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BARK Reports Fiscal Fourth Quarter and Full Year 2026 Results

BARK
  • BARK, Inc. announced a $40 million share repurchase program to be funded by ongoing free cash flow.
  • Fiscal 2026 Q4 revenue was $86.6 million, down 25.0% year-over-year due to a deliberate $4.7 million reduction in marketing investment.
  • Full-year 2026 revenue totaled $394.8 million, an 18.5% decrease, driven by a $24.5 million cut in marketing spend amid tariff pressures.
  • Direct-to-Consumer revenue declined 26.0% in Q4 & 21.9% for the full year, while Commerce revenue grew as a share of total revenue.
  • Gross margin fell to 62.7% in Q4 & 61.3% for the full year, primarily due to increased tariffs & a higher proportion of lower-margin Commerce sales.
  • Net loss widened to $12.7 million in Q4 & $39.0 million for the full year, though Adjusted EBITDA remained positive at $3.2 million for Q4 & $0.2 million for the year.
  • The company exited its kibble & toppers product lines to focus on toys, treats, & experiences where it holds a competitive advantage.
  • Executive leadership confirmed the company began fiscal 2027 debt-free with a leaner cost structure & improved free cash flow profile.
  • Inventory decreased by $12.6 million to $75.5 million as of March 31, 2026, while cash & cash equivalents stood at $19.3 million.
  • Fiscal 2027 Q1 revenue is projected between $77.0 million & $79.0 million, with Adjusted EBITDA expected between $0.0 million & $1.0 million.
  • Full-year 2027 revenue guidance is set between $325.0 million & $340.0 million, with Adjusted EBITDA forecasted at $7.0 million to $10.0 million.
  • Commerce & BARK Air are expected to collectively generate over $100 million in revenue during fiscal 2027, representing a diversification strategy.
  • A conference call to discuss these results was scheduled for June 9, 2026, at 4:30 p.m. ET.