BARK, Inc. announced its financial results for the fiscal fourth quarter and full year ended March 31, 2025, highlighting a significant financial turnaround. The company achieved its first full year of positive Adjusted EBITDA, reaching $5.4 million for fiscal year 2025. This represents a substantial $16 million improvement compared to fiscal year 2024.
For the fourth quarter of fiscal 2025, BARK reported Adjusted EBITDA of $5.2 million, marking its best quarterly performance ever. Total revenue for the full fiscal year 2025 was $484.2 million, a modest 1.2% decrease year-over-year. The Commerce segment demonstrated strong growth, with revenue increasing by 27.2% year-over-year to $68.3 million for the full year.
Despite a 5.0% year-over-year decline in Q4 FY2025 revenue to $115.4 million, the Direct to Consumer gross margin improved to 67.2% from 64.8% in the prior year quarter. The company also continued its share repurchase program, spending $18.5 million to buy back 11.4 million shares in FY2025. This reflects management's confidence in the company's intrinsic value.
Looking ahead, BARK provided guidance for the first quarter of fiscal 2026, expecting total revenues between $99.0 million and $101.0 million, and Adjusted EBITDA between negative $2.0 million and positive $2.0 million. The company did not provide full-year guidance due to ongoing uncertainty surrounding potential tariffs and their impact on demand and operating costs. Management remains focused on revenue diversification and maintaining strong margins.
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