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Business Wire
04-06-2025
- Business
- Business Wire
BARK Reports Fourth Quarter Fiscal Year 2025 Results
NEW YORK--(BUSINESS WIRE)--BARK, Inc. (NYSE: BARK) ('BARK' or the 'Company'), a leading global omnichannel dog brand with a mission to make all dogs happy, today announced its financial results for the fiscal fourth quarter and full year ended March 31, 2025. Fiscal Fourth Quarter 2025 Highlights Versus Prior Year Total revenue was $115.4 million, down 5.0%. Commerce revenue was $15.4 million, up 26.5%. Gross Margin improved 80 basis points to 63.6%. Net loss of $(6.1) million increased by $1.2 million, primarily related to a $1.5 million non-cash impairment of capitalized software costs associated with technology platform modernization. Adjusted EBITDA was $5.2 million, a $3.0 million improvement. Fiscal Year 2025 Highlights Versus Prior Year Total revenue was $484.2 million, down 1.2%. Commerce revenue was $68.3 million, up 27.2%. Gross Margin improved by 70 basis points to 62.4%. Net loss was $(32.9) million, a $4.1 million improvement Adjusted EBITDA was $5.4 million, a $16.0 million improvement and the Company's first full year of positive Adjusted EBITDA. 'Fiscal 2025 was a meaningful year for BARK—we delivered $5.2 million of Adjusted EBITDA in the fourth quarter, our best quarterly performance ever, and $5.4 million for the full year, marking our first full year of positive Adjusted EBITDA,' said Matt Meeker, Co-Founder and Chief Executive Officer of BARK. 'Just three years ago, our Adjusted EBITDA was close to negative $60 million. Today, we're not only Adjusted EBITDA positive—we're determined to stay that way. Despite ongoing macroeconomic uncertainty and tariffs impacting growth, our team is executing against a clear plan to diversify our revenue and maintain our strong margins. We're investing in new product lines, new channels, and new services like BARK Air, all while maintaining a leaner, more resilient operating model that we believe will deliver long-term value for our customers and shareholders." Fiscal Fourth Quarter 2025 Highlights Revenue was $115.4 million a 5.0% decrease year-over-year. The decline partially reflects a deliberate reduction in marketing spend amid rising tariffs and macroeconomic uncertainty, as well as timing delays in retail shipments. Direct to Consumer ('DTC') revenue was $100.1 million, a 8.5% decrease year-over-year. The decrease is related to the dynamic described above. Included in this revenue is $1.8 million of revenue from BARK Air. Commerce revenue was $15.4 million, a 26.5% increase year-over-year, driven by the addition of new partners, and expanding shelf space and SKU counts with existing partners. The Company experienced some macro headwinds along with timing related shifts of revenue into fiscal 2026. Gross profit was $73.4 million, a 3.8% decrease year-over-year. Gross margin was 63.6%, as compared to 62.7% in the same period last year. Strong margin expansion in both the DTC and Commerce segments offset the higher mix impact of commerce. Advertising and marketing expenses were $17.3 million as compared to $18.8 million in the same period last year. General and administrative ("G&A") expenses were $62.7 million, as compared to $63.9 million last year. This decrease was largely driven by a reduction in headcount. Net loss was $(6.1) million, as compared to $(4.9) million in the same period in the previous year. The greater net loss is largely related to a $1.5 million non-cash impairment of capitalized software costs associated with the technology platform modernization. Adjusted EBITDA was $5.2 million, ahead of the Company's guidance range of $0.9 million to $4.9 million. Net cash used in operating activities was $(10.3) million. Free cash flow, defined as net cash used in operating activities less capital expenditures, was $(12.0) million primarily driven by working capital timing. Full Year 2025 Highlights Revenue was $484.2 million, a 1.2% decrease year-over-year, primarily related to the items described in the revenue sections above. Direct to Consumer ('DTC') revenue was $415.8 million, a 4.7% decrease compared to prior year. Included in this revenue is $5.8 million of revenue from BARK Air. Commerce revenue was $68.3 million, a 27.2% increase compared to prior year. Gross profit was $302.0 million, a 0.1% decrease year-over-year. Gross margin was 62.4%, as compared to 61.6% in the prior year. Advertising and marketing expenses were $83.8 million as compared to $79.3 million in the prior year. General and administrative ("G&A") expenses were $253.4 million, as compared to $268.4 million in the prior year. Net loss was $(32.9) million, as compared to $(37.0) million in the prior year. Adjusted EBITDA was $5.4 million, an improvement of $16 million compared to $(10.6) million in the prior year. Net cash used in operating activities was $(7.1) million. Free cash flow, defined as net cash used in operating activities less capital expenditures, was $(13.2) million, driven by year end inventory build and other working capital changes. Balance Sheet Highlights The Company's cash and cash equivalents balance as of March 31, 2025 was $94.0 million, and reflects $10.5 million of share repurchases in the fourth quarter at an average price of $1.71. The Company's inventory balance as of March 31, 2025 was $88.1 million, a $3.9 million increase compared to last year. First Quarter Fiscal 2026 Financial Outlook Based on current market conditions as of June 4, 2025, BARK is providing guidance for revenue and Adjusted EBITDA, which is a Non-GAAP financial measure, as follows. For the first quarter of fiscal 2026, the Company expects: Total revenue of $99.0 million to $101.0 million, as compared to $116.2 million last year. The year-over-year decline is largely due to a deliberate reduction in DTC marketing given the uncertain macro environment. Additionally, the Company anticipates lower growth in Commerce revenue in the first quarter as certain retail partners opted to delay placing orders for imported product under the previously announced 145% tariffs on goods from China. Adjusted EBITDA of $(1.0) million to $1.0 million reflecting a year-over-year improvement of approximately $1.8 million at the midpoint of the range. Due to ongoing uncertainty surrounding potential tariffs and their impact on overall demand and operating costs, BARK will not be providing full-year guidance at this time. The Company will continue to evaluate market conditions and provide updates as the macroeconomic landscape becomes clearer. BARK remains focused on executing its strategic initiatives and delivering long-term value to its customers and shareholders. We do not provide guidance for Net Loss due to the uncertainty and potential variability of certain items, including stock-based compensation expenses and related tax effects, which are the reconciling items between Net Loss and Adjusted EBITDA. Because such items cannot be calculated or predicted without unreasonable efforts, we are unable to provide a reconciliation of Adjusted EBITDA to Net Loss. However, such items could have a significant impact on Net Loss. The guidance provided above constitutes forward looking statements and actual results may differ materially. Please refer to the 'Forward Looking Statements' section below for information on the factors that could cause our actual results to differ materially from these forward looking statements and 'Non-GAAP Financial Measures' for additional important information regarding Adjusted EBITDA. Conference Call Information A conference call to discuss the Company's fiscal fourth quarter and full year 2025 results will be held today, June 4, 2025, at 4:30 p.m. ET. During the conference call, the Company may make comments concerning business and financial developments, trends