Content Detail

• Content META

  Title	BARK Reports Third Quarter Fiscal Year 2026 Results
  ID	30481315
  External ID	210500960
  Author
  Published Date	Feb. 5, 2026, 3:05 p.m.
  Summary	This is a paid press release. Contact the press release distributor directly with any inquiries. BARK Reports Third Quarter Fiscal Year 2026 Results Business Wire Thu, February 5, 2026 at 3:05 PM CST
  Tags
  URL	https://finance.yahoo.com/news/bark-reports-third-quarter-fiscal-210500960.html
  Sentiment	Negative: 0.94864    Neutral: 0.01960    Positive: 0.03175
  Relevance	0.03896

• Content Details

  Content ID	37766975
  Key	38d2a2c8-abba-4a1c-9cbb-1084cfe7d35d
  Content	This is a paid press release. Contact the press release distributor directly with any inquiries. BARK Reports Third Quarter Fiscal Year 2026 Results Business Wire Thu, February 5, 2026 at 3:05 PM CST 12 min read BARKW BARK NEW YORK, February 05, 2026 --( BUSINESS WIRE )--BARK, Inc. (NYSE:BARK): Third Quarter Fiscal Year 2026 Highlights Versus Prior Year Fully repaid the Company's outstanding 2025 Convertible Notes in cash, making BARK debt free. Total revenue was $98.4 million, below guidance, as the Company reduced marketing spend to focus on profitability. Direct-to-Consumer gross margin was 66.4%, up 10 basis points. Commerce gross margin was 46.3%, up 230 basis points. Net loss was $(8.6) million, versus $(11.5) million last year. Adjusted EBITDA was $(1.6) million, within the Company's guidance range. "As we approach the end of fiscal 2026, our priorities remain—running the business with discipline, protecting profitability, and continuing to diversify the ways we serve dog parents," said Matt Meeker, Co-Founder and Chief Executive Officer of BARK. "This quarter reflected that focus. We delivered adjusted EBITDA toward the high-end of our guidance range, generated positive free cash flow as inventory began to normalize, and continued to make progress across both Commerce and BARK Air, which now represent a meaningful and growing portion of our revenue mix. While revenue was impacted by a deliberate pullback in marketing spend, we’re seeing encouraging signs in customer quality, margin performance, and operational efficiency. Taken together, we believe these actions position BARK to exit the fiscal year as a leaner, more resilient, and more diversified company." Fiscal Third Quarter 2026 Highlights Revenue was $98.4 million, with Commerce and BARK Air representing 22.5% of total revenue. The Company also delivered its lowest customer acquisition cost quarter in nearly three years. Total revenue declined 22.1% year-over-year, primarily reflecting fewer total orders in the current period due to carrying fewer subscriptions into the quarter compared to the prior year. The Company also reduced its marketing investment by 41.3% versus last year, as it prioritized profitability in the current period. Direct to Consumer ("DTC") revenue was $79.6 million, a 25.0% decrease year-over-year, primarily due to carrying fewer subscriptions into the quarter compared to the prior year. Commerce revenue was $18.9 million, a 7.2% decrease year-over-year, partly related to timing of retail shipments. Gross profit was $61.6 million, a 22.3% decrease compared to last year. Gross margin was 62.5%, compared to 62.7% in the same period last year. The lower consolidated gross margin is driven by revenue mix. Both DTC and Commerce gross margin improved sequentially, and year-over-year. Advertising and marketing expenses were $16.1 million, compared to $27.4 million in the previous year. General and administrative ("G&A") expenses were $54.5 million, compared to $64.1 million in the prior year, partly driven by lower volumes and partly from the continuing trend of strong cost management. Net loss was $(8.6) million, compared to a net loss of $(11.5) million in the previous year. Adjusted EBITDA was $(1.6) million, was within the Company's guidance range of $(5.0) million to $(1.0) million, and in-line with last year, notwithstanding lighter revenue in the current period. Net cash provided by operating activities was $1.7 million. Free cash flow, defined as net cash used in operating activities less capital expenditures, was $1.6 million. Story Continues Balance Sheet Highlights The Company’s cash and cash equivalents balance as of December 31, 2025 was $21.7 million reflecting the full repayment of the Company's $45 million 2025 Convertible Notes. The Company's inventory balance as of December 31, 2025 was $91.4 million, down $9.7 million in the quarter. Debt Repayment On November 6, 2025, the Company repurchased the remaining $42.9 million of outstanding aggregate principal amount, and $2.2 million of