Smartbird (BIRD)


Market Price (11/6/2026): $1.395 | Market Cap: $16.5 MilSector: Information Technology | Industry: Systems Software

Smartbird (BIRD)


Market Price (11/6/2026): $1.395
Market Cap: $16.5 Mil
Sector: Information Technology
Industry: Systems Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -197%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -67%

Megatrend and thematic drivers
Megatrends include Sustainable Consumption, and E-commerce & Digital Retail. Themes include Eco-friendly Products, Circular Fashion, Show more.

Weak multi-year price returns
2Y Excs Rtn is -121%, 3Y Excs Rtn is -175%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -66 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -63%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -19%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -27%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -39%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -44%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -652%

High stock price volatility
Vol 12M is 593%

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -197%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -67%
2 Megatrend and thematic drivers
Megatrends include Sustainable Consumption, and E-commerce & Digital Retail. Themes include Eco-friendly Products, Circular Fashion, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -121%, 3Y Excs Rtn is -175%
4 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -66 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -63%
6 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -19%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -27%
7 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -39%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -44%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -652%
9 High stock price volatility
Vol 12M is 593%

BIRD in ETFs

Weight = BIRD's share of each fund

VTI0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/5/2026

Smartbird (BIRD) stock has lost about 35% since 7/31/2026 because of the following key factors:

1. Challenges in Executing the AI Pivot and Limited Revenue Generation.

Smartbird's strategic pivot to an AI infrastructure provider, initiated with the sale of its footwear assets for approximately $39 million and a rebrand in June 2026, has been accompanied by a lack of substantial revenue growth in its new core business. As of fiscal H1 2026 (which includes fiscal Q1 and Q2 2026), the company generated only $2.76 million in revenue, while incurring net losses of approximately $16-21 million per quarter. The shift, while aiming for a high-growth sector, presented the company with "zero AI employees" as of June 2026, highlighting the very early and unproven stage of its operational capabilities in the new domain.

2. Significant Revenue Miss in Fiscal Q2 2026 Earnings Report.

The company reported its fiscal Q2 2026 earnings around August 19, 2026, within the specified period, revealing a substantial miss in revenue expectations. Smartbird's reported revenue for fiscal Q2 2026 was $19.15 million, falling short of the consensus estimate of $29.50 million by 35.08%. This considerable underperformance indicates ongoing challenges, potentially from the winding down of the legacy footwear business or the nascent AI operations failing to compensate, contributing to investor apprehension.

Show more
Updated on 11/5/2026

Smartbird (BIRD) stock has lost about 35% since 7/31/2026 because of the following key factors:

1. Challenges in Executing the AI Pivot and Limited Revenue Generation.

Smartbird's strategic pivot to an AI infrastructure provider, initiated with the sale of its footwear assets for approximately $39 million and a rebrand in June 2026, has been accompanied by a lack of substantial revenue growth in its new core business. As of fiscal H1 2026 (which includes fiscal Q1 and Q2 2026), the company generated only $2.76 million in revenue, while incurring net losses of approximately $16-21 million per quarter. The shift, while aiming for a high-growth sector, presented the company with "zero AI employees" as of June 2026, highlighting the very early and unproven stage of its operational capabilities in the new domain.

2. Significant Revenue Miss in Fiscal Q2 2026 Earnings Report.

The company reported its fiscal Q2 2026 earnings around August 19, 2026, within the specified period, revealing a substantial miss in revenue expectations. Smartbird's reported revenue for fiscal Q2 2026 was $19.15 million, falling short of the consensus estimate of $29.50 million by 35.08%. This considerable underperformance indicates ongoing challenges, potentially from the winding down of the legacy footwear business or the nascent AI operations failing to compensate, contributing to investor apprehension.

3. High Uncertainty and Speculative Nature of the Unproven AI Business Model.

Despite the initial market enthusiasm around the AI pivot, reflected in a +33.72% stock surge on October 1, 2026, the long-term viability and profitability of Smartbird's new AI infrastructure business remain highly uncertain and speculative. The company, now operating with a micro-cap valuation between $15-27 million, has yet to demonstrate consistent, positive financial results in its new sector. Analyst coverage is minimal, with a consensus "Neutral" or "Hold" rating and an average price target of $0.00, underscoring the market's cautious stance and the speculative nature of its future prospects.

