BARK Q3 revenue $134.3M inline; first positive free cash flow; cuts 12% workforce for $12M annual savings

Bark, Inc.

2023-Q3 EPS reported -$0.27 revenue$409,298,000

Revenue $134.3M (-5% YoY), in line with guidance; DTC revenue up 1.7% to $120.1M, AOV $33.10 (+$2.00 YoY).
Gross margin 59.7% (up 400 bps YoY); positive free cash flow of $331k for first time since IPO (June 2021).
Net loss $(21.3)M vs $(13.2)M YoY; Adjusted EBITDA $(12.8)M, improved from $(18.3)M YoY.
Reducing workforce by ~12% (126 employees) to generate ~$12M annual cost savings; expects $2M charge in Q4.
FY2023 revenue guidance lowered to $530M from $556M; Adj EBITDA guidance unchanged at $(31)M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Bark, Inc. reported fiscal third quarter ended December 31, 2022 results: revenue $134.3 million, net income $(21.3) million. Guidance reaffirmed.

Period: fiscal third quarter ended December 31, 2022
Revenue: $134.3 million
Net income: $(21.3) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

quarter ended December 31, 2022. Key Highlights • Achieved positive operating cash flow of $5.1 million and free cash flow of $331,000. • Delivered fiscal Q3 2023 revenue of $134.3 million, in line with the Company's guidance. • Average order value was $33.10, up $2.00 compared to the same period last year. • Reported consolidated gross margin of nearly 60%, up 400

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Source: SEC EDGAR

accession 0001628280-23-002951

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