Mar. 14 at 11:30 AM
$BARK 🏷️❌ now cash flow positive, with more than 10 million to receive from the canceled tariffs and high inventories, while the convertible notes are fully paid (PIK interests was ~
$2.235 million for Q4 FY2025, now gone).
These are the substantial differences from a few months ago, but BARK still trades at a EV/Sales at 0.33, with estimated 2026 revenues of
$410 million.
The two offers, and mostly the
$0.90 as an option, prevent the stock from moving higher now (despite a few months earlier spiked it).
In comparison with WOOF's EV/Sales at 0.61, the 0.33 of BARK sould be at least 0.50. That brings the share price at
$1.21.
PRTlQ was the last pet stock sold at EV/Sales of 1.25, but it was profitable.
Therefore the 0.50 for BARK looks quite reasonable and still a bargain for the acquirers, but also a decent number for EV/Sales, without considering the offers.
