BARK (BARK) 10-Q 9 Feb 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2022	Feb. 06, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-39691
Entity Registrant Name	BARK, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-1872418
Entity Address, Address Line One	120 Broadway
Entity Address, Address Line Two	Floor 12
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10271
City Area Code	855
Local Phone Number	501-2275
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		177,669,529
Central Index Key	0001819574
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--03-31
Amendment Flag	false
Common Stock, par value $0.0001
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001
Trading Symbol	BARK
Security Exchange Name	NYSE
Warrants, each warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
Document Information [Line Items]
Title of 12(b) Security	Warrants, each warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
Trading Symbol	BARK WS
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 164,181	$ 199,397
Accounts receivable—net	4,584	9,752
Prepaid expenses and other current assets	7,503	5,878
Inventory	145,269	153,115
Total current assets	321,537	368,142
PROPERTY AND EQUIPMENT—NET	40,084	28,128
INTANGIBLE ASSETS—NET	3,884	3,837
OPERATING LEASE RIGHT-OF-USE ASSETS	37,601	29,552
OTHER NONCURRENT ASSETS	4,256	4,402
TOTAL ASSETS	407,362	434,061
CURRENT LIABILITIES:
Accounts payable	27,269	36,834
Operating lease liabilities, current	5,650	5,060
Accrued and other current liabilities	30,888	35,168
Deferred revenue	32,916	31,549
Total current liabilities	96,723	108,611
LONG-TERM DEBT	81,037	76,190
OPERATING LEASE LIABILITIES	46,996	28,847
OTHER LONG-TERM LIABILITIES	528	3,352
Total liabilities	225,284	217,000
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS’ EQUITY:
Common stock, par value $0.0001 per share—500,000,000 shares authorized; 177,636,726 shares issued and outstanding as of December 31, 2022 and 500,000,000 shares authorized; 175,290,143 shares issued and outstanding as of March 31, 2022.	1	1
Additional paid-in capital	477,665	465,313
Accumulated deficit	(295,588)	(248,253)
Total stockholders’ equity	182,078	217,061
TOTAL LIABILITIES, AND STOCKHOLDERS’ EQUITY	$ 407,362	$ 434,061

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Mar. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	177,636,726	175,290,143
Common stock, shares outstanding (in shares)	177,636,726	175,290,143

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
REVENUE	$ 134,334,000	$ 140,812,000	$ 409,298,000	$ 378,580,000
COST OF REVENUE	54,144,000	62,403,000	172,952,000	160,493,000
Gross profit	80,190,000	78,409,000	236,346,000	218,087,000
OPERATING EXPENSES:
General and administrative	80,192,000	78,636,000	233,937,000	216,369,000
Advertising and marketing	21,747,000	26,828,000	53,441,000	61,053,000
Total operating expenses	101,939,000	105,464,000	287,378,000	277,422,000
LOSS FROM OPERATIONS	(21,749,000)	(27,055,000)	(51,032,000)	(59,335,000)
INTEREST INCOME (EXPENSE)—NET	(1,266,000)	(1,284,000)	(3,995,000)	(4,141,000)
OTHER INCOME (EXPENSE)—NET	1,745,000	15,098,000	7,710,000	31,887,000
NET LOSS BEFORE INCOME TAXES	(21,270,000)	(13,241,000)	(47,317,000)	(31,589,000)
PROVISION FOR INCOME TAXES	0	0	0	0
NET LOSS AND COMPREHENSIVE LOSS	(21,270,000)	(13,241,000)	(47,317,000)	(31,589,000)
NET LOSS AND COMPREHENSIVE LOSS	$ (21,270,000)	$ (13,241,000)	$ (47,317,000)	$ (31,589,000)
Net loss per common share attributable to common stockholders—basic (in USD per share)	$ (0.12)	$ (0.08)	$ (0.27)	$ (0.21)
Net loss per common share attributable to common stockholders—diluted (in USD per share)	$ (0.12)	$ (0.08)	$ (0.27)	$ (0.21)
Weighted average common shares used to compute net loss per share attributable to common stockholders—basic (in shares)	177,672,036	172,554,101	176,546,378	150,313,932
Weighted average common shares used to compute net loss per share attributable to common stockholders—diluted (in shares)	177,672,036	172,554,101	176,546,378	150,313,932

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Previously Reported	Revision of Prior Period, Reclassification, Adjustment	Common Stock	Common Stock Previously Reported	Common Stock Revision of Prior Period, Reclassification, Adjustment	Treasury Stock	Treasury Stock Previously Reported	Treasury Stock Revision of Prior Period, Reclassification, Adjustment	Additional Paid-in Capital	Additional Paid-in Capital Previously Reported	Additional Paid-in Capital Revision of Prior Period, Reclassification, Adjustment	Accumulated Deficit	Accumulated Deficit Previously Reported
Convertible Redeemable Preferred stock, beginning balance (in shares) at Mar. 31, 2021	7,752,515	7,752,515
Convertible Redeemable Preferred Stock, beginning balance at Mar. 31, 2021	$ 59,987	$ 59,987
Increase (Decrease) in Temporary Equity [Roll Forward]
Conversion of Preferred Shares (in shares)	(7,752,515)
Conversion of Preferred Shares	$ (59,987)
Convertible Redeemable Preferred Stock, ending balance (in shares) at Dec. 31, 2021	0
Convertible Redeemable Preferred Stock, ending balance at Dec. 31, 2021	$ 0
Shares outstanding, beginning balance (in shares) at Mar. 31, 2021				48,071,777	5,498,588	42,573,189	0	259,953	(259,953)
Beginning balance at Mar. 31, 2021	(158,970)	$ (158,970)	$ 0	$ 0	$ 0		$ 0	$ (4,764)	$ 4,764	$ 20,984	$ 25,748	$ (4,764)	$ (179,954)	$ (179,954)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(31,589)												(31,589)
Issuance for stock options exercised (in shares)				5,508,181
Issuance for stock options exercised	2,829									2,829
Issuance for warrants exercised (in shares)				1,931,621
Issuance for warrants exercised	1,019									1,019
Issuance for common stock vested (in shares)				20,000,000
Issuance for common stock vested	200,000									200,000
Restricted shares vesting (in shares)				7,124
Restricted shares vesting	0
Stock-based compensation	11,036									11,036
Conversion of Preferred Shares (in shares)				7,752,515
Conversion of Preferred Shares	59,987									59,987
Conversion of Convertible Notes (in shares)				1,135,713
Conversion of Convertible Notes	12,128									12,128
Net equity infusion from the Merger (in shares)				89,088,942
Net equity infusion from the Merger	150,257			$ 1						150,256
Cumulative translation adjustment	1												1
Shares outstanding, ending balance (in shares) at Dec. 31, 2021				173,495,873			0
Ending balance at Dec. 31, 2021	$ 246,698			$ 1			$ 0			458,239			(211,542)
Convertible Redeemable Preferred Stock, ending balance (in shares) at Dec. 31, 2021	0
Convertible Redeemable Preferred Stock, ending balance at Dec. 31, 2021	$ 0
Shares outstanding, beginning balance (in shares) at Sep. 30, 2021				171,069,553
Beginning balance at Sep. 30, 2021	253,879			$ 1						452,180			(198,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(13,241)												(13,241)
Issuance for stock options exercised (in shares)				2,426,047
Issuance for stock options exercised	1,698									1,698
Restricted shares vesting (in shares)				273
Restricted shares vesting	0
Stock-based compensation	4,209									4,209
Conversion of Convertible Notes	152									152
Cumulative translation adjustment	1												1
Shares outstanding, ending balance (in shares) at Dec. 31, 2021				173,495,873			0
Ending balance at Dec. 31, 2021	$ 246,698			$ 1			$ 0			458,239			(211,542)
Shares outstanding, beginning balance (in shares) at Mar. 31, 2022	175,290,143			175,290,143
Beginning balance at Mar. 31, 2022	$ 217,061			$ 1						465,313			(248,253)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(47,317)												(47,317)
Issuance for stock options exercised (in shares)				1,551,831
Issuance for stock options exercised	980									980
Issuance for common stock vested (in shares)				991,315
Issuance for common stock vested	0
Issuance of common stock in connection with the employee stock purchase plan (in shares)				109,186
Issuance of common stock in connection with the employee stock purchase plan	145									145
Common stock withheld for tax upon release (in shares)				(305,749)
Common stock withheld for tax upon release	(649)									(649)
Stock-based compensation	11,876									11,876
Cumulative translation adjustment	$ (18)												(18)
Shares outstanding, ending balance (in shares) at Dec. 31, 2022	177,636,726			177,636,726
Ending balance at Dec. 31, 2022	$ 182,078			$ 1						477,665			(295,588)
Shares outstanding, beginning balance (in shares) at Sep. 30, 2022				177,101,991
Beginning balance at Sep. 30, 2022	200,107			$ 1						474,404			(274,298)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(21,270)												(21,270)
Issuance for stock options exercised (in shares)				86,455
Issuance for stock options exercised	84									84
Issuance for common stock vested (in shares)				491,221
Issuance for common stock vested	0
Issuance of common stock in connection with the employee stock purchase plan (in shares)				109,186
Issuance of common stock in connection with the employee stock purchase plan	145									145
Common stock withheld for tax upon release (in shares)				(152,127)
Common stock withheld for tax upon release	(649)									(649)
Stock-based compensation	3,681									3,681
Cumulative translation adjustment	$ (20)												(20)
Shares outstanding, ending balance (in shares) at Dec. 31, 2022	177,636,726			177,636,726
Ending balance at Dec. 31, 2022	$ 182,078			$ 1						$ 477,665			$ (295,588)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (47,317)	$ (31,589)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation & amortization	6,508	2,924
Impairment of assets	1,661	0
Amortization of right-of-use assets	3,754	0
Amortization of deferred financing fees and debt discount	494	671
Bad debt expense	803	0
Stock-based compensation expense	11,876	11,036
Provision for inventory reserves	(2,486)	0
Loss on extinguishment of debt	0	2,024
Loss on exercise of equity classified warrants	0	303
Change in fair value of warrant liabilities and derivatives	(6,523)	(38,861)
Paid in kind interest on convertible notes	4,354	4,171
Changes in operating assets and liabilities:
Accounts receivable	4,365	(11,306)
Inventory	10,333	(73,236)
Prepaid expenses and other current assets	(222)	(425)
Other assets	155	(314)
Accounts payable and accrued expenses	(5,339)	(12,290)
Deferred revenue	1,367	9,033
Proceeds from tenant improvement allowances	6,177	0
Operating lease liabilities	(2,307)	0
Other liabilities	(2,139)	(8,678)
Net cash used in operating activities	(14,486)	(146,537)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(18,854)	(17,605)
Net cash used in investing activities	(18,854)	(17,605)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of finance fees	0	(641)
Payments of transaction costs	0	(25,233)
Payment of deferred underwriting fees	0	(8,902)
Payment of finance lease obligations	(2,326)	(427)
Proceeds from equity infusion from the Merger, net of redemptions	0	227,092
Proceeds from PIPE Issuance	0	200,000
Proceeds from the exercise of stock options	980	2,829
Proceeds from the exercise of warrants	0	121
Proceeds from issuance of common stock under ESPP	145	0
Tax payments related to the issuance of common stock	(649)	0
Payments of long-term debt	0	(39,457)
Net cash provided by financing activities	(1,850)	355,382
Effect of exchange rate changes on cash	(18)	1
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(35,208)	191,240
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—BEGINNING OF PERIOD	201,679	39,731
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD	166,471	230,972
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Cash and cash equivalents	164,181	228,692
Restricted cash - Other noncurrent assets	2,290	2,280
Total cash, cash equivalents and restricted cash	166,471	230,972
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Purchases of property and equipment included in accounts payable and accrued liabilities	342	483
Cash paid for interest	275	776
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Establishment of operating lease	24,576	0
Lease modification and termination	3,532	0
Conversion of preferred stock to common stock	0	59,987
Capital contribution related to extinguishment of debt	0	536
Issuance of common stock related to cashless exercise of liability classified warrants	0	595
2025 Convertible Notes
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common stock related to convertible notes	$ 0	$ 13,367

