Bark Inc(NYSE:BARK)

Northern Star Acquisition Corp. is a special purpose acquisition company whose management team and Board of Directors are composed of veteran consumer, media, technology, retail and finance industry executives and founders, including Joanna Coles, Chairwoman and Chief Executive Officer, and Jonathan...
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At a glance:
Bull Thesis:
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Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 86,566,000 | 98,447,000 | 106,970,000 | 102,861,000 | 115,410,000 | 126,449,000 | 126,111,000 | 116,212,000 | 121,484,000 | 125,075,000 | 123,036,000 | 120,591,000 | 126,017,000 | 134,334,000 | 143,814,000 | 131,150,000 | 128,826,000 | 140,812,000 | 120,162,000 | 117,606,000 |
yoy | -24.99% | -22.14% | -15.18% | -11.49% | -5.00% | 1.10% | 2.50% | -3.63% | -3.60% | -6.89% | -14.45% | -8.05% | -2.18% | -4.60% | 19.68% | 11.52% | ||||
qoq | -12.07% | -7.97% | 3.99% | -10.87% | -8.73% | 0.27% | 8.52% | -4.34% | -2.87% | 1.66% | 2.03% | -4.31% | -6.19% | -6.59% | 9.66% | 1.80% | -8.51% | 17.19% | 2.17% | |
cost of revenue | 32,279,000 | 36,885,000 | 45,010,000 | 38,784,000 | 42,060,000 | 47,189,000 | 49,999,000 | 42,946,000 | 45,253,000 | 47,831,000 | 47,394,000 | 47,555,000 | 54,248,000 | 54,144,000 | 63,473,000 | 55,336,000 | 64,807,000 | 62,403,000 | 50,276,000 | 47,815,000 |
gross profit | 54,287,000 | 61,562,000 | 61,960,000 | 64,077,000 | 73,350,000 | 79,260,000 | 76,112,000 | 73,266,000 | 76,231,000 | 77,244,000 | 75,642,000 | 73,036,000 | 71,769,000 | 80,190,000 | 80,341,000 | 75,814,000 | 64,019,000 | 78,409,000 | 69,886,000 | 69,791,000 |
yoy | -25.99% | -22.33% | -18.59% | -12.54% | -3.78% | 2.61% | 0.62% | 0.31% | 6.22% | -3.67% | -5.85% | -3.66% | 12.11% | 2.27% | 14.96% | 8.63% | ||||
qoq | -11.82% | -0.64% | -3.30% | -12.64% | -7.46% | 4.14% | 3.88% | -3.89% | -1.31% | 2.12% | 3.57% | 1.77% | -10.50% | -0.19% | 5.97% | 18.42% | -18.35% | 12.20% | 0.14% | |
gross margin % | 62.71% | 62.53% | 57.92% | 62.29% | 63.56% | 62.68% | 60.35% | 63.05% | 62.75% | 61.76% | 61.48% | 60.57% | 56.95% | 59.69% | 55.86% | 57.81% | 49.69% | 55.68% | 58.16% | 59.34% |
operating expenses: | ||||||||||||||||||||
general and administrative | 53,901,000 | 54,479,000 | 57,221,000 | 57,252,000 | 62,671,000 | 64,141,000 | 63,143,000 | 63,426,000 | 63,923,000 | 66,119,000 | 68,931,000 | 69,421,000 | 69,202,000 | 80,192,000 | 74,156,000 | 79,589,000 | 85,501,000 | 78,636,000 | 68,235,000 | 69,471,000 |
advertising and marketing | 12,570,000 | 16,067,000 | 15,398,000 | 15,178,000 | 17,296,000 | 27,364,000 | 18,665,000 | 20,432,000 | 18,759,000 | 25,094,000 | 17,810,000 | 17,619,000 | 15,366,000 | 21,747,000 | 15,331,000 | 16,363,000 | 13,364,000 | 26,828,000 | 17,075,000 | 17,178,000 |
total operating expenses | 66,471,000 | 70,546,000 | 72,619,000 | 72,430,000 | 79,967,000 | 91,505,000 | 81,808,000 | 83,858,000 | 82,682,000 | 91,213,000 | 86,741,000 | 87,040,000 | 84,568,000 | 101,939,000 | 89,487,000 | 95,952,000 | 98,865,000 | 105,464,000 | 85,310,000 | 86,649,000 |
income from operations | -12,184,000 | -8,984,000 | -10,659,000 | -8,353,000 | -6,617,000 | -12,245,000 | -5,696,000 | -10,592,000 | -6,451,000 | -13,969,000 | -11,099,000 | -14,004,000 | -12,799,000 | -21,749,000 | -9,146,000 | -20,138,000 | -34,846,000 | -27,055,000 | -15,424,000 | -16,858,000 |
yoy | 84.13% | -26.63% | 87.13% | -21.14% | 2.57% | -12.34% | -48.68% | -24.36% | -49.60% | -35.77% | 21.35% | -30.46% | -63.27% | -19.61% | -40.70% | 19.46% | ||||
