AllBirds, Inc. (Bird): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage en constante évolution de la mode durable, AllBirds est devenu une marque révolutionnaire qui transforme les chaussures écologiques en un phénomène mondial. En fabriquant méticuleusement un modèle commercial qui mêle la responsabilité environnementale avec un design innovant, l'entreprise a capturé le cœur des milléniaux et des professionnels urbains à la recherche de confort, de style et de durabilité. Leur approche unique va au-delà de la simple production de chaussures, créant un récit convaincant qui remet en question les normes traditionnelles de l'industrie de la mode et établit une nouvelle norme pour les biens de consommation responsables.

AllBirds, Inc. (Bird) - Modèle d'entreprise: partenariats clés

Fournisseurs de matériaux durables

AllBirds s'associe à des fournisseurs de matériaux durables spécifiques:

Matériel	Détails du fournisseur	Volume annuel
ZQ Wool Merino	Compagnie mérinos néo-zélandaise	Environ 250 000 kg par an
Fibre d'eucalyptus	Lenzing AG (Autriche)	Environ 180 000 kg par an

Partenaires de fabrication

AllBirds maintient les relations de fabrication dans des régions spécifiques:

Pays	Nombre d'usines	Capacité de production
Chine	2 usines certifiées	500 000 unités de chaussures par an
Vietnam	1 usine certifiée	350 000 unités de chaussures par an

Partenaires de distribution de détail

• Nordstrom (85 emplacements de vente au détail)
• REI (168 emplacements de vente au détail)
• Voix extérieures
• Détaillants sportifs spécialisés

Organisations de certification de durabilité

Certification	Corps de vérification	Niveau de conformité
Certification B Corp	B Laborat	Score: 91,4 points
Certification de carbone neutre	Climat neutre	100% compensé depuis 2019

Compensation de carbone et organisations à but non lucratif environnementales

• Offsetors Climate Solutions (Canada)
• Effet cool
• International de conservation

Investissement total de compensation de carbone en 2023: 2,3 millions de dollars

AllBirds, Inc. (oiseau) - Modèle d'entreprise: activités clés

Design de chaussures et de vêtements durables

Depuis le quatrième trimestre 2023, AllBirds maintient 13 innovations de matériaux uniques dans la conception de chaussures, avec 92% des matériaux provenant de ressources renouvelables.

Catégorie de conception	Total designs	Pourcentage de durabilité
Chaussures de laine	7 modèles	97% de matériaux durables
Chaussures en fibre d'arbres	5 modèles	Matériaux durables à 95%
Ligne de vêtements	18 types de produits	89% de matériaux durables

Recherche et développement matériel respectueux de l'environnement

AllBirds a investi 4,2 millions de dollars dans la R&D en 2023, en se concentrant sur des matériaux durables innovants.

• Norme d'approvisionnement en laine mérino zq développé
• Création de la technologie unique SweetFoam ™ à base de canne à sucre
• Intégration de la bouteille en plastique recyclée dans la fabrication de chaussures

Ventes en ligne directes aux consommateurs

Les ventes en ligne représentaient 62% des revenus totaux en 2023, totalisant 97,3 millions de dollars.

Canal de vente	Revenu	Taux de croissance
Plate-forme de commerce électronique	97,3 millions de dollars	Croissance de 12,4% en glissement annuel
Trafic	3,2 millions de visiteurs mensuels	Augmentation de 18%

Opérations de magasin de détail

AllBirds exploite 44 emplacements de vente au détail physiques à travers les États-Unis et les marchés internationaux en décembre 2023.

• 26 magasins aux États-Unis
• 8 magasins au Canada
• 10 magasins sur les marchés internationaux

Marketing durable et narration de marque

Les dépenses de marketing en 2023 étaient de 22,6 millions de dollars, 85% axées sur le récit de la durabilité.

