The Original BARK Company (BARK) shares surged 5.97% in after-hours on Wednesday, November 10, 2021, and closed the daily trading at $7.45. However, in the regular trading session, BARK’s stock lost 6.02%. BARK shares have moved down 2.36% in the past week. Over the past three months, the stock has lost 22.66%, while over the past six months, it has declined 29.13%.
Let’s see what’s happening in the company recently?
BARK latest news
On November 10, 2021, The Original BARK Company released its financial results for the fiscal second quarter ended September 30, 2021.
Q2 2022 financial highlights
- BARK reported revenue of $120.2 million in the second quarter of the fiscal year 2022 compared to $86.4 million in the second quarter of the fiscal year 2021.
- In Q2 2022, the gross profit was $69.9 million compared to $51.6 million in the second quarter of the fiscal year 2021.
- Total operating expenses were $85.3 million in Q2 2022 compared to $52.4 million in Q2 2021.
- It reported a net income of $6.5 million in Q2 2022 compared to a net loss of $1.4 million in Q2 2022.
- Adjusted EBITDA was $8.8 million in Q2 2022 compared to $1.1 million in Q2 2021.
- The company ended the quarter with a cash and cash equivalents balance of $272.6 million.
Q3 2022 financial guidance
- The Company expects total revenue in the range of $137 to $139 million.
FY 2022 financial outlook
- Due to uncertainty, for the fiscal year 2022, the Company anticipates roughly 2% of the risk to the $516 million of revenue guidance originally provided in December of 2020.
- Adjusted EBITDA is expected in the range of $38 million to $40 million.
BARK corporate updates
On October 14, 2021The Original BARK Company expanded its leadership team to advance the Company’s long-term strategic growth plans.
- Michael Novotny was appointed as President of BARK Eats. He has been serving as Chief Operating Officer of BARK since 2019.
- Anil Nair was appointed as Chief Supply Chain Officer. He has 15 years of work experience and recently he worked as Director at Global Logistics at Amazon.
- Olly Downs joined BARK as Vice President of Data, Analytics, and Machine Learning, with 20 years of work experience, and 41 U.S. patents. Before joining BARK, he served as Vice President, Marketing Technology, Data & Machine Learning at e-commerce retailer Zulily.
BARK CFO transition
On September 16, 2021, the CFO of The Original BARK Company, John Toth resigned from his position to spend more time with his family on the West Coast. BARK has retained an executive search firm to assist the Company’s board of directors with identifying a new Chief Financial Officer. John will continue in his role to ensure a smooth and constructive transition to his successor.
Conclusion
The recent financial results were the reason behind its positive performance in the after-markets on Tuesday and it approximately recovered its early loss. Let’s see how it commences trading on Thursday?