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	9 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	ORGANIZATION AND DESCRIPTION OF BUSINESS BARK, Inc. (the “Company”), a Delaware corporation formerly known as The Original BARK Company and, prior to the Merger (as defined below in Note 3), Northern Star Acquisition Corp. ("Northern Star") , is an omnichannel brand serving dogs across the four key categories of Play, Food, Health and Home. The Company is located and headquartered in New York, New York. Following the closing of the business combination discussed in Note 3 below, the Company changed its name to “The Original BARK Company,” and in November 2021 changed its name to BARK, Inc.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation —The accompanying condensed consolidated financial statements include the accounts of BARK, Inc. and its wholly-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s audited consolidated financial statements as of and for the years ended March 31, 2022 and 2021 contained in the Annual Report on Form 10-K filed with the SEC on May 31, 2022. The consolidated balance sheet as of March 31, 2022, included herein, was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including certain notes required by U.S. GAAP, required on an annual reporting basis. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods. The results for the three months and nine months ended December 31, 2022 are not necessarily indicative of the results to be expected for any subsequent quarter, the year ending March 31, 2023, or any other period. There have been no material changes to the Company’s significant accounting policies as described in the audited consolidated financial statements as of March 31, 2022 and 2021. Although the Company has incurred recurring losses in each year since inception, the Company expects its cash and cash equivalents will be sufficient to fund operations for at least the next twelve months. Use of Estimates— The Company makes estimates and assumptions about future events that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Future events and their effects cannot be determined with certainty. On an ongoing basis, management evaluates these estimates, judgments and assumptions. The Company bases its estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s condensed consolidated financial statements. The most significant estimates relate to determination of fair value of the Company’s allowance for uncollectible accounts receivable, allowance for inventory obsolescence, stock-based compensation, fair value of right-of-use assets and the valuation of embedded derivatives. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and records adjustments when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from those estimates. Impact of the COVID-19 Pandemic —The Company continues to monitor the impact of the COVID-19 pandemic, including the emergence and spread of variants of COVID-19 on the U.S. and global economies and on the Company’s operating results, financial condition and cash flows. The estimates of the impact COVID-19 may have on the Company’s business may change based on new information that may emerge concerning COVID-19, the actions to contain it or treat its impact and the economic impact on local, regional, national and international markets. The Company has not incurred any significant impairment losses in the carrying values of its assets as a result of the COVID-19 pandemic and is not aware of any specific related event or circumstance that could require the Company to revise the estimates reflected in its condensed consolidated financial statements. Fair Value of Financial Instruments —The Company’s financial instruments, including cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued expenses, are carried at historical cost. At December 31, 2022 and March 31, 2022, the carrying amounts of these instruments approximated their fair values because of their short-term nature. The carrying amounts of the Company’s long-term debt approximate the fair value based on consideration of current borrowing rates available to the Company. Assets and liabilities recorded at fair value on a recurring basis in the condensed consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows: Level 1 —Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date; Level 2 —Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and Level 3 —Unobservable inputs that are supported by little or no market data for the related assets or liabilities. The categorization of a financial instrument within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following summarizes assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy (in thousands): As of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Money market funds (1) $ 55,077 $ — $ — $ 55,077 $ 55,077 $ — $ — $ 55,077 Liabilities Public warrant liability (2) $ 1,272 $ — $ — $ 1,272 Private warrant liability (2) — 684 — 684 $ 1,272 $ 684 $ — $ 1,956 As of March 31, 2022 Level 1 Level 2 Level 3 Total Liabilities Public warrant liability (2) $ 5,516 $ — $ — $ 5,516 Private warrant liability (2) — 2,963 — 2,963 $ 5,516 $ 2,963 $ — $ 8,479 ______________ (1) As of December 31, 2022, the Company had cash equivalents held in a money market account. The Company has concluded that due to the highly liquid nature of the money market account, the carrying value approximates fair value, which represents a Level 1 input. The balance of cash equivalents held in the money market account is included in cash and cash equivalents. (2) Included in accrued and other current liabilities. The Company’s warrants include publicly-traded warrants (the “Public Warrants”) which were issued as one-third of a warrant per unit issued during the Company’s initial public offering on November 10, 2020 (the “IPO”), warrants sold in a private placement to Northern Star’s sponsor (the “Private Warrants”), and preferred share warrants issued by Legacy BARK which were assumed by the Company in connection with the Merger and exchanged into warrants for BARK common stock (the “Common Stock Warrants”). All of the Common Stock Warrants have been exercised and are no longer outstanding. The Company evaluated its warrants under Accounting Standards Codification (“ASC”) ASC 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity, and concluded that they do not meet the criteria to be classified in stockholders’ equity. Since the Public Warrants and Private Warrants meet the definition of a derivative under ASC 815, the warrants have been recorded as current liabilities on the balance sheet at fair value upon issuance, with subsequent changes in their respective fair values recognized in other income, net on the condensed consolidated statements of operations and comprehensive income (loss) at each reporting date. See further disclosure on the change in fair value of Public and Private Warrant liabilities within Note 10, “Other Income (Expense) - Net.” Restricted Cash —The Company has restricted cash to secure a letter of credit for two of its leases, restricted cash is expected to be maintained as a security deposit for the duration of each respective lease. As of both December 31, 2022 and March 31, 2022, the Company has classified $2.3 million within other noncurrent assets, as restricted cash. Concentration of Credit Risk and Major Customers and Suppliers —Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains cash and cash equivalents with one domestic financial institution of high credit quality. The Company’s accounts receivable are derived from sales contracts with large retail customers. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary. Significant customers are those that represent more than 10% of the Company’s total revenues or gross accounts receivable balance at each balance sheet date. For the three and nine months ended December 31, 2022 and 2021, the Company did not have any customers that accounted for 10% or more of total revenues. The Company had two customers that accounted for 59% of gross accounts receivable as of December 31, 2022 and March 31, 2022, respectively. The Company’s accounts receivable relates to sales to customers within the Commerce segment, which represented 10.6% and 13.0% of total revenue for the three and nine months ended December 31, 2022, respectively, and 16.1% and 12.7% of total revenue for the three and nine months ended December 31, 2021, respectively. Significant suppliers are those that represent more than 10% of the Company’s total finished goods purchased or accounts payable at each balance sheet date. During the three months ended December 31, 2022 and 2021, the Company had two suppliers that accounted for 30% of total finished goods purchased and two suppliers that accounted for 26% of total finished goods purchased, respectively. During the nine months ended December 31, 2022 and 2021, the Company had two suppliers that accounted for 30% of total finished goods purchased and two suppliers that accounted for 29% of total finished goods purchased, respectively. The Company had two suppliers that accounted for 49% of the accounts payable balance and two suppliers that accounted for 26% of the accounts payable balance as of December 31, 2022 and March 31, 2022, respectively. Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes. This update amends and simplifies the accounting for income taxes by eliminating certain exceptions in existing guidance related to performing intraperiod tax allocation, calculating interim period taxes, and recognizing deferred taxes for investments. The update also provides new guidance to reduce complexity in certain areas. The Company adopted this guidance on April 1, 2022. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40), which simplifies the accounting for convertible instruments by removing major separation models required under current guidance. ASU 2020-06 also removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and simplifies the diluted earnings per share calculation in certain areas. ASU 2020-06 is effective for annual reporting periods beginning after December 15, 2021, including interim periods within those annual reporting periods, with early adoption permitted. The Company adopted this guidance on April 1, 2022. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements.