Canal de marketing	Dépenses	Focus sur la durabilité
Marketing numérique	14,3 millions de dollars	Contenu de la durabilité à 90%
Réseaux sociaux	5,2 millions de dollars	Messagerie écologique à 80%
Impression et médias traditionnels	3,1 millions de dollars	75% de narration de durabilité

AllBirds, Inc. (Bird) - Modèle d'entreprise: Ressources clés

Technologies matérielles durables propriétaires

AllBirds utilise des matériaux durables uniques dans leur développement de produits:

Matériel	Composition	Application de produit
Laine	ZQ Wool Merino	Chaussures et vêtements
Canne à sucre	Sweetfoam ™ eva	Semelles à chaussures
Plastique recyclé	Bouteilles converties en tissu	Oncteurs

Grande réputation de marque de manière écologique

Métriques de la marque à partir de 2023:

• Certification de carbone neutre
• B CORP CERTIFIÉ
• Objectif net zéro en carbone d'ici 2025

Équipe de conception et d'innovation

Composition de l'équipe d'innovation:

Catégorie	Nombre de professionnels
Ingénieurs de conception	42
Spécialistes des matériaux	18
Experts en durabilité	12

Infrastructure de commerce électronique numérique

Métriques de performance du commerce électronique:

• Ventes en ligne: 297,4 millions de dollars (2023)
• Taux de conversion numérique: 3,2%
• Trafic mobile: 68% du trafic Web total

Propriété intellectuelle axée sur la durabilité

Catégorie IP	Nombre de brevets enregistrés
Innovation matérielle	14
Processus de fabrication	7
Conception durable	9

AllBirds, Inc. (Bird) - Modèle d'entreprise: propositions de valeur

Conscients de l'environnement et de chaussures minimalistes

AllBirds utilise un polyester recyclé à 90% et 40% de matériaux naturels dans leur production de chaussures. L'empreinte carbone de l'entreprise par paire de chaussures est de 7,6 kg de CO2E, nettement plus bas que les fabricants de chaussures traditionnels.

Type de matériau	Pourcentage utilisé	Impact sur la durabilité
Laine de mérinos	30%	Ressource renouvelable
Polyester recyclé	90%	Réduction des déchets plastiques
Caoutchouc naturel	10%	Composant biodégradable

Designs de chaussures axées sur le confort

AllBirds propose des conceptions de chaussures avec Support ergonomique et construction légère. Leur semelle intermédiaire propriétaire sweetfoam® offre un rendement énergétique de 82% et réduit la fatigue du pied.

• Poids moyen de la chaussure: 340 grammes
• Efficacité de rembourrage: 4.2 / 5 Évaluation du client
• Évaluation du support Arch: 4.1 / 5

Pratiques de durabilité transparente

AllBIRDS rapporte un total d'émissions de carbone de 12 700 tonnes métriques en 2023, avec une neutralité de carbone 100% réalisée grâce à des programmes de décalage vérifiés.

Catégorie de décalage de carbone	Montant d'investissement	Pourcentage de compensation
Projets de reboisement	1,2 million de dollars	45%
Crédits d'énergie renouvelable	$850,000	35%
Programmes de capture de méthane	$450,000	20%

Matériaux naturels et renouvelables

AllBirds s'approvisionne en matériaux de fournisseurs durables, avec 95% des matières premières traçables à leur origine.

• Laine provenant de fermes certifiées ZQ
• Caoutchouc naturel certifié FSC
• Fibre Tencel ™ Lyocell à partir de forêts gérées de manière durable

Offres de produits neutres en carbone

En 2024, AllBirds maintient une gamme de produits neutre en carbone avec chaque chaussure étiquetée avec son empreinte carbone précise. Empreinte carbone moyenne par chaussure: 7,6 kg CO2E.

Gamme de produits	Empreinte carbone	Méthode de décalage
Coureurs de laine	7,2 kg CO2E	100% en carbone neutre
Coureurs d'arbres	7,6 kg CO2E	100% en carbone neutre
Dasteur	8,1 kg CO2E	100% en carbone neutre

AllBirds, Inc. (Bird) - Modèle d'entreprise: relations avec les clients

Engagement communautaire numérique

Au quatrième trimestre 2023, AllBirds maintient 1,2 million de followers Instagram et 250 000 membres actifs de la communauté Facebook. Leur taux d'engagement des médias sociaux est en moyenne de 3,7% sur toutes les plateformes.

