Bark, Inc. Files Q3 FY25 10-Q Report
Ticker: BARKW · Form: 10-Q · Filed: Feb 5, 2025 · CIK: 1819574
Sentiment: neutral
Topics: 10-Q, earnings, financials
TL;DR
Bark's Q3 FY25 10-Q is in. Check financials.
AI Summary
Bark, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the third quarter of fiscal year 2025. Key financial data and business operations for this period are detailed within the report.
Why It Matters
This filing provides investors with an update on Bark's financial performance and operational status for the third quarter of its fiscal year 2025, crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information and business updates which can significantly impact investor decisions and stock price.
Key Numbers
- Q3 2025 — Fiscal Quarter (Reporting period for the 10-Q)
- 0331 — Fiscal Year End (Company's fiscal year end date)
Key Players & Entities
- Bark, Inc. (company) — Filer of the 10-Q report
- 2024-12-31 (date) — End of the reporting period
- 20250205 (date) — Filing date
- Northern Star Acquisition Corp. (company) — Former company name
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is for the fiscal quarter ending December 31, 2024, which is the third quarter of fiscal year 2025.
When was this 10-Q filed with the SEC?
This 10-Q filing was made on February 5, 2025.
What was Bark, Inc.'s former company name?
Bark, Inc. was formerly known as Northern Star Acquisition Corp. prior to a name change on July 29, 2020.
What is Bark, Inc.'s primary 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, which falls under RETAIL-RETAIL STORES, NEC.
Filing Stats: 4,792 words · 19 min read · ~16 pages · Grade level 17.6 · Accepted 2025-02-05 17:08:01
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. TABLE OF CONT
Filing Documents
- bark-20241231.htm (10-Q) — 1350KB
- 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
- 0001819574-25-000011.txt ( ) — 5998KB
- bark-20241231.xsd (EX-101.SCH) — 38KB
- bark-20241231_cal.xml (EX-101.CAL) — 55KB
- bark-20241231_def.xml (EX-101.DEF) — 187KB
- bark-20241231_lab.xml (EX-101.LAB) — 521KB
- bark-20241231_pre.xml (EX-101.PRE) — 361KB
- bark-20241231_htm.xml (XML) — 704KB
Financial Information
PART I. Financial Information 1
Financial Statements (Unaudited)
ITEM 1. Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations and Comprehensive Loss 2 Condensed Consolidated Statements of Changes in Stockholders' Equity 3 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20
Quantitative and Qualitative Disclosures about Market Risk
ITEM 3. Quantitative and Qualitative Disclosures about Market Risk 37
Controls and Procedures
ITEM 4. Controls and Procedures 37
Other Information
PART II. Other Information 38
Legal Proceedings
ITEM 1. Legal Proceedings 38
Risk Factors
ITEM 1A. Risk Factors 38
Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 52
Defaults Upon Senior Securities
ITEM 3. Defaults Upon Senior Securities 52
Mine Safety Disclosures
ITEM 4. Mine Safety Disclosures 53
Other Information
ITEM 5. Other Information 53
Exhibits
ITEM 6. Exhibits 53
Signatures
Signatures 55 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This quarterly report on Form 10-Q, including, without limitation, statements under the headings "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," 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, the sufficiency of our cash and cash equivalents for our continued operations, 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 quarterly report on Form 10-Q 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 (many 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
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS BARK, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) (Unaudited) December 31, March 31, 2024 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 115,259 $ 125,495 Accounts receivable—net 11,415 7,696 Prepaid expenses and other current assets 12,371 4,379 Inventory 90,360 84,177 Total current assets 229,405 221,747 PROPERTY AND EQUIPMENT—NET 22,070 25,540 INTANGIBLE ASSETS—NET 7,428 11,921 OPERATING LEASE RIGHT-OF-USE ASSETS 29,283 32,793 OTHER NONCURRENT ASSETS 4,006 6,587 TOTAL ASSETS $ 292,192 $ 298,588 LIABILITIES, AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 27,086 $ 13,737 Operating lease liabilities, current 5,668 5,294 Accrued and other current liabilities 41,795 30,490 Deferred revenue 23,524 25,957 Current portion of long-term debt 42,461 — Total current liabilities 140,534 75,478 LONG-TERM DEBT — 39,926 OPERATING LEASE LIABILITIES 38,306 42,599 OTHER LONG-TERM LIABILITIES 314 1,202 Total liabilities 179,154 159,205 COMMITMENTS AND CONTINGENCIES (Note 8) STOCKHOLDERS' EQUITY: Common stock, par value $ 0.0001 per share— 500,000,000 shares authorized; 183,965,936 and 180,176,725 shares issued 1 1 Treasury stock, at cost, 9,869,120 and 4,643,589 shares, respectively ( 14,248 ) ( 6,225 ) Additional paid-in capital 500,953 492,427 Accumulated deficit ( 373,668 ) ( 346,820 ) Total stockholders' equity 113,038 139,383 TOTAL LIABILITIES, AND STOCKHOLDERS' EQUITY $ 292,192 $ 298,588 See notes to condensed consolidated financial statements 1 BARK, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands, except share and per share data) (Unaudited) Three Months Ended Nine Months Ended December 31, December 31, December 31, December 31, 2024 2023 2024 2023 REVENUE $ 126,449 $ 125,075 $ 368,772 $ 368,700 COST OF REVENUE 47,189 47,831 140,134 142,779 Gross profit 79,260 77,244 228,638 2