Myles Udland and Brian Sozzi discuss Allbirds decision to go public on the NASDAQ after filing for an IPO.

Video Transcript

MYLES UDLAND: All right, let's switch gears and talk about a company set to set to come public over the next couple of months. That's Allbirds. Brian Sozzi, I know you've been waiting eagerly for this S-1 filing to drop. And of course, you spoke to Allbirds CEO earlier this month.

BRIAN SOZZI: Yeah, and we're still digging through this filing. The S-1 just dropped this morning, a little earlier than I thought it was going to drop. Nonetheless, let me just highlight the revenue here. Six months ended June 30. Allbirds put-- had put up about 92-- about 93 million-- 117 million in sales from their business. Now, they have lost-- in terms of net loss, they have lost 21 million. And that is up from 9 and 1/2 million last year.

The company saying that it has 27 retail stores. 89% of its sales come from the online channel. 53% of its customers are repeat. So they-- you know what? This will be an interesting IPO to follow. And as luck would have it, we just talked to Allbirds co-founder Tim Brown about two weeks ago, where he discussed a new product launch, but also the potential for an IPO.

TIM BROWN: We've always imagined that one day, we might be, but no updates there. We're just keeping our heads down at the moment. We've got a fantastic growing team here in San Francisco and similar offices around the world. We're still a very young company. And the big focus, as it has been from day one, has been on innovation.

BRIAN SOZZI: Well, it looks like that decision has been made with the S-1 coming out here, Myles. But they're really playing up their ESG-focused angle to investors here in this S-1, focus on how they're-- focus-- just trying to stress that they make sustainable products. And they will continue to do that moving forward. So definitely not your normal retailer.

MYLES UDLAND: What was the date of that interview? I couldn't-- I can't remember.

BRIAN SOZZI: Uh, about two weeks ago.

MYLES UDLAND: I mean, I'm not in--

BRIAN SOZZI: I'm looking for the story.

MYLES UDLAND: I'm just saying, August 17. All right. So it's exactly two weeks ago. You know, neither of us are in corporate comms. I've never been in corporate comms. I just-- I understand they had a product launch. I understand you want to do media around that product launch. It's just a little strange to come out two weeks before. I mean, the S-1 at that point, when you asked him that question, the S-1 was basically done. So it's just a little strange to come out at that point and be like, you know, no updates. We're just focused on other things. Because that's all you've been doing is the S-1, but whatever. It's fine.

BRIAN SOZZI: There are legal considerations to this, so--

MYLES UDLAND: I know. I mean, I get it.

BRIAN SOZZI: Yeah, he was guarded. He was guarded.

MYLES UDLAND: I mean, I guess, I sort of wonder, could you have waited to launch the apparel till, like, today, and then you just do it in one shot? But now, you're in a blackout period now that, you know, as you get ready for the road show. So it is very complicated. It is just-- it's just awkward, right? Ultimately, it's awkward for him. It's awkward for you. It's awkward for everybody that he had to be like, we're not worried about that. But, you know, hopefully, we'll have him back, and, you know, water under the bridge.

BRIAN SOZZI: You have any of their shoes?

MYLES UDLAND: I don't have any Allbirds. No, I'm a simple guy. I stick to Nike and Adidas. You have Allbirds? I feel like you do.

BRIAN SOZZI: I don't have Allbirds. But I'm open to it. I'm open. When me go back to the office, I need something cool to walk around in.

MYLES UDLAND: The problem is you're wearing a suit. So you're going to look like a goofball if you're wearing Allbirds with a suit. But, you know, that's life.