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For its fiscal second quarter, ended September 30, 2021, BARK’s revenue came in at $120.16 million, up 39.1% year-over-year. However, the company’s adjusted net loss increased 711.2% year-over-year to $11.03 million. In comparison, its adjusted EBITDA was negative $8.78 million compared to a $1.07 million gain in the year-ago period. Its shares have declined 16.8% in price since the earnings release on November 10.
Furthermore, the stock has lost more than 14% over the past three months to close yesterday’s trading session at $6.20. According to a report from The Zebra, 38.4% of American households own a dog. Dog ownership has increased amid the pandemic, with people spending more time at home. However, with the gradual economic recovery and several offices reopening, dog ownership growth might slow in the coming months. Moreover, high shipping costs are expected to harm BARK’s business in the near term, so its prospects look bleak.
