It began with US stores in 2017 and UK stores in 2018, reaching 60 stores by 2023. In January 2026, Allbirds announced the closure of all full-price US stores, maintaining only four globally. The company transitioned to a third-party distributor model, completing deals in Australasia, Japan, Canada, South Korea, the Gulf Countries, and Southeast Asia by March 2024, with further expansion into Central America, the Caribbean, Chile, Colombia, Spain, and Portugal by May 2025.

Allbirds' brand reputation has been negatively impacted by criticism for greenwashing, waning cultural relevance, and product quality issues. The company faced a lawsuit alleging misleading strategies and artificially inflated stock prices. Ongoing financial struggles, including net losses and declining sales, have contributed to a negative perception. The decision to sell assets and wind down the company has further damaged its brand image.

Allbirds has a significant number of institutional owners and shareholders. As of March 27, 2026, 41 institutional owners held 1,488,819 shares. Major shareholders include Fmr Llc, Vanguard Group Inc, and BlackRock, Inc. Allbirds is owned by 18.02% institutional shareholders, 52.59% Allbirds insiders, and 29.38% retail investors. Goldman Sachs Group Inc is the largest individual shareholder, owning 3.38 million shares, representing 41.17% of the company.