MERGER

MERGER	9 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
MERGER	MERGER On June 1, 2021 (the “Closing Date”), Northern Star completed the acquisition of Barkbox, Inc., a Delaware corporation (“Legacy BARK” and the acquisition, the “Merger”), pursuant to that certain Agreement and Plan of Reorganization (the “Merger Agreement”), dated December 16, 2020, by and among Northern Star, NSAC Merger Sub Corp., a Delaware corporation and wholly-owned subsidiary of Northern Star (“Merger Sub”), and Legacy Bark. Immediately upon the consummation of the Merger and the other transactions contemplated by the Merger Agreement (collectively, the “Transactions” and the consummation of the Transactions, the “Closing”), Merger Sub merged with and into Legacy BARK, with Legacy BARK surviving the Business Combination as a wholly-owned subsidiary of the Company. In connection with the Transactions, the Company changed its name to “The Original BARK Company,” and in November 2021 changed its name to BARK, Inc. The Merger is accounted for as a reverse recapitalization in accordance with U.S. GAAP primarily due to the fact that Legacy BARK stockholders continue to control the Company post the closing of the Merger. Under this method of accounting, Northern Star is treated as the “acquired” company for accounting purposes and the Merger is treated as the equivalent of Legacy BARK issuing stock for the net assets of Northern Star, accompanied by a recapitalization. The net assets of Northern Star are stated at historical cost, with no goodwill or other intangible assets recorded. Reported shares and earnings per share available to holders of the Company’s common stock and equity awards prior to the Business Combination have been retroactively restated reflecting the exchange ratio established pursuant to the Business Combination Agreement (1:8.7425). Treasury stock has also been retrospectively restated to reflect the cancellation and extinguishment of the shares pursuant to the Business Combination Agreement. Pursuant to the Merger, on the Closing Date, each stockholder of Legacy BARK’s common and preferred stock, (including stockholders issued common stock as a result of the conversion of Legacy BARK’s outstanding convertible promissory notes issued in 2019 and 2020 (other than the 2025 Convertible Notes - see Note 5, “Debt”)) received 8.7425 shares of the Company’s common stock, par value $0.0001 per share, per share of Legacy BARK’s common stock and preferred stock, respectively, owned by such Legacy BARK stockholder that was outstanding immediately prior to the Closing Date. In addition, pursuant to the terms of the Merger Agreement, at the effective time of the Merger, (1) options to purchase shares of Legacy BARK’s common stock were converted into options to purchase an aggregate of 29,257,576 shares of the Company's common stock and (2) warrants to purchase shares of Legacy BARK’s common and redeemable convertible preferred stock were converted into warrants to purchase an aggregate of 1,897,212 shares of the Company's common stock. Additionally, at the Closing: • the conversion obligations with respect to Legacy BARK’s 5.50% convertible senior secured notes due 2025 (the “2025 Convertible Notes”) were assumed by the Company and the 2025 Convertible Notes became convertible at the election of the holders into shares of the Company's common stock. As of the Closing, the 2025 Convertible Notes were convertible at the election of the holder into an aggregate of 7,713,121 shares of the Company's common stock based on the then outstanding principal and accrued interest. The 2025 Convertible Notes are still outstanding as of December 31, 2022; • certain investors (the “PIPE Investors”) purchased an aggregate of 20,000,000 shares of the Company's common stock in a private placement at a price of $10.00 per share for an aggregate purchase price of $200.0 million (the “PIPE Issuance”); • each of the 6,358,750 outstanding shares of Northern Star’s Class B common stock were converted into a share of the Company's common stock on a one-for-one basis. Each outstanding warrant of Northern Star entitles the holder to purchase shares of the Company's common stock at a price of $11.50 per share beginning on November 13, 2021; and • the Company amended and restated its amended and restated certificate of incorporation, increasing the number of shares of common stock the Company is authorized to issue to 500,000,000 shares.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	9 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	REVENUE FROM CONTRACTS WITH CUSTOMERSThe Company generates revenue through its Direct to Consumer segment which consists of product sales of monthly subscription boxes, as well as sales through its website, BarkShop.com, and its Commerce segment which generates revenue from product sales to retailers and through marketplaces. The Company’s standard payment terms vary but do not result in a significant delay between the timing of invoice and payment. The Company occasionally negotiates other payment terms during the contracting process for its retail business. The Company has elected the practical expedient to not adjust the total consideration within a contract to reflect a financing component when the duration of the financing is one year or less. Disaggregated Revenue Revenue disaggregated by significant revenue stream for the three and nine months ended December 31, 2022 and 2021 were as follows (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Revenue Direct to Consumer: Toys and treats subscription $ 114,673 $ 114,270 $ 342,076 $ 321,343 Other 5,402 3,854 13,942 8,973 Total Direct to Consumer $ 120,075 $ 118,124 $ 356,018 $ 330,316 Commerce 14,259 22,688 53,280 48,264 Revenue $ 134,334 $ 140,812 $ 409,298 $ 378,580 Contract Liability The Company’s contract liability represents cash collections from its customers prior to delivery of subscription products, which is recorded as deferred revenue on the condensed consolidated balance sheets. Deferred revenue is recognized as revenue upon the delivery of the box or product. Deferred revenue was $32.9 million and $31.5 million as of December 31, 2022 and March 31, 2022, respectively. Performance Obligations