qoq | 35.62% | -15.71% | 27.61% | 26.24% | -45.96% | 114.98% | -46.22% | 64.19% | -53.82% | 25.86% | -20.74% | 9.41% | -41.15% | 137.80% | -54.58% | -42.21% | 28.80% | 75.41% | -8.51% | |
operating margin % | -14.07% | -9.13% | -9.96% | -8.12% | -5.73% | -9.68% | -4.52% | -9.11% | -5.31% | -11.17% | -9.02% | -11.61% | -10.16% | -16.19% | -6.36% | -15.35% | -27.05% | -19.21% | -12.84% | -14.33% |
interest income | 101,000 | 292,000 | 678,000 | 809,000 | 915,000 | 1,179,000 | 1,353,000 | 1,479,000 | 1,682,000 | 1,718,000 | 1,996,000 | |||||||||
interest expense | -20,000 | -415,000 | -711,000 | -709,000 | -714,000 | -677,000 | -687,000 | -711,000 | -703,000 | -902,000 | -1,366,000 | -1,340,000 | -1,389,000 | -1,323,000 | -1,284,000 | -1,296,000 | -1,561,000 | |||
other income—net | -558,000 | 461,000 | 20,000 | 1,223,000 | 349,000 | 234,000 | -233,000 | -215,000 | 570,000 | 3,045,000 | 132,000 | 1,583,000 | -1,026,000 | 1,745,000 | -153,000 | 6,119,000 | -541,000 | 15,098,000 | 23,175,000 | -6,385,000 |
net loss before income taxes | -12,661,000 | -8,646,000 | -10,672,000 | -7,030,000 | -6,067,000 | -11,509,000 | -5,263,000 | -10,039,000 | -4,902,000 | -10,108,000 | -10,337,000 | -11,663,000 | -14,202,000 | -21,270,000 | -15,408,000 | -36,710,000 | -13,241,000 | |||
provision for income taxes | ||||||||||||||||||||
net loss and comprehensive loss | -12,661,000 | -8,646,000 | -10,672,000 | -7,030,000 | -6,067,000 | -11,509,000 | -5,263,000 | -10,039,000 | -4,902,000 | -10,108,000 | -10,337,000 | -11,663,000 | -14,202,000 | -21,270,000 | -15,408,000 | -36,710,000 | -13,241,000 | |||
net loss per common share attributable to common stockholders—basic and diluted | -4,420 | -50 | -60 | -40 | -40 | -70 | -30 | -60 | -30 | -60 | -60 | -70 | -80 | -120 | -90 | -230 | -80 | |||
weighted-average common shares used to compute net loss per share attributable to common stockholders—basic and diluted | 8,542,502 | 172,446,917 | 170,762,090 | 169,208,938 | 174,399,565 | 175,589,759 | 175,063,942 | 175,561,535 | 177,260,581 | 175,540,096 | 176,975,883 | 177,681,579 | 176,717,509 | 177,672,036 | 175,491,912 | 156,201,601 | 172,554,101 | |||
interest income—net | 758,000 | -998,750 | -1,266,000 | |||||||||||||||||
net income before income taxes | -10,639,000 | 6,455,000 | -24,804,000 | |||||||||||||||||
net income and comprehensive income | -10,639,000 | 6,455,000 | -24,804,000 | |||||||||||||||||
net income per common share attributable to common stockholders—basic | -60 | 40 | -230 | |||||||||||||||||
weighted-average common shares used to compute net income per share attributable to common stockholders—basic | 176,463,723 | 169,173,509 | 108,762,540 | |||||||||||||||||
net income per common share attributable to common stockholders—diluted | -0.06 | 0.04 | -0.23 | |||||||||||||||||
weighted-average common shares used to compute net income per share attributable to common stockholders—diluted | 176,463,723 | 177,011,446 | 108,762,540 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||
current assets: | ||||||||||||||||||||
cash and cash equivalents | 19,282,000 | 21,683,000 | 63,427,000 | 84,665,000 | 94,022,000 | 115,259,000 | 115,243,000 | 117,795,000 | 125,495,000 | 131,284,000 | 160,541,000 | 163,923,000 | 177,911,000 | 164,181,000 | 166,310,000 | 177,242,000 | 199,397,000 | 228,692,000 | 272,599,000 | 321,000,000 |
accounts receivable—net | 12,318,000 | 12,126,000 | 16,920,000 | 7,419,000 | 9,453,000 | 11,415,000 | 16,901,000 | 7,058,000 | 7,696,000 | 6,458,000 | 12,390,000 | 5,128,000 | 6,554,000 | 4,584,000 | 17,346,000 | 8,127,000 | 9,752,000 | 20,251,000 | 10,921,000 | 8,127,000 |