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Stock Movement Drivers

Fundamental Drivers

The -33.0% change in BIRD stock from 7/31/2026 to 11/5/2026 was primarily driven by a -31.6% change in the company's P/S Multiple.
(LTM values as of)731202611052026Change
Stock Price ($)1.941.30-33.0%
Change Contribution By: 
Total Revenues ($ Mil)1031062.7%
P/S Multiple0.20.1-31.6%
Shares Outstanding (Mil)99-4.7%
Cumulative Contribution-33.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/5/2026
ReturnCorrelation
BIRD-33.0% 
Market (SPY)-1.9%42.0%
Sector (XLK)-7.4%49.7%

Fundamental Drivers

The -77.1% change in BIRD stock from 4/30/2026 to 11/5/2026 was primarily driven by a -73.3% change in the company's P/S Multiple.
(LTM values as of)430202611052026Change
Stock Price ($)5.681.30-77.1%
Change Contribution By: 
Total Revenues ($ Mil)113106-6.2%
P/S Multiple0.40.1-73.3%
Shares Outstanding (Mil)89-8.8%
Cumulative Contribution-77.1%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/5/2026
ReturnCorrelation
BIRD-77.1% 
Market (SPY)2.3%26.3%
Sector (XLK)1.9%34.1%

Fundamental Drivers

The -83.5% change in BIRD stock from 10/31/2025 to 11/5/2026 was primarily driven by a -76.8% change in the company's P/S Multiple.
(LTM values as of)1031202511052026Change
Stock Price ($)7.871.30-83.5%
Change Contribution By: 
Total Revenues ($ Mil)131106-19.3%
P/S Multiple0.50.1-76.8%
Shares Outstanding (Mil)89-11.7%
Cumulative Contribution-83.5%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/5/2026
ReturnCorrelation
BIRD-83.5% 
Market (SPY)8.4%9.8%
Sector (XLK)8.4%10.1%

Fundamental Drivers

The -91.4% change in BIRD stock from 10/31/2023 to 11/5/2026 was primarily driven by a -72.2% change in the company's P/S Multiple.
(LTM values as of)1031202311052026Change
Stock Price ($)15.131.30-91.4%
Change Contribution By: 
Total Revenues ($ Mil)282106-62.5%
P/S Multiple0.40.1-72.2%
Shares Outstanding (Mil)89-17.7%
Cumulative Contribution-91.4%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/5/2026
ReturnCorrelation
BIRD-91.4% 
Market (SPY)81.3%11.5%
Sector (XLK)101.5%11.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BIRD Return-48%-84%-49%-72%-41%-64%-100%
Peers Return17%-72%74%59%48%22%66%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
BIRD Win Rate0%25%58%17%33%36% 
Peers Win Rate56%25%69%60%53%42% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
BIRD Max Drawdown--86%-79%-73%-68%-91% 
Peers Max Drawdown-46%-75%-57%-38%-55%-57% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: CRWV, HUT, WULF, RXT, DLR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)

How Low Can It Go

EventBIRDS&P 500
2025 US Tariff Shock
  % Loss-37.3%-18.8%
  % Gain to Breakeven59.6%23.1%
  Time to Breakeven39 days79 days

Compare to CRWV, HUT, WULF, RXT, DLR

In The Past

Smartbird's stock fell -37.3% during the 2025 US Tariff Shock. Such a loss loss requires a 59.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventBIRDS&P 500
2025 US Tariff Shock
  % Loss-37.3%-18.8%
  % Gain to Breakeven59.6%23.1%
  Time to Breakeven39 days79 days

Compare to CRWV, HUT, WULF, RXT, DLR

In The Past

Smartbird's stock fell -37.3% during the 2025 US Tariff Shock. Such a loss loss requires a 59.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Smartbird (BIRD)

Smartbird (symbol: BIRD) is a company focused on designing, manufacturing, and selling a range of footwear and apparel products for both men and women. It operates in the consumer lifestyle goods sector, emphasizing both utility and style in its offerings.

The company's diverse product portfolio includes various types of shoes such as running shoes, everyday sneakers, high-tops, slip-ons, boat shoes, flats, weather-repellent options, and sandals. In addition to footwear, Smartbird provides a selection of apparel items, including activewear, tops, bottoms, dresses, sweaters, underwear, and socks, addressing a broad spectrum of customer wardrobe needs.