DEBT

DEBT	9 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
DEBT	DEBT As of December 31, 2022 and March 31, 2022, long-term debt consisted of the following (in thousands): As of December 31, As of March 31, 2022 2022 2025 Convertible Notes $ 83,525 $ 79,171 Less: deferred financing fees and debt discount (2,488) (2,981) Total long-term debt $ 81,037 $ 76,190 2025 Convertible Notes On November 27, 2020, the Company issued $75.0 million aggregate principal amount of 2025 Convertible Notes (the “2025 Convertible Notes”) to Magnetar Capital, LLC (“Magnetar”) under an indenture, dated as of November 27, 2020, between Legacy BARK and U.S. Bank National Association, as trustee and collateral agent (the “Indenture”). The Company received net proceeds of approximately $74.7 million from the sale of the 2025 Convertible Notes, after deducting fees and expenses of approximately $0.3 million. The Company recorded the expenses as a discount to the note and will amortize the expenses over the term of the note. The 2025 Convertible Notes will mature on December 1, 2025, unless earlier converted, redeemed or repurchased. The Company used approximately $27.6 million of the net proceeds from the sale of the 2025 Convertible Notes to repay the previously outstanding term loans with Western Alliance Bank and Pinnacle, which included $2.0 million of early repayment fees related to the Pinnacle loan. The 2025 Convertible Notes are governed by the Indenture. The 2025 Convertible Notes bear interest at the annual rate of 5.50%, payable entirely in payment-in-kind annually on December 1 st of each year commencing December 1, 2021, compounded annually. The accrued interest of $4.4 million and $4.2 million was paid-in-kind through an increase of the outstanding principal on the 2025 Convertible Notes on December 1, 2022 and 2021, respectively. If the 2025 Convertible Notes are not converted into common stock by the maturity date, the Company must repay the outstanding principal amount plus accrued interest. The 2025 Convertible Notes contain call and put options to be settled in cash contingent upon the occurrence of a change of control and a default interest rate increase of 3.0% applicable upon the occurrence of an event of default that when evaluated under the guidance of ASC 815, Derivatives and Hedging , are embedded derivatives requiring bifurcation at fair value. The fair value calculation includes Level 3 inputs including the estimated fair value of the Company’s common stock and assumptions regarding the probability that the contingent call or put will be exercised or an event of default will occur. Management determined that the probability that the contingent events will occur was near zero at inception and has remained near zero as of December 31, 2022. Therefore, the Company did not record a derivative liability related to these features as of December 31, 2022. The Company will assess the probability of occurrence quarterly during the term of the 2025 Convertible Notes. As of December 31, 2022 and March 31, 2022, the Company had $83.5 million and $79.2 million, respectively, of outstanding borrowings under the note purchase agreement governing the purchase and sale of the 2025 Convertible Notes agreement. Western Alliance Bank—Line of Credit and Term Loan In October 2017, the Company entered into a loan and security agreement (the “Western Alliance Agreement”) and issued a warrant to purchase preferred stock (“Initial Western Alliance Warrant”) to Western Alliance Bank (“Western Alliance”), which provided for a secured revolving line of credit (the “Credit Facility”) in an aggregate principal amount of up to $35.0 million with a maturity date of October 12, 2020. On December 7, 2018, the Company amended the Western Alliance Agreement, which included the issuance of a warrant to purchase common stock (“Subsequent Western Alliance Warrant”) to Western Alliance. The modification to the Western Alliance Agreement provided for an additional term loan of $10.0 million at issuance and an incremental seasonal loan of $5.0 million. The seasonal loan matured and was repaid on March 31, 2020. The term loan had a maturity date of December 31, 2021. On July 31, 2020, the Company amended the Western Alliance Agreement and extended the expiration of the warrants to July 31, 2030. The modification to the Western Alliance Agreement amended the maturity date of the Credit Facility to August 12, 2021. On November 27, 2020, the Company repaid the outstanding $10.0 million principal of the term loan with Western Alliance Bank, as well as $0.2 million of early repayment fees, using proceeds from the issuance of the 2025 Convertible Notes. See further discussion of the 2025 Convertible Notes issuance above. In conjunction with the 2025 Convertible Notes issuance, the Company amended the Western Alliance Agreement to extend the Credit Facility repayment date from August 12, 2021 to December 31, 2021. On January 22, 2021, the Company amended the Western Alliance Agreement to extend the Credit Facility maturity date to May 31, 2022. On October 29, 2021, the Company and Western Alliance entered into the eleventh loan and security modification agreement, which increased the sublimit for foreign exchange services and export, import, and standby letters of credit under the Company’s existing loan and security agreement with Western Alliance to $2.7 million. On May 27, 2022, the Company and Western Alliance entered into the twelfth loan and security modification agreement, which extended the Credit Facility maturity date to June 30, 2022. On June 30, 2022, the Company and Western Alliance entered into the thirteenth loan and security modification agreement, which extended the Credit Facility maturity date to July 15, 2022. On August 3, 2022, the Company and Western Alliance entered into the fourteenth loan and security modification agreement, which extended the Credit Facility maturity date to May 31, 2023. The interest rate for borrowings under the Credit Facility, as amended, is equal to (i) the greater of the prime rate that is published in the Money Rates section of The Wall Street Journal from time to time (the “Prime Rate”) and five and one quarter percent 5.25%, plus (ii) half of one percent (0.50%), per annum. The Credit Facility has a borrowing base subject to an amount equal to eighty percent (80.00%) of the Company’s trailing three months of subscription revenue and an amount equal to (80.00%) of certain of the Company’s customer accounts receivable when a collateral audit is performed and sixty percent (60.00%) when no such collateral audit is performed. Western Alliance has first perfected security in substantially all of the Company’s assets, including its rights to its intellectual property. As of December 31, 2022 and March 31, 2022, there were no outstanding borrowings under the Credit Facility. The full amount of the Credit Facility of $35.0 million is available to be borrowed by the Company if or when needed through the termination date of the agreement of May 31, 2023. Under the terms of this Credit Facility, the Company is required to comply with certain financial and non-financial covenants, including covenants to maintain certain liquidity amounts, as defined in the amended Western Alliance Agreement. As of December 31, 2022 and March 31, 2022, the Company was compliant with its financial covenants.

STOCK-BASED COMPENSTION PLANS

STOCK-BASED COMPENSTION PLANS	9 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSTION PLANS	STOCK-BASED COMPENSATION PLANS Equity Incentive Plans The Barkbox, Inc. 2011 Stock Incentive Plan (as amended from time to time, the “2011 Plan”) provides for the award of stock options and other equity interests in the Company to directors, officers, employees, advisors or consultants of the Company. On June 1, 2021, in connection with the Merger, the 2021 Equity Incentive Plan (the “2021 Plan”) became effective and 16,929,505 authorized shares of common stock were reserved for issuance thereunder. In addition, pursuant to the terms of the Merger Agreement, on the Closing Date of the Merger, options to purchase shares of Legacy BARK’s common stock previously issued under the 2011 Plan were converted into options to purchase an aggregate of 29,390,344 shares of BARK common stock. As of December 31, 2022, 12,039,811 shares of common stock were available for the Company to grant under the 2021 Stock Plan; there were no more shares available for grant under the 2011 Plan. Beginning on April 1, 2022 and ending on (and including) March 31, 2031, the aggregate number of shares of common stock that may be issued under the 2021 Plan shall increase by a number, determined by the Company's Board of Directors on or before May 1st of such fiscal year, not to exceed 5% of the total number of shares of common stock issued and outstanding on the last day of the preceding fiscal year. The 2011 and 2021 Plans (together, the “Plans”) are administered by the Company’s Compensation Committee of its Board of Directors (the “Compensation Committee”). The exercise prices, vesting and other restrictions are determined by the Board of Directors (the “Board”), except that the exercise price per share of a stock option may not be less than 100% of the fair value of the common share on the date of grant. Stock options awarded under the Plans typically expire 10 years after the date of the grant and generally have vesting conditions of 25% on the first anniversary of the date of grant and 75% on a monthly basis at a rate of 1/36th unless otherwise determined by the Compensation Committee. Restricted stock units (“RSU”) awarded under the plan for the purchase of common stock will vest based on continued service which is generally four years. The grant date fair value of the award will be recognized as compensation expense over the requisite service period. The fair value of the RSUs is estimated on the date of grant based on the fair value of the Company’s common stock. The Plans provide that the Compensation Committee shall determine the vesting conditions of awards granted under the Plans, and the Compensation Committee has from time to time approved vesting schedules for certain awards that deviate from the vesting conditions described in the previous sentence. Employee Stock Purchase Plan In June 2021, the 2021 Employee Stock Purchase Plan (the “2021 ESPP”) became effective. The 2021 ESPP authorizes the issuance of shares of common stock pursuant to purchase rights granted to employees. A total of 3,385,901 shares of common stock have been reserved for future issuance under the 2021 ESPP. On the first day of each fiscal year commencing on April 1, 2022 and ending on (and including) March 31, 2041, the aggregate number of shares of common stock that may be issued under the ESPP shall increase by a number, determined by the Company's board of directors on or before May 1st of such fiscal year, not to exceed the lesser of (i) one percent (1%) of the total number of shares of common stock issued and outstanding on the last day of the preceding fiscal year or (ii) 1,500,000 shares of common stock. If the Board of Directors does not determine to increase the aggregate number of shares of common stock in the ESPP by May 1st of such fiscal year, such increase shall be zero. Employees who elect to participate in the ESPP commence payroll withholdings that accumulate through the end of the respective offering period. In accordance with the guidance in ASC 718-50 - Compensation - Stock Compensation, the ability to purchase shares of the Company’s common stock for eighty-five percent (85%) of the lower of the price on the first day of the offering period or the last day of the offering period (i.e. the purchase date) represents an option and, therefore, the ESPP is a compensatory plan under this guidance. Accordingly, share-based compensation expense is determined based on the option’s grant-date fair value as estimated by applying the Black Scholes option-pricing model and is recognized over the withholding period. During the three and nine months ended December 31, 2022, employees who elected to participate in the ESPP purchased a total of 109,186 shares of common stock, resulting in cash proceeds to the Company of approximately $0.1 million. ESPP employee payroll contributions accrued as of December 31, 2022 were less than $0.1 million, and are included within accrued and other current liabilities in the condensed consolidated balance sheet. Cash withheld via employee payroll deductions is presented in financing activities as proceeds from stock purchases under employee stock purchase plan on the consolidated statement of cash flows. Stock Option Activity During the nine months ended December 31, 2022 the Company granted to its employees equity awards to purchase an aggregate of 1,575,074 shares of common stock with a weighted average exercise price of $2.94 vesting over a four-year period. Restricted Stock Unit (“RSU”) Activity During the nine months ended December 31, 2022 the Company granted to its employees RSUs for the purchase of 7,428,120 shares of common stock. Market-based Award On April 15, 2022, pursuant to the 2021 Plan, the Company granted its CEO a market condition performance option award for the purchase of up to 600,000 shares of the Company’s common stock. The award had a grant date fair value of approximately $0.7 million using a Monte Carlo simulation model. Options under this market-based award will vest based on achievement of stock price targets of the Company's common stock. The right to purchase 200,000 shares of common stock under the options vests when the stock price meets or exceeds $8.00 per share for 30 consecutive days, the right to purchase 200,000 shares of common stock under the options vest when the stock price meets or exceeds $12.00 per share for 30 consecutive days, and the right to purchase 200,000 shares of common stock under the options vests when the stock price meets or exceeds $16.00 per share for 30 consecutive days. These market-based conditions must be met in order for this option award to vest, and it is therefore possible that no awards would ultimately vest. The Company will recognize compensation expense for this award regardless of whether such conditions are met. The fair value is expensed over the requisite service period. Stock-based Compensation The following table summarizes the total stock-based compensation expense by function for the three and nine months ended December 31, 2022 and 2021, which includes expense related to options and RSUs (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 General and administrative $ 3,354 $ 2,200 $ 10,937 $ 4,599 Advertising and marketing 327 2,009 939 6,437 Total stock-based compensation expense $ 3,681 $ 4,209 $ 11,876 $ 11,036