prepaid expenses and other current assets | 14,599,000 | 12,708,000 | 12,576,000 | 11,479,000 | 10,036,000 | 12,371,000 | 11,070,000 | 6,935,000 | 4,379,000 | 4,430,000 | 4,296,000 | 5,153,000 | 3,552,000 | 7,503,000 | 12,314,000 | 13,528,000 | 5,878,000 | 5,035,000 | 6,470,000 | 5,359,000 |
inventory | 75,545,000 | 91,361,000 | 101,017,000 | 98,124,000 | 88,126,000 | 90,360,000 | 88,435,000 | 80,428,000 | 84,177,000 | 98,471,000 | 109,391,000 | 112,465,000 | 124,336,000 | 145,269,000 | 160,634,000 | 158,016,000 | 153,115,000 | 150,690,000 | 130,317,000 | 102,305,000 |
total current assets | 121,744,000 | 137,878,000 | 193,940,000 | 201,687,000 | 201,637,000 | 229,405,000 | 231,649,000 | 212,216,000 | 221,747,000 | 240,643,000 | 286,618,000 | 286,669,000 | 312,353,000 | 321,537,000 | 356,604,000 | 356,913,000 | 368,142,000 | 404,668,000 | 420,307,000 | 436,791,000 |
property and equipment—net | 17,183,000 | 18,874,000 | 20,617,000 | 22,017,000 | 21,475,000 | 22,070,000 | 23,425,000 | 23,538,000 | 25,540,000 | 27,214,000 | 28,719,000 | 38,366,000 | 39,851,000 | 40,084,000 | 36,485,000 | 29,414,000 | 28,128,000 | 26,253,000 | 21,482,000 | 18,999,000 |
intangible assets—net | 1,569,000 | 1,768,000 | 2,345,000 | 4,822,000 | 5,426,000 | 7,428,000 | 8,010,000 | 10,732,000 | 11,921,000 | 11,786,000 | 11,606,000 | 5,582,000 | 4,090,000 | 3,884,000 | 3,489,000 | 3,698,000 | 3,837,000 | 3,480,000 | 3,105,000 | 2,445,000 |
operating lease right-of-use assets | 24,799,000 | 25,133,000 | 26,202,000 | 27,250,000 | 28,277,000 | 29,283,000 | 30,268,000 | 31,836,000 | 32,793,000 | 33,772,000 | 34,772,000 | 35,820,000 | 36,892,000 | 37,601,000 | 43,854,000 | 45,157,000 | 29,552,000 | |||
other noncurrent assets | 4,695,000 | 5,017,000 | 4,876,000 | 4,175,000 | 3,820,000 | 4,006,000 | 8,220,000 | 9,413,000 | 6,587,000 | 7,215,000 | 7,271,000 | 7,416,000 | 7,234,000 | 4,256,000 | 4,422,000 | 4,414,000 | 4,402,000 | 4,400,000 | 4,398,000 | 4,421,000 |
total assets | 169,990,000 | 188,670,000 | 247,980,000 | 259,951,000 | 260,635,000 | 292,192,000 | 301,572,000 | 287,735,000 | 298,588,000 | 320,630,000 | 368,986,000 | 373,853,000 | 400,420,000 | 407,362,000 | 444,854,000 | 439,596,000 | 434,061,000 | 438,801,000 | 449,292,000 | 462,656,000 |
liabilities and stockholders’ equity | ||||||||||||||||||||
current liabilities: | ||||||||||||||||||||
accounts payable | 17,130,000 | 22,444,000 | 32,901,000 | 21,502,000 | 20,364,000 | 27,086,000 | 33,701,000 | 10,825,000 | 13,737,000 | 25,586,000 | 26,089,000 | 19,548,000 | 34,370,000 | 27,269,000 | 45,275,000 | 34,332,000 | 36,834,000 | 21,383,000 | 23,675,000 | 33,194,000 |
operating lease liabilities, current | 5,211,000 | 5,380,000 | 5,739,000 | 5,930,000 | 5,798,000 | 5,668,000 | 5,541,000 | 5,416,000 | 5,294,000 | 4,425,000 | 4,831,000 | 5,136,000 | 5,484,000 | 5,650,000 | 5,250,000 | 5,182,000 | 5,060,000 | |||
accrued and other current liabilities | 20,834,000 | 24,373,000 | 25,813,000 | 39,475,000 | 34,054,000 | 41,795,000 | 33,209,000 | 33,976,000 | 30,490,000 | 31,951,000 | 30,702,000 | 29,564,000 | 31,975,000 | 30,888,000 | 31,918,000 | 26,272,000 | 35,168,000 | 52,649,000 | 61,988,000 | 77,560,000 |
deferred revenue | 22,223,000 | 22,162,000 | 20,042,000 | 20,896,000 | 21,251,000 | 23,524,000 | 23,436,000 | 26,500,000 | 25,957,000 | 29,018,000 | 24,340,000 | 26,345,000 | 27,772,000 | 32,916,000 | 28,882,000 | 34,481,000 | 31,549,000 | 36,210,000 | 28,398,000 | 30,654,000 |