and other business or financial matters. The Company's comments, as well as other matters discussed during the conference call, may contain or constitute information that has not been previously disclosed. The conference call can be accessed by dialing 1-888-596-4144 for U.S. participants and 1-646-968-2525 for international participants. The conference call passcode is 5515653. A live audio webcast of the call will be available at and will be archived for 1 year. About BARK BARK is the world's most dog-centric company, devoted to making all dogs happy with the best products, services, and content. BARK's dog-obsessed team leverages its unique, data-driven understanding of what makes each dog special to design playstyle-specific toys, wildly satisfying treats, dog-first experiences that foster the health and happiness of dogs everywhere, and more. Founded in 2011, BARK loyally serves millions of dogs nationwide with BarkBox and Super Chewer, its themed toys and treats subscriptions; custom product collections through its retail partner network, including Target, Chewy, and Amazon; and BARK Air, the first air travel experience designed specifically for dogs first. At BARK, we want to make dogs as happy as they make us because dogs and humans are better together. Sniff around at for more information. Forward Looking Statements This press release contains forward-looking statements relating to, among other things, the future performance of BARK that are based on the Company's current expectations, forecasts and assumptions and involve risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as 'may,' 'will,' 'should,' 'could,' 'expect,' 'plan,' "anticipate,' 'believe,' 'estimate,' 'predict,' 'intend,' 'potential,' 'continue,' 'ongoing' or the negative of these terms or other comparable terminology. These statements include, but are not limited to, statements about future operating results, including our strategies, plans, commitments, objectives and goals. Actual results could differ materially from those predicted or implied and reported results should not be considered an indication of future performance. Other factors that could cause or contribute to such differences include, but are not limited to, risks relating to the uncertainty of the projected financial information with respect to BARK; spending on pets not increasing at projected rates; customers not increasing their spending with BARK; BARK's ability to continue to convert social media followers and contacts into customers; BARK's ability to successfully expand its product lines and services and channel distribution; competition and the uncertain effects of global or macroeconomic events or challenges, in particular the imposition of tariffs. More information about factors that could affect BARK's operating results is included under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in the Company's annual report on Form 10-K, copies of which may be obtained by visiting the Company's Investor Relations website at or the SEC's website at Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the Company on the date hereof. The Company assumes no obligation to update such statements. Definitions of Key Performance Indicators Total Orders We define Total Orders as the total number of Direct to Consumer orders shipped in a given period. These include all orders across all of our product categories, regardless of whether they are purchased on a subscription, auto-ship, or one-off basis. Total Orders excludes orders from BARK Air. We use Total Orders as an indicator of customer interest and demand. Average Order Value Average Order Value ('AOV') is Direct to Consumer revenue for the period divided by Total Orders for the same period. AOV excludes Direct to Consumer revenue from BARK Air. We use AOV to provide insight into customer spending patterns. BARK, Inc. (In thousands) Three Months Ended Fiscal Year Ended March 31, March 31, 2025 2024 2025 2024 REVENUE $ 115,410 $ 121,483 $ 484,182 $ 490,184 COST OF REVENUE 42,060 45,255 182,194 188,032 Gross profit 73,350 76,228 301,988 302,152 OPERATING EXPENSES: General and administrative 62,671 63,919 253,380 268,390 Advertising and marketing 17,296 18,760 83,756 79,282 Total operating expenses 79,967 82,679 337,136 347,672 LOSS FROM OPERATIONS (6,617 ) (6,451 ) (35,148 ) (45,520 ) INTEREST INCOME 915 1,682 4,926 7,533 INTEREST EXPENSE (714 ) (704 ) (2,788 ) (4,351 ) OTHER INCOME (EXPENSE)—NET 349 570 132 5,328 NET LOSS BEFORE INCOME TAXES (6,067 ) (4,903 ) (32,878 ) (37,010 ) PROVISION FOR INCOME TAXES — — — — Expand (1) The allocation between Toys & Accessories and Consumables includes estimates and was determined utilizing data on stand-alone selling prices that the Company charges for similar offerings, and also reflects historical pricing practices. (2) Other Direct to Consumer revenue derived from BARK Air. Expand BARK, INC. CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) March 31, 2025 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 94,022 $ 125,495 Accounts receivable—net 9,453 7,696 Prepaid expenses and other current assets 10,036 4,379 Inventory 88,126 84,177 Total current assets 201,637 221,747 PROPERTY AND EQUIPMENT—NET 21,475 25,540 INTANGIBLE ASSETS—NET 5,426 11,921 OPERATING LEASE RIGHT-OF-USE ASSETS 28,277 32,793 OTHER NONCURRENT ASSETS 3,820 6,587 TOTAL ASSETS $ 260,635 $ 298,588 LIABILITIES, AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 20,364 $ 13,737 Operating lease liabilities, current 5,798 5,294 Accrued and other current liabilities 34,054 30,490 Deferred revenue 21,251 25,957 Current portion of long-term debt 42,573 — Total current liabilities 124,040 75,478 LONG-TERM DEBT — 39,926 OPERATING LEASE LIABILITIES 36,802 42,599 OTHER LONG-TERM LIABILITIES 267 1,202 Total liabilities 161,109 159,205 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Common stock, par value $0.0001 per share—500,000,000 shares authorized; 169,732,895 shares issued and outstanding as of March 31, 2025 and 500,000,000 shares authorized; 175,533,136 shares issued and outstanding as of March 31, 2024 1 1 Treasury stock, at cost, 15,992,598 and 4,643,589 shares, respectively (24,730 ) (6,225 ) Additional paid-in capital 504,022 492,427 Accumulated deficit (379,767 ) (346,820 ) Total stockholders' equity 99,526 139,383 TOTAL LIABILITIES, AND STOCKHOLDERS' EQUITY $ 260,635 $ 298,588 Expand BARK, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Fiscal Year Ended March 31, March 31, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (32,878 ) $ (37,010 ) Adjustments to reconcile net loss to cash used in operating activities: Depreciation & amortization 11,222 12,602 Impairment of assets 3,599 3,079 Amortization of deferred financing fees and debt discount 412 578 Bad debt expense — 154 Stock-based compensation expense 12,735 12,931 Loss on disposal of assets 23 72 Provision for inventory obsolescence 1,587 (548 ) (Gain) loss on extinguishment of debt — (1,828 ) Change in fair value of warrant liabilities and derivatives 521 (2,738 ) Paid in kind interest on convertible notes 2,235 2,119 Non-cash lease expense 4,516 4,100 Changes in operating assets and liabilities: Accounts receivable (1,756 ) (1,296 ) Inventory (5,535 ) 40,706 Prepaid expenses and other current assets (986 ) (1,074 ) Other assets (1,547 ) 700 Accounts payable and accrued expenses 11,691 (17,779 ) Deferred revenue (4,707 ) (1,814 ) Operating lease liabilities (5,294 ) (4,830 ) Other liabilities (2,917 ) (2,064 ) Net cash (used in) provided by operating activities (7,079 ) 6,060 CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (6,157 ) (8,831 ) Net cash used in investing activities (6,157 ) (8,831 ) CASH FLOWS FROM FINANCING ACTIVITIES: Payment of restricted stock units held for taxes (2,867 ) (1,409 ) Payment of finance lease obligations (225 ) (215 ) Proceeds from the exercise