BARK (BARK) Q1 2027 Earnings Call Transcript

BARK posted fiscal Q1 2027 revenue of $78.8 million, down 23.4% year-over-year, as the company pulled back marketing spend and managed a smaller subscriber base. Despite the top-line decline, retention improved 170 basis points to 92.8%, and average order value rose $0.45. Adjusted EBITDA reached $0.6 million, up from prior-year losses.

Management held full-year guidance at $325 million to $340 million in revenue and $7 million to $10 million in adjusted EBITDA. The company expects growth to resume in the second half of fiscal 2027, driven by the launch of Lixters enrichment toys, new retail partnerships with Crocs and Liquid Death, and continued strength in BARK Air.

The quarter reflects a deliberate shift from growth-at-any-cost toward profitability. The subscriber base contraction is planned, not accidental, as BARK focuses on higher-value customers with better retention. The question is whether new product launches and retail channels can deliver the second-half inflection management is forecasting.