current portion of long-term debt | 42,804,000 | 42,688,000 | 42,573,000 | 42,461,000 | ||||||||||||||||
total current liabilities | 65,398,000 | 74,359,000 | 127,299,000 | 130,491,000 | 124,040,000 | 140,534,000 | 95,887,000 | 76,717,000 | 75,478,000 | 90,980,000 | 85,962,000 | 80,593,000 | 99,601,000 | 96,723,000 | 111,325,000 | 100,267,000 | 108,611,000 | 110,242,000 | 114,061,000 | 141,408,000 |
long-term debt | 40,128,000 | 40,027,000 | 39,926,000 | 39,826,000 | 81,594,000 | 81,406,000 | 81,221,000 | 81,037,000 | 76,517,000 | 76,347,000 | 76,190,000 | 76,032,000 | 71,735,000 | 71,583,000 | ||||||
operating lease liabilities | 32,466,000 | 32,926,000 | 34,026,000 | 35,267,000 | 36,802,000 | 38,306,000 | 39,765,000 | 41,196,000 | 42,599,000 | 44,778,000 | 46,094,000 | 46,672,000 | 47,240,000 | 46,996,000 | 51,724,000 | 52,558,000 | 28,847,000 | |||
other long-term liabilities | 108,000 | 140,000 | 183,000 | 224,000 | 267,000 | 314,000 | 2,236,000 | 1,735,000 | 1,202,000 | 700,000 | 4,389,000 | 3,244,000 | 1,821,000 | 528,000 | 5,181,000 | 4,269,000 | 3,352,000 | 5,829,000 | 9,617,000 | 7,818,000 |
total liabilities | 97,972,000 | 107,425,000 | 161,508,000 | 165,982,000 | 161,109,000 | 179,154,000 | 178,016,000 | 159,675,000 | 159,205,000 | 176,284,000 | 218,039,000 | 211,915,000 | 229,883,000 | 225,284,000 | 244,747,000 | 233,441,000 | 217,000,000 | 192,103,000 | 195,413,000 | 220,809,000 |
commitments and contingencies | ||||||||||||||||||||
stockholders’ equity : | ||||||||||||||||||||
common stock, par value 0.0001... | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 |
treasury stock | -26,500,000 | -26,500,000 | -26,500,000 | -26,500,000 | -24,730,000 | -14,248,000 | -11,409,000 | -10,511,000 | -6,225,000 | -4,120,000 | -4,120,000 | |||||||||
additional paid-in capital | 517,372,000 | 513,964,000 | 510,454,000 | 507,315,000 | 504,022,000 | 500,953,000 | 497,139,000 | 495,408,000 | 492,427,000 | 490,421,000 | 486,845,000 | 483,432,000 | 480,370,000 | 477,665,000 | 474,404,000 | 469,810,000 | 465,313,000 | 458,239,000 | 452,180,000 | 446,602,000 |
accumulated deficit | -418,855,000 | -406,220,000 | -397,483,000 | -386,847,000 | -379,767,000 | -373,668,000 | -362,175,000 | -356,838,000 | -346,820,000 | -341,956,000 | -331,779,000 | -321,495,000 | -309,834,000 | -295,588,000 | -274,298,000 | -263,656,000 | -248,253,000 | -211,542,000 | -198,302,000 | -204,756,000 |
total stockholders’ equity | 72,018,000 | 81,245,000 | 86,472,000 | 93,969,000 | 99,526,000 | 113,038,000 | 123,556,000 | 128,060,000 | 139,383,000 | 144,346,000 | 150,947,000 | 161,938,000 | 170,537,000 | 182,078,000 | 200,107,000 | 206,155,000 | 217,061,000 | 246,698,000 | 253,879,000 | 241,847,000 |
total liabilities, and stockholders’ equity | 169,990,000 | 188,670,000 | 247,980,000 | 259,951,000 | 260,635,000 | 292,192,000 | 301,572,000 | 287,735,000 | 298,588,000 | 320,630,000 | 368,986,000 | 373,853,000 | 400,420,000 | 407,362,000 | 444,854,000 | 439,596,000 | ||||
liabilities, and stockholders’ equity | ||||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ equity | ||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||
redeemable convertible preferred stock | ||||||||||||||||||||
convertible preferred stock (series seed, a, b, c, and c-1) 0.0001 par value with aggregate liquidation preference of 0 and 62,800; 0 and 8,010,560 shares authorized; 0 and 7,752,515 shares issued and outstanding at march 31, 2022 and 2021, respectively. | ||||||||||||||||||||