of stock options 1,358 108 Proceeds from issuance of common stock under ESPP 425 489 Payments to repurchase common stock (18,505 ) (6,225 ) Excise tax from stock repurchases (56 ) (63 ) Payments of long-term debt — (42,300 ) Net cash used in financing activities (19,870 ) (49,615 ) Effect of exchange rate changes on cash (69 ) 24 NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (33,174 ) (52,362 ) CASH, CASH EQUIVALENTS AND RESTRICTED CASH—BEGINNING OF PERIOD 130,705 183,067 CASH, CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD $ 97,531 $ 130,705 RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents 94,022 125,495 Restricted cash—prepaid expenses and other current assets, other noncurrent assets 3,509 5,210 Total cash, cash equivalents and restricted cash $ 97,531 $ 130,705 SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Cash paid for interest $ 100 $ 2,385 NON-CASH INVESTING AND FINANCING ACTIVITIES: Purchases of property and equipment included in accounts payable and accrued liabilities $ 182 $ 4 Expand Non-GAAP Financial Measures We report our financial results in accordance with U.S. GAAP. However, management believes that Adjusted Net Income (Loss), Adjusted Net Income (Loss) Margin, Adjusted Net Income (Loss) Per Common Share, Adjusted EBITDA, Adjusted EBITDA Margin, and Free Cash Flow, all non-GAAP financial measures (together the 'Non-GAAP Measures'), provide investors with additional useful information in evaluating our performance. We calculate Adjusted Net Loss as net loss, adjusted to exclude: (1) stock-based compensation expense, (2) change in fair value of warrants and derivatives, (3) sales and use tax income, (4) restructuring charges related to reduction in force payments, (5) gain on extinguishment of debt, (6) litigation expenses (consisting of legal and related fees for a specific proceeding that is outside of our ordinary course of business), (7) warehouse restructuring costs, (8) non-cash impairment of previously capitalized software and cloud computing implementation costs, (9) technology modernization costs, and (10) other items (as defined below). We calculate Adjusted Net Income (Loss) Margin by dividing Adjusted Net Income (Loss) for the period by Revenue for the period. We calculate Adjusted Net Income (Loss) Per Common Share by dividing Adjusted Net Income (Loss) for the period by weighted average common shares used to compute net loss per share attributable to common stockholders for the period. We calculate Adjusted EBITDA as net loss, adjusted to exclude: (1) interest income, (2) interest expense (3) depreciation and amortization expense, (4) stock-based compensation expense, (5) change in fair value of warrants and derivatives, (6) capitalized cloud computing amortization, (7) sales and use tax income, (8) restructuring charges related to reduction in force payments, (9) gain on extinguishment of debt, (10) litigation expenses (consisting of legal and related fees for a specific proceeding that is outside of our ordinary course of business), (11) warehouse restructuring costs, (12) non-cash impairment of previously capitalized software and cloud computing implementation costs, (13) technology modernization costs, and (14) other items (as defined below). We calculate Adjusted EBITDA Margin by dividing Adjusted EBITDA for the period by revenue for the period. We calculate Free Cash Flow as net cash provided by (used in) operating activities less capital expenditures. The Non-GAAP Measures are financial measures that are not required by, or presented in accordance with U.S. GAAP. We believe that the Non-GAAP Measures, when taken together with our financial results presented in accordance with U.S. GAAP, provides meaningful supplemental information regarding our operating performance and facilitates internal comparisons of our historical operating performance on a more consistent basis by excluding certain items that may not be indicative of our business, results of operations or outlook. In particular, we believe that the use of the Non-GAAP Measures are helpful to our investors as they are measures used by management in assessing the health of our business, determining incentive compensation and evaluating our operating performance, as well as for internal planning and forecasting purposes. The Non-GAAP Measures are presented for supplemental informational purposes only, have limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with U.S. GAAP. Some of the limitations of the Non-GAAP Measures include that (1) the measures do not properly reflect capital commitments to be paid in the future, (2) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and Adjusted EBITDA and Adjusted EBITDA Margin do not reflect these capital expenditures, (3) Adjusted EBITDA and Adjusted EBITDA Margin do not consider the impact of stock-based compensation expense, which is an ongoing expense for our company, (4) Adjusted EBITDA and Adjusted EBITDA Margin do not reflect other non-operating expenses, including interest expense. In addition, our use of the Non-GAAP Measures may not be comparable to similarly titled measures of other companies because they may not calculate the Non-GAAP Measures in the same manner, limiting their usefulness as a comparative measure. Because of these limitations, when evaluating our performance, you should consider the Non-GAAP Measures alongside other financial measures, including our net income (loss) and other results stated in accordance with U.S. GAAP, and (5) Free cash flow does not represent the total residual cash flow available for discretionary purposes and does not reflect our future contractual commitments. The following table presents a reconciliation of Adjusted Net Income (Loss) to Net loss, the most directly comparable financial measure stated in accordance with U.S. GAAP, and the calculation of net loss margin, Adjusted Net Loss Margin and Adjusted Net Loss Per Common Share for the periods presented: Adjusted Net Income (Loss) The following table presents a reconciliation of Adjusted EBITDA to net loss, the most directly comparable financial measure stated in accordance with U.S. GAAP, and the calculation of net loss margin and Adjusted EBITDA margin for the periods presented: Adjusted EBITDA Three Months Ended March 31, Fiscal Year Ended March 31, 2025 2024 2025 2024 (in thousands) (in thousands) Net Loss $ (6,067 ) $ (4,903 ) $ (32,878 ) $ (37,010 ) Interest income (915 ) (1,682 ) (4,926 ) (7,533 ) Interest expense 714 704 2,788 4,351 Depreciation and amortization expense 2,838 3,703 11,222 12,602 Stock compensation expense 2,964 2,421 12,735 12,931 Change in fair value of warrants and derivatives (130 ) (522 ) 521 (2,738 ) Cloud computing amortization 248 — 594 — Sales and use tax income (1) (418 ) (332 ) (2,417 ) (487 ) Restructuring 1,215 117 3,829 1,660 Gain on extinguishment of debt — — — (1,828 ) Litigation expenses (2) 733 80 1,839 175 Warehouse restructuring costs 1,448 654 4,738 814 Impairment of assets 1,457 — 3,599 3,079 Technology modernization (3) 650 684 2,400 684 Other items (4) 488 1,315 1,316 2,698 Adjusted EBITDA $ 5,225 $ 2,239 $ 5,360 $ (10,602 ) Net loss margin (5.26 )% (4.04 )% (6.79 )% (7.55 )% Adjusted EBITDA margin 4.53 % 1.84 % 1.11 % (2.16 )% Expand (1) Sales and use tax expense relates to recording a liability for sales and use tax we did not collect from our customers. Historically, we had collected state or local sales, use, or other similar taxes in certain jurisdictions in which we only had physical presence. On June 21, 2018, the U.S. Supreme Court decided, in South Dakota v. Wayfair, Inc., that state and local jurisdictions may, at least in certain circumstances, enforce a sales and use tax collection obligation on remote vendors that have no physical presence in such jurisdiction. A number of states have positioned themselves to require sales and