Allbirds Restructuring Presentation Deck
November 2023
3
Evaluate Transition of International Go-to-Market
Strategy
Strategies
• Transition to a distributor model in
certain international markets
O Increase profitability
O Capture inventory efficiency
O Reduce complexity in our U.S. headquarters
O Drive improvement in working capital
• Leverage the local expertise and
wholesale capabilities of regional
distributors to achieve long term and
scalable growth
O Trade-off between short term growth and
higher quality revenue
O Lower operating expense enables strong
flow through of gross profit to the bottom
line
allbirds
Year-to-date Results
(September 2023)
• Transitions announced through Q3
2023 represent~12% of total net
revenue
O Canada and South Korea
transitioned Q3 '23
O Japan and Australia/New Zealand
under LOI; expected to transition
mid-2024
• Expect to generate contribution
margins north of 20%
• Ongoing discussions with potential
partners in other regions
Key Initiatives
Strategic Transformation Plan
• Stabilize and grow transitioned
regions
• Expand to new geographies via
distributors
Long-Term Goals
• Key regions operating under a
distributor model
• More profitable and scalable
international business
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