HomeMarket News BARK's Strong Q3 Revenue Guidance Excites...

BARK’s Strong Q3 Revenue Guidance Excites Investors BARK’s Strong Q3 Revenue Guidance Excites Investors

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Bark, the parent company of BarkBox, distribution center. BarkBox is a monthly subscription service providing dog products.

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BARK (NYSE:BARK) witnessed a remarkable surge in the consumer discretionary sector following the announcement of its preliminary Q3 revenue, which amounts to around $125 million. This figure surpassed the consensus estimate of $121 million and stood strong within the guidance range of $119 million to $123 million. Additionally, the company reiterated its adjusted EBITDA guidance range of -$5 million to -$8 million for the quarter.

Notably, the New York-based company reported its most robust customer acquisition quarter in two years across its BarkBox and Super Chewer products. The customer acquisition cost for the quarter was noted to be largely in-line with the same period last year.

“I am excited to share that we achieved one of our strongest customer acquisition quarters since becoming a public company, with customer acquisition costs also remaining efficient relative to prior holiday quarters,” stated CEO Matt Meeker. “We believe this performance, coupled with our ongoing profitability and cash generation improvements, will better enable us to create long-term shareholder value, and we look forward to sharing more details on our earnings call in February,” he added.

BARK (BARK) is set to report full FQ3 results on February 7.

Shares of BARK (BARK) rallied a staggering 16.78% in early trading on Tuesday and reached as high as $0.94 earlier in the session. The pet retail stock, however, is still significantly below its 52-week high of $2.29. Short interest on BARK stands at 12.3% of the total float.

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