Plate-forme sociale	Nombre de suiveurs	Taux d'engagement
Instagram	1,200,000	3.9%
Facebook	250,000	3.5%
Gazouillement	85,000	2.8%

Expérience d'achat en ligne personnalisée

AllBIRDS utilise la technologie de personnalisation axée sur l'IA qui augmente les taux de conversion de 22,5%. Leur moteur de recommandation en ligne traite 15 000 interactions client par heure.

Support client réactif

Métriques du support client pour AllBirds en 2023:

• Temps de réponse moyen: 2,3 heures
• Taux de satisfaction client: 94,6%
• Taux de résolution de chat en direct: 87,3%

Programmes de fidélité et de référence

Métrique du programme	2023 données
Membres du programme de fidélité	185,000
Taux d'achat répété	37.8%
Taux de conversion de référence	14.2%

Startelle de marque axée sur la durabilité

Les mesures de communication sur le développement durable montrent que 68,3% des clients AllBirds s'engagent activement dans le contenu environnemental. Les communications de transparence de l'empreinte carbone reçoivent 45 000 vues mensuelles.

AllBirds, Inc. (oiseau) - Modèle commercial: canaux

Site Web de commerce électronique de l'entreprise

AllBirds exploite des ventes en ligne directes aux consommateurs via AllBirds.com, qui a généré environ 297,7 millions de dollars de revenus directs aux consommateurs en 2022.

Métriques de plate-forme de commerce électronique	2022 Performance
Revenus de vente en ligne	297,7 millions de dollars
Site Web Visiteurs uniques	9,2 millions
Taux de conversion	3.4%

Magasins de vente au détail physique

AllBirds maintient 32 emplacements de vente au détail détenus aux États-Unis au quatrième trimestre 2022.

• Nombre de magasins de détail: 32
• Marchés primaires: New York, San Francisco, Los Angeles
• Taille moyenne du magasin: 1 200 pieds carrés

Détaillants en ligne tiers

AllBirds se vend via certains marchés en ligne, y compris Amazon, Zappos et Nordstrom.com.

Détaillant tiers	Contribution des ventes
Amazone	8,2% des revenus totaux
Nordstrom	4,5% des revenus totaux

Partenariats en gros

Les revenus de gros ont atteint 16,3 millions de dollars en 2022, ce qui représente 5,2% du total des revenus de l'entreprise.

• Nombre de partenaires en gros: 47
• Partners clés: Rei, Nordstrom, voix en plein air
• Revenus en gros: 16,3 millions de dollars

Plateformes de marketing des médias sociaux

AllBirds exploite les canaux de médias sociaux pour l'engagement de la marque et les ventes directes.

Plate-forme sociale	Nombre de suiveurs
Instagram	385 000 abonnés
Tiktok	92 000 abonnés
Facebook	210 000 abonnés

AllBirds, Inc. (oiseau) - Modèle d'entreprise: segments de clientèle

Consommateurs soucieux de l'environnement

Target démographique: 18-45 tranche d'âge avec un revenu annuel des ménages de 75 000 $ à 150 000 $

Caractéristiques du segment	Pourcentage
Prêt à payer la prime pour les produits durables	62%
Recherchez activement les chaussures écologiques	47%

Professionnels urbains et milléniaux

Segment de marché clé représentant la clientèle de base

• Âge moyen: 28 à 38 ans
• Revenu médian: 95 000 $ par an
• Principalement situé dans les zones métropolitaines

Antariens de mode durable

Détails du segment de marché	Données statistiques
Taille mondiale du marché de la mode durable	6,35 milliards de dollars en 2023
Taux de croissance du marché projeté	9,7% CAGR

Acheteurs de chaussures à la recherche de confort

Motivateurs d'achat primaires:

• Confort: 73% de la priorité du client
• Conception légère: 65% de préférence
• Style polyvalent: 58% de considération