LEASES

LEASES	9 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASES	LEASES The Company has operating leases for its offices and fulfillment centers. Fulfillment and customer service centers and corporate office leases expire at various dates through 2038, excluding renewal options. On October 29, 2021, the Company entered into a lease agreement for a new office space in New York, New York to serve as the Company’s new headquarters. During the third quarter of fiscal 2023 the Company completed the move to the new headquarters. In accordance with ASC 842, Leases , the lease was classified as an operating lease. The new lease requires total lease payments of $39.8 million with a lease term of 16.5 years, excluding renewal options. Rent expense is recorded on a straight-line basis over the lease term. Lease payments commence starting October 1, 2023, however, the Company took initial possession of the new headquarters on April 1, 2022 to begin constructing leasehold improvements, which resulted in an initial recording of a right-of-use asset of $17.0 million, other current asset of $7.6 million and corresponding operating lease liability of $24.6 million, and commencement of operating lease expense. The Company has the right to sublease all, or a portion, of this leased office space provided that certain terms and conditions are met. The Company also leases certain equipment under operating and finance leases. The terms of equipment leases are generally five years and do not contain renewal options. These finance leases expire at various dates through 2026. The Company’s finance leases as of December 31, 2022 and March 31, 2022 were not material and were included in property and equipment, net, on the Company’s condensed consolidated balance sheets. The following schedule represents the components of the Company’s operating lease assets (in thousands): As of As of Leases Classification December 31, 2022 March 31, 2022 Assets Operating Operating lease right-of-use assets $ 37,601 $ 29,552 Total operating lease assets $ 37,601 $ 29,552 Liabilities Operating lease liabilities (current) Operating lease liabilities, current $ 5,650 $ 5,060 Operating lease liabilities Operating lease liabilities $ 46,996 $ 28,847 Total operating lease liabilities $ 52,646 $ 33,907 During the three and nine months ended December 31, 2022, the Company vacated the prior headquarters in New York, New York and recorded impairments of $1.5 million and $1.7 million, respectively, to its right-of-use assets associated with the vacated location based on projected or actual sublease rental income and actual or estimated sublease commencement dates and the remeasurement of its operating lease liabilities associated with the modification of certain leases and the early termination of certain leases within the suite of leases pertaining to its prior headquarters. The impairment analyses were performed at the asset group level and the impairment charges were estimated by comparing the fair value of each asset group based on the expected cash flows to its respective book value. The Company determined the discount rate for each asset group based on the approximate interest rate on a collateralized basis with similar remaining terms and payments as of the impairment date. Significant judgment was required to estimate the fair value of each asset group and actual results could vary from the estimates, resulting in potential future adjustments to amounts previously recorded. For the nine months ended December 31, 2022 assets acquired in exchange for new operating lease liabilities pertained to the new headquarters and was $17.0 million. Lease expense primarily pertains to operating lease cost. Lease expense for operating leases was $2.2 million and $1.5 million for the three months ended December 31, 2022 and 2021, respectively. Lease expense for operating leases was $6.7 million and $3.7 million for the nine months ended December 31, 2022 and 2021, respectively. These lease expenses were included within general and administrative expenses in the condensed consolidated statements of operations. Sublease income for the three and nine months ended December 31, 2022 was immaterial and was recorded within other income (expense), net on the Company’s condensed consolidated statement of operations. Cash flows used in operating activities related to operating leases was approximately $2.3 million for the nine months ended December 31, 2022.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation On September 1, 2022, plaintiff Amber Farmer filed a complaint against BarkBox, Inc., in the U.S. District Court for the Central District of California. Farmer v. BarkBox, Inc., No. 2:22-cv-06242 (C.D. Cal.). The plaintiff alleges that BarkBox violates California’s Automatic Renewal Law, Unfair Competition Law, and Consumers Legal Remedies Act by failing to adequately disclose the automatic renewal of BarkBox’s subscription plans. The plaintiff seeks to represent a class containing all consumers who purchased a subscription from BarkBox in California. We filed a Motion to Dismiss and Motion to Compel Arbitration on November 4, 2022. While we intend to vigorously defend against this litigation, this case is at a very early stage and there can be no assurance that we will be successful in our defense. For this same reason, we cannot currently estimate the loss or the range of possible losses we may experience in connection with this litigation.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company did not record a federal, state, or foreign income tax provision or benefit for the three months or nine months ended December 31, 2022 and 2021 due to the expected loss before income taxes to be incurred for the fiscal year ended March 31, 2023, and actual loss before income taxes incurred for the fiscal year ended March 31, 2022, as well as the Company’s continued maintenance of a full valuation allowance against its net deferred tax assets.

OTHER INCOME (EXPENSE)_NET

OTHER INCOME (EXPENSE)—NET	9 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
OTHER INCOME (LOSS) - NET	OTHER INCOME (EXPENSE)—NETOther income (expense)—net consisted of the following: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Other income (expense) — net: Other income $ 181 $ 54 $ 1,187 $ 236 Change in fair value of warrants 1,564 14,470 6,523 33,978 Gain (loss) on extinguishment of debt — 574 — (2,024) Loss on warrant exercise — — (303) $ 1,745 $ 15,098 $ 7,710 $ 31,887

