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BARK (BARK)

Cover

Cover - shares6 Months Ended
Sep. 30, 2021Nov. 05, 2021
Document Information [Line Items]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateSep. 30,
2021
Document Transition Reportfalse
Entity File Number001-39691
Entity Registrant NameTHE ORIGINAL BARK COMPANY
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number83-4109918
Entity Address, Address Line One221 Canal Street
Entity Address, City or TownNew York
Entity Address, State or ProvinceNY
Entity Address, Postal Zip Code10013
City Area Code855
Local Phone Number501-2275
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companytrue
Entity Ex Transition Periodfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding (in shares)171,912,342
Entity Central Index Key0001819574
Document Fiscal Period FocusQ2
Document Fiscal Year Focus2022
Current Fiscal Year End Date--03-31
Amendment Flagfalse
Common Stock, par value $0.0001
Document Information [Line Items]
Title of 12(b) SecurityCommon Stock, par value $0.0001
Trading SymbolBARK
Security Exchange NameNYSE
Warrants, each warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
Document Information [Line Items]
Title of 12(b) SecurityWarrants, each warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
Trading SymbolBARK WS
Security Exchange NameNYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in ThousandsSep. 30, 2021Mar. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents $ 272,599 $ 38,278
Accounts receivable—net10,921 8,927
Prepaid expenses and other current assets6,470 7,409
Inventory130,317 77,454
Total current assets420,307 132,068
PROPERTY AND EQUIPMENT—NET21,482 13,465
INTANGIBLE ASSETS—NET3,105 2,070
OTHER NONCURRENT ASSETS4,398 3,260
TOTAL ASSETS449,292 150,863
CURRENT LIABILITIES:
Accounts payable23,675 50,501
Accrued and other current liabilities61,988 44,605
Deferred revenue28,398 27,177
Total current liabilities114,061 122,283
LONG-TERM DEBT71,735 115,729
OTHER LONG-TERM LIABILITIES9,617 11,834
Total liabilities195,413 249,846
COMMITMENTS AND CONTINGENCIES
REDEEMABLE CONVERTIBLE PREFERRED STOCK:
Redeemable convertible preferred stock0 59,987
STOCKHOLDERS’ EQUITY (DEFICIT):
Common stock, par value $0.0001 per share—500,000,000 shares authorized; 171,069,553 shares issued and outstanding as of September 30, 2021 and 148,622,942 shares authorized; 48,071,777 shares issued and outstanding as of March 31, 2021. $ 1 $ 0
Treasury Stock, Shares
Treasury stock, at cost; after recapitalization there are treasury shares issued or outstanding as of September 30, 2021 or March 31, 2021 $ 0 $ 0
Additional paid-in capital452,180 20,984
Accumulated deficit(198,302)(179,954)
Total stockholders’ equity (deficit)253,879 (158,970)
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)449,292 150,863
Convertible Redeemable Preferred Stock
REDEEMABLE CONVERTIBLE PREFERRED STOCK:
Redeemable convertible preferred stock $ 0 $ 59,987

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)Sep. 30, 2021Mar. 31, 2021
Statement of Financial Position [Abstract]
Convertible preferred stock, par value (USD per share) $ 0.0001 $ 0.0001
Convertible preferred stock, liquidation preference $ 0 $ 62,800,000
Convertible preferred stock, shares authorized (in shares)0 8,010,560
Convertible preferred stock, shares outstanding (in shares)0 7,752,515
Common stock, par value (USD per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares)500,000,000
Common stock, shares issued (in shares)171,069,553
Common stock, shares outstanding (in shares)171,069,553

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)3 Months Ended6 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Income Statement [Abstract]
