Bark, Inc.BARK

Bark, Inc. Earnings Per Share Disclosure

10-KFiled Jun 4, 20252 min read
NET LOSS PER SHARE
Basic and diluted net loss per share attributable to common stockholders was calculated as follows:
Fiscal Year Ended March 31
202520242023
Numerator:
Net loss$(32,878)$(37,010)$(61,519)
Net loss attributable to common stockholders—basic and diluted $(32,878)$(37,010)$(61,519)
Denominator:
Weighted average common shares outstanding—basic and diluted174,399,565 177,260,581 176,717,509 
Net loss per share attributable to common stockholders - basic and diluted$(0.19)$(0.21)$(0.35)
For the fiscal years ended March 31, 2025, 2024 and 2023, 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 each of the fiscal years ended March 31, 2025, 2024 and 2023.
The Company excluded the following potential shares of common stock, presented based on amounts outstanding at March 31, 2025, 2024 and 2023 from the computation of diluted net loss per share attributable to common shareholders for the fiscal years ended March 31, 2025, 2024 and 2023 because including them would have had an anti-dilutive effect.
As of
March 31,
202520242023
Redeemable convertible preferred stock as converted to common stock— — 
Stock options to purchase common stock9,962,741 12,113,90516,019,476 
Restricted stock units16,975,005 12,277,989 8,188,054 
Warrants to purchase common stock13,036,333 13,036,33313,036,333 
2025 Convertible Notes as converted to common stock
4,366,5674,138,926 8,505,620 
Employee stock purchase plan
152,297 296,335 278,111 
The Company also had convertible notes outstanding for the fiscal year ended March 31, 2025, which could have obligated the Company and/or its stockholders to issue shares of common stock upon the occurrence of various future events at prices and in amounts that are not determinable until the occurrence of those future events. Since the necessary conditions for the conversion of these instruments had not been satisfied during the fiscal year ended March 31, 2025, the Company excluded these instruments from the table above and the calculation of diluted net loss per share for the period. See Note 6, “Debt,” for additional details.

Historical Timeline

Fiscal YearFiled
2025Jun 4, 2025Showing above
2024Jun 3, 2024
2023Jun 1, 2023
2022May 31, 2022

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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