The San Francisco-based footwear brand reported on Tuesday that net revenue increased 16% to $72.7 million over the same time last year, and increased 54% compared to 2020. According to Allbirds, this growth is primarily attributable to a rise in the number of orders, primarily driven by retail sales, and an increase in average order value.
“We delivered a strong quarter in what remains a highly dynamic operating environment. I am proud that we exceeded our Q3 adjusted revenue and adjusted EBITDA guidance targets while also delivering on our sustainability goals,” Joey Zwillinger, co-founder and co-CEO, said in a statement.