accrued interest, of the 5.50% Convertible Secured Notes due 2025 (the "2025 Convertible Notes") from entities affiliated with Magnetar Financial, LLC (collectively, the "Holders"), pursuant to the terms and conditions of a negotiated notes purchase agreement (the "Agreement") among the Company and the Holders. See Note 4 in the Company's 10Q for the period ended December 31, 2025, "Debt", for additional details. Line of Credit On January 30, 2026, the Company extended its long-standing line of credit with Western Alliance Bank for $35 million (the "Credit Facility"). This line of credit provides the Company with added operational flexibility. The maturity date of the Credit Facility is March 2, 2026. The Company intends to enter in to a longer term renewal of the Credit Facility. Financial Outlook In light of the review and evaluation by the Special Committee of the Board of Directors of the previously disclosed preliminary non-binding indicative proposal letters the Company has received, the Company will not be providing fourth quarter guidance. Conference Call Information A conference call to discuss the Company's third quarter fiscal year 2026 results will be held today, February 5, 2026, at 4:30 p.m. ET. During the conference call, the Company may make comments concerning business and financial developments, trends and other business or financial matters. The Company's comments, as well as other matters discussed during the conference call, may contain or constitute information that has not been previously disclosed. In light of the review and evaluation by the Special Committee of the Board of Directors of the previously disclosed preliminary non-binding indicative proposal letters the Company has received, the Company will not be holding a Q&A session following today's prepared remarks. The conference call can be accessed by dialing 1-888-596-4144 for U.S. participants and 1-646-968-2525 for international participants. The conference call passcode is 5515653. A live audio webcast of the call will be available at https://investors.bark.co/ and will be archived for 1 year. About BARK BARK is the world’s most dog-centric company, devoted to making all dogs happy with the best products, food, services, and content. BARK’s dog-obsessed team leverages its unique, data-driven understanding of what makes each dog special to design playstyle-specific toys, wildly satisfying treats, dog-first experiences that foster the health and happiness of dogs everywhere, and more. Founded in 2011, BARK loyally serves millions of dogs nationwide with BarkBox and Super Chewer, its themed toys and treats subscriptions; custom product collections through its retail partner network, including Target, Chewy, and Amazon; BARK in the Belly, a premium dog food and consumables line that donates 100% of food profits to fight canine hunger; and BARK Air, the first air travel experience designed specifically for dogs first. At BARK, we want to make dogs as happy as they make us because dogs and humans are better together. Sniff around at bark.co for more information. Forward Looking Statements This press release contains forward-looking statements relating to, among other things, the future performance of BARK that are based on the Company’s current expectations, forecasts and assumptions and involve risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "intend," "potential," "continue," "ongoing" or the negative of these terms or other comparable terminology. These statements include, but are not limited to, statements about future operating results, including our strategies, plans, commitments, objectives and goals. Actual results could differ materially from those predicted or implied and reported results should not be considered as an indication of future performance. Other factors that could cause or contribute to such differences include, but are not limited to, risks relating to the uncertainty of the projected financial information with respect to BARK; the risk that spending on pets may not increase at projected rates; that BARK subscriptions may not increase their spending with BARK; BARK’s ability to continue to convert social media followers and contacts into customers; BARK’s ability to successfully expand its product lines and channel distribution; competition; the uncertain effects of global or macroeconomic events or challenges, and the effect of the previously disclosed preliminary non-binding indicative proposal letters the Company has received. More information about factors that could affect BARK's operating results is included under the captions "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" in the Company's quarterly report on Form 10-Q for the quarter ended December 31, 2025, copies of which may be obtained by visiting the Company’s Investor Relations website at https://investors.bark.co/ or the SEC’s website at www.sec.gov . Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the Company on the date hereof. The Company assumes no obligation to update such statements. Definitions of Key Performance Indicators Total Orders We define Total Orders as the total number of Direct to Consumer orders shipped in a given period. These include all orders across all of our product categories, regardless of whether they are purchased on a subscription, auto-ship, or one-off basis. Total Orders excludes orders from BARK Air. We use Total Orders as an indicator of customer interest and demand. Average Order Value We define Total Orders as the total number of Direct to Consumer orders shipped in a given period. These include all orders across all of our product categories, regardless of whether they are purchased on a subscription, auto-ship, or one-off basis. Total Orders excludes orders from BARK Air. We use Total Orders as an indicator of customer interest and demand. Key Performance Indicators Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 2025 2024 Total Orders (in thousands) 2,427 3,332 7,790 10,044 Average Order Value $ 31.41 $ 31.25 $ 31.01 $ 31.03 Direct to Consumer Gross Profit (in thousands) (1) $ 52,711 $ 70,154 $ 164,433 $ 204,927 Direct to Consumer Gross Margin (1) 69.2 % 67.4 % 68.1 % 65.7 % (1) Direct to Consumer Gross Profit and Direct to Consumer Gross Margin does not include revenue or cost of goods sold from BARK Air. BARK, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands) Three Months Ended Nine Months Ended December 31, December 31, December 31, December 31, 2025 2024 2025 2024 REVENUE $ 98,447 $ 126,449 $ 308,277 $ 368,772 COST OF REVENUE 36,885 47,189 120,679 140,134 Gross profit 61,562 79,260 187,598 228,638 OPERATING EXPENSES: General and administrative 54,479 64,141 168,949 190,709 Advertising and marketing 16,067 27,364 46,643 66,460 Total operating expenses 70,546 91,505 215,592 257,169 LOSS FROM OPERATIONS (8,984 ) (12,245 ) (27,994 ) (28,531 ) INTEREST INCOME 292 1,179 1,779 4,011 INTEREST EXPENSE (415 ) (677 ) (1,836 ) (2,074 ) OTHER INCOME (EXPENSE)—NET 461 234 1,704 (217 ) NET LOSS BEFORE INCOME TAXES (8,646 ) (11,509 ) (26,347 ) (26,811 ) PROVISION FOR INCOME TAXES — — — — NET LOSS AND COMPREHENSIVE LOSS $ (8,646 ) $ (11,509 ) $ (26,347 ) $ (26,811 ) DISAGGREGATED REVENUE (In thousands) Three Months Ended Nine Months Ended December 31, December 31, 2025 2024 2025 2024 Revenue Direct to Consumer: Toys & Accessories (1) $ 46,049 $ 64,348 $ 145,930 $ 201,799 Consumables (1) 30,168 39,808 95,648 109,909 Other (2) 3,363 1,963 9,326 4,069 Total Direct to Consumer $ 79,580 $ 106,119 $ 250,904 $ 315,777 Commerce 18,867 20,330 57,373 52,995 Revenue $ 98,447 $ 126,449 $ 308,277 $ 368,772 (1) The allocation between Toys & Accessories and Consumables includes estimates and was determined utilizing data on stand-alone selling prices that the Company charges for similar offerings, and also reflects historical pricing practices. (2) Other Direct to Consumer revenue is derived from BARK Air. GROSS PROFIT BY SEGMENT (In thousands) Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 2025 2024 Direct to Consumer (1) : Revenue $ 79,580 $ 106,119 $ 250,904 $ 315,777 Cost of revenue 26,749 35,796 86,357 110,930 Gross profit 52,831 70,323 164,547 204,847 Commerce: Revenue 18,867 20,330 57,373 52,995 Cost of revenue 10,136 11,393 34,322 29,204 Gross profit 8,731 8,937 23,051 23,791 Consolidated: Revenue 98,447 126,449 308,277 368,772 Cost of revenue 36,885 47,189 120,679 140,134 Gross profit $ 61,562 $ 79,260 $ 187,598 $ 228,638 (1) Direct to Consumer segment gross profit includes revenue and cost of revenue from BARK Air. BARK, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) December 31, March 31, 2025 2025 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 21,683 $ 94,022 Accounts receivable—net 12,126 9,453 Prepaid expenses and other current assets 12,708 10,036 Inventory 91,361 88,126 Total current assets 137,878 201,637 PROPERTY AND EQUIPMENT—NET 18,874 21,475 INTANGIBLE ASSETS—NET 1,768 5,426 OPERATING LEASE RIGHT-OF-USE ASSETS 25,133 28,277 OTHER NONCURRENT ASSETS 5,017 3,820 TOTAL ASSETS $ 188,670 $ 260,635 LIABILITIES, AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 22,444 $ 20,364 Operating lease liabilities, current 5,380 5,798 Accrued and other current liabilities 24,373 34,054 Deferred revenue 22,162 21,251 Current portion of long-term debt — 42,573 Total current liabilities 74,359 124,040 OPERATING LEASE LIABILITIES 32,926 36,802 