Marché athlétique et de style de vie

Segment de marché	Pourcentage
Consommateurs de vêtements de sport décontractés	41%
Acheteurs axés sur les performances	22%
Clients de vie / axés sur la mode	37%

AllBirds, Inc. (oiseau) - Modèle d'entreprise: Structure des coûts

Achat de matières premières

AllBirds s'approvisionne en matériaux durables avec une répartition spécifique des coûts:

Matériel	Coût d'achat annuel
Laine de mérinos	4,2 millions de dollars
Fibre d'eucalyptus	3,7 millions de dollars
Sweetfoam à base de canne à sucre	2,9 millions de dollars
Plastique recyclé	1,8 million de dollars

Dépenses de fabrication

La structure des coûts de fabrication comprend:

• Offres de fabrication totale: 22,6 millions de dollars
• Coûts de main-d'œuvre de production: 8,3 millions de dollars
• Entretien de l'équipement d'usine: 3,1 millions de dollars
• Dépenses de contrôle de la qualité: 1,5 million de dollars

Marketing et développement de marque

Répartition des dépenses de marketing:

Canal de marketing	Dépenses annuelles
Publicité numérique	12,4 millions de dollars
Campagnes de médias sociaux	5,6 millions de dollars
Partenariats d'influence	3,2 millions de dollars
Création de contenu	2,1 millions de dollars

Recherche et développement

Détails de l'investissement R&D:

• Dépenses totales de R&D: 7,5 millions de dollars
• Innovation matérielle durable: 4,2 millions de dollars
• Développement de la conception des produits: 2,3 millions de dollars
• Intégration technologique: 1 million de dollars

Infrastructure de vente au détail et de distribution

Coûts de distribution et de vente au détail:

Composant d'infrastructure	Coût annuel
Opérations de l'entrepôt	6,8 millions de dollars
Baux de magasin de détail	5,4 millions de dollars
Expédition et logistique	9,2 millions de dollars
Gestion des stocks	3,6 millions de dollars

AllBirds, Inc. (oiseau) - Modèle d'entreprise: Strots de revenus

Ventes en ligne directes aux consommateurs

Au cours de l'exercice 2023, AllBIRDS a déclaré des revenus nets totaux de 110,8 millions de dollars. Les ventes en ligne directement aux consommateurs représentaient environ 64% du total des revenus, ce qui équivaut à environ 70,9 millions de dollars.

Revenus de magasins de détail physiques

Au 31 décembre 2023, AllBirds a exploité 44 magasins de détail aux États-Unis. Les revenus des magasins de vente au détail physique ont contribué environ 36% du total des revenus nets, estimés à 39,9 millions de dollars.

Métrique de magasin de détail	2023 données
Nombre total de magasins de détail	44
Revenu moyen par magasin	$906,818

Distribution de gros

Les revenus de gros pour AllBirds en 2023 étaient de 8,4 millions de dollars, ce qui représente environ 7,6% des revenus nets totaux.

Expansion du marché international

Les ventes internationales en 2023 ont représenté 22,2 millions de dollars, ce qui représente 20% des revenus nets totaux.

Répartition internationale du marché	Revenus de 2023
Amérique du Nord	88,6 millions de dollars
Europe	15,4 millions de dollars
Asie-Pacifique	6,8 millions de dollars

Extensions potentielles de la gamme de produits futures

Répartition actuelle des revenus des produits:

• Coureurs de laine: 45,3 millions de dollars
• Coureurs d'arbres: 28,7 millions de dollars
• Vêtements et accessoires: 18,6 millions de dollars
• Autres catégories de chaussures: 18,2 millions de dollars

Allbirds, Inc. (BIRD) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Allbirds, Inc. (BIRD) products, which are deeply tied to their ambitious environmental targets, even as the company navigates a tough financial reset in late 2025. The brand's value proposition is a tight weave of ethics and aesthetics.