Smartbird distributes its products through a combination of its own physical retail stores, located both in the United States and internationally, as well as through its online platform. Incorporated in 2015 and based in San Francisco, California, the company serves a global customer base.

AI Analysis | Feedback

Here are a few analogies for Smartbird (Allbirds):

  • The Patagonia of everyday shoes and apparel.
  • Warby Parker for comfortable, sustainable footwear.

AI Analysis | Feedback

  • Footwear: The company offers a wide range of shoes including running shoes, everyday sneakers, high-tops, slip-ons, boat shoes, flats, weather repellent shoes, and sandals.
  • Apparel: They provide various clothing items such as activewear, tops, bottoms, dresses, sweaters, underwear, and socks for men and women.

AI Analysis | Feedback

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The company described, Allbirds, Inc., sells its footwear and apparel products primarily to individuals rather than other businesses. Its major customer categories include:

  1. Environmentally Conscious Consumers: Individuals who prioritize sustainability, natural materials (like merino wool, eucalyptus, and sugarcane), and eco-friendly production methods when making purchasing decisions for footwear and apparel.
  2. Comfort and Everyday Style Seekers: Customers who value exceptional comfort, versatile designs, and a minimalist aesthetic for their daily wear, casual outings, and travel.
  3. Modern, Casual Lifestyle Adherents: Often urban professionals and individuals in relaxed work environments who appreciate understated, high-quality products that blend well with an active, contemporary, and casual lifestyle.
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  • Braskem S.A. (Symbol: BRKM)

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Smartbird (symbol: BIRD) Management Team:

Nadia Carlsten, President, Chief Executive Officer, Director

Dr. Carlsten brings over 20 years of leadership experience spanning AI, advanced computing, cloud infrastructure, and emerging technologies. Prior to joining Smartbird, she served as CEO of the Danish Centre for AI Innovation (DCAI), where she led the launch of Denmark's national AI supercomputer in partnership with NVIDIA. She also held leadership roles at SandboxAQ, a Google spin-off, where she led the product portfolio across AI, security, and hardware platforms, and at Amazon Web Services (AWS), where she led product initiatives for quantum computing and advanced infrastructure platforms, and launched Amazon's quantum computing service. Earlier in her career, she was Chief Innovation Strategist at the U.S. Department of Energy and Director of Commercialization at the U.S. Department of Homeland Security. Dr. Carlsten holds a Ph.D. in Engineering from the University of California, Berkeley, and dual bachelor's degrees in Chemistry and Physics from the University of Virginia.

Annie Mitchell, Chief Financial Officer

Ms. Mitchell has over 25 years of executive and senior leadership experience in finance, data, analytics, planning, business development, and transformation for global organizations. She has served as the Company's Chief Financial Officer since April 2023, and will continue in this role for Smartbird. Prior to joining Allbirds, Inc. in 2023, she was a senior member of the leadership team at Gymshark, where she led financial strategy for the North American region. Ms. Mitchell also spent 10 years at Adidas, serving in various senior finance roles, including Senior Vice President of Finance and CFO of Adidas North America.

AI Analysis | Feedback

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AI Analysis | Feedback

The clear emerging threat for Smartbird (Allbirds, Inc.) is the rise of hyper-efficient, AI-driven ultra-fast fashion and apparel companies. These new competitors leverage sophisticated algorithms, agile supply chains, and on-demand manufacturing to rapidly bring thousands of new, trend-driven products to market at significantly lower price points and with vastly greater variety than traditional apparel and footwear brands. This model fundamentally shifts consumer expectations regarding speed, affordability, and breadth of selection, directly challenging Allbirds' emphasis on thoughtfully designed products, sustainable materials, and a more deliberate production cycle.

AI Analysis | Feedback

For Smartbird (symbol: BIRD), the addressable market for its main products and services, as an AI infrastructure provider, is significant and rapidly growing. The company has pivoted from manufacturing footwear and apparel to becoming an AI infrastructure provider.

The global AI infrastructure market was valued at approximately USD 58.78 billion in 2025. This market is projected to reach USD 758 billion by 2029.

