Bark, Inc.BARK

Bark, Inc. Leases Disclosure

10-KFiled Jun 4, 20252 min read
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.
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 2028.
The Company’s finance leases as of March 31, 2025 and March 31, 2024 were not material and were included in property and equipment, net, on the Company’s consolidated balance sheets.
The following schedule represents the components of the Company’s operating lease assets as of March 31, 2025 and 2024 (in thousands):
March 31,
LeasesConsolidated Balance Sheets Location20252024
Assets
OperatingOperating lease right-of-use assets$28,277 $32,793 
Total operating lease assets
$28,277 $32,793 
Liabilities
Operating lease liabilities (current)Operating lease liabilities, current$5,798 $5,294 
Operating lease liabilities (non-current)Operating lease liabilities$36,802 $42,599 
Total operating lease liabilities
$42,600 $47,893 
The following schedule represents the components of operating lease expense for the fiscal years ended March 31, 2025 and 2024 (in thousands):
Fiscal Year Ended
Consolidated Statements of Operations and
Comprehensive Loss Location		March 31, 2025March 31, 2024
Operating lease costsGeneral and administrative$7,096 $7,606 
Short-term lease costs
General and administrative
63 56 
Sublease incomeOther income(611)(801)
Total lease costs$6,548 $6,861 
As of March 31, 2025, the Company’s maturity of operating lease liabilities in the years through March 31, 2030, and thereafter are as follows (in thousands):
Operating Leases
2026$8,625 
20277,446 
20286,474 
20296,723 
20303,645 
Thereafter28,273 
Total lease payments61,186 
Less: imputed interest(18,586)
Present value of lease liabilities$42,600 
Other operating leases information:
March 31, 2025March 31, 2024
Cash paid for amounts included in the measurement of lease liabilities$8,476 $8,336 
Right-of-use assets obtained in exchange for new lease liabilities$— $— 
Weighted-average remaining term (years)9.710.2
Weighted average discount rate7.1 %7.1 %

Historical Timeline

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

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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