REVENUE $ 120,162,000 $ 86,413,000 $ 237,768,000 $ 161,221,000
COST OF REVENUE50,276,000 34,859,000 98,091,000 62,747,000
Gross profit69,886,000 51,554,000 139,677,000 98,474,000
OPERATING EXPENSES:
General and administrative68,235,000 39,279,000 137,734,000 71,315,000
Advertising and marketing17,075,000 12,958,000 34,225,000 24,533,000
Total operating expenses85,310,000 52,237,000 171,959,000 95,848,000
LOSS FROM OPERATIONS(15,424,000)(683,000)(32,282,000)2,626,000
INTEREST EXPENSE(1,296,000)(1,906,000)(2,857,000)(3,420,000)
OTHER INCOME—NET23,175,000 1,211,000 16,790,000 1,432,000
NET INCOME (LOSS) BEFORE INCOME TAXES6,455,000 (1,378,000)(18,349,000)638,000
PROVISION FOR INCOME TAXES0 0 0 0
NET INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)6,455,000 (1,378,000)(18,349,000)638,000
NET INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) $ 6,455,000 $ (1,378,000) $ (18,349,000) $ 638,000
Net income (loss) per common share attributable to common stockholders - basic (USD per share) $ 0.04 $ (0.03) $ (0.13) $ 0
Weighted-average common shares used to computed net income (loss) per share attributable to common stockholders - basic (in shares)169,173,509 45,889,103 139,133,082 45,704,365
Net income (loss) per common share attributable to common stockholders - diluted (USD per share) $ 0.04 $ (0.03) $ (0.13) $ 0
Weighted-average common shares used to compute net income (loss) per share attributable to common stockholders - diluted (in shares)177,011,446 45,889,103 139,133,082 45,704,365

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in ThousandsTotalPreviously ReportedRevision of Prior Period, Reclassification, AdjustmentCommon StockCommon StockPreviously ReportedCommon StockRevision of Prior Period, Reclassification, AdjustmentTreasury StockTreasury StockPreviously ReportedTreasury StockRevision of Prior Period, Reclassification, AdjustmentAdditional Paid-in CapitalAdditional Paid-in CapitalPreviously ReportedAdditional Paid-in CapitalRevision of Prior Period, Reclassification, AdjustmentAccumulated DeficitAccumulated DeficitPreviously Reported
Convertible Redeemable Preferred stock, beginning balance (in shares) at Mar. 31, 20207,752,515 7,752,515
Convertible Redeemable Preferred Stock, beginning balance at Mar. 31, 2020 $ 59,987 $ 59,987
Convertible Redeemable Preferred Stock, ending balance (in shares) at Jun. 30, 20207,752,515 7,752,515
Convertible Redeemable Preferred Stock, ending balance at Jun. 30, 2020 $ 59,987 $ 59,987
Shares outstanding, beginning balance (in shares) at Mar. 31, 202045,431,784 5,196,711 40,235,073 0 (259,953)259,953
Beginning balance at Mar. 31, 2020(135,387)(135,387) $ 0 $ 0 $ 0 $ 0 $ (4,755) $ 4,755 $ 13,176 $ 17,931 $ (4,755) $ (148,563) $ (148,563)
Shares outstanding, ending balance (in shares) at Jun. 30, 202045,706,061 5,228,074 40,477,987 0 (259,953)259,953
Ending balance at Jun. 30, 2020 $ (132,761) $ (132,761)0 $ 0 $ 0 $ 0 $ (4,755) $ 4,755 13,786 18,541 (4,755)(146,547)(146,547)
Convertible Redeemable Preferred stock, beginning balance (in shares) at Mar. 31, 20207,752,515 7,752,515
Convertible Redeemable Preferred Stock, beginning balance at Mar. 31, 2020 $ 59,987 $ 59,987
Convertible Redeemable Preferred Stock, ending balance (in shares) at Sep. 30, 20207,752,515
Convertible Redeemable Preferred Stock, ending balance at Sep. 30, 2020 $ 59,987
Shares outstanding, beginning balance (in shares) at Mar. 31, 202045,431,784 5,196,711 40,235,073 0 (259,953)259,953
Beginning balance at Mar. 31, 2020(135,387) $ (135,387)0 $ 0 $ 0 $ 0 $ (4,755) $ 4,755 13,176 17,931 (4,755)(148,563)(148,563)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)638 638
