Bark announces up to $28M in annual savings due to cost cuts

BARK (BARK) “provided an update on the Company’s recent cost reduction initiatives and the status of potential refunds of tariffs previously paid under the International Emergency Economic Powers Act. BARK has completed a series of cost reduction initiatives during the fourth quarter of fiscal year 2026 as part of a broader effort to improve operating efficiency, and drive profitability and free cash flow of the business. The measures are designed to align the Company’s cost structure with current business needs. The Company expects these actions to result in up to $28 million of annualized cost savings, consisting of: approximately $26 million from workforce, operating efficiencies across sales & marketing and general & administrative, through: Targeted headcount reductions and attrition; Increased use of automation, including Artificial Intelligence tools; Streamlined utilization of external and offshore partners; Approximately $2 million from a reduction in corporate office footprint.”