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Dec 31, 2024
Bark Q3 2025 Earnings Report
Bark reported its fiscal third quarter 2025 results, exceeding revenue expectations and showing continued improvement in Adjusted EBITDA.
Key Takeaways
BARK, Inc. reported total revenue of $126.4 million for the fiscal third quarter ended December 31, 2024, surpassing its guidance range. The company achieved its tenth consecutive year-over-year improvement in Adjusted EBITDA, which was $(1.6) million. Commerce revenue saw a significant increase of 43.5% year-over-year.
Total revenue reached $126.4 million, exceeding the company's guidance and marking a 1.1% year-over-year increase.
Commerce revenue surged by 43.5% year-over-year, reaching $20.3 million, driven by new partnerships and expanded shelf space.
Adjusted EBITDA improved by $4.9 million year-over-year, coming in at $(1.6) million, within the guidance range.
Gross Margin increased to 62.7%, up 90 basis points compared to the same period last year.
Bark
Bark
Bark Revenue by Segment
Revenue by Segment
Direct to Consumer Revenue
CapyFin.comCommerce Revenue
CapyFin.com Forward Guidance
BARK reaffirmed its fiscal year 2025 guidance for total revenue and Adjusted EBITDA, and provided guidance for the fiscal fourth quarter 2025.
Positive Outlook
- Fiscal year 2025 total revenue guidance of $490 million to $500 million, reflecting flat to 2.0% year-over-year growth.
- Fiscal year 2025 Adjusted EBITDA guidance of $1.0 million to $5.0 million, an improvement of $11.6 million to $15.6 million year-over-year.
- Fourth quarter fiscal 2025 total revenue expected to be $121.2 million to $131.2 million, reflecting year-over-year growth of (0.2)% to 8.0%.
- Fourth quarter fiscal 2025 Adjusted EBITDA expected to be $0.9 million to $4.9 million, reflecting a year-over-year increase of $(1.3) million to $2.7 million.
- The company is on track to achieve its first full year of positive Adjusted EBITDA next month.
Challenges Ahead
- Potential variability in the timing of commerce shipments could shift revenue from fiscal fourth quarter to first quarter of fiscal 2026.
- Potential variability in the company's marketing investment.
- Guidance for Net Loss is not provided due to uncertainty and variability of stock-based compensation expenses and related tax effects.
- The company's ability to efficiently acquire new subscriptions at a lower customer acquisition cost may lead to increased marketing investment.
- The forward-looking statements are subject to risks and uncertainties, including those related to projected financial information and spending on pets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income