Bark, Inc. Files 2024 10-K
Ticker: BARKW · Form: 10-K · Filed: Jun 3, 2024 · CIK: 1819574
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
Bark's 2024 10-K is in, check financials and risks.
AI Summary
Bark, Inc. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its operations and financial condition. The company, formerly known as Northern Star Acquisition Corp., is based in New York and operates in the retail sector. This filing provides a comprehensive overview of Bark's business, financial performance, and risk factors for investors.
Why It Matters
This 10-K filing provides crucial financial and operational details for Bark, Inc., allowing investors and analysts to assess the company's performance and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company, Bark faces inherent market, operational, and financial risks detailed within its 10-K filing.
Key Numbers
- 0001819574 — Central Index Key (Unique identifier for Bark, Inc. with the SEC)
- 001-39691 — SEC File Number (SEC registration number for Bark, Inc.)
Key Players & Entities
- Bark, Inc. (company) — Filer of the 10-K
- Northern Star Acquisition Corp. (company) — Former name of Bark, Inc.
- New York (location) — Location of Bark, Inc.'s business and mailing address
- 20240331 (date) — Conformed period of report for the 10-K
FAQ
What was Bark, Inc.'s fiscal year end?
Bark, Inc.'s fiscal year end is March 31.
What was Bark, Inc.'s former company name?
Bark, Inc.'s former company name was Northern Star Acquisition Corp.
What is the filing date of this 10-K?
This 10-K filing was made on June 3, 2024.
What is Bark, Inc.'s business address?
Bark, Inc.'s business address is 120 Broadway, 12th Floor, New York, NY 10271.
What is the SIC code for Bark, Inc.?
The Standard Industrial Classification (SIC) code for Bark, Inc. is 5990 (RETAIL-RETAIL STORES, NEC).
Filing Stats: 4,534 words · 18 min read · ~15 pages · Grade level 12.5 · Accepted 2024-06-03 16:59:49
Key Financial Figures
- $0.0001 B — ich registered Common Stock, par value $0.0001 BARK New York Stock Exchange Warrants, e
- $11.50 — of Common Stock at an exercise price of $11.50 per share BARK WS New York Stock Exchan
- $0.0001 — registrant's common stock, par value of $0.0001 per share, outstanding. DOCUMENTS INCO
- $147 billion — d on pets in the U.S. was approximately $147 billion in 2023, an increase of over $10 billio
- $10 b — 47 billion in 2023, an increase of over $10 billion, or approximately 7%, compared to
- $38 million — customers. Total cross sell revenue was $38 million in fiscal 2024. We also sell toys thro
- $284.7 million — This category generated approximately $284.7 million of revenue in fiscal 2024, down 7% comp
- $54 m — driven by our DTC business, we derived $54 million, or 11.0% of our revenue from the
Filing Documents
- bark-20240331.htm (10-K) — 1815KB
- bark-insidertradingpolicyx.htm (EX-19) — 147KB
- consent-202410xk.htm (EX-23.1) — 2KB
- exhibit311-section302certi.htm (EX-31.1) — 12KB
- exhibit312-section302certi.htm (EX-31.2) — 12KB
- exhibit313-section302certi.htm (EX-31.3) — 12KB
- exhibit321-section906certi.htm (EX-32.1) — 5KB
- exhibit322-section906certi.htm (EX-32.2) — 5KB
- exhibit323-section906certi.htm (EX-32.3) — 5KB
- barkclawbackpolicyoctober2.htm (EX-97) — 24KB
- bark-20240331_g1.jpg (GRAPHIC) — 202KB
- image_0.jpg (GRAPHIC) — 401KB
- image_1.jpg (GRAPHIC) — 202KB
- 0001819574-24-000025.txt ( ) — 10519KB
- bark-20240331.xsd (EX-101.SCH) — 61KB
- bark-20240331_cal.xml (EX-101.CAL) — 92KB
- bark-20240331_def.xml (EX-101.DEF) — 329KB
- bark-20240331_lab.xml (EX-101.LAB) — 800KB
- bark-20240331_pre.xml (EX-101.PRE) — 566KB
- bark-20240331_htm.xml (XML) — 1143KB
Risk Factors
Item 1A. Risk Factors 9
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 24
C . C yberse curity
Item 1 C . C yberse curity 24
Properties
Item 2. Properties 25
Legal Proceedings
Item 3. Legal Proceedings 25
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 26 Part II. 27
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27
[Reserved]
Item 6. [Reserved] 28
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 29
Quantitative and Qualitative Disclosures About Market Risk
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 49
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 49
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 35
Controls and Procedures
Item 9A. Controls and Procedures 36
Other Information
Item 9B. Other Information 36
Disclosures Regarding Foreign Jurisdictions That Prevent Inspections
Item 9C. Disclosures Regarding Foreign Jurisdictions That Prevent Inspections 36 Part III. 36
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 36
Executive Compensation
Item 11. Executive Compensation 38
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 39
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 39
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 39 Part IV. 39
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 40
Form 10-K Summary
Item 16. Form 10-K Summary 43
Signatures
Signatures 44 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K, including, without limitation, statements under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations," includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "potential," "projects," "predicts," "continue," "could" or "should," or, in each case, their negative or other variations or comparable terminology. There can be no assurance that actual results will not materially differ from expectations. Such statements include, but are not limited to, any statements relating to our financial and business performance, market acceptance and the anticipated success of our business model, and our ability to expand the scope of our offerings. These statements are based on management's current expectations, but actual results may differ materially due to various factors. The forward-looking statements contained in this annual report on Form 10-K are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under Part I, Item 1A: "Risk Factors." Should one or m
BUSINESS
ITEM 1. BUSINESS Unless otherwise expressly stated or the context otherwise requires, when we refer to "we," "our," "us," or "BARK" in this annual report on Form 10-K, we mean BARK, Inc. and its consolidated subsidiaries. Overview Our mission is to make all dogs happy We believe that dogs and humans are better together and we aspire to be the world's favorite dog brand. We are a team of dog-obsessed people committed to delivering personalization at scale by satisfying each dog's distinct personality, preferences, and needs with the best products and services. Since our founding in 2011, we have happily served millions of dogs and their people. We are a vertically integrated, omnichannel brand serving dogs across two key categories: toys & accessories and consumables. All of our products are designed, developed, and branded BARK. We leverage an ever-growing 3 Table of Contents collection of first-party data, customer insights, and machine learning to deliver personalized products and experiences tailored to the needs of each and every dog we serve. Our products are sold Direct-to-Consumer ("DTC") and through our network of retail partners, which currently spans over 40,000 doors nationwide. We began our journey with BarkBox – a monthly-themed subscription of toys and treats, tailored to the needs of each customer based on their dog's size, play style, allergies, and more. By viewing each dog as an individual, and by creating magical experiences for our customers, we have been able to build lasting relationships with millions of dogs and their parents. Our customer service ("Happy Team") proactively engages around 200,000 customers each month. We use the valuable data from these customer interactions to inform the design and development of future products, and we leverage it along with machine learning technology to recommend additional products to our customers through cross-selling and Add-to-Box ("ATB"). More recently, we have entered exciting, and much