use tax collection by remote vendors and/or by online marketplaces. The details and effective dates of these collection requirements vary from state to state and accordingly, we recorded a liability in those periods in which we created economic nexus based on each state's requirements. Accordingly, we now collect, remit, and report sales tax in all states that impose a sales tax. Subsequently, as certain of these liabilities are waived by tax authorities or the applicable statute of limitations expires, the related accrued liability is reversed. (2) Litigation expenses related to a shareholder class action complaint, see Item 3. Legal Proceedings in the Company's annual report on Form 10-K. (3) Includes consulting fees related to technology transformation activities, and payroll costs for employees that dedicate significant time to this project. We believe that these costs are discrete and non-recurring in nature, as they relate to a one-time unification of our product offerings on our new commerce platform. As such, they are not normal, recurring operating expenses and are not reflective of ongoing trends in the cost of doing business. (4) For the three months ended March 31, 2025, other items is comprised of executive transition costs including recruiting costs of $0.4 million, costs associated with the share repurchase program of $0.1 million, and duplicate headquarters rent of less than $0.1 million. For the three months ended March 31, 2024 other items is comprised of executive transitions costs of $0.9 million, non-recurring retention payments to management of $0.4 million, and duplicate headquarters rent of less than $0.1 million. For the twelve months ended March 31, 2025, other items is comprised of executive transition costs including recruiting costs of $0.8 million, costs associated with the share repurchase program of $0.4 million, and duplicate headquarters rent of less than $0.1 million. For the twelve months ended March 31, 2024, other items is comprised of non-recurring retention payments of $1.4 million, executive transition costs including recruiting costs of $1.3 million, and duplicate headquarters rent of less than $0.1 million. Expand The following table presents a reconciliation of Free Cash Flow to Net cash used in operating activities, the most directly comparable financial measure prepared in accordance with U.S. GAAP, for each of the periods indicated:
Yahoo
04-06-2025
- Business
- Yahoo
BARK Reports Fourth Quarter Fiscal Year 2025 Results
NEW YORK, June 04, 2025--(BUSINESS WIRE)--BARK, Inc. (NYSE: BARK) ("BARK" or the "Company"), a leading global omnichannel dog brand with a mission to make all dogs happy, today announced its financial results for the fiscal fourth quarter and full year ended March 31, 2025. Fiscal Fourth Quarter 2025 Highlights Versus Prior Year Total revenue was $115.4 million, down 5.0%. Commerce revenue was $15.4 million, up 26.5%. Gross Margin improved 80 basis points to 63.6%. Net loss of $(6.1) million increased by $1.2 million, primarily related to a $1.5 million non-cash impairment of capitalized software costs associated with technology platform modernization. Adjusted EBITDA was $5.2 million, a $3.0 million improvement. Fiscal Year 2025 Highlights Versus Prior Year Total revenue was $484.2 million, down 1.2%. Commerce revenue was $68.3 million, up 27.2%. Gross Margin improved by 70 basis points to 62.4%. Net loss was $(32.9) million, a $4.1 million improvement Adjusted EBITDA was $5.4 million, a $16.0 million improvement and the Company's first full year of positive Adjusted EBITDA. "Fiscal 2025 was a meaningful year for BARK—we delivered $5.2 million of Adjusted EBITDA in the fourth quarter, our best quarterly performance ever, and $5.4 million for the full year, marking our first full year of positive Adjusted EBITDA," said Matt Meeker, Co-Founder and Chief Executive Officer of BARK. "Just three years ago, our Adjusted EBITDA was close to negative $60 million. Today, we're not only Adjusted EBITDA positive—we're determined to stay that way. Despite ongoing macroeconomic uncertainty and tariffs impacting growth, our team is executing against a clear plan to diversify our revenue and maintain our strong margins. We're investing in new product lines, new channels, and new services like BARK Air, all while maintaining a leaner, more resilient operating model that we believe will deliver long-term value for our customers and shareholders." Fiscal Fourth Quarter 2025 Highlights Revenue was $115.4 million a 5.0% decrease year-over-year. The decline partially reflects a deliberate reduction in marketing spend amid rising tariffs and macroeconomic uncertainty, as well as timing delays in retail shipments. Direct to Consumer ("DTC") revenue was $100.1 million, a 8.5% decrease year-over-year. The decrease is related to the dynamic described above. Included in this revenue is $1.8 million of revenue from BARK Air. Commerce revenue was $15.4 million, a 26.5% increase year-over-year, driven by the addition of new partners, and expanding shelf space and SKU counts with existing partners. The Company experienced some macro headwinds along with timing related shifts of revenue into fiscal 2026. Gross profit was $73.4 million, a 3.8% decrease year-over-year. Gross margin was 63.6%, as compared to 62.7% in the same period last year. Strong margin expansion in both the DTC and Commerce segments offset the higher mix impact of commerce. Advertising and marketing expenses were $17.3 million as compared to $18.8 million in the same period last year. General and administrative ("G&A") expenses were $62.7 million, as compared to $63.9 million last year. This decrease was largely driven by a reduction in headcount. Net loss was $(6.1) million, as compared to $(4.9) million in the same period in the previous year. The greater net loss is largely related to a $1.5 million non-cash impairment of capitalized software costs associated with the technology platform modernization. Adjusted EBITDA was $5.2 million, ahead of the Company's guidance range of $0.9 million to $4.9 million. Net cash used in operating activities was $(10.3) million. Free cash flow, defined as net cash used in operating activities less capital expenditures, was $(12.0) million primarily driven by working capital timing. Full Year 2025 Highlights Revenue was $484.2 million, a 1.2% decrease year-over-year, primarily related to the items described in the revenue sections above. Direct to Consumer ("DTC") revenue was $415.8 million, a 4.7% decrease compared to prior year. Included in this revenue is $5.8 million of revenue from BARK Air. Commerce revenue was $68.3 million, a 27.2% increase compared to prior year. Gross profit was $302.0 million, a 0.1% decrease year-over-year. Gross margin was 62.4%, as compared to 61.6% in the prior year. Advertising and marketing expenses were $83.8 million as compared to $79.3 million in the prior year. General and administrative ("G&A") expenses were $253.4 million, as compared to $268.4 million in the prior year. Net loss was $(32.9) million, as compared to $(37.0) million in the prior year. Adjusted EBITDA was $5.4 million, an improvement of $16 million compared to $(10.6) million in the prior year. Net cash used in operating activities was $(7.1) million. Free cash flow, defined as net cash used in operating activities less capital expenditures, was $(13.2) million, driven by year end inventory build and other working capital changes. Balance Sheet Highlights The Company's cash and cash equivalents balance as of March 31, 2025 was $94.0 million, and reflects $10.5 million of share repurchases in the fourth quarter at an average price of $1.71. The Company's inventory balance as of March 31, 2025 was $88.1 million, a $3.9 million increase compared to last year. First Quarter Fiscal 2026 Financial Outlook Based on current market