ALL BIRDS, INC.

Allbirds, Inc. (BIRD) is a direct-to-consumer footwear and apparel company known for its sustainability-focused materials (merino wool, eucalyptus tree fibre) and simple product ranges. The brand markets comfortable, casual shoes and apparel with an emphasis on low environmental impact and transparent production. Investors should note Allbirds is a small-cap company (market cap ~ $55.6m) and has historically prioritised growth and brand-building over consistent profitability. Key considerations include its DTC and wholesale distribution mix, cost pressures from materials and logistics, heavy competition in the casual footwear market, and the challenge of converting strong brand awareness into reliable margin expansion. The stock may be more volatile than larger peers and is better suited to investors comfortable with growth-stage, small-cap risk. This summary is for general educational purposes only and not personal financial advice; values can fall as well as rise and past performance is no guarantee of future results.