Bark Stock Slides On Q4 Earnings Miss, Provides FY23 Guidance

  • Bark Inc BARK reported fourth-quarter revenue increased 15% year-over-year to $128.8 million, beating the consensus of $126.7 million.
  • Direct to Consumer revenue was $117.8 million (+16% Y/Y), and Commerce revenue was $11.1 million (+1% Y/Y).
  • The Gross margin was 50% compared to 61% in 4Q21. The decrease was related to the inventory charges.
  • The Average Order Value for the quarter was $30.14 vs. $29.25 a year ago.
  • Adjusted EPS was $(0.15), below the consensus of $(0.05).
  • G&A expenses were $85.5 million compared to $55.6 million in the prior year, reflecting a 13% increase in subscription shipments, additional shipping and fulfillment, incremental headcount and technology, and incremental costs associated with being a public company.
  • Adjusted EBITDA was $(23.1) million compared to $0.2 million in the previous year.
  • Net cash used in operating activities for FY22 totaled $172.34 million, compared to $19.62 million in FY21.
  • Bark’s cash and cash equivalents balance as of March 31, 2022, was $199.4 million. The total debt outstanding was $79.2 million.
  • 1Q23 Outlook: Bark expects revenue of $130 million vs. a consensus of $138.5 million and Adjusted EBITDA of $(18) million.
  • FY23 Outlook: The company expects revenue of $556 million vs a consensus of $505.3 million and Adjusted EBITDA of $(36) million.
  • Price Action: BARK shares are trading lower by 4.40% at $2.39 during the post-market session on Tuesday.

Posted In: BriefsEarningsNewsPenny StocksGuidanceSmall Cap

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.