NET LOSS PER SHARE

NET LOSS PER SHARE	9 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE Basic and diluted net income (loss) per share attributable to common stockholders was calculated as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Numerator: Net income (loss) attributable to common stockholders—basic and diluted $ (21,270) $ (13,241) $ (47,317) $ (31,589) Denominator: Weighted average common shares outstanding—basic and diluted 177,672,036 172,554,101 176,546,378 150,313,932 Net income (loss) per share attributable to common stockholders Net income (loss) per share attributable to common stockholders - basic and diluted $ (0.12) $ (0.08) $ (0.27) $ (0.21) For the three and nine months ended December 31, 2022 , the Company’s potential dilutive securities, which include stock options, RSUs, warrants and convertible notes have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of shares of common stock outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same for the three and nine months ended December 31, 2022 . For the three and nine months ended December 31, 2021, the Company’s potential dilutive securities, which include redeemable convertible preferred stock, stock options and warrants, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of shares of common stock outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same for the three and nine months ended December 31, 2021. The Company excluded the following potential shares of common stock, presented based on amounts outstanding at December 31, 2022 and 2021 from the computation of diluted net loss per share attributable to common shareholders for the three and nine months ended December 31, 2022 and 2021 because including them would have had an anti-dilutive effect. As of December 31, 2022 2021 Stock options to purchase common stock 16,068,852 23,902,292 Restricted stock units 8,615,450 1,979,396 Warrants to purchase common stock 13,036,333 13,036,333 2025 Convertible Notes as converted to common stock 8,390,774 7,952,919

SEGMENTS

SEGMENTS	9 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
SEGMENTS	SEGMENTS The Company applies ASC 280, Segment Reporting , in determining reportable segments for its financial statement disclosure. The Company has two reportable segments: Direct to Consumer and Commerce. The Direct to Consumer segment derives revenue from the sale of BarkBox, Super Chewer, BARK Bright and BARK Food subscriptions, as well as product line sales through the Company’s website, BarkShop. The Commerce segment derives revenue from the sale of toys, BARK Bright and BARK Home products through major retailers and online marketplaces. Reporting in this format provides management with the financial information necessary to evaluate the success of the segments and the overall business. There are no internal revenue transactions between the Company’s segments. The Chief Executive Officer, as the chief operating decision maker (“CODM”) reviews revenue and gross profit for both of the reportable segments. Gross profit is defined as revenue less cost of revenue incurred by the segment. The Company does not allocate assets at the reportable segment level as these are managed on an entity wide group basis and, accordingly, the Company does not report asset information by segments. Key financial performance measures of the segments including revenue, cost of revenue, and gross profit are as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Direct to Consumer: Revenue $ 120,075 $ 118,124 $ 356,018 $ 330,316 Cost of revenue 45,878 47,876 138,961 131,195 Gross profit 74,197 70,248 217,057 199,121 Commerce: Revenue 14,259 22,688 53,280 48,264 Cost of revenue 8,266 14,527 33,991 29,298 Gross profit 5,993 8,161 19,289 18,966 Consolidated: Revenue 134,334 140,812 409,298 378,580 Cost of revenue 54,144 62,403 172,952 160,493 Gross profit $ 80,190 $ 78,409 $ 236,346 $ 218,087

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Delaware Section 205 Petition As previously disclosed, on February 7, 2023, the Company filed a petition in the Delaware Court of Chancery (the “Court of Chancery”) pursuant to Section 205 of the Delaware General Corporation Law (“DGCL”), seeking validation of an amendment to its certificate of incorporation increasing the authorized common stock of the Company (as further described below) and the shares issued pursuant thereto. At a special meeting of the stockholders of the Company held on May 28, 2021, a majority of the then-outstanding shares of the Company’s Class A common stock and Class B common stock, voting as a single class, voted to approve the Company’s Second Amended and Restated Certificate of Incorporation, which, among other things, increased the authorized shares of the Company’s common stock from 150,000,000 to 500,000,000 shares, eliminated its Class B common stock and renamed the Class A common stock as “common stock” (the “Charter Amendment”). A recent decision of the Court of Chancery has created uncertainty regarding the validity of the Charter Amendment and whether a separate vote of the majority of the then-outstanding shares of the Company’s Class A common stock would have been required under Section 242(b)(2) of the DGCL. While the Company believes that a separate vote of the Class A common stock was not required to approve the Charter Amendment, in light of the Court of Chancery’s recent decision, the Company filed a petition in the Court of Chancery pursuant to Section 205 of the DGCL, which permits the Court of Chancery, in its discretion, to validate potentially defective corporate acts and stock after considering a variety of factors. As previously disclosed, the Court of Chancery has issued an order scheduling a hearing on the merits of the petition on February 20, 2023. Cost Reduction Initiative On February 9, 2023, the Company announced a cost reduction initiative involving approximately 12%, or 126 employees, and curtailing the use of certain third-party vendors, consultants, and other contractors. The Company expects this initiative to improve its efficiency and further accelerate its path to sustainable profitability, as well as to better align its cost structure with the current macroeconomic environment and the Company’s strategic priorities.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements include the accounts of BARK, Inc. and its wholly-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s audited consolidated financial statements as of and for the years ended March 31, 2022 and 2021 contained in the Annual Report on Form 10-K filed with the SEC on May 31, 2022.
Principles of Consolidation	The consolidated balance sheet as of March 31, 2022, included herein, was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including certain notes required by U.S. GAAP, required on an annual reporting basis. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods. The results for the three months and nine months ended December 31, 2022 are not necessarily indicative of the results to be expected for any subsequent quarter, the year ending March 31, 2023, or any other period.
Use of Estimates	Use of Estimates— The Company makes estimates and assumptions about future events that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Future events and their effects cannot be determined with certainty. On an ongoing basis, management evaluates these estimates, judgments and assumptions. The Company bases its estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s condensed consolidated financial statements. The most significant estimates relate to determination of fair value of the Company’s allowance for uncollectible accounts receivable, allowance for inventory obsolescence, stock-based compensation, fair value of
Fair Value of Financial Instruments	Fair Value of Financial Instruments —The Company’s financial instruments, including cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued expenses, are carried at historical cost. At December 31, 2022 and March 31, 2022, the carrying amounts of these instruments approximated their fair values because of their short-term nature. The carrying amounts of the Company’s long-term debt approximate the fair value based on consideration of current borrowing rates available to the Company. Assets and liabilities recorded at fair value on a recurring basis in the condensed consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows: Level 1 —Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date; Level 2 —Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and Level 3 —Unobservable inputs that are supported by little or no market data for the related assets or liabilities.
Restricted Cash	Restricted Cash—The Company has restricted cash to secure a letter of credit for two of its leases, restricted cash is expected to be maintained as a security deposit for the duration of each respective lease.
Concentration of Credit Risk and Major Customers and Suppliers	Concentration of Credit Risk and Major Customers and Suppliers —Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains cash and cash equivalents with one domestic financial institution of high credit quality. The Company’s accounts receivable are derived from sales contracts with large retail customers. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes. This update amends and simplifies the accounting for income taxes by eliminating certain exceptions in existing guidance related to performing intraperiod tax allocation, calculating interim period taxes, and recognizing deferred taxes for investments. The update also provides new guidance to reduce complexity in certain areas. The Company adopted this guidance on April 1, 2022. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40), which simplifies the accounting for convertible instruments by removing major separation models required under current guidance. ASU 2020-06 also removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and simplifies the diluted earnings per share calculation in certain areas. ASU 2020-06 is effective for annual reporting periods beginning after December 15, 2021, including interim periods within those annual reporting periods, with early adoption permitted. The Company adopted this guidance on April 1, 2022. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following summarizes assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy (in thousands): As of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Money market funds (1) $ 55,077 $ — $ — $ 55,077 $ 55,077 $ — $ — $ 55,077 Liabilities Public warrant liability (2) $ 1,272 $ — $ — $ 1,272 Private warrant liability (2) — 684 — 684 $ 1,272 $ 684 $ — $ 1,956 As of March 31, 2022 Level 1 Level 2 Level 3 Total Liabilities Public warrant liability (2) $ 5,516 $ — $ — $ 5,516 Private warrant liability (2) — 2,963 — 2,963 $ 5,516 $ 2,963 $ — $ 8,479 ______________ (1) As of December 31, 2022, the Company had cash equivalents held in a money market account. The Company has concluded that due to the highly liquid nature of the money market account, the carrying value approximates fair value, which represents a Level 1 input. The balance of cash equivalents held in the money market account is included in cash and cash equivalents. (2) Included in accrued and other current liabilities.

