Overview
Dog-centric company's fiscal Q3 revenue missed analyst expectations
Adjusted EBITDA for fiscal Q3 beat analyst expectations
Company repaid outstanding convertible notes, becoming debt-free
Outlook
Company will not provide fourth-quarter guidance due to ongoing evaluations
Result Drivers
MARKETING SPEND REDUCTION - BARK reduced marketing investment by 41.3% to focus on profitability, impacting revenue but improving customer acquisition costs
GROSS MARGIN IMPROVEMENT - Both Direct-to-Consumer and Commerce gross margins improved year-over-year, despite lower revenue
REVENUE MIX DIVERSIFICATION - Commerce and BARK Air represented 22.5% of total revenue, contributing to a more diversified revenue mix
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $98.40 mln | $104.13 mln (3 Analysts) |
Q3 Net Income | -$8.60 mln | ||
Q3 Adjusted EBITDA | Beat | -$1.60 mln | -$2.58 mln (3 Analysts) |
Q3 Gross Profit | $61.60 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the miscellaneous specialty retailers peer group is "buy"
Wall Street's median 12-month price target for Bark Inc is $2.00, about 138.6% above its February 4 closing price of $0.84
Press Release: ID:nBw6Qqd5za
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)