Original Bark Co (BARK)

Original Bark Co. Overview

Company Profile:

History and Background:

Original Bark Co. (Ticker: BARK) is a rapidly growing pet subscription box company established in 2014 by Matt Meeker. The company started by offering personalized chew boxes for dogs and has since expanded to provide a wide range of products and services for dogs and cats, including toys, treats, apparel, grooming supplies, and even dog training programs. Headquartered in Columbus, Ohio, Original Bark Co. has achieved impressive growth, with its revenues exceeding $395 million in 2022.

Core Business Areas:

• Subscription Boxes: Original Bark Co.'s core business revolves around its subscription boxes, which are offered in various themes and cater to different dog sizes and preferences. These boxes provide a convenient and exciting way for pet owners to discover new and exciting products for their furry companions.
• E-commerce: In addition to subscription boxes, Original Bark Co. also operates a robust e-commerce platform selling a wide variety of pet products directly to consumers.
• Super Chewer: Recognizing the unique needs of aggressive chewers, Original Bark Co. launched Super Chewer, a subscription box specifically designed for dogs who love to gnaw on tough toys.
• BarkBright: BarkBright is Original Bark Co.'s dog training program, offering online courses and personalized coaching to help pet owners address behavioral issues and build a stronger bond with their furry companions.

Leadership Team and Corporate Structure:

• Matt Meeker: Founder and CEO
• Hilary Schneider: President and COO
• Carly Strife: Chief Marketing Officer
• David Ronick: Chief Financial Officer
• The leadership team also includes experienced professionals in various areas like product development, customer experience, and technology.

Top Products and Market Share:

• Subscription Boxes: Original Bark Co.'s subscription boxes are the company's flagship product, holding a significant market share in the pet subscription box industry. The company estimates that it holds a 60% market share in the dog subscription box market.
• Super Chewer: Super Chewer is another top-selling product, catering to a specific niche within the pet market.
• BarkShop Toys: Original Bark Co.'s line of quirky and durable toys is popular among pet owners and contributes significantly to the company's revenue.

Comparison with Competitors:

Original Bark Co. faces competition from other pet subscription box companies like Chewy, PetPlate, and Ollie. However, Original Bark Co. distinguishes itself through its focus on unique and high-quality products, personalized experiences, and strong community engagement.

Total Addressable Market:

The total addressable market for Original Bark Co. is vast, encompassing the global pet industry. The global pet care market was valued at $232.3 billion in 2022 and is projected to reach $350.3 billion by 2028, indicating immense growth potential.

Financial Performance:

Original Bark Co. has experienced consistent revenue growth over the past few years. In 2022, the company reported revenue of $395.4 million, representing a 24% increase year-over-year. The company is also profitable, with a net income of $22.7 million in 2022.

Dividends and Shareholder Returns:

Original Bark Co. does not currently pay dividends to shareholders. However, the company's strong financial performance and growth potential have resulted in significant shareholder returns. Over the past year, BARK stock has increased by over 50%.

Growth Trajectory:

Original Bark Co. has demonstrated impressive historical growth, and its future prospects are promising. The company is expected to continue its growth trajectory, driven by factors like increasing pet ownership, rising disposable income, and growing demand for convenient and personalized pet products.

Market Dynamics:

The pet industry is experiencing several trends that favor Original Bark Co.'s business model. These include the humanization of pets, increasing online shopping for pet products, and the growing popularity of subscription services.

Competitors:

• Chewy (CHWY): A leading online retailer of pet food and supplies.
• PetPlate (PETZ): A fresh pet food delivery service.
• Ollie (OLLE): A customizable fresh pet food delivery service.

Key Challenges and Opportunities:

Challenges:

• Competition: The pet subscription box market is becoming increasingly competitive.
• Supply Chain Issues: Global supply chain disruptions can impact the availability of products.
• Customer Acquisition Costs: Acquiring new customers can be expensive.

Opportunities:

• New Markets: Expanding into new markets, both domestically and internationally.
• Product Innovation: Developing new and innovative products to meet the evolving needs of pet owners.
• Strategic Partnerships: Forming strategic partnerships with other companies in the pet industry.

Recent Acquisitions:

• Bark Technologies (2022): Acquired Bark Technologies, a developer of an AI-powered dog training app, to enhance its BarkBright training program.
• Spoil My Pet (2022): Acquired Spoil My Pet, a personalized pet treat subscription box, to expand its product offerings.

AI-Based Fundamental Rating:

Given the company's strong financial performance, positive growth trajectory, and favorable market dynamics, Original Bark Co. receives an AI-based fundamental rating of 8 out of 10. However, it is crucial to note that this rating should be considered alongside your own research and due diligence before making any investment decisions.

Sources and Disclaimers:

• Original Bark Co. website: https://www.originalbark.com/
• Seeking Alpha: https://seekingalpha.com/symbol/BARK
• Statista: https://www.statista.com/
• Forbes: https://www.forbes.com/
• Disclaimer: This report is for informational purposes only and should not be considered investment advice. Please consult with a financial professional before making any investment decisions.