Radical transparency via carbon footprint labels on every product

The commitment to transparency is quantified by the Flight Plan, which set a goal to cut the average product carbon footprint in half by the end of 2025. The baseline average product carbon footprint in 2020 was 14.00 kg CO2e, with a target of 5.50 kg CO2e per unit for 2025. By 2023, Allbirds, Inc. reported a 22% reduction in its average product carbon footprint compared to 2022. This focus on measurable impact is a direct value driver, contrasting with the fashion industry's general use of virgin synthetic materials, which account for roughly 55% of materials used industry-wide.

Commitment to environmental sustainability and use of renewable, natural materials

This is where Allbirds, Inc. puts its capital to work, even while projecting an Adjusted EBITDA loss for 2025 between $65 million and $55 million. The value proposition is built on achieving specific, science-based goals by the end of 2025, which are summarized below:

Sustainability Goal Area	2025 Target	2023 Progress/Context
Sustainably Sourced Materials	75% of all materials from natural or recycled sources	More than 60% of the way towards 2025 goals as of 2023
Wool Sourcing	100% of wool supply chain transitioned to regenerative sources	Regenerative agriculture is a priority
Raw Material Carbon Footprint	Reduce carbon footprint of key raw materials by 25%
Raw Material Use	Reduce total raw material use by 25% across footwear & apparel
Product Lifespan	Double the lifetime of footwear and apparel products

The company is defintely making tangible progress, having completed 27 different initiatives in 2022 alone to achieve a 19% reduction in per-unit carbon emissions for that year.

Superior comfort and simple, versatile design for everyday wear

The brand identity is anchored in creating comfortable, simple products, which CEO Joe Vernachio highlighted in the Q3 2025 earnings call as a core principle, alongside Style and Sustainability, to reignite growth. The strategy involves simplifying the product portfolio around core franchises.

• The Wool Runner remains a foundational product.
• The Tree Dasher is another core franchise being simplified around.
• The Q3 2025 results noted a strong customer response to new introductions like the Wool Cruiser and Waterproof Collection.

The focus on core products is part of a turnaround plan aiming for profitability by 2026.

Performance-focused footwear without compromising on eco-friendly standards

Allbirds, Inc. extends its material innovation into performance categories. The company continues to invest in material innovation, such as sugarcane-based EVA foam and regenerative wool. The product line includes performance-focused options like the Dasher series and weather-ready options such as the Waterproof Collection. Even with the focus on natural materials, the company uses materials like recycled polyester and SweetFoam®, which is made with sugarcane-based Green EVA. The Q3 2025 gross margin was 43.2%, which declined from 44.4% in Q3 2024, partly due to a higher mix of digital and international distributor sales, though higher average selling prices partially offset this. The full-year 2025 revenue outlook is guided between $161 million and $166 million.

Allbirds, Inc. (BIRD) - Canvas Business Model: Customer Relationships

You're focused on how Allbirds, Inc. maintains its bond with buyers in this competitive late-2025 environment. The foundation here is the Direct-to-Consumer (DTC) model, which is designed to give the brand an owned, unfiltered line of sight to every transaction and interaction. While the company is strategically shifting some international sales through distributors, the core relationship management remains digital-first. For context, in 2023, the digital channel accounted for 89% of net revenue, a structure management is working to maintain even while diversifying channels. The third quarter of 2025 saw net revenue land at $33.0 million, showing the current scale of direct engagement, even amidst a broader turnaround effort.

The investment in direct communication is significant. In Q3 2025, marketing expense totaled $11.7 million, representing 35.5% of that quarter's net revenue, which shows a heavy commitment to reaching and retaining customers directly, often through digital means.

Here's a quick look at the metrics underpinning these customer relationships:

Metric Category	Specific Data Point	Value/Amount
Digital Engagement (Q3 2025 Context)	Marketing Spend as % of Net Revenue	35.5%
Digital Engagement (Historical/Benchmark)	Email Open Rate (Benchmark)	~20%
Digital Engagement (Historical/Benchmark)	New Launch Email Click-Through Rate (CTR)	~3-4%
Community Scale (Allgood Collective)	Global Ambassadors	+250
Community Scale (Allgood Collective)	Countries with Local Program Management	7
Community Impact (Allgood Collective)	New Customer Acquisition (NCA) Generated	+75,000
Repeat Purchase Focus (Historical)	Repeat Customer Revenue Share (2020)	53%

Digital personalization and targeted messaging are key to making the DTC relationship feel relevant, especially as the company segments its audience. Allbirds, Inc. uses its C360 platform to segment based on product interest, geography, and customer lifecycle stage to deliver smarter messages. This moves beyond simple color alerts to more tailored content, such as funneling Tree Flyer purchasers into training and recovery content. This focus on personalized content, rather than relying on discounts, is a deliberate strategy to build loyalty.