Focusing on the United States, the U.S. AI infrastructure market accounted for approximately 76% of the total global spending in the second quarter of 2025. Specifically, within the North American market's USD 21.85 billion in 2025, the U.S. contributed USD 20.16 billion. The U.S. market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 40.5% over the next five years from 2025.

AI Analysis | Feedback

The public company Smartbird (symbol: BIRD), formerly known as Allbirds, has undergone a significant strategic pivot, divesting its footwear assets to become an AI infrastructure provider. Consequently, the drivers of future revenue growth for Smartbird over the next 2-3 years are now centered on its new business model:
  1. Provision of AI Compute Infrastructure (GPU-as-a-Service): Smartbird's primary revenue driver will be the acquisition and provision of high-performance, low-latency AI compute hardware, offered through long-term lease arrangements. This addresses a critical need for enterprises, AI developers, and research organizations seeking dedicated computing resources.
  2. Capitalizing on the Demand-Supply Imbalance in AI Infrastructure: The company aims to leverage the current market's significant shortage of enterprise-grade AI compute capacity. By filling this unmet demand, Smartbird can secure new customers who cannot reliably obtain necessary resources from spot markets or large cloud providers, thereby driving revenue growth.
  3. Strategic Evolution to a Fully Integrated GPUaaS and AI-native Cloud Solutions Provider: Beyond initial hardware leasing, Smartbird's long-term vision includes becoming a fully integrated GPU-as-a-Service (GPUaaS) and AI-native cloud solutions provider. This expanded offering could diversify revenue streams and broaden its addressable market in the evolving AI landscape.
  4. Effective Management of Capital and Strategic Partnerships: The company has secured $50 million in new financing to support its transition to an AI business. The efficient deployment of this capital for acquiring essential hardware and establishing strategic partnerships will be crucial for scaling operations and generating revenue in the competitive AI infrastructure market.
  5. New Leadership and Expertise in AI: The appointment of Nadia Carlsten, with her background in quantum computing and AI, as the new CEO signals a strong focus on leadership and expertise in the AI domain. This specialized leadership is expected to accelerate innovation, guide market penetration, and drive the company's strategic initiatives in the AI sector.

AI Analysis | Feedback

Share Repurchases

Allbirds, Inc. did not report significant share repurchase programs within the 2021-2025 period. However, the company executed a 1-for-20 reverse stock split in August 2024 to maintain compliance with Nasdaq listing rules, which reduced the number of outstanding shares.

Share Issuance

  • Allbirds, Inc. completed its Initial Public Offering (IPO) on November 3, 2021, raising $302.88 million by issuing 20,192,307 shares at $15 per share.
  • The company's 2021 Employee Stock Purchase Plan (ESPP) was approved in September 2021 and became effective with the IPO, authorizing the issuance of Class A common stock to employees. As of December 31, 2024, 316,554 shares were reserved for future issuance under this plan.
  • Allbirds reported an issuance of capital stock amounting to $1.7 million in 2024.

Outbound Investments

  • On November 20, 2020, Allbirds made a minority equity investment of $2.0 million in Natural Fiber Welding, Inc.
  • On November 22, 2021, the company invested $0.3 million in NoHo ESG, Inc. This investment resulted in a realized loss of $0.1 million in 2023 as NoHo ESG, Inc. was dissolved.

Capital Expenditures

  • Allbirds' capital expenditures significantly decreased over the past few years, from $31.4 million in 2022 to $10.9 million in 2023, $4.1 million in 2024, and $3.1 million in 2025.
  • In March 2023, the company initiated a strategic transformation plan that included optimizing its U.S. stores and slowing the pace of new store openings to improve capital efficiency.
  • By early 2026, Allbirds announced plans to close all full-price stores in the United States, maintaining only four locations, indicating a substantial reduction in capital investment related to its physical retail footprint.

