A woman walks past an Allbirds store in the Georgetown neighborhood of Washington, D.C., on Tuesday, Feb. 16, 2021.
Al Drago | Bloomberg | Getty Images
Allbirds said Tuesday that its third-quarter revenue rose 33% from last year, while its losses widened as the cost of opening stores and listing its stock weighed on its results.
Allbirds shares fell around 6% in extended trading on the report, which was its first as a public company. While its sales climbed significantly, investors didn’t like to see continued losses.
For the three months ended Sept. 30, net losses widened to $13.8 million, or 25 cents per share, from a loss of $7 million, or 13 cents a share, a year earlier.