The company is now focused on dogs, devoted to providing products, services, and content for dogs and their owners.
Hi, this SPAC has now changed to the ticker $BARK. Will it be updated?
There is a lot to like. Subscription revenues are infinitely better than one of transactions, do you what their customer churn is? It can be high for B2C business and is a metric that speaks to the customer loyalty / stickiness.
I don’t know the financials but I do know that dog ownership is on the rise, lockdown has been a major part of that. I think the subscription box is a clever idea and if I had a dog, it’s definitely something I would buy and may well yet sign up to (been considering buying a Corgi for a while now). I guess this was an impulse buy for me with my lack of research!
It looks like there was some sort of merger though and the share price dropped after that, I don’t know if anyone knows what happened?
Highlights from last Earning Call:
- Delivered fiscal second quarter 2022 revenue of $120.2 million, a 39.1% increase year-over-year, and a robust gross margin of 58.2%.
- Added approximately 271,000 Active Subscriptions, bringing total to 2.1 million as of quarter-end.
- Achieved a quarterly LTV-to-CAC of 4.9x, driven by record Average Order Value, strong customer retention, and continued marketing efficiency.
- The Original Bark Company is changing its corporate name to BARK, Inc.; the Company expects this change to be effective on November 22, 2021.
General and administrative expenses were $68.2 million in the second quarter of fiscal year 2022, versus $39.3 million in the second quarter of fiscal year 2021. The year-over-year increase was driven by greater shipment volume associated with a 34.3% increase in total Subscription Shipments, higher outbound shipping and fulfillment rates associated with industry wide shipping congestion, as well as additional expenses in connection with the build out and staffing of our BARK Eats and BARK Bright businesses. The Company also incurred incremental expenses associated with being a newly public company.
Only skimmed, but previous reports suggested they have a 95% customer retention rate.
Bark products can be purchased direct, via Amazon, Petco & Target