Why BARK Shares Are Rising Today

Bark Inc BARK shares are trading higher after the company issued third-quarter sales guidance above estimates.

BARK announced preliminary fiscal third-quarter 2022 revenue of $140.0 million, a 33.1% increase compared to the same period last year. BARK had previously provided fiscal third-quarter guidance of $137 million to $139 million. Through the first three quarters of fiscal 2022, BARK’s top-line has increased approximately 41.8% to $377.8 million, compared to the same period in fiscal 2021.

The company Monday announced that Matt Meeker, Co-Founder and Executive Chairman of BARK, will become Chief Executive Officer, effective immediately.

BARK notes Mr. Meeker had served as Chief Executive Officer of BARK for nine years following its inception in 2011. The incumbent Chief Executive Officer, Manish Joneja, has informed the Board of Directors of his desire to resign in order to remain closer to his family in Seattle and will serve as an advisor to the company through April 2022 to ensure a smooth transition.

"I am eager to resume the role of Chief Executive Officer and build on the momentum that Manish and the talented team at BARK have achieved," said Matt Meeker, Co-Founder and Executive Chairman of BARK.

"I believe that the next few years will be transformative for BARK as we leverage our scale and brand to grow our footprint in areas like food and health—initiatives that I am passionate about personally," Meeker stated.

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BARK is a dog-centric company, devoted to making dogs happy with the best products, services and content.

BARK has a 52-week high of $17.25 and a 52-week low of $3.37.