The New York Stock Exchange announced that it will delist BARK Inc.’s warrants (ticker BARK WS) effective immediately, suspending trading of the warrants while the company’s common stock remains listed. The decision follows NYSE Regulation staff’s determination that the warrants no longer meet listing standards under Section 802.01D of the Listed Company Manual because their trading price has fallen to levels that are “abnormally low.”
BARK’s warrants have been trading far below their intrinsic value, with the exercise price set at $11.50 per share while the underlying common stock has struggled to maintain a price above $1.00. The company’s most recent quarterly report showed a net loss of $10.7 million for the fiscal second quarter ended September 30 2025, compared with a $5.3 million loss in the same period last year, and a gross margin of 57.9 percent, down from 60.4 percent year‑over‑year. These financial pressures have contributed to the low demand for the warrants and the NYSE’s decision to delist them.
The delisting follows a pattern of compliance challenges for BARK. In July 2025 the company received a notice for failing to meet the minimum $1.00 share‑price requirement and was given a six‑month period to regain compliance. Although BARK regained compliance in March 2024, the recent decline in its common‑stock price and the widening net loss signal ongoing operational difficulties that extend beyond a single quarter.
Segment analysis shows that BARK’s Direct‑to‑Consumer (DTC) revenue fell 19.9 percent year‑over‑year to $82.1 million, while its Commerce segment grew 5.6 percent to $24.8 million. The decline in DTC sales reflects weaker consumer demand for the company’s core pet‑care products, whereas the modest growth in Commerce indicates that BARK’s marketplace platform is still attracting sellers, but the overall revenue mix is shifting toward lower‑margin activities.
Management has not issued a statement specifically addressing the warrant delisting, but the company’s recent filings emphasize a focus on cost discipline and a potential reverse stock split to improve liquidity. The delisting of the warrants removes a trading vehicle that has been underperforming and signals to investors that BARK is prioritizing compliance and financial stability over ancillary securities.
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