Revenue growth has contracted significantly, falling 25% year-over-year in 2026Q4, though the company maintains a resilient 65.1% gross margin despite the shrinking operational scale.
BARK, Inc. (BARK) annual income statement — 8-year revenue, gross profit & net income history
| Metric | TTM | Mar'26 | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 |
|---|
| Sales/Revenue | 351.39M | 394.84M | 484.18M | 490.18M | 535.32M | 507.41M | 378.6M | 224.34M | 191.44M |
| Revenue Growth % | -22.21% | -18.45% | -1.22% | -8.43% | 5.5% | 34.02% | 68.77% | 17.18% | - |
| Cost of Goods Sold | 126.65M | 152.96M | 182.19M | 188.03M | 227.2M | 225.3M | 152.66M | 88.92M | 84.33M |
| COGS % of Revenue | - | 38.74% | 37.63% | 38.36% | 42.44% | 44.4% | 40.32% | 39.64% | 44.05% |
| Gross Profit | 224.74M | 241.88M | 301.99M | 302.15M | 308.12M | 282.11M | 225.94M | 135.41M | 107.11M |
| Gross Margin % | 63.96% | 61.26% | 62.37% | 61.64% | 57.56% | 55.6% | 59.68% | 60.36% | 55.95% |
| Gross Profit Growth % | - | -19.9% | -0.05% | -1.94% | 9.22% | 24.86% | 66.85% | 26.42% | - |
| Operating Expenses | 251.02M | 282.06M | 337.14M | 347.67M | 371.95M | 376.29M | 246.54M | 162.04M | 141.6M |
| OpEx % of Revenue | - | 71.44% | 69.63% | 70.93% | 69.48% | 74.16% | 65.12% | 72.23% | 73.97% |
| Selling, General & Admin | 251.02M | 282.06M | 337.14M | 347.67M | 371.95M | 376.29M | 246.54M | 162.04M | 141.81M |
| SG&A % of Revenue | - | 71.44% | 69.63% | 70.93% | 69.48% | 74.16% | 65.12% | 72.23% | 74.08% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 1.5M | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | 0.3% | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | -1.5M | 0 | 0 | 0 |
| Operating Income | -26.27M | -40.18M | -35.15M | -45.52M | -63.83M | -94.18M | -20.6M | -26.63M | -34.7M |
| Operating Margin % | -7.48% | -10.18% | -7.26% | -9.29% | -11.92% | -18.56% | -5.44% | -11.87% | -18.12% |
| Operating Income Growth % | - | -14.31% | 22.79% | 28.69% | 32.23% | -357.21% | 22.64% | 23.26% | - |
| EBITDA | -20.46M | -31.08M | -23.93M | -32.92M | -49.5M | -85.94M | -18.19M | -25.23M | -34.19M |
| EBITDA Margin % | -5.82% | -7.87% | -4.94% | -6.72% | -9.25% | -16.94% | -4.81% | -11.25% | -17.86% |
| EBITDA Growth % | 24.85% | -29.88% | 27.32% | 33.5% | 42.4% | -372.36% | 27.88% | 26.21% | - |
| D&A (Non-Cash Add-back) | 5.81M | 9.1M | 11.22M | 12.6M | 14.33M | 8.24M | 2.4M | 1.4M | 505K |
| EBIT | -20.12M | -37.15M | -30.09M | -32.66M | -56.09M | -62.84M | -20.47M | -25.95M | -34.7M |
| Net Interest Income | 218K | 24K | 2.14M | 3.18M | -4.37M | -5.46M | -10.92M | -5.42M | 0 |
| Interest Income | 1.23M | 1.88M | 4.93M | 7.53M | 1.06M | 0 | 0 | 0 | 2.6M |
| Interest Expense | 430K | 1.86M | 2.79M | 4.35M | 5.43M | 5.46M | 10.92M | 5.42M | 0 |
| Other Income/Expense | 1.87M | 1.17M | 2.27M | 8.51M | 2.31M | 25.88M | -10.79M | -4.74M | -2.39M |
| Pretax Income | -24.41M | -39.01M | -32.88M | -37.01M | -61.52M | -68.3M | -31.39M | -31.37M | -37.08M |
| Pretax Margin % | -6.95% | -9.88% | -6.79% | -7.55% | -11.49% | -13.46% | -8.29% | -13.98% | -19.37% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 333.14K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -0.9% |
| Net Income | -24.41M | -39.01M | -32.88M | -37.01M | -61.52M | -68.3M | -31.39M | -31.37M | -37.08M |
| Net Margin % | -6.95% | -9.88% | -6.79% | -7.55% | -11.49% | -13.46% | -8.29% | -13.98% | -19.37% |
| Net Income Growth % | 30.82% | -18.64% | 11.16% | 39.84% | 9.93% | -117.58% | -0.07% | 15.41% | - |
| Net Income (Continuing) | -24.41M | -39.01M | -32.88M | -37.01M | -61.52M | -68.3M | -31.39M | -31.37M | -37.08M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.73 | -4.52 | -3.80 | -4.20 | -7.20 | -8.74 | -6.20 | -4.40 | -4.40 |
| EPS Growth % | 31.62% | -18.95% | 9.52% | 41.67% | 17.62% | -40.97% | -40.91% | 0% | - |
