Bark Box, the parent company of pet e-commerce company, saw revenue grow 78% in the third quarter

BARK is a dog-centric pet company committed to making the best products for dogs and making dogs and owners satisfied with services and content. BARK's team uses its unique , data-driven understanding of the special features of each dog to design products and services such as play- style toys , satisfying snacks and health products, and dog experiences to promote dog health and happiness.

Bark, the parent company of BarkBox and Super Chewer, will make its public debut following its public transaction with Northern Star Acquisition , which is expected to close in the second quarter of 2021 .

Founded in 2012, BARK faithfully serves dogs across the country through a monthly subscription service. Its business scope is extensive, including pet sub-brands BarkBox and Super Chewer , and operates pet e-commerce on its official website BarkShop , and has reached customized product partnerships with other retail e-commerce companies , such as Target and Amazon .

According to a company press release, the company reported a 78% year-over-year revenue increase in the third quarter , to approximately $105 million . During the period, subscription shipments increased 47% year-over-year to 1.1 million, while new subscriptions increased 66% year-over-year to 381,000 .

Bark also released results for the nine months ended Dec. 31, which included net income of $266 million and a net loss of $24 million, a slight improvement from a net loss of $27 million in the same period last year.

Since the start of the pandemic , the industry appears to be growing in popularity as consumers continue to invest more in their pets , and the brand has benefited greatly from this .

“Our strong revenue growth is the result of a combination of the company’s omnichannel sales approach , data-driven platform and solid customer engagement ,” Bark CEO Manish Joneja said in a statement. “Our pending merger with Polaris will provide BARK with the resources and capital to help capture significant growth opportunities in our new business lines and drive continued expansion as we work toward our mission of making all dogs happy.”

But the company's IPO also cast a less optimistic light on the financial results. The company said on Tuesday that customer acquisition costs in the third quarter increased by about 7% from last year to $60.40, further dampening Bark's earnings outlook.

The results highlight a trend in pet e-commerce as other direct-to-consumer brands like Wayfair, Chewy and Casper show how difficult it is to maintain profits by selling goods primarily online .

Bark also reiterated a previously announced outlook: For the fiscal year ending March 31, the companies expect revenue of $369 million and a net loss of $21 million. For 2022, the company expects revenue of $516 million and a net loss of $41 million.

Pet e-commerce

Bark Box

Third quarter