Issuance for stock options exercised (in shares)412,085
Issuance for stock options exercised361 361
Restricted shares vesting (in shares)218,632
Restricted shares vesting403 403
Stock-based compensation989 989
Modification of a warrant80 80
Repurchase of common stock (in shares)(3,629)
Repurchase of common stock(9)(9)
Shares outstanding, ending balance (in shares) at Sep. 30, 202046,058,872 0
Ending balance at Sep. 30, 2020 $ (132,925) $ 0 $ 0 15,000 (147,925)
Convertible Redeemable Preferred stock, beginning balance (in shares) at Jun. 30, 20207,752,515 7,752,515
Convertible Redeemable Preferred Stock, beginning balance at Jun. 30, 2020 $ 59,987 $ 59,987
Convertible Redeemable Preferred Stock, ending balance (in shares) at Sep. 30, 20207,752,515
Convertible Redeemable Preferred Stock, ending balance at Sep. 30, 2020 $ 59,987
Shares outstanding, beginning balance (in shares) at Jun. 30, 202045,706,061 5,228,074 40,477,987 0 (259,953)259,953
Beginning balance at Jun. 30, 2020(132,761) $ (132,761)0 $ 0 $ 0 $ 0 $ (4,755) $ 4,755 13,786 18,541 (4,755)(146,547)(146,547)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)(1,378)(1,378)
Issuance for stock options exercised (in shares)137,808
Issuance for stock options exercised139 139
Restricted shares vesting (in shares)218,632
Restricted shares vesting403 403
Stock-based compensation601 601
Modification of a warrant80 80
Repurchase of common stock (in shares)(3,629)
Repurchase of common stock(9)(9)
Shares outstanding, ending balance (in shares) at Sep. 30, 202046,058,872 0
Ending balance at Sep. 30, 2020 $ (132,925) $ 0 $ 0 15,000 (147,925)
Convertible Redeemable Preferred stock, beginning balance (in shares) at Mar. 31, 20217,752,515 7,752,515
Convertible Redeemable Preferred Stock, beginning balance at Mar. 31, 2021 $ 59,987 $ 59,987
Convertible Redeemable Preferred Stock, ending balance (in shares) at Jun. 30, 20210
Convertible Redeemable Preferred Stock, ending balance at Jun. 30, 2021 $ 0
Shares outstanding, beginning balance (in shares) at Mar. 31, 202148,071,777 5,498,588 42,573,189 0 (259,953)259,953
Beginning balance at Mar. 31, 2021(158,970) $ (158,970)0 $ 0 $ 0 $ 0 $ (4,764) $ 4,764 20,984 25,748 (4,764)(179,954)(179,954)
Shares outstanding, ending balance (in shares) at Jun. 30, 2021166,704,484 0
Ending balance at Jun. 30, 2021 $ 241,847 $ 1 $ 0 446,602 (204,756)
Convertible Redeemable Preferred stock, beginning balance (in shares) at Mar. 31, 20217,752,515 7,752,515
Convertible Redeemable Preferred Stock, beginning balance at Mar. 31, 2021 $ 59,987 $ 59,987
Increase (Decrease) in Temporary Equity [Roll Forward]
Conversion of Preferred Shares (in shares)(7,752,515)
Conversion of Preferred Stock $ (59,987)
Net equity infusion from the Merger (in shares)0
Net equity infusion from the Merger $ 0
Convertible Redeemable Preferred Stock, ending balance (in shares) at Sep. 30, 20210
Convertible Redeemable Preferred Stock, ending balance at Sep. 30, 2021 $ 0
Shares outstanding, beginning balance (in shares) at Mar. 31, 202148,071,777 5,498,588 42,573,189 0 (259,953)259,953
Beginning balance at Mar. 31, 2021(158,970) $ (158,970) $ 0 $ 0 $ 0 $ 0 $ (4,764) $ 4,764 20,984 $ 25,748 $ (4,764)(179,954) $ (179,954)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)(18,349)(18,349)
Issuance for stock options exercised (in shares)3,082,133
Issuance for stock options exercised1,131 1,131
Issuance for warrants exercised (in shares)1,931,621
Issuance for warrants exercised1,019 1,019
Restricted shares vesting (in shares)6,852
Conversion of Preferred Shares (in shares)7,752,515
Conversion of Preferred Stock59,987 59,987