total redeemable convertible preferred stock | ||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ equity | 434,061,000 | 438,801,000 | 449,292,000 | |||||||||||||||||
convertible preferred stock (series seed, a, b, c, and c-1) 0.0001 par value with aggregate liquidation preference of 0 and 62,800 at december 31, 2021 and march 31, 2021 respectively; 0 and 8,010,560 shares authorized; 0 and 7,752,515 shares issued and outstanding at december 31, 2021 and march 31, 2021, respectively. | ||||||||||||||||||||
convertible preferred stock (series seed, a, b, c, and c-1) 0.0001 par value with aggregate liquidation preference of 0 and 62,800 at september 30, 2021 and march 31, 2021 respectively; 0 and 8,010,560 shares authorized; 0 and 7,752,515 shares issued and outstanding at september 30, 2021 and march 31, 2021, respectively. | ||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ deficit | ||||||||||||||||||||
convertible preferred stock (series seed, a, b, c, and c-1) 0.0001 par value with aggregate liquidation preference of 0 and 62,800 at june 30, 2021 and march 31, 2021 respectively; 0 and 8,010,560 shares authorized; 0 and 7,752,515 shares issued and outstanding at june 30, 2021 and march 31, 2021 respectively. | ||||||||||||||||||||
stockholders’ deficit: | ||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ deficit | 462,656,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||
net loss | -12,661,000 | -8,645,000 | -10,672,000 | -7,030,000 | -6,067,000 | -11,509,000 | -5,263,000 | -10,039,000 | -4,902,000 | -10,108,000 | -10,337,000 | -11,663,000 | -14,202,000 | -21,270,000 | -10,639,000 | -15,408,000 | -36,710,000 | -24,804,000 | ||
adjustments to reconcile net loss to cash from operating activities: | ||||||||||||||||||||
depreciation & amortization | 1,904,000 | 2,094,000 | 2,584,000 | 2,520,000 | 2,839,000 | 2,704,000 | 2,800,000 | 2,879,000 | 3,703,000 | 2,958,000 | 3,073,000 | 2,868,000 | 2,919,000 | 2,491,000 | 755,000 | 3,262,000 | 1,479,000 | 1,123,000 | 957,000 | 844,000 |
impairment of assets | 0 | 296,000 | 1,457,000 | 0 | 1,343,000 | 799,000 | 0 | 109,000 | 404,000 | |||||||||||
amortization of deferred financing fees and debt discount | -3,000 | 79,000 | 117,000 | 114,000 | 113,000 | 97,000 | 101,000 | 101,000 | 100,000 | 104,000 | 189,000 | 185,000 | 182,000 | 168,000 | 165,000 | 161,000 | 158,000 | 148,000 | 177,000 | 346,000 |
bad debt expense | 0 | 0 | 120,000 | 0 | -625,000 | 249,000 | 312,000 | 242,000 | ||||||||||||
stock-based compensation expense | 3,470,000 | 3,571,000 | 3,716,000 | 3,594,000 | 2,964,000 | 3,873,000 | 2,957,000 | 2,941,000 | 2,421,000 | 3,596,000 | 3,689,000 | 3,225,000 | 2,935,000 | 3,681,000 | 3,852,000 | 4,343,000 | 6,825,000 | 4,209,000 | 3,729,000 | 3,098,000 |
loss on disposal of assets | 0 | 0 | ||||||||||||||||||
provision for inventory obsolescence | 764,000 | -165,000 | 586,000 | 285,000 | 515,000 | -283,000 | 126,000 | 1,229,000 | ||||||||||||
gain on extinguishment of debt | ||||||||||||||||||||
change in fair value of warrant liabilities and derivatives | 0 | -261,000 | 130,000 | -782,000 | -131,000 | -261,000 | 522,000 | 391,000 | -522,000 | -782,000 | -130,000 | -1,304,000 | 1,173,000 | -1,564,000 | 1,038,000 | -5,997,000 | 5,665,000 | -14,470,000 | -28,290,000 | 3,899,000 |
paid in kind interest on convertible notes | 0 | 0 | 0 | 0 | ||||||||||||||||
non-cash lease expense | 1,127,000 | 1,067,000 | 1,050,000 | 1,027,000 | 1,006,000 | 986,000 | 1,567,000 | 957,000 | ||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||
accounts receivable | -192,000 | 4,792,000 | -9,573,000 | 2,033,000 | 1,963,000 | 5,486,000 | -9,842,000 | 637,000 | -1,359,000 | 5,932,000 | -7,296,000 | 1,427,000 | -1,346,000 | 12,513,000 | -9,531,000 | 1,383,000 | 10,191,000 | -9,330,000 | -2,794,000 | 818,000 |
inventory | 15,052,000 | 9,820,000 | -3,479,000 | -10,283,000 | 1,720,000 | -1,642,000 | -8,134,000 | 2,521,000 | 15,731,000 | 10,910,000 | 2,796,000 | 11,269,000 | 23,216,000 | 17,948,000 | -2,395,000 | -5,220,000 | -9,648,000 | -20,373,000 | -28,012,000 | -24,851,000 |
prepaid expenses and other current assets | -1,475,000 | 82,000 | 233,000 | -417,000 | 1,119,000 | -1,606,000 | 500,000 | -999,000 | 49,000 | -135,000 | 614,000 | -1,602,000 | 2,776,000 | 262,000 | -415,000 | -69,000 | -630,000 | 1,760,000 | -856,000 | -1,329,000 |
other assets | -288,000 | 171,000 | -5,000 | -11,000 | 0 | 0 | 23,000 | -337,000 | ||||||||||||
accounts payable and accrued expenses | -9,092,000 | -8,616,000 | -1,518,000 | 5,837,000 | -15,005,000 | 3,791,000 | 20,509,000 | 2,396,000 | -12,885,000 | 1,532,000 | 8,398,000 | -14,824,000 | 5,796,000 | -19,707,000 | 16,865,000 | -2,497,000 | -1,213,000 | 2,979,000 | -1,586,000 | -13,683,000 |
deferred revenue | 65,000 | 2,121,000 | -853,000 | -356,000 | -2,274,000 | 88,000 | -3,063,000 | 542,000 | -3,061,000 | 4,678,000 | -2,004,000 | -1,427,000 | -5,145,000 | 4,034,000 | -5,599,000 | 2,932,000 | -4,661,000 | 7,812,000 | -2,257,000 | 3,478,000 |
operating lease liabilities | -1,424,000 | -1,458,000 | -1,432,000 | -1,403,000 | -1,375,000 | -1,332,000 | -1,306,000 | -1,281,000 | -1,308,000 | -1,722,000 | -883,000 | -917,000 | -974,000 | -797,000 | -764,000 | -746,000 | ||||
other liabilities | 262,000 | -2,930,000 | 645,000 | -223,000 | 689,000 | -3,617,000 | 1,636,000 | -1,625,000 | 623,000 | -3,475,000 | 314,000 | 474,000 | 2,319,000 | -2,374,000 | 354,000 | -119,000 | -3,880,000 | -2,733,000 | 6,003,000 | -11,948,000 |
net cash from operating activities | -1,351,000 | 1,707,000 | -18,074,000 | -5,440,000 | -10,258,000 | -1,387,000 | 2,774,000 | 1,792,000 | -1,046,000 | 15,022,000 | 2,825,000 | -10,741,000 | 19,180,000 | 5,077,000 | -2,138,000 | -17,425,000 | -25,801,000 | -38,518,000 | -46,148,000 | -61,871,000 |
cash flows from investing activities: | ||||||||||||||||||||
capital expenditures | -713,000 | -143,000 | -1,852,000 | -708,000 | -1,729,000 | -577,000 | -1,808,000 | -2,043,000 | -2,132,000 | -1,766,000 | -1,961,000 | -2,972,000 | -2,466,000 | -4,746,000 | -9,373,000 | -4,735,000 | -3,567,000 | -6,602,000 | 0 | 0 |
free cash flows | -2,064,000 | 1,564,000 | -19,926,000 | -6,148,000 | -11,987,000 | -1,964,000 | 966,000 | -251,000 | -3,178,000 | 13,256,000 | 864,000 | -13,713,000 | 16,714,000 | 331,000 | -11,511,000 | -22,160,000 | -29,368,000 | -45,120,000 | -46,148,000 | -61,871,000 |
net cash from investing activities | -713,000 | -143,000 | -1,852,000 | -708,000 | -1,729,000 | -577,000 | -1,808,000 | -2,043,000 | -2,132,000 | -1,766,000 | -1,961,000 | -2,972,000 | -2,291,000 | -4,746,000 | -9,373,000 | -4,735,000 | -3,567,000 | -6,602,000 | -2,698,000 | -8,305,000 |
cash flows from financing activities: | ||||||||||||||||||||
payment of restricted stock units held for taxes | ||||||||||||||||||||
payment of finance lease obligations | 115,000 | -58,000 | -57,000 | -59,000 | -60,000 | -53,000 | -58,000 | -54,000 | -54,000 | -55,000 | -48,000 | -58,000 | -19,000 | -2,016,000 | -157,000 | -153,000 | ||||
proceeds from the exercise of stock options | 8,000 | 45,000 | 1,000 | 20,000 | 804,000 | 261,000 | 148,000 | 145,000 | 3,000 | 11,000 | 13,000 | 81,000 | 38,000 | 84,000 | 742,000 | 154,000 | 471,000 | 1,698,000 | 934,000 | 197,000 |