OTHER LONG-TERM LIABILITIES 140 267 Total liabilities 107,425 161,109 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS’ EQUITY Common stock, par value $0.0001 per share—500,000,000 shares authorized; 172,807,204 and 169,732,895 shares issued and outstanding 1 1 Treasury stock, at cost, 17,303,225 and 15,992,598 shares, respectively (26,500 ) (24,730 ) Additional paid-in capital 513,964 504,022 Accumulated deficit (406,220 ) (379,767 ) Total stockholders’ equity 81,245 99,526 TOTAL LIABILITIES, AND STOCKHOLDERS’ EQUITY $ 188,670 $ 260,635 BARK, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Nine Months Ended December 31, December 31, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (26,347 ) $ (26,811 ) Adjustments to reconcile net loss to cash (used in) provided by operating activities: Depreciation & amortization 7,198 8,383 Impairment of assets 1,065 2,142 Non-cash lease expense ... 3,144 3,510 Amortization of deferred financing fees and debt discount 310 299 Bad debt expense 74 — Stock-based compensation expense 10,881 9,771 Provision for inventory obsolescence 706 1,072 Change in fair value of warrant liabilities and derivatives (913 ) 652 Paid in kind interest on convertible notes — 2,235 Changes in operating assets and liabilities: Accounts receivable (2,748 ) (3,719 ) Inventory (3,942 ) (7,255 ) Prepaid expenses and other current assets (102 ) (2,105 ) Other noncurrent assets (947 ) (1,733 ) Accounts payable and accrued expenses (4,297 ) 26,696 Deferred revenue 912 (2,433 ) Operating lease liabilities. (4,293 ) (3,919 ) Other liabilities (2,508 ) (3,606 ) Net cash (used in) provided by operating activities. (21,807 ) 3,179 CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (2,703 ) (4,428 ) Net cash used in investing activities (2,703 ) (4,428 ) CASH FLOWS FROM FINANCING ACTIVITIES: Payment of finance lease obligations (174 ) (165 ) Proceeds from the exercise of stock options 66 554 Proceeds from issuance of common stock under ESPP 359 425 Tax payments related to the issuance of common stock (1,384 ) (2,181 ) Excise tax from stock repurchases 20 (43 ) Payments to repurchase common stock (1,770 ) (8,023 ) Payments of long-term debt (42,880 ) — Net cash used in financing activities (45,763 ) (9,433 ) Effect of exchange rate changes on cash (106 ) (37 ) NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (70,379 ) (10,719 ) CASH, CASH EQUIVALENTS AND RESTRICTED CASH—BEGINNING OF PERIOD 97,531 130,704 CASH, CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD $ 27,152 $ 119,985 RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents 21,683 115,259 Restricted cash - prepaid expenses and other current assets, other noncurrent assets 5,469 4,726 Total cash, cash equivalents and restricted cash $ 27,152 $ 119,985 SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Purchases of property and equipment included in accounts payable and accrued liabilities $ 168 $ 189 Cash paid for interest $ 2,351 $ 88 Non-GAAP Financial Measures We report our financial results in accordance with U.S. GAAP. However, management believes that Adjusted Net Loss, Adjusted Net Loss Margin, Adjusted Net Loss Per Common Share, Adjusted EBITDA, Adjusted EBITDA Margin, and Free Cash Flow, all non-GAAP financial measures (together the "Non-GAAP Measures"), provide investors with additional useful information in evaluating our performance. We calculate Adjusted Net Loss as net loss, adjusted to exclude: (1) stock-based compensation expense, (2) change in fair value of warrants and derivatives, (3) sales and use tax income, (4) restructuring charges related to reduction in force payments, (5) litigation expenses (consisting of legal and related fees for a specific proceeding that is outside of our ordinary course of business), (6) warehouse restructuring costs, (7) non-cash impairment of previously capitalized software and cloud computing implementation costs, (8) technology modernization costs, and (9) other items (as defined below). We calculate Adjusted Net Loss Margin by dividing Adjusted Net Loss for the period by Revenue for the period. We calculate Adjusted Net Loss Per Common Share by dividing Adjusted Net Loss for the period by weighted average common shares used to compute net loss per share attributable to common stockholders for the period. We calculate Adjusted EBITDA as net loss, adjusted to exclude: (1) interest income, (2) interest expense, (3) depreciation and amortization, (4) stock-based compensation expense, (5) change in fair value of warrants and derivatives, (6) capitalized cloud computing amortization, (7) sales and use tax income, (8) restructuring charges related to reduction in force payments, (9) litigation expenses (consisting of legal and related fees for a specific proceeding that is outside of our ordinary course of business), (10) warehouse restructuring costs, (11) non-cash impairment of previously capitalized software and cloud computing implementation costs, (12) technology modernization costs, and (13) other items (as defined below). We calculate Adjusted EBITDA Margin by dividing Adjusted EBITDA for the period by revenue for the period. We calculate Free Cash Flow as net cash provided by (used in) operating activities less capital expenditures. The Non-GAAP Measures are financial measures that are not required by, or presented in accordance with U.S. GAAP. We believe that the Non-GAAP Measures, when taken together with our financial results presented in accordance with U.S. GAAP, provides meaningful supplemental information regarding our operating performance and facilitates internal comparisons of our historical operating performance on a more consistent basis by excluding certain items that may not be indicative of our business, results of operations or outlook. In particular, we believe that the use of the Non-GAAP Measures are helpful to our investors as they are measures used by management in assessing the health of our business, determining incentive compensation and evaluating our operating performance, as well as for internal planning and forecasting purposes. The Non-GAAP Measures are presented for supplemental informational purposes only, have limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with U.S. GAAP. Some of the limitations of the Non-GAAP Measures include that (1) the measures do not properly reflect capital commitments to be paid in the future, (2) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and Adjusted EBITDA and Adjusted EBITDA Margin do not reflect these capital expenditures, (3) Adjusted EBITDA and Adjusted EBITDA Margin do not consider the impact of stock-based compensation expense, which is an ongoing expense for our company, (4) Adjusted EBITDA and Adjusted EBITDA Margin, and (5) Free cash flow does not represent the total residual cash flow available for discretionary purposes and does not reflect our future contractual commitments and other non-operating expenses, including interest expense. In addition, our use of the Non-GAAP Measures may not be comparable to similarly titled measures of other companies because they may not calculate the Non-GAAP Measures in the same manner, limiting their usefulness as a comparative measure. Because of these limitations, when evaluating our performance, you should consider the Non-GAAP Measures alongside other financial measures, including our net income (loss) and other results stated in accordance with U.S. GAAP. The following table presents a reconciliation of Adjusted Net Loss to Net loss, the most directly comparable financial measure stated in accordance with U.S. GAAP, and the calculation of net loss margin, Adjusted Net Loss Margin and Adjusted Net Loss Per Common Share for the periods presented: Adjusted Net Loss Three Months Ended D ecember 31, Nine Months Ended D ecember 31, 2025 2024 2025 2024 (in thousands, except per share data) Net Loss $ (8,646 ) $ (11,509 ) $ (26,347 ) $ (26,811 ) Stock compensation expense 3,571 3,873 10,881 9,771 Change in fair value of warrants and derivatives (261 ) (261 ) (913 ) 652 Sales and use tax income (1) (623 ) (450 ) (950 ) (1,999 ) Restructuring 93 924 516 2,624 Litigation expenses (2) 358 468 645 1,106 Warehouse restructuring costs 336 2,391 2,004 3,289 Impairment of assets 296 — 1,065 2,142 Technology modernization (3) 336 545 1,059 1,750 Other items (4) 120 88 320 827 Adjusted net loss $ (4,420 ) $ (3,931 ) $ (11,720 ) $ (6,649 ) Net loss margin (8.78 )% (9.10 )% (8.55 )% (7.27 )% Adjusted net loss margin (4.49 )% (3.11 )% (3.80 )% (1.80 )% Adjusted net loss per common share - basic and diluted $ (0.03 ) $ (0.02 ) $ (0.07 ) $ (0.04 ) Weighted average common shares used to compute adjusted net loss per share attributable to common stockholders - basic and diluted 172,446,917 175,589,759 170,811,789 175,404,510 The following table presents a reconciliation of Adjusted EBITDA to net loss, the most directly comparable financial measure stated in accordance with U.S. GAAP, and the calculation of net loss margin and Adjusted EBITDA margin for the periods presented: Adjusted EBITDA Three Months Ended December 31, Nine Months Ended D ecember 31, 2025 2024 2025 2024 (in thousands) (in thousands) Net Loss $ (8,646 ) $ (11,509 ) $ (26,347 ) $ (26,811 ) Interest income (292 ) (1,179 ) (1,779 ) (4,011 ) Interest expense 415 677 1,836 2,074 Depreciation and amortization expense 2,094 2,704 7,198 8,383 Stock compensation expense 