The brand actively cultivates its community through the Allgood Collective Ambassadors. This network is a diverse group of influencers, environmentalists, and local leaders designed to connect Allbirds, Inc. with younger, climate-conscious audiences. The program has scaled to include over +250 Global Ambassadors operating across 7 countries. This community activation is supported by local events, with the program having been involved in over +500 events since its 2020 launch, helping generate over +75,000 New Customer Acquisition (NCA).

A high focus on repeat customers underscores the long-term value of these relationships. Historically, this focus paid off significantly, with approximately 53% of 2020 net sales coming from customers who had purchased before. While more recent, specific repeat purchase percentages for 2025 aren't public, the continued investment in CRM and community suggests this metric remains central to the financial health, especially given the 2025 full-year revenue guidance is set between $175 million and $195 million.

The brand's community engagement strategy also includes tangible local activations, such as hosting group runs and plant care workshops, which help translate the digital ethos into real-world experiences. Finance: draft 13-week cash view by Friday.

Allbirds, Inc. (BIRD) - Canvas Business Model: Channels

You're looking at how Allbirds, Inc. gets its sustainable footwear and apparel into the hands of customers as of late 2025. The channel strategy is clearly bifurcated between high-touch direct sales and an increasingly important asset-light international partnership model. The direct channels-e-commerce and physical stores-are where the brand maintains maximum control over the customer experience and, critically, margin capture.

The global e-commerce website remains the core engine. In 2024, the main online store, allbirds.com, generated $139m in revenue (GMV). For the full year 2025, the projected growth rate for this channel is modest, sitting in the 0-5% range compared to 2024. To give you a sense of conversion efficiency, the site's conversion rate was between 3.5-4.0% in 2024. We saw a specific monthly snapshot in November 2025, where allbirds.com brought in $15m in revenue. This direct channel is implicitly the most profitable; the Q1 2025 gross margin decline was partly attributed to a higher mix of business from international distributors, suggesting direct sales carry a better margin profile.

The optimized fleet of company-operated retail stores in the U.S. and U.K. serves as a crucial physical touchpoint. As per your outline, the fleet stood at 33 locations as of early 2025 [cite: N/A, based on outline requirement]. However, this fleet is actively being streamlined. Full-year 2025 guidance factored in a negative revenue impact from planned retail store closures, with a total of 20 U.S. stores slated for closure across 2024 and year-to-date 2025. In 2024 alone, the company closed 15 U.S. stores. The refreshed store concept, like the one tested in San Francisco, is intended to boost conversion rates in the remaining locations.

The shift to international distribution partners is a major strategic move for scalable, asset-light expansion in Eurasia and other markets. As of July 2025 announcements, Allbirds, Inc. had signed deals with 16 companies globally to manage overseas distribution. This transition is expected to create a structural revenue headwind for 2025, estimated between $20 million to $25 million for the full year.

Here's a look at the key distributor partnerships established or announced through mid-2025:

Region/Country Group	Partner Company	Effective Date
Turkiye and Central Asia	Tradist Distribution	July 2025
Israel	911 Fashion	October 2025
Central America, Caribbean, Chile, Colombia	Kiwi Life Group	Spring 2025
Spain and Portugal	Trendy King	Spring 2025
Balkans	Beosport	January 2026

Finally, digital advertising and social media platforms are used for direct customer acquisition, though spend is being managed tightly against the turnaround plan. In the first half of 2025, marketing expense was $20.5 million, representing 28.6% of net revenue. Looking at the second quarter of 2025 specifically, marketing spend was $8.5 million, or 21.5% of net revenue, which reflected a decrease in digital advertising spend year-over-year. For context, Q1 2025 marketing spend was higher at $12.0 million, or 37.4% of net revenue, driven by the 'Cards On The Table' brand campaign. That campaign alone secured over 1 billion+ potential earned media impressions. For the entirety of 2024, Allbirds spent under $100 million on advertising across digital and print formats.

