One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
BARK, Inc.
BARK · NYQ · Consumer Cyclical · Specialty Retail
Current price
$11.22
52-week range
$8.15 - $20.80
Market cap
$101.36M
Balance sheet
Distressed
-21.65x Concerning
Net debt $18.39M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
1 Risk
0 rewards · 1 risks
View details ↓What this company does
BARK, Inc.
BARK is a company that sells products and services for dogs, including toys, treats, food, and even an airline experience called BARK Air. The company makes most of its money from its subscription boxes, like BarkBox and Super Chewer, which deliver themed toys and treats to customers' homes each month. This creates recurring revenue (predictable, repeating sales from loyal customers), which can make a company's income more stable and easier to forecast.
How the company got here
BARK, Inc. was founded in 2011 by Matt Meeker, Carly Strife, and Henrik Werdelin with the simple idea of creating a monthly subscription box of toys and treats for dogs. This service, called BarkBox, quickly gained popularity, growing from 1,000 subscribers in early 2012 to a much larger base, fueled by early funding. Over the years, the company expanded its offerings beyond the subscription box, launching an online store and developing its own line of products. A major turning point was its entry into retail stores like Target in 2017, which significantly broadened its customer reach. The company went public in June 2021, trading on the New York Stock Exchange under the ticker symbol BARK.
What it actually does
BARK is a company that focuses entirely on dogs and their owners. It designs and sells a wide range of dog-related products, from toys and treats to food and dental care items. You might recognize their main subscription services, BarkBox and Super Chewer, which deliver a themed box of goodies to your door each month. Beyond subscriptions, they sell individual products online and through partnerships with major retail stores. Recently, they even launched BARK Air, a unique air travel service designed specifically for dogs.
Direct to Consumer
This is BARK's largest business segment, where it sells products directly to dog owners, primarily through online subscriptions. This includes the popular monthly BarkBox and Super Chewer subscriptions, which are customized boxes of toys and treats. This segment also covers sales of other products like dental kits (BARK Bright) and food, as well as the new BARK Air travel service. The Direct to Consumer business generates the majority of the company's revenue (the money it brings in from sales).
Commerce
The Commerce segment is how BARK sells its products through other companies. This involves partnerships with a wide network of retail stores, so you can find BARK's toys and treats on the shelves while you're shopping at major retailers like Target, Walmart, and PetSmart. They also sell products through online marketplaces like Amazon and Chewy. While smaller than their direct subscription business, this part of the company is an important way for them to reach new customers who might not have heard of their subscription boxes.
What management is betting on now
The company is focused on becoming more profitable and less reliant on just its subscription boxes. A key part of this strategy is to grow its 'Commerce' business by expanding its presence in retail stores and online marketplaces. They are also putting a heavy emphasis on selling more consumables (products that get used up and repurchased, like food, treats, and dental products), which creates a more regular stream of revenue. Management believes these steps, along with maintaining financial discipline like having no debt, will lead to sustainable, long-term growth.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q2
$966.00K
FY2025 Q3
$-1.96M
FY2025 Q4
$-11.99M
FY2026 Q1
$-6.15M
FY2026 Q2
$-19.93M
FY2026 Q3
$1.56M
FY2026 Q4
$-2.06M
FY2027 Q1
$-3.65M
Revenue
$78.81M
Net income
$745.00K
Diluted EPS
0.08
Operating cash flow
$-3.54M
Free cash flow
$-3.65M
Fetching…
Sources
Revenue
$86.56M
Net income
$-12.66M
Diluted EPS
-4.42
Operating cash flow
$-1.35M
Free cash flow
$-2.06M
Fetching…
Sources
Revenue
$98.45M
Net income
$-8.65M
Diluted EPS
-0.05
Operating cash flow
$1.71M
Free cash flow
$1.56M
Fetching…
Sources
Revenue
$106.97M
Net income
$-10.67M
Diluted EPS
-0.06
Operating cash flow
$-18.07M
Free cash flow
$-19.93M
Fetching…
Sources
Revenue
$102.86M
Net income
$-7.03M
Diluted EPS
-0.04
Operating cash flow
$-5.44M
Free cash flow
$-6.15M
Fetching…
Sources
Revenue
$115.41M
Net income
$-6.07M
Diluted EPS
-0.03
Operating cash flow
$-10.26M
Free cash flow
$-11.99M
Fetching…
Sources
Revenue
$126.45M
Net income
$-11.51M
Diluted EPS
-0.07
Operating cash flow
$-1.39M
Free cash flow
$-1.96M
Fetching…
Sources
Revenue
$126.11M
Net income
$-5.26M
Diluted EPS
-0.03
Operating cash flow
$2.77M
Free cash flow
$966.00K
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $11.22
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $18.4M. Interest coverage -21.6x.
Net debt
$18.39M
Interest coverage
-21.65x
BARK, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
BARK
BASELINE
BARK, Inc.
Total debt $37.68M Interest coverage -21.65x This is the baseline the peer rows are being compared against.
Total debt $523.40M Interest coverage 55.28x This peer still has a real interest-payment cushion, while BARK does not.
Total debt $2.78B Interest coverage 0.92x This peer still has a real interest-payment cushion, while BARK does not.
Total debt $493.66M Interest coverage 5.36x This peer still has a real interest-payment cushion, while BARK does not.
Total debt $106.91M Interest coverage 7.32x This peer still has a real interest-payment cushion, while BARK does not.
What you should know
The case for and against BARK
0 Rewards
1 Risk
Rewards
Risks
-
Return on equity was -45.5% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-7.24x
P/B
1.35x
P/S
0.26x
EV/EBITDA
-3.39x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
62.0%
Operating margin
-10.9%
Net margin
-9.9%
ROE
-45.5%
ROA
-10.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.52x
Current ratio
1.86x
Quick ratio
0.48x
Total debt
$37.68M
Total cash
$19.28M
Growth
How the business has been compounding
Revenue TTM
$370.80M
Revenue 5Y CAGR
-6.1%
EPS TTM
-3.66
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-21.26M
Free CF TTM
$-26.57M
FCF margin
-7.2%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
—