Better Bets vs. Smartbird (BIRD)

Peer Outperformance in Systems Software

BIRD has trailed 94% of its 69 Systems Software peers over 5Y. Systems Software ranks 12th of 12 industries in Information Technology by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Systems Software constituents that BIRD has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
16%
of 85 industry peers · -82.1% return
3Y
10%
of 72 industry peers · -92.0% return
5Y
6%
of 69 industry peers · -99.7% return
No Systems Software peer with a comparable growth profile has beaten BIRD by more than 20pp over 5Y.
Median price return by industry across the Information Technology sector, ranked by 5Y. Systems Software is BIRD's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Electronic Manufacturing Services 10 -4.5%87.9%147.0% FLEX 399% · TTMI 335% · JBL 268%
Technology Distributors 9 41.5%40.5%44.9% AVT 115% · SNX 101% · CNXN 68%
Semiconductor Materials & Equipment 28 19.0%38.5%18.3% AXTI 298% · KLAC 227% · LRCX 219%
Communications Equipment 36 -6.2%75.3%17.2% AAOI 700% · LITE 446% · ANET 380%
Electronic Components 24 3.9%54.9%16.5% CLS 1768% · BELFA 923% · APH 268%
Electronic Equipment & Instruments 27 -7.8%26.6%4.8% PI 107% · OSIS 100% · CXT 61%
Semiconductors 55 -6.9%28.4%-15.7% MU 822% · NVDA 513% · AVGO 470%
Technology Hardware, Storage & Peripherals 21 -9.8%50.3%-27.4% WDC 540% · DELL 520% · SMCI 481%
Internet Services & Infrastructure 6 -1.5%35.3%-29.3% GDDY 65% · VRSN 37% · AKAM -27%
IT Consulting & Other Services 30 -22.2%-1.8%-32.0% APLD 222% · IBM 142% · GIB -9%
Application Software 125 -11.5%-10.1%-49.9% PLTR 496% · AGYS 140% · FROG 91%
Systems Software ← 70 -11.3%19.3%-56.2% ZETA 220% · CRWD 218% · CVLT 132%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BIRDCRWVHUTWULFRXTDLRMedian
NameSmartbirdCoreWeaveHut 8 TeraWulf Rackspac.Digital . 
Mkt Price1.4247.1550.0011.312.48175.4029.23
Mkt Cap0.026.06.15.50.665.35.8
Rev LTM1067,5903061652,7027,0961,504
Op Inc LTM-66-231-273-377-881,351-159
FCF LTM-46-13,655-1,406-2,504412,696-726
FCF 3Y Avg-55--760-1,018802,371-55
CFO LTM-426,911-62-2791042,69631
CFO 3Y Avg-51--70-961682,371-51

Growth & Margins

BIRDCRWVHUTWULFRXTDLRMedian
NameSmartbirdCoreWeaveHut 8 TeraWulf Rackspac.Digital . 
Rev Chg LTM-19.3%115.3%71.3%14.6%0.3%20.0%17.3%
Rev Chg 3Y Avg-27.2%-54.7%76.7%-4.2%10.2%10.2%
Rev Chg Q-112.5%-14.9%-6.0%0.6%20.6%0.6%
QoQ Delta Rev Chg LTM2.7%21.9%-3.9%-1.7%0.1%4.8%1.4%
Op Inc Chg LTM10.0%-204.2%-213.7%-210.8%29.0%54.5%-97.1%
Op Inc Chg 3Y Avg14.1%--438.8%-193.8%8.7%26.6%8.7%
Op Mgn LTM-62.6%-3.0%-89.5%-228.2%-3.3%19.0%-32.9%
Op Mgn 3Y Avg-55.7%--51.2%-110.8%-4.4%15.9%-51.2%
QoQ Delta Op Mgn LTM-3.8%-0.4%-33.8%-81.2%-0.3%0.8%-2.1%
CFO/Rev LTM-39.4%91.1%-20.4%-169.0%3.8%38.0%-8.3%
CFO/Rev 3Y Avg-35.9%--35.9%-56.0%6.1%38.4%-35.9%
FCF/Rev LTM-43.7%-179.9%-460.3%-1,515.9%1.5%38.0%-111.8%
FCF/Rev 3Y Avg-39.0%--320.8%-637.5%2.9%38.4%-39.0%

Valuation

BIRDCRWVHUTWULFRXTDLRMedian
NameSmartbirdCoreWeaveHut 8 TeraWulf Rackspac.Digital . 
Mkt Cap0.026.06.15.50.665.35.8
P/S0.13.420.133.30.29.26.3
P/Op Inc-0.2-112.6-22.5-14.6-7.048.3-10.8
P/EBIT-0.2-525.2-12.9-3.2-14.246.3-8.0
P/E-0.2-13.5-11.9-2.8-3.970.5-3.4
P/CFO-0.33.8-98.5-19.76.024.21.7
Total Yield-646.3%-8.0%-9.2%-39.8%-26.7%4.2%-17.9%
Dividend Yield0.0%0.0%0.0%0.0%0.0%2.8%0.0%
FCF Yield 3Y Avg-130.0%--14.9%-18.0%13.9%4.0%-14.9%
D/E1.12.01.21.05.30.31.2
Net D/E-1.81.81.20.55.10.30.8

