Smartbird Inc

smartbird.ai

What Do They Do?

Sells footwear made with natural and recycled materials, plus apparel, to consumers, retailers and distributors.

How Do They Make Money?

The company earns money from sales of shoes and apparel through its own digital and retail channels and through third-party retailers and distributors. Buyers pay at purchase or within the timeframe specified in the sale.

FY2025 revenue

Who Are Their Customers?

The company sells directly through its e-commerce and marketplace sites and stores, while distributors and selected retailers buy products for resale through their own channels.

Do Revenues Turn Into Profits?

No. It lost $77.3M in FY2025.

Operating income, FY2025

−52% of revenue

▼ −18% (Loss) vs FY2024 (−$97.6M, −51%)

Net income, FY2025

−51% of revenue

▼ −17% (Loss) vs FY2024 (−$93.3M, −49%)

Free cash flow, FY2025

−38% of revenue

▼ −14% (Loss) vs FY2024 (−$68M, −36%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: vs $0 in Q2 FY2025
Net income: ▲ +6% (Loss); vs −$15.5M in Q2 FY2025

Jul 29, 2026 Replaced its independent auditor The audit committee dismissed Deloitte and engaged BPM as auditor for fiscal 2026.
Jun 17, 2026 Named a new CEO and announced an AI infrastructure strategy Nadia Carlsten became president and CEO as Smartbird described a managed service for dedicated AI infrastructure.
Jun 15, 2026 Completed sale of footwear business assets The sale closed for $40.7 million in cash.

Shrinking. Revenue fell 45% in 4 years, from $277.5M in FY2021 to $152.5M in FY2025, about 14% a year.

Sales channels The earlier report presents stores alongside digital sales as part of its digitally led retail approach; the latest says it is directing resources toward e-commerce, wholesale partners and international distributors after closing its remaining full-price U.S. stores.

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