Allbirds IPO: investors warned off profit expectations

Allbirds IPO: investors warned off profit expectations
The wool shoe company launched its first shoe in 2016. (Image: Supplied)
Rebecca Howard
Allbirds, which launched its first shoe in 2016, has filed a prospectus to join the Nasdaq but warned would-be investors it doesn’t expect to report a profit any time soon.The New Zealand-born, San Francisco-based shoe brand said net revenue grew from US$126 million in 2018 to US$219.3m in 2020, in the filing with the US Securities and Exchange Commission. However, it generated net losses of US$14.5m in 2019 and US$25.9m in 2020 and said it expected to continue to incur significant losses in the future.It also noted that even if it a...

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