Returns

BIRDCRWVHUTWULFRXTDLRMedian
NameSmartbirdCoreWeaveHut 8 TeraWulf Rackspac.Digital . 
1M Rtn-55.2%-48.6%-45.8%-24.4%-38.2%-5.0%-42.0%
3M Rtn-32.3%-44.7%-44.8%-35.8%-48.4%-8.3%-40.3%
6M Rtn-73.9%-63.4%-50.6%-52.9%-29.4%-8.7%-51.7%
12M Rtn-80.4%-58.8%6.4%-26.4%60.3%8.3%-10.0%
3Y Rtn-91.3%17.9%375.7%967.0%77.5%48.3%62.9%
1M Excs Rtn-52.0%-45.1%-42.4%-19.8%-33.9%-1.4%-38.2%
3M Excs Rtn-34.8%-47.0%-42.6%-32.8%-48.4%-8.0%-38.7%
6M Excs Rtn-79.1%-68.6%-55.8%-58.3%-34.4%-13.5%-57.0%
12M Excs Rtn-94.8%-73.9%-10.8%-39.8%51.5%-6.4%-25.3%
3Y Excs Rtn-181.6%-72.1%285.1%825.4%16.7%-29.3%-6.3%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment152190254298277
Total152190254298277


Net Income by Segment
$ Mil20252024
Single Segment-77-93
Total-77-93


Price Behavior

Price Behavior
Market Price$1.30 
Market Cap ($ Bil)0.0 
First Trading Date11/03/2021 
Distance from 52W High-91.3% 
   50 Days200 Days
DMA Price$2.43$3.17
DMA Trendupdown
Distance from DMA-46.5%-59.0%
 3M1YR
Volatility113.3%593.2%
Downside Capture464.45408.62
Upside Capture306.70176.78
Correlation (S&P 500)26.5%9.3%
BIRD Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta2.572.032.431.454.242.56
Up Beta-35.70-5.96-2.540.924.331.95
Down Beta0.292.432.150.491.321.71
Up Capture294%232%443%47%253%1459%
Bmk +ve Days12182862130427
Stock +ve Days7203253100346
Down Capture556%313%301%241%183%114%
Bmk -ve Days10253664121325
Stock -ve Days15233272149400

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BIRD
BIRD-81.9%593.2%0.46-
Sector ETF (XLK)11.0%28.3%0.3510.0%
Equity (SPY)9.5%13.6%0.419.8%
Gold (GLD)3.6%28.7%0.11-1.8%
Commodities (DBC)37.7%21.2%1.40-1.1%
Real Estate (VNQ)12.0%14.2%0.55-1.1%
Bitcoin (BTCUSD)-20.8%43.3%-0.424.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BIRD
BIRD-69.7%278.1%0.01-
Sector ETF (XLK)15.9%26.4%0.5513.8%
Equity (SPY)11.3%17.3%0.4814.3%
Gold (GLD)17.5%19.1%0.74-0.8%
Commodities (DBC)8.0%19.6%0.292.0%
Real Estate (VNQ)1.2%18.9%-0.059.9%
Bitcoin (BTCUSD)5.9%51.5%0.297.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BIRD
BIRD-44.9%278.1%0.01-
Sector ETF (XLK)22.4%25.3%0.8113.8%
Equity (SPY)14.9%18.0%0.7014.3%
Gold (GLD)12.0%16.5%0.59-0.8%
Commodities (DBC)7.6%18.1%0.332.0%
Real Estate (VNQ)5.7%20.7%0.239.9%
Bitcoin (BTCUSD)61.3%66.2%1.017.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity1.3 Mil
Short Interest: % Change Since 930202668.9%
Average Daily Volume0.8 Mil
Days-to-Cover Short Interest1.6 days
Basic Shares Quantity9.2 Mil
Short % of Basic Shares14.7%

