BARK, Inc. (NYSE:BARK) Q4 2023 Earnings Conference Call June 1, 2023 4:30 PM ET
Company Participants
Matt Meeker - Co-Founder, Chief Executive Officer
Zahir Ibrahim - Chief Financial Officer
Mike Mougias - Vice President of Investor Relations
Conference Call Participants
Maria Ripps - Canaccord
Ryan Meyers - Lake Street Capital Markets
Ygal Arounian - Citigroup
Corey Grady - Jefferies
Operator
Good afternoon, and thank you for attending today's BARK's Fiscal Fourth Quarter and Full Year 2023 Earnings Call. My name is Jason, and I'll be the moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end. [Operator Instructions].
I would now like to pass the conference over to our host, Mike Mougias, Vice President of Investor Relations.
Mike Mougias
Good afternoon, everyone, and welcome to BARK's fiscal fourth quarter and full year 2023 earnings call. Joining me today are Matt Meeker, Co-Founder and CEO; and Zahir Ibrahim, Chief Financial Officer.
Today's conference call is being webcast in its entirety on our website and a replay of the webcast will be made available shortly after the call. Additionally, a press release covering the company's financial results was issued this afternoon and can be found in our Investor Relations website.
Before I pass it over to Matt, I would like to remind you of the following information regarding forward-looking statements. The statements made on today's call are based on management's current expectations and are subject to risks and uncertainties that could cause actual future results and outcomes to differ. Please refer to our SEC filings for more information on some of the factors that could affect our future results and outcomes.
Also during today's call we will discuss certain non-GAAP financial measures. Reconciliation to our non-GAAP financial measures is contained in this afternoon's press release.
And with that, let me now pass it over to Matt.
Matt Meeker
Thanks, Mike and good afternoon everyone. Last year when I returned to running the business, we were facing some notable challenges, the biggest of which was that we were burning cash at a high rate. Along with a high burn rate, our cost of goods and fulfillment costs were rising rapidly, our inventory balances growing out of control and the faster we grew, the faster we burned cash.
My first priority was to reduce this cash spend and return it to the more profitable profile we’ve achieved in fiscal 2021. Today, I'm thrilled to report that we've made substantial progress in fiscal 2023, and we are entering fiscal 2024 as a stronger and more dynamic company.