Allbirds Files For IPO With Growing Revenue, And Losses

After rumors of an IPO, DTC darling Allbirds has officially filed for one with the Securities and Exchange Commission. The retailer on Tuesday did not specify the number of shares it would offer or the potential share price. Allbirds plans to list its stock on the Nasdaq Stock Market under the ticker “BIRD.” The retailer’s growth plan involves deepening its footwear and apparel assortment to include more casual, performance and outdoor offerings, and expanding its store fleet, among other things. Like others in the DTC space, Allbirds also revealed net losses leading up to its IPO. The brand made $219 million in revenue in 2020, up from $194 million the year prior, but net loss grew during the same timeframe, from $14.5 million in 2019 to $25.9 million in 2020. In the first six months of 2021, the company reported a net loss of $21 million. Read more at Retail Dive.