secwatch.observer — SEC 8-K summary
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Issuer:     Bark, Inc. (BARK)
CIK:        0001819574
Form:       8-K
Filed at:   2023-02-09T23:59:59+00:00
Accession:  0001628280-23-002951
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819574/000162828023002951/0001628280-23-002951-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819574/000162828023002951/bark-20230209.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-002951

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer