BARK, Inc. (NYSE:BARK) Q1 2023 Earnings Conference Call August 9, 2022 4:30 PM ET

Company Participants

Mike Mougias – Vice President of Investor Relations

Matt Meeker – Co-Founder and Chief Executive Officer

Howard Yeaton – Interim Chief Financial Officer

Conference Call Participants

Maria Ripps – Canaccord

Corey Grady – Jefferies

Operator

Good afternoon. My name is Audra, and I will be your conference operator today. At this time, I would like to welcome everyone to the BARK’s First Quarter Fiscal 2023 Earnings Conference Call. Today’s conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

At this time, I’d like to turn the conference over to Mike Mougias, Vice President of Investor Relations.

Mike Mougias

Good afternoon, everyone, and welcome to BARK’s first quarter fiscal year 2023 earnings call. Joining me today are Matt Meeker, Co-Founder and CEO; and Howard Yeaton, Interim CFO.

Today’s conference call is being webcast and 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 on our Investor Relations website.

Before we begin, 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 also contained in this afternoon’s press release.

With that, let me now turn the call over to Matt.

Matt Meeker

Thanks, Mike, and good afternoon, everyone. On our last call, we laid out our strategy for fiscal 2023. Our overarching goal was and continues to be to drive towards profitability by transforming our customer base to focus on higher value customers. That is customers who spend more with us and make purchases across multiple product categories.

One measurement for success here is simple. Our new customers contributing more revenue and margin. That’s a key driver to accelerating our path to profitability and long-term to faster revenue growth. And while we are still at early in the fiscal year, I’m pleased to report that we have made significant progress executing this strategy in our first quarter. And I’m excited to share those results with you today.