BARK, Inc. Earnings Call Transcripts
Fiscal Year 2026
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The meeting covered director elections, auditor ratification, executive compensation, and a reverse stock split amendment, all of which were approved. Stockholders could submit questions, and official voting results will be published on Form 8-K.
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Revenue fell below guidance at $98.4M due to reduced marketing, but gross margin improved to 62.5%. Free cash flow turned positive, and the company exited the quarter debt-free, focusing on profitability, efficiency, and higher-quality customers.
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Q2 FY26 revenue reached $107M, exceeding guidance, with strong commerce and BARK Air growth. The company became debt-free after repaying a $45M note, maintained cost discipline, and expects improving gross margins and continued diversification despite tariff headwinds.
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Revenue exceeded guidance at $102.9 million, with strong growth in commerce and BARK Air, and record D2C gross margin. Positive adjusted EBITDA was achieved despite macro and tariff headwinds, and new product launches and retail expansion are set to drive further diversification.
Fiscal Year 2025
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A new Amazon partnership has improved delivery speed, reduced costs, and expanded revenue opportunities, while also enabling seven-day delivery and deeper integration as a first-party seller. These changes have driven significant margin improvements and EBITDA positivity.
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EBITDA turned positive with stable cash flows, and revenue diversification is underway through a major consumables launch and commerce expansion. Manufacturing and shipping changes are mitigating tariff and cost pressures, while marketing is being reallocated to higher-growth areas. Growth and profitability are expected to strengthen over the next two to three years.
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Delivered first-ever full year of positive adjusted EBITDA and record gross margins, despite a 1.2% revenue decline due to tariffs and softer consumer sentiment. Commerce and BARK Air segments drove growth, while D2C subscriptions declined.
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Revenue grew 1% year-over-year to $126.4M, with commerce up 43% and B2C down 4%. Adjusted EBITDA improved by $4.9M year-over-year, and the company is on track for its first full year of positive adjusted EBITDA. Fiscal 2026 is expected to see mid to high single-digit top-line growth.
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Management is focused on sustaining profitability and accelerating growth through expanded retail and e-commerce channels, a unified DTC platform, and the new BARK Air airline venture. Q3 revenue exceeded guidance, and mid- to high single-digit growth is expected next year.
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Q2 revenue grew 2.5% year-over-year to $126.1 million, led by 26% growth in the commerce segment and record adjusted EBITDA. The company is on track for its first full year of profitability, with strong cash reserves and continued investment in retail and digital expansion.
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Q1 revenue exceeded guidance at $116.2M, with record gross margin and improved Adjusted EBITDA. Commerce and D2C segments showed growth, BARK Air launched, and share buybacks continued. FY25 guidance reaffirmed, with profitability and free cash flow expected for the first time.
Fiscal Year 2024
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Delivered strong margin and cash flow improvements, ending fiscal 2024 with $125M in cash and two positive adjusted EBITDA quarters. Fiscal 2025 is guided to be the first full year of positive adjusted EBITDA, with growth expected to accelerate in 2026 as new retail and consumables initiatives scale.