Brief: BARK Reports Third Quarter Fiscal Year 2023 Results

Bark

09/02/2023 21:34

Feb 9 (Reuters) - BARK Inc  BARK.N :
    * BARK REPORTS THIRD QUARTER FISCAL YEAR 2023 RESULTS
    * IMPLEMENTED A COST REDUCTION INITIATIVE EXPECTED TO
GENERATE
APPROXIMATELY $12 MILLION OF ANNUAL COST SAVINGS, EFFECTIVE
IMMEDIATELY
    * REDUCING ITS FULL-TIME WORKFORCE BY ABOUT 12%, OR 126
EMPLOYEES
    * EXPECTS TO RECORD A CHARGE OF APPROXIMATELY $2.0 MILLION
IN
FISCAL Q4 2023 CONSISTING OF CASH SEVERANCE PAYMENTS
    * SEES Q4 TOTAL REVENUE OF $121 MILLION
    * SEES  FISCAL 2023 TOTAL REVENUE OF $530 MILLION, VERSUS
COMPANY'S PREVIOUS GUIDANCE OF $556 MILLION
    * Q3 REVENUE VIEW $134.2 MILLION -- REFINITIV IBES DATA
    * FY2023 REVENUE VIEW $555.9 MILLION -- REFINITIV IBES DATA
    * Q4 REVENUE VIEW $146.9 MILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nBw5ggsWra 
Further company coverage:  BARK.N 
 ((Reuters.Briefs@thomsonreuters.com;))