conditions as of June 4, 2025, BARK is providing guidance for revenue and Adjusted EBITDA, which is a Non-GAAP financial measure, as follows. For the first quarter of fiscal 2026, the Company expects: Total revenue of $99.0 million to $101.0 million, as compared to $116.2 million last year. The year-over-year decline is largely due to a deliberate reduction in DTC marketing given the uncertain macro environment. Additionally, the Company anticipates lower growth in Commerce revenue in the first quarter as certain retail partners opted to delay placing orders for imported product under the previously announced 145% tariffs on goods from China. Adjusted EBITDA of $(1.0) million to $1.0 million reflecting a year-over-year improvement of approximately $1.8 million at the midpoint of the range. Due to ongoing uncertainty surrounding potential tariffs and their impact on overall demand and operating costs, BARK will not be providing full-year guidance at this time. The Company will continue to evaluate market conditions and provide updates as the macroeconomic landscape becomes clearer. BARK remains focused on executing its strategic initiatives and delivering long-term value to its customers and shareholders. We do not provide guidance for Net Loss due to the uncertainty and potential variability of certain items, including stock-based compensation expenses and related tax effects, which are the reconciling items between Net Loss and Adjusted EBITDA. Because such items cannot be calculated or predicted without unreasonable efforts, we are unable to provide a reconciliation of Adjusted EBITDA to Net Loss. However, such items could have a significant impact on Net Loss. The guidance provided above constitutes forward looking statements and actual results may differ materially. Please refer to the "Forward Looking Statements" section below for information on the factors that could cause our actual results to differ materially from these forward looking statements and "Non-GAAP Financial Measures" for additional important information regarding Adjusted EBITDA. Conference Call Information A conference call to discuss the Company's fiscal fourth quarter and full year 2025 results will be held today, June 4, 2025, at 4:30 p.m. ET. During the conference call, the Company may make comments concerning business and financial developments, trends and other business or financial matters. The Company's comments, as well as other matters discussed during the conference call, may contain or constitute information that has not been previously disclosed. The conference call can be accessed by dialing 1-888-596-4144 for U.S. participants and 1-646-968-2525 for international participants. The conference call passcode is 5515653. A live audio webcast of the call will be available at and will be archived for 1 year. About BARK BARK is the world's most dog-centric company, devoted to making all dogs happy with the best products, services, and content. BARK's dog-obsessed team leverages its unique, data-driven understanding of what makes each dog special to design playstyle-specific toys, wildly satisfying treats, dog-first experiences that foster the health and happiness of dogs everywhere, and more. Founded in 2011, BARK loyally serves millions of dogs nationwide with BarkBox and Super Chewer, its themed toys and treats subscriptions; custom product collections through its retail partner network, including Target, Chewy, and Amazon; and BARK Air, the first air travel experience designed specifically for dogs first. At BARK, we want to make dogs as happy as they make us because dogs and humans are better together. Sniff around at for more information. Forward Looking Statements This press release contains forward-looking statements relating to, among other things, the future performance of BARK that are based on the Company's current expectations, forecasts and assumptions and involve risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "intend," "potential," "continue," "ongoing" or the negative of these terms or other comparable terminology. These statements include, but are not limited to, statements about future operating results, including our strategies, plans, commitments, objectives and goals. Actual results could differ materially from those predicted or implied and reported results should not be considered an indication of future performance. Other factors that could cause or contribute to such differences include, but are not limited to, risks relating to the uncertainty of the projected financial information with respect to BARK; spending on pets not increasing at projected rates; customers not increasing their spending with BARK; BARK's ability to continue to convert social media followers and contacts into customers; BARK's ability to successfully expand its product lines and services and channel distribution; competition and the uncertain effects of global or macroeconomic events or challenges, in particular the imposition of tariffs. More information about factors that could affect BARK's operating results is included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's annual report on Form 10-K, copies of which may be obtained by visiting the Company's Investor Relations website at or the SEC's website at Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the Company on the date hereof. The Company assumes no obligation to update such statements. Definitions of Key Performance Indicators Total Orders We define Total Orders as the total number of Direct to Consumer orders shipped in a given period. These include all orders across all of our product categories, regardless of whether they are purchased on a subscription, auto-ship, or one-off basis. Total Orders excludes orders from BARK Air. We use Total Orders as an indicator of customer interest and demand. Average Order Value Average Order Value ("AOV") is Direct to Consumer revenue for the period divided by Total Orders for the same period. AOV excludes Direct to Consumer revenue from BARK Air. We use AOV to provide insight into customer spending patterns. Key Performance Indicators Three Months EndedMarch 31, Fiscal Year EndedMarch 31, 2025 2024 2025 2024 Total Orders (in thousands) 3,166 3,499 13,210 13,924 Average Order Value $ 31.05 $ 31.25 $ 31.04 $ 31.34 Direct to Consumer Gross Profit (in thousands)(1) $ 66,085 $ 70,803 $ 271,012 $ 278,868 Direct to Consumer Gross Margin (1) 67.2 % 64.8 % 66.1 % 63.9 % (1) Direct to Consumer Gross Profit and Direct to Consumer Gross Margin does not include the revenue or cost of goods sold from BARK Air. BARK, Inc. CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands) Three Months Ended Fiscal Year Ended March 31, March 31, 2025 2024 2025 2024 REVENUE $ 115,410 $ 121,483 $ 484,182 $ 490,184 COST OF REVENUE 42,060 45,255 182,194 188,032 Gross profit 73,350 76,228 301,988 302,152 OPERATING EXPENSES: General and administrative 62,671 63,919 253,380 268,390 Advertising and marketing 17,296 18,760 83,756 79,282 Total operating expenses 79,967 82,679 337,136 347,672 LOSS FROM OPERATIONS (6,617 ) (6,451 ) (35,148 ) (45,520 ) INTEREST INCOME 915 1,682 4,926 7,533 INTEREST EXPENSE (714 ) (704 ) (2,788 ) (4,351 ) OTHER INCOME (EXPENSE)—NET 349 570 132 5,328 NET LOSS BEFORE INCOME TAXES (6,067 ) (4,903 ) (32,878 ) (37,010 ) PROVISION FOR INCOME TAXES — — — — NET LOSS AND COMPREHENSIVE LOSS $ (6,067 ) $ (4,903 ) $ (32,878 ) $ (37,010 ) DISAGGREGATED REVENUE (In thousands) Fiscal Year Ended March 31, 2025 2024 2023 Revenue Direct to Consumer: Toys & Accessories(1) $ 262,307 $ 284,676 $ 307,045 Consumables(1) 147,683 151,770 164,949 Other(2) 5,847 — — Total Direct to Consumer $ 415,837 $ 436,446 $ 471,994 Commerce 68,345 53,738 63,321 Revenue $ 484,182 $ 490,184 $ 535,315 (1) The allocation between Toys & Accessories and Consumables includes estimates and was determined utilizing data