Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Smartbird, Inc.BIRD · business equipment | |
|---|---|
| Grade |  Eweakest fifth of 497 graded peers; percentile 88.9, sampling error 2.2 points; lower is stronger |
| Rank | 442 of 497 |
| Profitability | Bpercentile 36.0 |
| Solvency | Dpercentile 68.0 |
| Growth and financing | Epercentile 95.8 |
| Reliability | 0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025 |
| Peer failure rate | 1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $12.5M to $120M assetstotal assets $109.4M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | late filer · fortress balance sheetnot computable: dilution, distress |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Mar 31, 2026192 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $2.882026-10-08; market equity $0; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Mar 31, 2026; the document on sec.gov.
Allbirds is a global lifestyle brand that innovates with naturally derived materials to make better footwear and apparel products in a better way, while treading lighter on our planet. We began our journey in 2015 with three fundamental beliefs about the emerging generation of consumers: first, these consumers recognize that climate change is an existential threat to the human race; second, these consumers connect their purchase decisions with their impact on the planet, demanding more from businesses; and third, these consumers do not want to compromise between looking good, feeling good, and doing good.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 36.0 | |||||||
| Gross profitability | 57.2% | [1,5] | 28.5% | 10.6 | 558 | 2025-12-31 | |
| Return on invested capital | not computable | 10.9% | |||||
| a prior annual debt, equity, and cash observation is required | |||||||
| Accruals ratio | (14.9%) | [1,6-8] | (7.4%) | 28.4 | 621 | 2025-12-31 | |
| Gross margin stability, five years | 4.4 pts | [2,5,9-16] | 2.4 pts | 69.2 | 429 | 2025-12-31 | |
| Solvency, sleeve percentile 68.0 | |||||||
| Twelve-month failure probability | not computable | 0.05% | |||||
| liabilities and a nearby cover-page share count are required at 2026-06-30 | |||||||
| Altman Z double-prime | (18.65) | [1,17-22] | 2.18 | 87.1 | 566 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 1.11x | |||||
| EBITDA must exceed $100,000 | |||||||
| Interest coverage | not computable | 3.77x | |||||
| latest aligned inputs end 2021-12-31; latest annual assets end 2025-12-31 | |||||||
| Current ratio | 2.02x | [17-18] | 2.02x | 48.9 | 666 | 2025-12-31 | |
| Growth and financing, sleeve percentile 95.8 | |||||||
| Revenue growth, three-year compound | (20.0%) | [2,10,12,14] | 6.4% | 93.3 | 538 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 17.2% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 14.3% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Asset growth, three years | (38.1%) | [1,8,23-24] | 5.0% | 98.2 | 563 | 2025-12-31 | |
| Net share issuance, one year | not computable | 0.5% | |||||
| two annual share counts are required; found 0 | |||||||
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.344; sampling error 2.2 percentile points on 497 peers.
Among 497 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 437 | Birchtech Corp. (BCHT) Birchtech Corp. (BCHT) Eweakest fifth; percentile 87.9 NYSE · Measuring & Controlling Devices, NEC market equity $37.9M; last close $1.48 No active warnings; 7 of 14 inputs | 87.9 | E | |
| 438 | SemiLEDs Corp. (LEDS) SemiLEDs Corp. (LEDS) Eweakest fifth; percentile 88.1 Nasdaq · Semiconductors & Related Devices market equity $18.9M; last close $2.34 Warnings: fortress balance sheet; 8 of 14 inputs | 88.1 | E | fortress balance sheet |
| 439 | Fortive Corp. (FTV) Fortive Corp. (FTV) Eweakest fifth; percentile 88.3 NYSE · Industrial Instruments For Measurement, Display, and Control market equity $17.2B; last close $56.43 No active warnings; 12 of 14 inputs | 88.3 | E | |
| 440 | BigBear.ai Holdings, Inc. (BBAI) BigBear.ai Holdings, Inc. (BBAI) Eweakest fifth; percentile 88.6 NYSE · Services-Prepackaged Software last close $2.41 Warnings: late filer; 7 of 14 inputs | 88.6 | E | late filer |
| 441 | BigBear.ai Holdings, Inc. (BBAI-WT) BigBear.ai Holdings, Inc. (BBAI-WT) Eweakest fifth; percentile 88.6 NYSE · Services-Prepackaged Software Warnings: late filer; 7 of 14 inputs | 88.6 | E | late filer |
| 442 | Smartbird, Inc. (BIRD) Smartbird, Inc. (BIRD) Eweakest fifth; percentile 88.9 Nasdaq · Services-Computer Processing & Data Preparation last close $2.88 Warnings: late filer, fortress balance sheet; 7 of 14 inputs | 88.9 | E | late filer, fortress balance sheet |
| 443 | Sypris Solutions Inc. (SYPR) Sypris Solutions Inc. (SYPR) Eweakest fifth; percentile 89.1 Nasdaq · Industrial Instruments For Measurement, Display, and Control market equity $43.5M; last close $1.89 Warnings: fortress balance sheet; 8 of 14 inputs | 89.1 | E | fortress balance sheet |
| 444 | Super League Enterprise, Inc. (SLE) Super League Enterprise, Inc. (SLE) Eweakest fifth; percentile 89.3 Nasdaq · Services-Computer Integrated Systems Design market equity $8.1M; last close $4.75 Warnings: short runway, distress; 7 of 14 inputs | 89.3 | E | short runway, distress |
| 445 | Motorsport Games Inc. (MSGM) Motorsport Games Inc. (MSGM) Eweakest fifth; percentile 89.5 Nasdaq · Services-Prepackaged Software last close $5.29 No active warnings; 7 of 14 inputs | 89.5 | E | |
| 446 | 8X8 Inc. (EGHT) 8X8 Inc. (EGHT) Eweakest fifth; percentile 89.7 Nasdaq · Services-Computer Processing & Data Preparation market equity $312.0M; last close $2.15 No active warnings; 11 of 14 inputs | 89.7 | E | |