proceeds from issuance of common stock under espp | 0 | 162,000 | 0 | 197,000 | 0 | 232,000 | 0 | 193,000 | 0 | 203,000 | 0 | 286,000 | 0 | |||||||
payments to repurchase common stock | 0 | 0 | 0 | -1,770,000 | -10,482,000 | -2,839,000 | -898,000 | -4,286,000 | -2,105,000 | 0 | ||||||||||
excise tax from stock repurchases | 0 | 0 | 41,000 | -21,000 | -13,000 | 9,000 | -9,000 | -43,000 | -21,000 | |||||||||||
payments of long-term debt | 0 | 0 | 0 | 0 | 0 | -39,457,000 | ||||||||||||||
net cash from financing activities | 53,000 | -42,999,000 | -634,000 | -2,130,000 | -10,437,000 | -2,951,000 | -2,182,000 | -4,300,000 | -2,575,000 | -42,375,000 | -4,444,000 | -221,000 | -249,000 | -2,436,000 | 585,000 | 1,000 | 76,000 | 1,214,000 | 445,000 | 353,723,000 |
effect of exchange rate changes on cash | 25,000 | -92,000 | 36,000 | -50,000 | -32,000 | 16,000 | -74,000 | 21,000 | 38,000 | -69,000 | 53,000 | 2,000 | -44,000 | -20,000 | -3,000 | 5,000 | 0 | -1,000 | 2,000 | |
net decrease in cash, cash equivalents and restricted cash | -1,986,000 | -41,527,000 | -20,524,000 | -8,328,000 | -22,455,000 | -4,899,000 | -1,290,000 | -4,530,000 | -29,188,000 | -3,527,000 | -13,932,000 | |||||||||
cash, cash equivalents and restricted cash—beginning of period | 0 | 0 | 0 | 97,531,000 | 1,000 | 0 | 0 | 130,704,000 | -1,000 | 0 | 0 | 183,068,000 | 0 | 0 | 0 | 201,679,000 | 0 | 0 | 0 | 39,731,000 |
cash, cash equivalents and restricted cash—end of period | -1,986,000 | -41,527,000 | -20,524,000 | 89,203,000 | -22,454,000 | -4,899,000 | -1,290,000 | 126,174,000 | -5,716,000 | -29,188,000 | -3,527,000 | 169,136,000 | 16,596,000 | -2,125,000 | -10,929,000 | 179,525,000 | -29,293,000 | -43,905,000 | -48,401,000 | 323,278,000 |
other noncurrent assets | -140,000 | -451,000 | -356,000 | -397,000 | -1,679,000 | 343,000 | 0 | -125,000 | ||||||||||||
tax payments related to the issuance of common stock | -268,000 | -619,000 | -497,000 | -561,000 | -1,365,000 | -255,000 | -192,000 | -289,000 | -530,000 | |||||||||||
reconciliation of cash, cash equivalents and restricted cash: | ||||||||||||||||||||
cash and cash equivalents | -41,744,000 | -21,238,000 | 84,665,000 | 16,000 | -2,552,000 | 117,795,000 | -5,789,000 | -29,257,000 | -3,382,000 | 163,923,000 | 13,730,000 | -2,129,000 | -43,907,000 | -48,401,000 | 321,000,000 | |||||
restricted cash - prepaid expenses and other current assets, other noncurrent assets | 217,000 | 714,000 | 4,538,000 | -4,915,000 | ||||||||||||||||
total cash, cash equivalents and restricted cash | -41,527,000 | -20,524,000 | 89,203,000 | -4,899,000 | -1,290,000 | 126,174,000 | -5,716,000 | -29,188,000 | -3,527,000 | 169,136,000 | 16,596,000 | -2,125,000 | 323,278,000 | |||||||
supplemental disclosures of cash flow information: | ||||||||||||||||||||
purchases of property and equipment included in accounts payable and accrued liabilities | -73,000 | -1,508,000 | 1,749,000 | -34,000 | 27,000 | -86,000 | 97,000 | -211,000 | -1,969,000 | |||||||||||
cash paid for interest | 2,341,000 | 5,000 | 5,000 | 50,000 | 148,000 | 2,162,000 | 30,000 | 45,000 | 8,000 | 121,000 | ||||||||||
loss on extinguishment of debt | 0 | -574,000 | 0 | 2,598,000 | ||||||||||||||||
proceeds from tenant improvement allowances | 1,174,000 | 4,549,000 | ||||||||||||||||||
proceeds from sale of investments | ||||||||||||||||||||
restricted cash - other noncurrent assets | 8,379,000 | 69,000 | -145,000 | 5,213,000 | 4,000 | |||||||||||||||
increase in inventory reserves | 319,000 | |||||||||||||||||||
