Business Wire·Feb 5, 2026, 4:05 PM ET

BARK Reports Third Quarter Fiscal Year 2026 Results

BARK

BARK, Inc. fully repaid its $45 million 2025 Convertible Notes in cash, leaving the company debt-free.
Third quarter fiscal 2026 total revenue was $98.4 million, a 22.1% decrease year-over-year due to reduced marketing spend & fewer subscriptions carried into the quarter.
The company reduced marketing investment by 41.3% to prioritize profitability, resulting in its lowest customer acquisition cost in nearly three years.
Direct-to-Consumer gross margin increased to 66.4% (up 10 basis points), while Commerce gross margin rose to 46.3% (up 230 basis points).
Net loss for the quarter was $8.6 million, an improvement from $11.5 million in the prior year period.
Adjusted EBITDA was $1.6 million loss, which fell within the company's guidance range of $5.0 million to $1.0 million loss.
The company generated $1.6 million in free cash flow as inventory levels normalized.
Cash and cash equivalents balance was $21.7 million as of December 31, 2025, following the debt repayment.
Inventory balance decreased by $9.7 million to $91.4 million during the quarter.
General and administrative expenses were $54.5 million, down from $64.1 million in the prior year due to strong cost management & lower volumes.
BARK Air & Commerce segments combined represented 22.5% of total revenue for the quarter.
The company extended its $35 million line of credit with Western Alliance Bank on January 30, 2026, with a maturity date of March 2, 2026.
BARK will not provide fourth quarter fiscal 2026 guidance while a Special Committee evaluates preliminary non-binding indicative proposal letters received.
A conference call to discuss results was held on February 5, 2026, with no Q&A session due to the ongoing evaluation of potential proposals.