| EPS (Basic) | - | -4.52 | -3.80 | -4.20 | -7.20 | -8.74 | -6.20 | -4.40 | -4.40 |
| Diluted Shares Outstanding | 8.93M | 8.62M | 8.76M | 8.86M | 8.84M | 7.81M | 6.89M | 8.34M | 8.34M |
| Basic Shares Outstanding | 8.93M | 8.62M | 8.76M | 8.86M | 8.84M | 7.81M | 6.89M | 8.34M | 8.34M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying BARK stock.
For fiscal year 2026, BARK, Inc. (BARK) reported total revenue of $394.8M. This represents a 106.2% increase compared to $191.4M in 2019.
BARK, Inc. (BARK) reported a net loss of $39.0M for the fiscal year ending 2026.
BARK, Inc. (BARK) reported an operating income of $-40.2M, resulting in an operating profit margin of -10.2%. This margin reflects the operational efficiency of the business before interest and taxes.
BARK, Inc. (BARK) generated $241.9M in gross profit for the year, representing a gross profit margin of 61.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Liquidity and subscriber churn
Metrics are mathematically derived from official filings.
Persistent Revenue Contraction Trends
As reported in recent financial filings, BARK's revenue has experienced a significant 25% year-over-year decline in 2026Q4, marking a consistent downward trajectory that suggests the company is struggling to maintain its core subscriber base amidst a broader shift in consumer discretionary spending patterns for pet products.
The consistent double-digit revenue declines across the last several quarters indicate that the company's subscription model is facing structural headwinds. This contraction suggests that the firm's reliance on discretionary toy purchases may be increasingly vulnerable to household budget tightening, necessitating a pivot toward more essential consumables.
Gross Margin Resilience Amidst Contraction
Based on the provided income statement data, BARK has maintained a robust gross margin of 65.1% in 2026Q4, demonstrating that the company's proprietary product design model continues to capture significant value despite the ongoing reduction in total top-line revenue and overall operational scale.
The ability to sustain gross margins above 60% highlights the effectiveness of the company's vertical integration strategy compared to traditional third-party distributors. However, investors should monitor whether these margins can be preserved if the company is forced to increase promotional activity to combat rising churn rates.
Operating Leverage Remains Elusive
According to the latest quarterly results, BARK's operating margin of -14.6% reflects a failure to achieve meaningful operating leverage, as the company's fixed overhead costs continue to outpace the gross profit generated by its shrinking subscriber base, leading to persistent and widening quarterly operating losses.
The inability to scale SG&A expenses down in proportion to revenue declines suggests that the company's current cost structure is too rigid for its present size. This lack of operating leverage warrants further investigation into whether management can successfully right-size the organization without further damaging the brand's long-term growth potential.
Sustainability of Current Cash Runway
Based on the reported figures, BARK's cash position of $19.2M appears increasingly precarious when measured against the company's ongoing quarterly operating losses, which reached $12.6M in 2026Q4, suggesting that the firm may face significant liquidity constraints in the near term without a successful strategic pivot.
Short-sellers would likely focus on the limited cash runway as a primary catalyst for potential dilutive financing or emergency cost-cutting measures. The current burn rate implies that the company has little room for error as it attempts to transition its business model toward the BARK Food and Bright segments.