BARK, Inc. (NYSE: BARK) Q4 2025 Earnings Call | 6/4/2025

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BARK, Inc. (NYSE: BARK) reported Q4 2025 results on June 4, 2025, marking its first full year of positive adjusted EBITDA. Fourth quarter revenue was $115.4 million, down 5% year-over-year and below expectations, reflecting deliberate reductions in marketing spend and ongoing tariff-related uncertainty. Despite the revenue dip, gross margin reached a record 63.6% in Q4 and 62.4% for the full year, driven by improved unit costs and supply chain optimization. Commerce revenue surged 26.5% to $15.4 million in Q4 and 27.2% for the year to $68.3 million, fueled by new partnerships and expanded shelf space. The Bark Air service generated nearly $6 million in its launch year, highlighting successful diversification beyond the subscription box model. Adjusted EBITDA was $5.2 million in Q4 and $5.4 million for the year—both company records. Net loss for Q4 was $6.1 million, mainly due to a non-cash software impairment, while the full-year net loss narrowed to $32.9 million from $37.0 million in 2024. The direct-to-consumer segment faced headwinds from reduced marketing, impacting subscriber growth. Tariffs on Chinese imports, especially toys (about two-thirds of revenue), remain a significant cost challenge, with some rates as high as 145%. Given macroeconomic and tariff uncertainty, BARK declined to provide full-year fiscal 2026 guidance but emphasized ongoing productivity and sourcing initiatives to help offset tariff impacts. Outlook: No full-year 2026 guidance due to tariff and macroeconomic volatility. Focus remains on margin expansion, commerce growth, and further revenue diversification. CEO Matt Meeker highlighted the company’s first full year of positive adjusted EBITDA and a clear plan to diversify revenue, maintain strong margins, and deliver long-term value through new products, channels, and services. About Inside Ticker: For more expert analysis and real-time updates on BARK, Inc. (NYSE: BARK) and other market movers, follow Inside Ticker and visit InsideTicker.com for in-depth reports, financial insights, and the latest news on leading companies. #BARK #BARKInc #EarningsCall #Q42025 #DogProducts #SubscriptionBox #EBITDA #Tariffs #StockMarket #Investing #InsideTicker