loss on exercise of equity classified warrants | -202,000 | 0 | ||||||||||||||||||
payments of finance fees | -1,000 | -19,000 | -128,000 | -494,000 | ||||||||||||||||
payments of transaction costs | -11,000 | -324,000 | -242,000 | -24,667,000 | ||||||||||||||||
payment of deferred underwriting fees | 0 | 0 | 0 | -8,902,000 | ||||||||||||||||
proceeds from equity infusion from the merger, net of redemptions | 0 | 0 | 0 | 227,092,000 | ||||||||||||||||
proceeds from pipe issuance | 0 | 0 | 0 | 200,000,000 | ||||||||||||||||
proceeds from the exercise of warrants | 0 | 0 | 17,000 | 104,000 | ||||||||||||||||
net increase in cash, cash equivalents and restricted cash | 16,596,000 | -2,125,000 | -10,929,000 | -22,154,000 | -29,292,000 | -43,906,000 | -48,401,000 | 283,547,000 | ||||||||||||
restricted cash—prepaid expenses and other current assets | 0 | 2,278,000 | ||||||||||||||||||
non-cash investing and financing activities: | ||||||||||||||||||||
establishment of operating lease | 1,052,000 | 0 | ||||||||||||||||||
lease modification and termination | 0 | |||||||||||||||||||
conversion of preferred stock to common stock | ||||||||||||||||||||
issuance of common stock related to convertible notes | ||||||||||||||||||||
capital contribution related to extinguishment of debt | ||||||||||||||||||||
issuance of common stock related to cashless exercise of liability classified warrants | ||||||||||||||||||||
amortization of right-of-use assets | 1,000,000 | 1,047,000 | 1,073,000 | 1,269,000 | ||||||||||||||||
provision for inventory obsolescence reserve | 9,000 | 279,000 | 600,000 | |||||||||||||||||
amortization of right-of use-assets | ||||||||||||||||||||
proceeds from convertible notes | ||||||||||||||||||||
proceeds from debt | ||||||||||||||||||||
non-cash capital lease obligations | ||||||||||||||||||||
issuance of derivatives with debt | ||||||||||||||||||||
non-cash deferred issuance costs | ||||||||||||||||||||
modification of warrant | ||||||||||||||||||||
issuance of convertible promissory notes | ||||||||||||||||||||
non-cash deferred transaction costs | ||||||||||||||||||||
provision for inventory reserves | -2,581,000 | |||||||||||||||||||
gain on sale of assets | ||||||||||||||||||||
cash paid for sales tax | ||||||||||||||||||||
increase inventory reserves | ||||||||||||||||||||
payment of capital lease obligations | -141,000 | -136,000 | -150,000 | |||||||||||||||||
net income | ||||||||||||||||||||
adjustments to reconcile net income to cash from operating activities: | ||||||||||||||||||||
capitalized expenditures | -8,305,000 | |||||||||||||||||||
class a common stock subject to possible redemption | ||||||||||||||||||||
numerator: earnings allocable to class a common stock subject to possible redemption | ||||||||||||||||||||
interest earned on marketable securities held in trust account | ||||||||||||||||||||
less: interest available to be withdrawn for payment of taxes | ||||||||||||||||||||
net income attributable | ||||||||||||||||||||
denominator: weighted-average class a common stock subject to possible redemption | ||||||||||||||||||||
basic and diluted weighted-average shares outstanding, class a common stock subject to possible redemption | ||||||||||||||||||||
basic and diluted net income per share, class a common stock subject to possible redemption | ||||||||||||||||||||
non-redeemable common stock | ||||||||||||||||||||
numerator: net income minus net earnings | ||||||||||||||||||||
add: net income allocable to class a common stock subject to possible redemption |