| 447 | Senseonics Holdings, Inc. (SENS) Senseonics Holdings, Inc. (SENS) Eweakest fifth; percentile 89.9 Nasdaq · Industrial Instruments For Measurement, Display, and Control market equity $476.9M; last close $9.02 Warnings: dilution, short runway, fortress balance sheet; 9 of 14 inputs | 89.9 | E | dilution, short runway, fortress balance sheet |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | E | 89.5 | 2204 |
| sector peers, equal sleeves (the grade) | E | 88.9 | 497 |
| same exchange, equal sleeves | E | 89.7 | 1219 |
| sector peers, equal inputs | E | 83.5 | 497 |
Each letter is one fifth of the 497 graded peers, about 99 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (50.5%) | 2.2% | 12 | hotter than 12 of 100 peers |
| Distance from 52-week high | (83.0%) | (30.0%) | 6 | closer to its high than 6 of 100 peers |
| EBIT to enterprise value | not computable | 1.5% | required accounting or market input is missing | |
| Free cash flow yield | not computable | 2.7% | required accounting or market input is missing | |
| Book value to price | not computable | 0.23 | required accounting or market input is missing | |
| Sales to price | not computable | 0.30 | required accounting or market input is missing | |
| Composite equity issuance, five years | not computable | 3.9% | required accounting or market input is missing | |
| Relative strength against the sector, log excess return | (0.99) | (0.26) | 12 | ahead of 12 of 100 peers |
Inputs: EBIT -$80.0M; free cash flow -$58.2M; book equity $22.5M; sales $152.5M; debt $17.4M; cash $37.4M[25].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (40.9%) | ✗ fail[6,8] |
| Operating cash flow above zero | -$55.1M | ✗ fail[7] |
| Return on assets improved | (11.1 pts) | ✗ fail[6,8,23,26] |
| Operating cash flow exceeds net income | $22.2M | ✓ pass[6-7] |
| Long-term leverage fell | n/a[1,4,8,23] | |
| Current ratio improved | (92.2 pts) | ✗ fail[17-18,27-28] |
| No new shares issued | n/a | |
| Gross margin improved | (1.7 pts) | ✗ fail[2,5,9-10] |
| Asset turnover improved | 20.0 pts | ✓ pass[2,8,10,23] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $37.4M[29] |
| Operating cash flow, four quarters | -$25.8M[7,29-33] |
| Months of runway | 17.4 |
| Late filings, two years | 1 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 51 |
| 10-Q received Aug 19, 2026 | |
| Median daily dollar volume | $778,681 |
| 63 sessions | |
| Days since newest grade input | 192 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $109.4M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $152.5M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $26.7M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 4 | total debt | us-gaap:LongTermDebt | $17.4M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 5 | gross profit | us-gaap:GrossProfit | $62.6M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 6 | net income | us-gaap:NetIncomeLoss | -$77.3M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 7 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$55.1M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 8 | assets | us-gaap:Assets | $188.9M | 2024-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $81.1M | 2024-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $189.8M | 2024-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $104.2M | 2023-12-31 | 2025-03-12 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $254.1M | 2023-12-31 | 2025-03-12 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $129.6M | 2022-12-31 | 2024-03-13 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $297.8M | 2022-12-31 | 2024-03-13 | 10-K | filing · viewer · series |
| 15 | gross profit | us-gaap:GrossProfit | $146.7M | 2021-12-31 | 2023-03-10 | 10-K | filing · viewer · series |
| 16 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $277.5M | 2021-12-31 | 2023-03-10 | 10-K | filing · viewer · series |
| 17 | current assets | us-gaap:AssetsCurrent | $82.1M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 18 | current liabilities | us-gaap:LiabilitiesCurrent | $40.6M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 19 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$561.8M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 20 | operating income | us-gaap:OperatingIncomeLoss | -$80.0M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 21 | book equity | us-gaap:StockholdersEquity | $35.9M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 22 | liabilities | us-gaap:Liabilities | $73.5M | 2025-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 23 | assets | us-gaap:Assets | $312.7M | 2023-12-31 | 2025-03-12 | 10-K | filing · viewer · series |
| 24 | assets | us-gaap:Assets | $462.4M | 2022-12-31 | 2024-03-13 | 10-K | filing · viewer · series |
| 25 | shares outstanding | us-gaap:CommonStockSharesOutstanding | 56,508,441 | 2021-09-30 | 2021-12-07 | 10-Q | filing · viewer · series |
| 26 | net income | us-gaap:NetIncomeLoss | -$93.3M | 2024-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 27 | current assets | us-gaap:AssetsCurrent | $130.6M | 2024-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 28 | current liabilities | us-gaap:LiabilitiesCurrent | $44.4M | 2024-12-31 | 2026-03-31 | 10-K | filing · viewer · series |
| 29 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $37.4M | 2026-06-30 | 2026-08-19 | 10-Q | filing · viewer · series |
| 30 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | -$7.3M | 2026-06-30 | 2026-08-19 | 10-Q | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$12.1M | 2026-03-31 | 2026-05-15 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$51.8M | 2025-09-30 | 2025-11-07 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$36.6M | 2025-06-30 | 2025-08-08 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 88.9 is 8.9 points from the nearest band edge; sampling error is 2.2 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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