BARK (BARK) 27th Annual ICR Conference 2025 summary

Strategic priorities and growth outlook

• Focus remains on achieving and sustaining full-year profitability, with EBITDA positive expected for the first time this year.

• Growth targeted in commerce/wholesale channels, including expanding shelf space in 40,000 retail doors and international markets.

• E-commerce growth accelerating, especially through Amazon and Chewy, with Chewy becoming a significant partner in the past six months.

• Direct-to-consumer (DTC) business unified under one Shopify platform, improving cross-selling and conversion rates.

• Airline business (BARK Air) identified as a new growth opportunity, with strong consumer demand and plans to expand routes and lower costs.

Financial performance and guidance

• Preliminary Q3 revenue reached $126.4 million, exceeding guidance; profitability was within the expected range with a $1.6 million loss.

• FY 2025 revenue guidance reiterated at $490–$500 million, with low single-digit growth expected.

• Anticipates mid- to high single-digit revenue growth for FY 2026 as growth initiatives mature.

• Commerce revenue up 25% year-to-date and 43% in Q3, with full-year growth expected around 30%.

• DTC business transition to Shopify expected to drive higher average order value and improved retention.

DTC and marketing initiatives

• 90% of revenue comes from subscription boxes, with 70% from toys and 30% from consumables.

• Migration to Shopify led to a record quarter for new subscribers, surpassing 300,000 for the first time.

• Cost of acquisition decreased by 5% year-over-year due to platform transition and marketing efficiency.

• Shift to full-funnel marketing and investment in AI-driven creative to increase ad testing and reduce production costs.

• Expectation that improved site experience and product assortment will boost average order value over time.