on stand-alone selling prices that the Company charges for similar offerings, and also reflects historical pricing practices. (2) Other Direct to Consumer revenue derived from BARK Air. GROSS PROFIT BY SEGMENT (In thousands) Three Months Ended Fiscal Year Ended March 31, March 31, 2025 2024 2025 2024 Direct to Consumer:(1) Revenue $ 100,060 $ 109,345 $ 415,837 $ 436,446 Cost of revenue 34,081 38,542 145,011 157,578 Gross profit 65,979 70,803 270,826 278,868 Commerce: Revenue 15,350 12,137 68,345 53,738 Cost of revenue 7,979 6,712 37,183 30,454 Gross profit 7,371 5,425 31,162 23,284 Consolidated: Revenue 115,410 121,482 484,182 490,184 Cost of revenue 42,060 45,254 182,194 188,032 Gross profit $ 73,350 $ 76,228 $ 301,988 $ 302,152 (1) Direct to Consumer segment gross profit include revenue and cost of revenue from BARK Air. BARK, INC. CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) March 31, March 31, 2025 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 94,022 $ 125,495 Accounts receivable—net 9,453 7,696 Prepaid expenses and other current assets 10,036 4,379 Inventory 88,126 84,177 Total current assets 201,637 221,747 PROPERTY AND EQUIPMENT—NET 21,475 25,540 INTANGIBLE ASSETS—NET 5,426 11,921 OPERATING LEASE RIGHT-OF-USE ASSETS 28,277 32,793 OTHER NONCURRENT ASSETS 3,820 6,587 TOTAL ASSETS $ 260,635 $ 298,588 LIABILITIES, AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 20,364 $ 13,737 Operating lease liabilities, current 5,798 5,294 Accrued and other current liabilities 34,054 30,490 Deferred revenue 21,251 25,957 Current portion of long-term debt 42,573 — Total current liabilities 124,040 75,478 LONG-TERM DEBT — 39,926 OPERATING LEASE LIABILITIES 36,802 42,599 OTHER LONG-TERM LIABILITIES 267 1,202 Total liabilities 161,109 159,205 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Common stock, par value $0.0001 per share—500,000,000 shares authorized; 169,732,895 shares issued and outstanding as of March 31, 2025 and 500,000,000 shares authorized; 175,533,136 shares issued and outstanding as of March 31, 2024 1 1 Treasury stock, at cost, 15,992,598 and 4,643,589 shares, respectively (24,730 ) (6,225 ) Additional paid-in capital 504,022 492,427 Accumulated deficit (379,767 ) (346,820 ) Total stockholders' equity 99,526 139,383 TOTAL LIABILITIES, AND STOCKHOLDERS' EQUITY $ 260,635 $ 298,588 BARK, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Fiscal Year Ended March 31, March 31, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (32,878 ) $ (37,010 ) Adjustments to reconcile net loss to cash used in operating activities: Depreciation & amortization 11,222 12,602 Impairment of assets 3,599 3,079 Amortization of deferred financing fees and debt discount 412 578 Bad debt expense — 154 Stock-based compensation expense 12,735 12,931 Loss on disposal of assets 23 72 Provision for inventory obsolescence 1,587 (548 ) (Gain) loss on extinguishment of debt — (1,828 ) Change in fair value of warrant liabilities and derivatives 521 (2,738 ) Paid in kind interest on convertible notes 2,235 2,119 Non-cash lease expense 4,516 4,100 Changes in operating assets and liabilities: Accounts receivable (1,756 ) (1,296 ) Inventory (5,535 ) 40,706 Prepaid expenses and other current assets (986 ) (1,074 ) Other assets (1,547 ) 700 Accounts payable and accrued expenses 11,691 (17,779 ) Deferred revenue (4,707 ) (1,814 ) Operating lease liabilities (5,294 ) (4,830 ) Other liabilities (2,917 ) (2,064 ) Net cash (used in) provided by operating activities (7,079 ) 6,060 CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (6,157 ) (8,831 ) Net cash used in investing activities (6,157 ) (8,831 ) CASH FLOWS FROM FINANCING ACTIVITIES: Payment of restricted stock units held for taxes (2,867 ) (1,409 ) Payment of finance lease obligations (225 ) (215 ) Proceeds from the exercise of stock options 1,358 108 Proceeds from issuance of common stock under ESPP 425 489 Payments to repurchase common stock (18,505 ) (6,225 ) Excise tax from stock repurchases (56 ) (63 ) Payments of long-term debt — (42,300 ) Net cash used in financing activities (19,870 ) (49,615 ) Effect of exchange rate changes on cash (69 ) 24 NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (33,174 ) (52,362 ) CASH, CASH EQUIVALENTS AND RESTRICTED CASH—BEGINNING OF PERIOD 130,705 183,067 CASH, CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD $ 97,531 $ 130,705 RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents 94,022 125,495 Restricted cash—prepaid expenses and other current assets, other noncurrent assets 3,509 5,210 Total cash, cash equivalents and restricted cash $ 97,531 $ 130,705 SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Cash paid for interest $ 100 $ 2,385 NON-CASH INVESTING AND FINANCING ACTIVITIES: Purchases of property and equipment included in accounts payable and accrued liabilities $ 182 $ 4 Non-GAAP Financial Measures We report our financial results in accordance with U.S. GAAP. However, management believes that Adjusted Net Income (Loss), Adjusted Net Income (Loss) Margin, Adjusted Net Income (Loss) Per Common Share, Adjusted EBITDA, Adjusted EBITDA Margin, and Free Cash Flow, all non-GAAP financial measures (together the "Non-GAAP Measures"), provide investors with additional useful information in evaluating our performance. We calculate Adjusted Net Loss as net loss, adjusted to exclude: (1) stock-based compensation expense, (2) change in fair value of warrants and derivatives, (3) sales and use tax income, (4) restructuring charges related to reduction in force payments, (5) gain on extinguishment of debt, (6) litigation expenses (consisting of legal and related fees for a specific proceeding that is outside of our ordinary course of business), (7) warehouse restructuring costs, (8) non-cash impairment of previously capitalized software and cloud computing implementation costs, (9) technology modernization costs, and (10) other items (as defined below). We calculate Adjusted Net Income (Loss) Margin by dividing Adjusted Net Income (Loss) for the period by Revenue for the period. We calculate Adjusted Net Income (Loss) Per Common Share by dividing Adjusted Net Income (Loss) for the period by weighted average common shares used to compute net loss per share attributable to common stockholders for the period. We calculate Adjusted EBITDA as net loss, adjusted to exclude: (1) interest income, (2) interest expense (3) depreciation and amortization expense, (4) stock-based compensation expense, (5) change in fair value of warrants and derivatives, (6) capitalized cloud computing amortization, (7) sales and use tax income, (8) restructuring charges related to reduction in force payments, (9) gain on extinguishment of debt, (10) litigation expenses (consisting of legal and related fees for a specific proceeding that is outside of our ordinary course of business), (11) warehouse restructuring costs, (12) non-cash impairment of previously capitalized software and cloud computing implementation costs, (13) technology modernization costs, and (14) other items (as defined below). We calculate Adjusted EBITDA Margin by dividing Adjusted EBITDA for the period by revenue for the period. We calculate Free Cash Flow as net cash provided by (used in) operating activities less capital expenditures. The Non-GAAP Measures are financial measures that are not required by, or presented in accordance with U.S. GAAP. We believe that the Non-GAAP Measures, when taken together with our financial results presented in accordance with U.S. GAAP, provides meaningful supplemental information regarding our operating performance and facilitates internal comparisons of our historical operating performance on a more consistent basis by excluding certain items that may not be indicative of our business, results of operations or outlook. In particular, we believe that the use of the Non-GAAP Measures