BARK Inc. Achieves First Positive EBITDA Year Amid Revenue Decline

BARK Inc Class A ( (BARK) ) has released its Q4 earnings. Here is a breakdown of the information BARK Inc Class A presented to its investors.

BARK Inc., a global leader in the dog-centric industry, is dedicated to enhancing the happiness of dogs through innovative products, services, and experiences, including subscription boxes and retail partnerships. In its fiscal fourth quarter and full year 2025 results, BARK reported a decline in total revenue by 5% for the quarter and 1.2% for the year, attributed to reduced marketing spend and shipment delays. Despite these challenges, the company achieved its first full year of positive Adjusted EBITDA at $5.4 million, marking a significant turnaround from previous losses.

Key financial highlights include a 26.5% increase in commerce revenue for the quarter, driven by new partnerships and expanded retail presence, while direct-to-consumer revenue saw an 8.5% decline. The gross margin improved to 63.6% for the quarter and 62.4% for the year, reflecting strong performance in both direct-to-consumer and commerce segments. However, the company faced a net loss of $6.1 million for the quarter, primarily due to a $1.5 million non-cash impairment related to technology modernization.

For the full fiscal year, BARK’s commerce revenue grew by 27.2%, while direct-to-consumer revenue decreased by 4.7%. The company managed to reduce its net loss to $32.9 million, an improvement of $4.1 million from the previous year. Operating expenses were controlled, with reductions in general and administrative costs contributing to the improved financial performance.

Looking ahead, BARK’s management remains focused on executing strategic initiatives to diversify revenue streams and maintain strong margins despite macroeconomic uncertainties and tariff impacts. The company plans to invest in new product lines, channels, and services like BARK Air, aiming to deliver long-term value to customers and shareholders.