3,571 3,873 10,881 9,771 Change in fair value of warrants and derivatives (261 ) (261 ) (913 ) 652 Cloud computing amortization 595 174 1,509 346 Sales and use tax income (1) (623 ) (450 ) (950 ) (1,999 ) Restructuring 93 924 516 2,624 Litigation expenses (2) 358 468 645 1,106 Warehouse restructuring costs 336 2,391 2,004 3,289 Impairment of assets 296 — 1,065 2,142 Technology modernization (3) 336 545 1,059 1,750 Other items (4) 120 88 320 827 Adjusted EBITDA $ (1,608 ) $ (1,555 ) $ (2,956 ) $ 143 Net loss margin (8.78 )% (9.10 )% (8.55 )% (7.27 )% Adjusted EBITDA margin (1.63 )% (1.23 )% (0.96 )% 0.04 % (1) Sales and use tax expense relates to recording a liability for sales and use tax we did not collect from our customers. Historically, we had collected state or local sales, use, or other similar taxes in certain jurisdictions in which we only had physical presence. On June 21, 2018, the U.S. Supreme Court decided, in South Dakota v. Wayfair, Inc., that state and local jurisdictions may, at least in certain circumstances, enforce a sales and use tax collection obligation on remote vendors that have no physical presence in such jurisdiction. A number of states have positioned themselves to require sales and use tax collection by remote vendors and/or by online marketplaces. The details and effective dates of these collection requirements vary from state to state and accordingly, we recorded a liability in those periods in which we created economic nexus based on each state’s requirements. Accordingly, we now collect, remit, and report sales tax in all states that impose a sales tax. Subsequently, as certain of these liabilities are waived by tax authorities or the applicable statute of limitations expires, the related accrued liability is reversed. (2) Litigation expenses related to a shareholder class action complaint, see Item 1. Legal Proceedings. (3) Includes consulting fees related to technology transformation activities, and payroll costs for employees that dedicate significant time to this project. We believe that these costs are discrete and non-recurring in nature, as they mainly relate to a one-time unification of our product offerings on our new commerce platform. As such, they are not normal, recurring operating expenses and are not reflective of ongoing trends in the cost of doing business. (4) For the three months ended December 31, 2025, other items is comprised of executive transition costs including recruiting costs of $0.1 million. For the three months ended December 31, 2024, other items is comprised of executive transition costs including recruiting costs of less than $0.1 million, costs associated with the stock repurchase program of less than $0.1 million, and duplicate headquarters rent of less than $0.1 million. For the nine months ended December 31, 2025, other items is comprised of executive transition costs including recruiting costs of $0.3 million and costs associated with the stock repurchase program of less than $0.1 million. For the nine months ended December 31, 2024, other items is comprised of executive transition costs including recruiting costs of $0.5 million, costs associated with the stock repurchase program of $0.3 million, and duplicate headquarters rent of less than $0.1 million. The following table presents a reconciliation of Free Cash Flow to Net cash used in operating activities, the most directly comparable financial measure prepared in accordance with U.S. GAAP, for each of the periods indicated: Free Cash Flow Three Months Ended December 31, Nine Months Ended D ecember 31, 2025 2024 2025 2024 Free cash flow reconciliation: Net cash (used in) provided by operating activities $ 1,705 $ (1,387 ) $ (21,807 ) $ 3,179 Capital expenditures (143 ) (577 ) (2,703 ) (4,428 ) Free cash flow $ 1,562 $ (1,964 ) $ (24,510 ) $ (1,249 ) View source version on businesswire.com: https://www.businesswire.com/news/home/20260205453777/en/ Contacts Investors: Michael Mougias investors@barkbox.com Media: Garland Harwood press@barkbox.com View Comments Terms and Privacy Policy Your Privacy Choices More Info
  Content Reference URL	None

• Publisher

  Publisher Name	Financial Planning (#6135)
  Publisher URL	https://finance.yahoo.com
  Description	None
  Trust Flow Score	83
  Citation Flow Score	57

• Data Source

  Data Source Name	Yahoo Finance News (#2)
  Data Source Type	news
  Data Source URL	https://finance.yahoo.com/
  Description	Yahoo! Finance is a media property that is part of the Yahoo! network. It provides financial news, data and commentary including stock quotes, press releases, financial reports, and original content. It also offers some online tools for personal finance management.
  Weight	10