are helpful to our investors as they are measures used by management in assessing the health of our business, determining incentive compensation and evaluating our operating performance, as well as for internal planning and forecasting purposes. The Non-GAAP Measures are presented for supplemental informational purposes only, have limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with U.S. GAAP. Some of the limitations of the Non-GAAP Measures include that (1) the measures do not properly reflect capital commitments to be paid in the future, (2) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and Adjusted EBITDA and Adjusted EBITDA Margin do not reflect these capital expenditures, (3) Adjusted EBITDA and Adjusted EBITDA Margin do not consider the impact of stock-based compensation expense, which is an ongoing expense for our company, (4) Adjusted EBITDA and Adjusted EBITDA Margin do not reflect other non-operating expenses, including interest expense. In addition, our use of the Non-GAAP Measures may not be comparable to similarly titled measures of other companies because they may not calculate the Non-GAAP Measures in the same manner, limiting their usefulness as a comparative measure. Because of these limitations, when evaluating our performance, you should consider the Non-GAAP Measures alongside other financial measures, including our net income (loss) and other results stated in accordance with U.S. GAAP, and (5) Free cash flow does not represent the total residual cash flow available for discretionary purposes and does not reflect our future contractual commitments. The following table presents a reconciliation of Adjusted Net Income (Loss) to Net loss, the most directly comparable financial measure stated in accordance with U.S. GAAP, and the calculation of net loss margin, Adjusted Net Loss Margin and Adjusted Net Loss Per Common Share for the periods presented: Adjusted Net Income (Loss) Three Months Ended March 31, Fiscal Year Ended March 31, 2025 2024 2025 2024 (in thousands, except per share data) Net Loss $ (6,067 ) $ (4,903 ) $ (32,878 ) $ (37,010 ) Stock compensation expense 2,964 2,421 12,735 12,931 Change in fair value of warrants and derivatives (130 ) (521 ) 521 (2,738 ) Sales and use tax income (1) (418 ) (332 ) (2,417 ) (487 ) Restructuring 1,215 117 3,829 1,660 Gain on extinguishment of debt — — — (1,828 ) Litigation expenses (2) 733 80 1,839 175 Warehouse restructuring costs 1,448 654 4,738 814 Impairment of assets 1,457 — 3,599 3,079 Technology modernization (3) 650 684 2,400 684 Other items (4) 488 1,315 1,316 2,698 Adjusted net income (loss) $ 2,340 $ (485 ) $ (4,318 ) $ (20,022 ) Net loss margin (5.26 )% (4.04 )% (6.79 )% (7.55 )% Adjusted net income (loss) margin 2.03 % (0.40 )% (0.89 )% (4.08 )% Adjusted net income (loss) per common share - basic and diluted $ 0.01 $ — $ (0.02 ) $ (0.11 ) Weighted average common shares used to compute adjusted net loss per share attributable to common stockholders - basic and diluted 173,812,960 175,479,974 174,399,565 177,260,581 The following table presents a reconciliation of Adjusted EBITDA to net loss, the most directly comparable financial measure stated in accordance with U.S. GAAP, and the calculation of net loss margin and Adjusted EBITDA margin for the periods presented: Adjusted EBITDA Three Months Ended March 31, Fiscal Year Ended March 31, 2025 2024 2025 2024 (in thousands) (in thousands) Net Loss $ (6,067 ) $ (4,903 ) $ (32,878 ) $ (37,010 ) Interest income (915 ) (1,682 ) (4,926 ) (7,533 ) Interest expense 714 704 2,788 4,351 Depreciation and amortization expense 2,838 3,703 11,222 12,602 Stock compensation expense 2,964 2,421 12,735 12,931 Change in fair value of warrants and derivatives (130 ) (522 ) 521 (2,738 ) Cloud computing amortization 248 — 594 — Sales and use tax income (1) (418 ) (332 ) (2,417 ) (487 ) Restructuring 1,215 117 3,829 1,660 Gain on extinguishment of debt — — — (1,828 ) Litigation expenses (2) 733 80 1,839 175 Warehouse restructuring costs 1,448 654 4,738 814 Impairment of assets 1,457 — 3,599 3,079 Technology modernization (3) 650 684 2,400 684 Other items (4) 488 1,315 1,316 2,698 Adjusted EBITDA $ 5,225 $ 2,239 $ 5,360 $ (10,602 ) Net loss margin (5.26 )% (4.04 )% (6.79 )% (7.55 )% Adjusted EBITDA margin 4.53 % 1.84 % 1.11 % (2.16 )% (1) Sales and use tax expense relates to recording a liability for sales and use tax we did not collect from our customers. Historically, we had collected state or local sales, use, or other similar taxes in certain jurisdictions in which we only had physical presence. On June 21, 2018, the U.S. Supreme Court decided, in South Dakota v. Wayfair, Inc., that state and local jurisdictions may, at least in certain circumstances, enforce a sales and use tax collection obligation on remote vendors that have no physical presence in such jurisdiction. A number of states have positioned themselves to require sales and use tax collection by remote vendors and/or by online marketplaces. The details and effective dates of these collection requirements vary from state to state and accordingly, we recorded a liability in those periods in which we created economic nexus based on each state's requirements. Accordingly, we now collect, remit, and report sales tax in all states that impose a sales tax. Subsequently, as certain of these liabilities are waived by tax authorities or the applicable statute of limitations expires, the related accrued liability is reversed. (2) Litigation expenses related to a shareholder class action complaint, see Item 3. Legal Proceedings in the Company's annual report on Form 10-K. (3) Includes consulting fees related to technology transformation activities, and payroll costs for employees that dedicate significant time to this project. We believe that these costs are discrete and non-recurring in nature, as they relate to a one-time unification of our product offerings on our new commerce platform. As such, they are not normal, recurring operating expenses and are not reflective of ongoing trends in the cost of doing business. (4) For the three months ended March 31, 2025, other items is comprised of executive transition costs including recruiting costs of $0.4 million, costs associated with the share repurchase program of $0.1 million, and duplicate headquarters rent of less than $0.1 million. For the three months ended March 31, 2024 other items is comprised of executive transitions costs of $0.9 million, non-recurring retention payments to management of $0.4 million, and duplicate headquarters rent of less than $0.1 million. For the twelve months ended March 31, 2025, other items is comprised of executive transition costs including recruiting costs of $0.8 million, costs associated with the share repurchase program of $0.4 million, and duplicate headquarters rent of less than $0.1 million. For the twelve months ended March 31, 2024, other items is comprised of non-recurring retention payments of $1.4 million, executive transition costs including recruiting costs of $1.3 million, and duplicate headquarters rent of less than $0.1 million. The following table presents a reconciliation of Free Cash Flow to Net cash used in operating activities, the most directly comparable financial measure prepared in accordance with U.S. GAAP, for each of the periods indicated: Free Cash Flow Three Months Ended March 31, Fiscal Year Ended March 31, 2025 2024 2025 2024 Free cash flow reconciliation: Net cash provided by (used in) operating activities $ (10,258 ) $ (1,042 ) $ (7,079 ) $ 6,060 Capital expenditures (1,729 ) (2,132 ) (6,157 ) (8,831 ) Free cash flow $ (11,987 ) $ (3,174 ) $ (13,236 ) $ (2,771 ) View source version on Contacts Investors:Michael Mougiasinvestors@ Media:Garland Harwoodpress@
Yahoo
14-05-2025
- Business
- Yahoo
BARK Air Celebrates First Anniversary with New Routes and Private Charters
