Q1 2025 Bark Inc Earnings Call Transcript
Key Points
- BARK Inc (BARK) reported $116.2 million in revenue, surpassing the high end of their guidance range.
- The company achieved a record high consolidated gross margin of 63%, marking the seventh consecutive quarter of year-over-year gross margin improvement.
- BARK Inc (BARK) experienced over 5% year-over-year growth in their commerce business, with strong contributions from marketplaces like Amazon.
- The company successfully launched a selection of best-selling toys at Chewy, with initial customer feedback exceeding expectations.
- BARK Air, a new service offering, has generated significant awareness and demand, with $2.5 million in ticket sales and most flights sold out.
- Adjusted EBITDA was negative $1.8 million for the quarter, despite being ahead of the top end of guidance.
- The company is still facing headwinds in new subscriber growth due to inflation and rising interest rates affecting discretionary spending.
- Average orders or number of orders are still down, indicating challenges in reversing previous declines.
- The price point for BARK Air is not accessible to many customers, limiting its current market reach.
- Gross margin in Q2 is expected to be around 60%, lower than the current quarter, due to a higher commerce mix.
Good afternoon, my name is Emma, and I will be your conference operator today. At this time, I would like to welcome everyone to BARK's first quarter fiscal 2025 earnings call. (Operator Instructions)
At this time, I'd like to turn the conference over to Mike Mougias, Vice President of Investor Relations. You may begin.
Good afternoon, everyone, and welcome to BARK's first quarter fiscal year 2025 earnings call. Joining me today are Matt Meeker, Co-Founder and Chief Executive Officer; and Zahir Ibrahim, Chief Financial Officer. Today's conference call is being webcast in its entirety on our website, and a replay of the webcast will be made available shortly after the call.
Additionally, a press release covering the company's financial results was issued this afternoon and can be found on our Investor Relations website. Before I pass it over to Matt, I want to remind you of the following information regarding forward-looking statements. The statements made on today's call are based
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