BARK (BARK) Q2 2027 earnings summary

Executive summary

• Q2 revenue was $87.6M, above guidance; net loss narrowed to $3.8M and Adjusted EBITDA was $2.0M.

• Commerce returned to growth, reaching 29.4% of revenue; DTC retention was 94%.

• FY27 guidance was reaffirmed; a preliminary BARK Air customer-list sale and brand-license arrangement remains subject to definitive documentation.

Financial highlights

• Revenue fell 18.1% YoY to $87.6M, mainly reflecting a smaller DTC subscriber base after planned marketing reductions, partly offset by Commerce growth.

• Gross profit was $51.6M vs. $62.0M; gross margin rose ~100 bps YoY to 58.9%.

• Net loss narrowed to $3.8M, or $0.43 per share, from $10.7M, or $1.25 per share; operating loss narrowed to $5.2M from $10.7M.

• Adjusted EBITDA was $2.0M vs. a $1.4M loss YoY; adjusted EBITDA margin was 2.29% vs. negative 1.34%.

• Marketing expense fell 32.5% YoY to $10.4M; G&A declined 19% to $46.4M, including lower shipping and fulfillment costs.

Outlook and guidance

• FY27 guidance was reaffirmed at revenue of $325M–$340M and Adjusted EBITDA of $7M–$10M; results were trending toward the higher end, even excluding expected BARK Air revenue.

• Q3 guidance is revenue of $88M–$92M and Adjusted EBITDA of $1M–$3M.

• Inventory is expected to decline meaningfully over the next two quarters, supporting cash generation and flexibility into FY28.

• Net income guidance was not provided due to uncertainty in stock-based compensation and related tax effects.