Dog-first airline expands U.S. and European presence and strengthens offering with private charter services amid growing demand for premium, dog-friendly hospitality NEW YORK, May 14, 2025--(BUSINESS WIRE)--BARK (NYSE: BARK), a leading global omnichannel dog brand with a mission to make all dogs happy, today announced expanded routes and new services for BARK Air, the first airline designed entirely around the comfort of dogs and the humans who love them. Celebrating its first year in the skies, BARK Air is deepening its commitment to dog-first air travel by offering more domestic and international flights and the introduction of private charters, bringing more flexibility, freedom, and comfort for its passengers. BARK Air took flight in May 2024 with service between New York, Los Angeles, and London. Since then, the airline has expanded to Paris, Lisbon, Madrid, Seattle, South Florida, and San Francisco, making it even easier for more dogs to fly comfortably alongside their parents. Over the past year, BARK Air has flown more than 1,000 dogs across 142 flights and nearly 400,000 miles, including a handful of free flights for dogs in need—such as an LA County evacuation that helped relieve wildfire-overwhelmed shelters. In response to high demand, including frequent sellouts and a 12% passenger return rate, BARK Air has also increased frequency on its core routes. For journeys that require more flexibility, BARK Air offers private charters—now available for booking. Ideal for relocating long distances, planning once-in-a-lifetime getaways, or simply connecting to a scheduled departure from a BARK Air hub, dogs and their humans can now enjoy their own dedicated aircraft. With custom routes and unmatched comfort, every charter ensures a seamless, stress-free experience tailored to the needs of both pups and their people. "When we launched BARK Air last year, our goal was to challenge the norms of dog travel by creating an experience that treats dogs not as cargo, but as VIP guests," said Matt Meeker, Co-Founder and Chief Executive Officer of BARK. "One year later, we're proud to have delivered on that promise, offering thousands of dogs and their humans a stress-free, joy-filled way to explore the world together. This milestone is a testament to our unwavering belief that dogs deserve better—and our commitment to building a dog-first future doesn't stop here. We're just getting started." At the heart of BARK Air is a hospitality model that puts dogs first. Every journey begins with a concierge team dedicated to understanding each dog's unique needs, from temperament to travel history to their favorite music. Whether preparing in-flight treats, providing calming aids, or navigating international travel logistics and protocols, the experience is designed to be seamless, thoughtful, and bring shared joy to dogs and their humans. More than a service, BARK Air is a new standard in how dogs and their humans explore the world together. To explore routes or to book a private charter, visit and follow @barkair on Instagram. About BARK BARK is the world's most dog-centric company, devoted to making all dogs happy with the best products, services, and content. BARK's dog-obsessed team leverages its unique, data-driven understanding of what makes each dog special to design playstyle-specific toys, wildly satisfying treats, dog-first experiences that foster the health and happiness of dogs everywhere, and more. Founded in 2011, BARK loyally serves millions of dogs nationwide with BarkBox and Super Chewer, its themed toys and treats subscriptions; custom product collections through its retail partner network, including Target, Chewy, and Amazon; and BARK Air, the first air travel experience designed specifically for dogs first. At BARK, we want to make dogs as happy as they make us because dogs and humans are better together. Sniff around at for more information. View source version on Contacts Investors:Michael Mougiasinvestors@ MediaGarland Harwoodpress@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
14-05-2025
- Business
- Business Wire
BARK Air Celebrates First Anniversary with New Routes and Private Charters
NEW YORK--(BUSINESS WIRE)-- BARK (NYSE: BARK), a leading global omnichannel dog brand with a mission to make all dogs happy, today announced expanded routes and new services for BARK Air, the first airline designed entirely around the comfort of dogs and the humans who love them. Celebrating its first year in the skies, BARK Air is deepening its commitment to dog-first air travel by offering more domestic and international flights and the introduction of private charters, bringing more flexibility, freedom, and comfort for its passengers. BARK Air took flight in May 2024 with service between New York, Los Angeles, and London. Since then, the airline has expanded to Paris, Lisbon, Madrid, Seattle, South Florida, and San Francisco, making it even easier for more dogs to fly comfortably alongside their parents. Over the past year, BARK Air has flown more than 1,000 dogs across 142 flights and nearly 400,000 miles, including a handful of free flights for dogs in need—such as an LA County evacuation that helped relieve wildfire-overwhelmed shelters. In response to high demand, including frequent sellouts and a 12% passenger return rate, BARK Air has also increased frequency on its core routes. For journeys that require more flexibility, BARK Air offers private charters—now available for booking. Ideal for relocating long distances, planning once-in-a-lifetime getaways, or simply connecting to a scheduled departure from a BARK Air hub, dogs and their humans can now enjoy their own dedicated aircraft. With custom routes and unmatched comfort, every charter ensures a seamless, stress-free experience tailored to the needs of both pups and their people. 'When we launched BARK Air last year, our goal was to challenge the norms of dog travel by creating an experience that treats dogs not as cargo, but as VIP guests,' said Matt Meeker, Co-Founder and Chief Executive Officer of BARK. 'One year later, we're proud to have delivered on that promise, offering thousands of dogs and their humans a stress-free, joy-filled way to explore the world together. This milestone is a testament to our unwavering belief that dogs deserve better—and our commitment to building a dog-first future doesn't stop here. We're just getting started.' At the heart of BARK Air is a hospitality model that puts dogs first. Every journey begins with a concierge team dedicated to understanding each dog's unique needs, from temperament to travel history to their favorite music. Whether preparing in-flight treats, providing calming aids, or navigating international travel logistics and protocols, the experience is designed to be seamless, thoughtful, and bring shared joy to dogs and their humans. More than a service, BARK Air is a new standard in how dogs and their humans explore the world together. To explore routes or to book a private charter, visit and follow @barkair on Instagram. About BARK BARK is the world's most dog-centric company, devoted to making all dogs happy with the best products, services, and content. BARK's dog-obsessed team leverages its unique, data-driven understanding of what makes each dog special to design playstyle-specific toys, wildly satisfying treats, dog-first experiences that foster the health and happiness of dogs everywhere, and more. Founded in 2011, BARK loyally serves millions of dogs nationwide with BarkBox and Super Chewer, its themed toys and treats subscriptions; custom product collections through its retail partner network, including Target, Chewy, and Amazon; and BARK Air, the first air travel experience designed specifically for dogs first. At BARK, we want to make dogs as happy as they make us because dogs and humans are better together. Sniff around at for more information.