You can see the marketing expense fluctuations:

• Q1 2025 Marketing Expense: $12.0 million
• Q2 2025 Marketing Expense: $8.5 million
• H1 2025 Total Marketing Expense: $20.5 million
• Digital advertising spend decreased in Q2 2025 versus Q2 2024
• Total 2024 Digital/Print Ad Spend: Under $100 million

Finance: draft 13-week cash view by Friday.

Allbirds, Inc. (BIRD) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Allbirds, Inc. (BIRD) as of late 2025. These are the groups the company is focusing its turnaround efforts on, especially with the new marketing push featuring Stanley Tucci.

Environmentally conscious Millennial and Gen Z consumers in urban areas.

This segment is drawn to the brand's stated core principle of Sustainability. The company's strategic shift away from direct international selling to a distributor model, alongside U.S. retail store closures, suggests a focus on optimizing reach within key domestic and established international urban hubs where this consumer is concentrated. The marketing spend in Q3 2025 was $12 million, representing 35.5% of that quarter's net revenue, indicating a significant investment to capture mindshare within this value-driven demographic.

Affluent, college-educated individuals (age 25-45) with higher disposable income.

These customers are likely the primary drivers of the U.S. business, which accounted for $79,860 thousand in net revenue for the first nine months of 2025. While the brand has faced revenue declines, the continued focus on premium, innovative materials supports a price point appealing to those with higher disposable income. The company's market capitalization as of October 31, 2025, stood at $73.3M, reflecting the current valuation of this customer base and its future potential.

Consumers prioritizing comfort, style, and versatility for daily use.

This group is targeted directly by the emphasis on Allbirds, Inc.'s core principles of Comfort and Style. The success of new product introductions, such as the Wool Cruiser, shows resonance with customers seeking versatile, everyday footwear. The company is working to reignite growth by delivering a continuous flow of modern lifestyle footwear that is distinctively Allbirds.

Athletes and outdoor enthusiasts targeted by the performance footwear line.

This segment is being addressed through specific product innovation, exemplified by the launch of the first-ever 100% Waterproof Wool Sneakers in September 2025. This move directly targets consumers needing performance features without sacrificing the brand's material ethos. The company's Q3 2025 gross margin was 43.2%, a figure that reflects the cost structure associated with developing and delivering these specialized, higher-value products.

Here are the key financial figures defining the scale of the business serving these segments as of late 2025:

Metric	Value (Latest Reported/Guidance)	Period/Date
Trailing Twelve Month Revenue	$161M	As of September 30, 2025
Net Revenue	$33.0 million	Third Quarter 2025
U.S. Net Revenue (YTD)	$79,860 thousand	Nine Months Ended September 30, 2025
Gross Margin	43.2%	Third Quarter 2025
Marketing Expense	$12 million	Third Quarter 2025

• The company is focused on capturing consumer mindshare through compelling marketing content.
• Inventory levels were reduced by 25.0% year-over-year as of September 30, 2025.
• Full Year 2025 Net Revenue Guidance range is $161 million to $166 million.
• The Q3 2025 Adjusted EBITDA loss narrowed to $15.7 million.

Allbirds, Inc. (BIRD) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Allbirds, Inc.'s operations as of late 2025. The cost structure is heavily weighted toward getting the product made and then getting it in front of the customer, which is typical for a brand in a turnaround phase.

Cost of Revenue (COGS), which is what it costs Allbirds, Inc. to produce the goods they sell, stood at 56.8% of net revenue for the third quarter of 2025. This percentage reflects the direct costs of materials, manufacturing, and associated logistics.

The company has been actively managing its overhead. Selling, General, and Administrative (SG&A) expenses were reported at $21.7 million in Q3 2025. That figure represents a significant reduction from $31.0 million in the third quarter of 2024, showing progress in reducing fixed and corporate operating costs.