Earnings Returns History

Updated 8/19/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/6/2025-21.2%-27.2%-34.7%
8/7/2025-29.3%-28.7%-38.1%
5/8/2025-3.0%20.1%86.5%
3/11/2025-13.1%-13.8%-18.7%
11/6/2024-21.7%-25.4%-29.5%
8/7/20242.9%6.1%-12.4%
5/8/2024-3.8%16.0%-13.4%
3/12/2024-19.3%-27.0%-32.6%
...
SUMMARY STATS   
# Positive265
# Negative151112
Median Positive16.3%8.1%11.6%
Median Negative-16.5%-16.6%-28.2%
Max Positive29.7%20.1%86.5%
Max Negative-47.0%-55.1%-48.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/6/2025-21.2%-27.2%-34.7%
8/7/2025-29.3%-28.7%-38.1%
5/8/2025-3.0%20.1%86.5%
3/11/2025-13.1%-13.8%-18.7%
11/6/2024-21.7%-25.4%-29.5%
8/7/20242.9%6.1%-12.4%
5/8/2024-3.8%16.0%-13.4%
3/12/2024-19.3%-27.0%-32.6%
11/8/2023-24.2%-14.5%11.6%
8/8/202329.7%7.0%-1.6%
5/9/2023-8.1%-9.6%0.7%
3/9/2023-47.0%-55.1%-48.7%
11/8/2022-10.4%6.4%2.1%
8/8/2022-19.2%-8.3%-28.4%
5/10/2022-11.7%9.1%14.2%
2/23/2022-0.2%-14.4%-28.1%
11/30/2021-16.5%-16.6%-17.1%
SUMMARY STATS   
# Positive265
# Negative151112
Median Positive16.3%8.1%11.6%
Median Negative-16.5%-16.6%-28.2%
Max Positive29.7%20.1%86.5%
Max Negative-47.0%-55.1%-48.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/19/202610-Q
03/31/202605/15/202610-Q
12/31/202503/31/202610-K
09/30/202511/07/202510-Q
06/30/202508/08/202510-Q
03/31/202505/09/202510-Q
12/31/202403/12/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202303/13/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/10/202310-K
09/30/202211/09/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/19/202610-Q
03/31/202605/15/202610-Q
12/31/202503/31/202610-K
09/30/202511/07/202510-Q
06/30/202508/08/202510-Q
03/31/202505/09/202510-Q
12/31/202403/12/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202303/13/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/10/202310-K
09/30/202211/09/202210-Q
06/30/202208/09/202210-Q
03/31/202205/11/202210-Q
12/31/202103/16/202210-K
09/30/202112/07/202110-Q
06/30/202111/04/2021424B4

Insider Activity

Updated 10/5/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Boyce, Richard W TrustSell92120262.3148,277  Form
2Mitchell, AnnChief Financial OfficerDirectSell92120262.3019,50844,8681,888,564Form
3Mitchell, AnnChief Financial OfficerDirectSell90320262.441,7554,2822,051,120Form
4Boyce, Richard W DirectSell82720262.389,20021,89610,603Form
5Carlsten, Nadia CatherineChief Executive OfficerDirectSell62620264.21117,459494,6325,958,370Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Boyce, Richard W TrustSell92120262.3148,277  Form
2Mitchell, AnnChief Financial OfficerDirectSell92120262.3019,50844,8681,888,564Form
3Mitchell, AnnChief Financial OfficerDirectSell90320262.441,7554,2822,051,120Form
4Boyce, Richard W DirectSell82720262.389,20021,89610,603Form
5Carlsten, Nadia CatherineChief Executive OfficerDirectSell62620264.21117,459494,6325,958,370Form
6Mitchell, AnnChief Financial OfficerDirectSell60320264.521,5877,174344,400Form
7Vernachio, JosephChief Executive OfficerDirectSell60320264.473,35915,007367,298Form
8Vernachio, JosephChief Executive OfficerDirectSell30320262.694,41311,872230,206Form
9Mitchell, AnnChief Financial OfficerDirectSell30320262.702,2005,931202,097Form
10Mitchell, AnnChief Financial OfficerDirectSell120420254.871,8378,948375,903Form
11Vernachio, JosephChief Executive OfficerDirectSell120420254.874,38421,334437,888Form
Core Cache Last Updated: 11/5/2026