Allbirds stock crashes after the company said it lost $101 million last year and quarterly sales fell well below a year ago

• Allbirds stock plummeted more than 19% Thursday within hours of a disappointing earnings report.
• The company reported a $101 million annual loss and a 13% quarterly drop in sales. 
• Allbirds announced a four-part plan to restart profitability. 

Allbirds stock on Thursday plummeted within an hour of a disappointing earnings report that included a $101 million annual loss and a 13% drop in quarterly sales.

Shares were down more than 19% in after-hours trading to $1.91, below a 52-week low of $2.14. 

Sales increased 7% for the year to $298 million. 

The "year came to a challenging close, with results below our expectations due to both execution and macro challenges," cofounder and co-CEO Joey Zwillinger said, in a press release.