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	9 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenue	Revenue disaggregated by significant revenue stream for the three and nine months ended December 31, 2022 and 2021 were as follows (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Revenue Direct to Consumer: Toys and treats subscription $ 114,673 $ 114,270 $ 342,076 $ 321,343 Other 5,402 3,854 13,942 8,973 Total Direct to Consumer $ 120,075 $ 118,124 $ 356,018 $ 330,316 Commerce 14,259 22,688 53,280 48,264 Revenue $ 134,334 $ 140,812 $ 409,298 $ 378,580

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt	As of December 31, 2022 and March 31, 2022, long-term debt consisted of the following (in thousands): As of December 31, As of March 31, 2022 2022 2025 Convertible Notes $ 83,525 $ 79,171 Less: deferred financing fees and debt discount (2,488) (2,981) Total long-term debt $ 81,037 $ 76,190

STOCK-BASED COMPENSTION PLANS (

STOCK-BASED COMPENSTION PLANS (Tables)	9 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Stock-Based Compensation Expense by Function	The following table summarizes the total stock-based compensation expense by function for the three and nine months ended December 31, 2022 and 2021, which includes expense related to options and RSUs (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 General and administrative $ 3,354 $ 2,200 $ 10,937 $ 4,599 Advertising and marketing 327 2,009 939 6,437 Total stock-based compensation expense $ 3,681 $ 4,209 $ 11,876 $ 11,036

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Operating And Finance Lease Assets and Liabilities	The following schedule represents the components of the Company’s operating lease assets (in thousands): As of As of Leases Classification December 31, 2022 March 31, 2022 Assets Operating Operating lease right-of-use assets $ 37,601 $ 29,552 Total operating lease assets $ 37,601 $ 29,552 Liabilities Operating lease liabilities (current) Operating lease liabilities, current $ 5,650 $ 5,060 Operating lease liabilities Operating lease liabilities $ 46,996 $ 28,847 Total operating lease liabilities $ 52,646 $ 33,907

OTHER INCOME (EXPENSE)_NET (Tab

OTHER INCOME (EXPENSE)—NET (Tables)	9 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense)	Other income (expense)—net consisted of the following: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Other income (expense) — net: Other income $ 181 $ 54 $ 1,187 $ 236 Change in fair value of warrants 1,564 14,470 6,523 33,978 Gain (loss) on extinguishment of debt — 574 — (2,024) Loss on warrant exercise — — (303) $ 1,745 $ 15,098 $ 7,710 $ 31,887

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	9 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Net Income (Loss) Per Share, Basic and Diluted	Basic and diluted net income (loss) per share attributable to common stockholders was calculated as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Numerator: Net income (loss) attributable to common stockholders—basic and diluted $ (21,270) $ (13,241) $ (47,317) $ (31,589) Denominator: Weighted average common shares outstanding—basic and diluted 177,672,036 172,554,101 176,546,378 150,313,932 Net income (loss) per share attributable to common stockholders Net income (loss) per share attributable to common stockholders - basic and diluted $ (0.12) $ (0.08) $ (0.27) $ (0.21)
Schedule of Antidilutive Securities Excluded from Computation of Net Loss Per Share	The Company excluded the following potential shares of common stock, presented based on amounts outstanding at December 31, 2022 and 2021 from the computation of diluted net loss per share attributable to common shareholders for the three and nine months ended December 31, 2022 and 2021 because including them would have had an anti-dilutive effect. As of December 31, 2022 2021 Stock options to purchase common stock 16,068,852 23,902,292 Restricted stock units 8,615,450 1,979,396 Warrants to purchase common stock 13,036,333 13,036,333 2025 Convertible Notes as converted to common stock 8,390,774 7,952,919

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Key financial performance measures of the segments including revenue, cost of revenue, and gross profit are as follows (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Direct to Consumer: Revenue $ 120,075 $ 118,124 $ 356,018 $ 330,316 Cost of revenue 45,878 47,876 138,961 131,195 Gross profit 74,197 70,248 217,057 199,121 Commerce: Revenue 14,259 22,688 53,280 48,264 Cost of revenue 8,266 14,527 33,991 29,298 Gross profit 5,993 8,161 19,289 18,966 Consolidated: Revenue 134,334 140,812 409,298 378,580 Cost of revenue 54,144 62,403 172,952 160,493 Gross profit $ 80,190 $ 78,409 $ 236,346 $ 218,087

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details)	Dec. 31, 2022 keyCategory
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of key categories	4

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 55,077
Total	1,956	$ 8,479
Public warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	1,272	5,516
Private warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	684	2,963
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	55,077
Total	1,272	5,516
Level 1 | Public warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	1,272	5,516
Level 1 | Private warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0
Total	684	2,963
Level 2 | Public warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	0
Level 2 | Private warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	684	2,963
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0
Total	0	0
Level 3 | Public warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	0
Level 3 | Private warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	$ 0
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	55,077
Money Market Funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	55,077
Money Market Funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0
Money Market Funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($) lease shares	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) lease shares	Dec. 31, 2021 USD ($)	Mar. 31, 2022 USD ($)
Concentration Risk [Line Items]
Warrants outstanding (in shares) | shares	0		0
Number of leases secured by letter of credit | lease	2		2
Restricted cash | $	$ 2,290	$ 2,280	$ 2,290	$ 2,280	$ 2,300
Accounts Receivable | Segment Concentration Risk | Commerce
Concentration Risk [Line Items]
Concentration risk, percentage	10.60%	16.10%	13%	12.70%
Finished Goods | Supplier Concentration Risk | Two Suppliers
Concentration Risk [Line Items]
Concentration risk, percentage	30%	26%	30%	29%
Accounts Payable | Supplier Concentration Risk | Two Suppliers
Concentration Risk [Line Items]
Concentration risk, percentage					26%
Accounts Payable | Supplier Concentration Risk | Three Suppliers
Concentration Risk [Line Items]
Concentration risk, percentage			49%
Two Customers | Accounts Receivable | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage			59%		59%

MERGER -Narrative (Details)

MERGER -Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 01, 2021	Dec. 31, 2022	Mar. 31, 2022	May 28, 2021	May 27, 2021	Nov. 27, 2020
Business Combination, Separately Recognized Transactions [Line Items]
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001	$ 0.0001
Reverse recapitalization, options converted (in shares)	29,257,576
Reverse recapitalization, warrants converted (in shares)	1,897,212
Exercise price of warrants (USD per share)	$ 11.50
Common stock, shares authorized (in shares)	500,000,000	500,000,000	500,000,000	500,000,000	150,000,000
Common Class B
Business Combination, Separately Recognized Transactions [Line Items]
Net equity infusion from the Merger (in shares)	6,358,750
P I P E Issuance
Business Combination, Separately Recognized Transactions [Line Items]
PIPE issuance (in shares)	20,000,000
Sale of stock (USD per share)	$ 10
PIPE issuance consideration	$ 200
2025 Convertible Notes | Convertible Debt
Business Combination, Separately Recognized Transactions [Line Items]
Debt interest rate						5.50%
Debt instrument, convertible, number of equity instruments (in shares)	7,713,121
Retrospective Application Of Recapitalization Correction
Business Combination, Separately Recognized Transactions [Line Items]
Recapitalization exchange ratio (in shares)	8.7425

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 134,334	$ 140,812	$ 409,298	$ 378,580
Direct to Consumer:
Disaggregation of Revenue [Line Items]
Revenue	120,075	118,124	356,018	330,316
Commerce
Disaggregation of Revenue [Line Items]
Revenue	14,259	22,688	53,280	48,264
Toys and treats subscription | Direct to Consumer:
Disaggregation of Revenue [Line Items]
Revenue	114,673	114,270	342,076	321,343
Other | Direct to Consumer:
Disaggregation of Revenue [Line Items]
Revenue	$ 5,402	$ 3,854	$ 13,942	$ 8,973

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Contractual liabilities included in deferred revenue	$ 32,916	$ 31,549

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Total long-term debt	$ 81,037	$ 76,190
2025 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Long-term debt, gross	83,525	79,171
Less: deferred financing fees and debt discount	$ (2,488)	$ (2,981)

DEBT - 2025 Convertible Notes N

DEBT - 2025 Convertible Notes Narrative (Details) - USD ($)				9 Months Ended
	Dec. 01, 2022	Dec. 01, 2021	Nov. 27, 2020	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
Debt Instrument [Line Items]
Payments of debt issuance costs				$ 0	$ 641,000
Payments of long-term debt				0	39,457,000
Paid in kind interest on convertible notes				4,354,000	$ 4,171,000
2025 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face amount			$ 75,000,000
Proceeds from convertible notes			74,700,000
Payments of debt issuance costs			$ 300,000
Debt interest rate			5.50%
Paid in kind interest on convertible notes	$ 4,400,000	$ 4,200,000
Debt instrument, debt default, interest rate increase			3%
Convertible debt				$ 83,500,000		$ 79,200,000
Amended Western Alliance Agreement and Pinnacle Agreement | Term Loan
Debt Instrument [Line Items]
Payments of long-term debt			$ 27,600,000
Pinnacle Term Loan | Term Loan
Debt Instrument [Line Items]
Debt early repayment fees			$ 2,000,000