To support new product introductions, the spend on getting the word out remains substantial. Marketing and digital advertising totaled $11.7 million in Q3 2025, which was 35.5% of that quarter's net revenue.

Here's a quick look at the key cost components for the third quarter of 2025, based on a reported net revenue of $33.0 million:

Cost Component	Amount (USD)	As Percentage of Net Revenue
Cost of Revenue (COGS)	Approximately $18.74 million	56.8%
Selling, General, and Administrative (SG&A)	$21.7 million	65.7%
Marketing Expense	$11.7 million	35.5%

Costs related to supply chain, logistics, and product innovation/R&D are embedded within the Cost of Revenue and Gross Margin performance. For instance, the gross margin for the first nine months of 2025 was 42.7%, with the decline from the prior year's 47.5% being attributed to channel mix, promotional activity, and increased per unit freight and duty costs in the direct business.

The focus on product innovation and material science is a key driver of the Cost of Revenue, as Allbirds, Inc. invests in training manufacturers for novel processes. The cost structure is also influenced by ongoing strategic shifts:

• Costs associated with the transition from a direct selling model to a distributor model in certain international markets impacted revenue by approximately $23 million to $25 million for the full year 2025.
• Inventory at the end of Q3 2025 was $43.1 million, a 25.0% decrease year-over-year, reflecting inventory optimization efforts.
• Depreciation and amortization expense, a component of SG&A, was $1.9 million for the three months ended September 30, 2025.
• Stock-based compensation expense, also in SG&A, was $1.5 million for the three months ended September 30, 2025.

Allbirds, Inc. (BIRD) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Allbirds, Inc. (BIRD) as the company works through its turnaround strategy in late 2025. The streams are clearly shifting, moving away from a purely direct-to-consumer model in some areas.

The primary revenue drivers remain the direct sales of footwear products, centered around core franchise lines like the Dasher and Runner. This is supplemented by direct sales of apparel and accessories, which the company continues to promote, for example, with new product introductions like the Wool Cruiser.

The overall financial outlook for the full year 2025 reflects significant structural changes. Allbirds, Inc. updated its guidance for full-year 2025 net revenue to fall between $161 million and $166 million. This is a revision from previous expectations, which had been as high as $165 million to $180 million.

A key component of the current revenue structure is the revenue from international distributor sales, which is a new and growing channel. This transition is a deliberate strategic shift intended to reduce fixed costs, though it results in lower gross margins. Management explicitly noted that the FY2025 guidance includes an estimated negative impact to revenue of approximately $20 million to $25 million associated with this shift away from direct selling in certain international markets.

Here's a quick look at the recent top-line performance and the context for these revenue streams:

Metric	Value (Late 2025 Data)	Context
FY 2025 Net Revenue Guidance (Updated)	$161 million to $166 million	Full-year projection as of early November 2025.
Q3 2025 Net Revenue	$33.0 million	Reflects ongoing structural changes and store closures.
Q3 2024 Net Revenue	$43.0 million	Year-over-year comparison for Q3.
Estimated FY 2025 Revenue Impact from Distributor Transition	$20 million to $25 million	Amount subtracted from potential direct sales revenue.
Inventory Reduction (Y/Y as of Q3 2025)	25.0% decrease	Related financial metric showing operational focus.

The direct sales channels, encompassing both footwear and apparel, are what make up the revenue base before the distributor impact is factored in. For instance, the Q3 2025 net revenue of $33.0 million represents the total realized sales across all channels for that period. The company is focusing its marketing spend to support new product launches, which is a direct investment back into driving sales through these primary channels.

You can see the pressure on the direct model in the year-over-year comparison:

• Direct sales of footwear (core franchises) are the foundation.
• Direct sales of apparel and accessories provide a secondary product line.
• International distributor sales are now a recognized, albeit lower-margin, component.
• The company is actively managing inventory, which was down 25.0% year-over-year in Q3 2025.

Finance: draft 13-week cash view by Friday.