Bark Q4 2025 Earnings Report
Key Takeaways
BARK reported a decrease in total revenue in Q4 Fiscal Year 2025 compared to the previous year, primarily due to reduced marketing spend and timing delays in retail shipments. However, the company achieved its best-ever quarterly Adjusted EBITDA and its first full year of positive Adjusted EBITDA.
Total revenue for Q4 FY2025 was $115.4 million, a 5.0% decrease year-over-year.
Commerce revenue increased by 26.5% year-over-year to $15.4 million in Q4 FY2025.
Gross Margin improved to 63.6% in Q4 FY2025 compared to 62.7% in the same period last year.
Adjusted EBITDA for Q4 FY2025 was $5.2 million, a significant improvement from the prior year.
Bark
Bark
Bark Revenue by Segment
Forward Guidance
For the first quarter of fiscal 2026, BARK expects total revenue between $99.0 million and $101.0 million and Adjusted EBITDA between $(1.0) million and $1.0 million. The company will not provide full-year guidance due to tariff uncertainty.
Positive Outlook
- Adjusted EBITDA is expected to improve year-over-year at the midpoint of the guidance range.
- Company is focused on executing strategic initiatives.
- BARK remains focused on delivering long-term value.
- Evaluating market conditions for future updates.
- Adjusted EBITDA guidance provided.
Challenges Ahead
- Total revenue is expected to decline year-over-year due to reduced DTC marketing.
- Lower growth in Commerce revenue anticipated due to retail partners delaying orders due to tariffs.
- Ongoing uncertainty surrounding potential tariffs and their impact on demand and costs.
- No full-year guidance provided due to uncertainty.
- Cannot provide a reconciliation of Adjusted EBITDA to Net Loss due to uncertainty of certain items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income