DEBT - Western Alliance Bank -

DEBT - Western Alliance Bank - Line of Credit and Term Loan Narrative (Details) - USD ($)			9 Months Ended
	Aug. 03, 2022	Nov. 27, 2020	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022	Oct. 29, 2021	Dec. 07, 2018	Oct. 31, 2017
Debt Instrument [Line Items]
Payments of long-term debt			$ 0	$ 39,457,000
Total long-term debt			81,037,000		$ 76,190,000
Western Alliance Agreement | Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount							$ 10,000,000
Payments of long-term debt		$ 10,000,000
Extinguishment of debt, early repayment fee		$ 200,000
Western Alliance Agreement | Incremental Seasonal Loan
Debt Instrument [Line Items]
Debt instrument, face amount							$ 5,000,000
Revolving Credit Facility | Western Alliance Agreement | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 2,700,000		$ 35,000,000
Debt instrument, interest rate floor	0.50%
Borrowing base, percentage	80%
Borrowing base percentage, collateral audit	80%
Borrowing base percentage, no collateral audit	60%
Total long-term debt			0		$ 0
Line of credit facility, remaining borrowing capacity			$ 35,000,000
Revolving Credit Facility | Western Alliance Agreement | Line of Credit | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate	5.25%

STOCK-BASED COMPENSTION PLANS -

STOCK-BASED COMPENSTION PLANS - Equity Incentive Plans Narrative (Details) - shares		9 Months Ended
	Jun. 01, 2021	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reverse recapitalization, options converted (in shares)	29,257,576
Minimum exercise price, percentage of common share grant date fair value	100%
First Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	25%
One Thirty-Sixth on a Monthly Basis
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	75%
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Award vesting period		4 years
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	16,929,505
Number of shares available for grant (in shares)		12,039,811
Maximum annual increase in shares , percentage of shares issued and outstanding	5%
2011 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reverse recapitalization, options converted (in shares)	29,390,344
Number of shares available for grant (in shares)		0

STOCK-BASED COMPENSTION PLANS_2

STOCK-BASED COMPENSTION PLANS - Employee Stock Purchase Plan Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued employee stock purchase plan, value		$ 145	$ 145
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	3,385,901
Maximum annual increase in shares , percentage of shares issued and outstanding	1%
Number of shares authorized, maximum annual increase, number of shares (in shares)	1,500,000
Percentage of share value for employee purchase	85%
Stock issued employee stock purchase plan (in shares)		109,186	109,186
Stock issued employee stock purchase plan, value		$ 100	$ 100
Employee-related liabilities		$ 100	$ 100

STOCK-BASED COMPENSTION PLANS_3

STOCK-BASED COMPENSTION PLANS - Stock Option & RSU Activity Narrative (Details)	9 Months Ended
	Dec. 31, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	1,575,074
Weighted average exercise price (in USD per share) | $ / shares	$ 2.94
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	7,428,120
Award vesting period	4 years

STOCK-BASED COMPENSTION PLANS_4

STOCK-BASED COMPENSTION PLANS - Market-based Awards Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		9 Months Ended
	Apr. 15, 2022	Dec. 31, 2022
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Granted (in shares)		1,575,074
Market-based Awards
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Grant fair value of award	$ 0.7
Market-based Awards | Stock Price Exceeds $8.00 Per Share
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Vested, number of shares (in shares)	200,000
Weighted average exercise price (USD per share)	$ 8
Award vesting period	30 days
Market-based Awards | Stock Price Exceeds $12.00 Per Share
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Vested, number of shares (in shares)	200,000
Weighted average exercise price (USD per share)	$ 12
Award vesting period	30 days
Market-based Awards | Stock Price Exceeds $16.00 Per Share
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Vested, number of shares (in shares)	200,000
Weighted average exercise price (USD per share)	$ 16
Award vesting period	30 days
Chief Executive Officer | Market-based Awards
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Granted (in shares)	600,000

STOCK-BASED COMPENSTION PLANS_5

STOCK-BASED COMPENSTION PLANS - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 3,681	$ 4,209	$ 11,876	$ 11,036
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	3,354	2,200	10,937	4,599
Advertising and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 327	$ 2,009	$ 939	$ 6,437

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Apr. 01, 2022	Mar. 31, 2022	Oct. 29, 2021
Lessee, Lease, Description [Line Items]
Future minimum lease payments							$ 39,800
Operating lease term							16 years 6 months
Operating lease right-of-use asset	$ 37,601		$ 37,601			$ 29,552
Operating lease liability	52,646		52,646			$ 33,907
Operating lease, impairment loss	1,500		1,700
Exchange for operating lease liability			17,000
Operating lease expense	$ 2,200	$ 1,500	6,700	$ 3,700
Change in operating leases			$ 2,300
Equipment
Lessee, Lease, Description [Line Items]
Operating lease term	5 years		5 years
Finance lease term	5 years		5 years
Company Headquarters
Lessee, Lease, Description [Line Items]
Operating lease right-of-use asset					$ 17,000
Other current assets					7,600
Operating lease liability					$ 24,600

LEASES - Schedule of Operating

LEASES - Schedule of Operating And Finance Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Leases [Abstract]
Operating lease right-of-use asset	$ 37,601	$ 29,552
Total operating lease assets	37,601	29,552
Operating lease liabilities (current)	5,650	5,060
Operating lease liabilities (non-current)	46,996	28,847
Total operating lease liabilities	$ 52,646	$ 33,907

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal, state, or foreign income tax provision (benefit)	$ 0	$ 0	$ 0	$ 0

OTHER INCOME (EXPENSE)_NET - Sc

OTHER INCOME (EXPENSE)—NET - Schedule of Other Expens- Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Other income (expense)—net:
Other income	$ 181	$ 54	$ 1,187	$ 236
Change in fair value of warrants	1,564	14,470	6,523	33,978
Gain (loss) on extinguishment of debt	0	574	0	(2,024)
Loss on warrant exercise	0		0	(303)
Other income (expense)-net	$ 1,745	$ 15,098	$ 7,710	$ 31,887

NET LOSS PER SHARE - Calculatio

NET LOSS PER SHARE - Calculation of Basic and Diluted Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income (loss) attributable to common stockholders - basic	$ (21,270)	$ (13,241)	$ (47,317)	$ (31,589)
Net income (loss) attributable to common stockholders - diluted	$ (21,270)	$ (13,241)	$ (47,317)	$ (31,589)
Denominator:
Weighted average common shares outstanding—basic (in shares)	177,672,036	172,554,101	176,546,378	150,313,932
Weighted-average common shares outstanding - diluted (in shares)	177,672,036	172,554,101	176,546,378	150,313,932
Net income (loss) per share attributable to common stockholders
Net income (loss) per share attributable to common stockholders - basic (in USD per share)	$ (0.12)	$ (0.08)	$ (0.27)	$ (0.21)
Net income (loss) per share attributable to common stockholders- diluted (in USD per share)	$ (0.12)	$ (0.08)	$ (0.27)	$ (0.21)

NET LOSS PER SHARE - Schedule o

NET LOSS PER SHARE - Schedule of Antidilutive Securities Excluded from Computation of Net Loss per Share (Details) - shares	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Stock options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share (in shares)	16,068,852	23,902,292
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share (in shares)	8,615,450	1,979,396
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share (in shares)	13,036,333	13,036,333
2025 Convertible Notes as converted to common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share (in shares)	8,390,774	7,952,919

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details)	9 Months Ended
	Dec. 31, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENTS - Schedule of Gross Pr

SEGMENTS - Schedule of Gross Profit by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	$ 134,334	$ 140,812	$ 409,298	$ 378,580
Cost of revenue	54,144	62,403	172,952	160,493
Gross profit	80,190	78,409	236,346	218,087
Direct to Consumer:
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	120,075	118,124	356,018	330,316
Cost of revenue	45,878	47,876	138,961	131,195
Gross profit	74,197	70,248	217,057	199,121
Commerce:
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	14,259	22,688	53,280	48,264
Cost of revenue	8,266	14,527	33,991	29,298
Gross profit	$ 5,993	$ 8,161	$ 19,289	$ 18,966

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Millions		3 Months Ended
	Feb. 09, 2023 employee	Mar. 31, 2023 USD ($)	Dec. 31, 2022 shares	Mar. 31, 2022 shares	Jun. 01, 2021 shares	May 28, 2021 shares	May 27, 2021 shares
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares			500,000,000	500,000,000	500,000,000	500,000,000	150,000,000
Scenario, Plan | Subsequent Event
Subsequent Event [Line Items]
Cost reduction initiative, percent of employees to be eliminated (approximately)	12%
Cost reduction initiative, number of employees to be eliminated (approximately) | employee	126
Forecast
Subsequent Event [Line Items]
Expected severance payments | $		$ 2