BARK Bark, Inc.

Overview and Growth

Bark, Inc. generated $394.84M of revenue in fiscal 2026, with net loss of $39.01M and an operating cash outflow of $23.16M. At $394.84M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line contracted 18.5% from $484.18M in fiscal 2025; this top-line contraction left the company with a smaller revenue base. On a per-share basis, diluted EPS was -$4.57, which connects the reported earnings outcome with the company’s diluted share count. At period end, total assets were $169.99M, framing the scale of the company’s operating and financing commitments. Asset turnover was 2.32x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Gross profit was $241.88M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 61.3%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced a $40.18M operating loss before non-operating and tax effects. An operating margin of -10.2% reflected costs exceeding revenue-level gross profit by 10.2% of sales. After all below-operating-line items, the company recorded a net loss of $39.01M for the fiscal year. Measured against revenue, the bottom-line deficit represented 9.9% after all recognized items. The pretax result was a loss of $39.01M, establishing the deficit before tax effects. Measured against revenue, the pretax deficit represented 9.9%. The company recognized $0.00 of income tax for the period, completing the transition from pretax income to net income. The loss-to-equity relationship was 54.2%, placing the bottom-line deficit against shareholder capital. The net loss equaled 22.9% of period-end assets, showing the deficit relative to the asset base.

Liquidity and Capital Structure

Total assets were $169.99M, supported by $97.97M of liabilities and $72.02M of shareholder equity. At period end, current assets of $121.74M compared with current liabilities of $65.40M, defining the company’s short-term resource position. The current ratio was 1.86x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $19.28M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 29.5% of current liabilities, showing how much near-term coverage came from cash alone. The company carried $0.00 of total debt at period end, which frames its leverage and debt-service burden. Against book equity, debt measured 0.0x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 0.0%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 57.6%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 11.3% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $260.63M in fiscal 2025, the current asset base moved 34.8% and finished lower. Reported equity changed 27.6% from $99.53M in fiscal 2025, placing the current capital base lower year over year. Cash and equivalents were 79.5% lower than fiscal 2025 cash of $94.02M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $23.16M, rather than cash generation from operations. Capital expenditures used $3.42M in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. The company recorded a $26.57M cash deficit after capital spending for the period. Free-cash-flow margin was -6.7%, reflecting a cash deficit equal to 6.7% of revenue after capital spending. The free-cash-flow deficit equaled 15.6% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Mar 31, 2026. Analysis generated Sep 24, 2026.