Conversion of Convertible Notes (in shares)1,135,713
Conversion of Convertible Notes11,976 11,976
PIPE Issuance (in shares)20,000,000
PIPE Issuance200,000 200,000
Net equity infusion from the Merger (in shares)89,088,942
Net equity infusion from the Merger150,257 $ 1 150,256
Stock-based compensation6,827 6,827
Cumulative translation adjustment1 1
Modification of a warrant0
Shares outstanding, ending balance (in shares) at Sep. 30, 2021171,069,553 0
Ending balance at Sep. 30, 2021 $ 253,879 $ 1 $ 0 452,180 (198,302)
Convertible Redeemable Preferred stock, beginning balance (in shares) at Jun. 30, 20210
Convertible Redeemable Preferred Stock, beginning balance at Jun. 30, 2021 $ 0
Convertible Redeemable Preferred Stock, ending balance (in shares) at Sep. 30, 20210
Convertible Redeemable Preferred Stock, ending balance at Sep. 30, 2021 $ 0
Shares outstanding, beginning balance (in shares) at Jun. 30, 2021166,704,484 0
Beginning balance at Jun. 30, 2021241,847 $ 1 $ 0 446,602 (204,756)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)6,455 6,455
Issuance for stock options exercised (in shares)2,657,749
Issuance for stock options exercised934 934
Issuance for warrants exercised (in shares)1,700,468
Issuance for warrants exercised915 915
Restricted shares vesting (in shares)6,852
Stock-based compensation3,729 3,729
Cumulative translation adjustment(1)(1)
Shares outstanding, ending balance (in shares) at Sep. 30, 2021171,069,553 0
Ending balance at Sep. 30, 2021 $ 253,879 $ 1 $ 0 $ 452,180 $ (198,302)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands6 Months Ended
Sep. 30, 2021Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) $ (18,349) $ 638
Adjustments to reconcile net income (loss) to cash (used in) provided by operating activities:
Depreciation & amortization1,801 1,036
Amortization of deferred financing fees and debt discount523 987
Bad debt expense0 9
Stock-based compensation expense6,827 1,392
Loss on extinguishment of debt2,598 0
Loss on exercise of equity classified warrants303 0
Change in fair value of warrant liabilities and derivatives(24,391)(1,263)
Accounts receivable(1,976)(1,315)
Inventory(52,863)(22,953)
Prepaid expenses and other current assets(2,185)(1,130)
Other assets(314)0
Accounts payable and accrued expenses(15,269)17,445
Deferred revenue1,221 5,471
Other liabilities(5,945)8,164
Net cash (used in) provided by operating activities(108,019)8,481
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures(11,003)(2,838)
Net cash used in investing activities(11,003)(2,838)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of finance fees(622)(256)
Payments of transaction costs(24,909)0
Payment of deferred underwriting fees(8,902)0
Payment of capital lease obligations(286)0
Proceeds from equity infusion from the Merger, net of redemptions227,092 0
Proceeds from PIPE issuance200,000 0
Proceeds from the exercise of stock options1,131 361
Proceeds from the exercise of warrants121 0
Proceeds from convertible notes0 1,000
Proceeds from debt0 5,157
Payments to repurchase common stock0 (9)
Payments of long-term debt(39,457)0
Net cash provided by financing activities354,168 6,253
Effect of exchange rate changes on cash1 0
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH235,146 11,896
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—BEGINNING OF PERIOD39,731 9,676
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD274,877 21,572
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Cash and cash equivalents272,599 21,219
Restricted cash—Prepaid expenses and other current assets2,278 353
Total cash, cash equivalents and restricted cash274,877 21,572
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Purchases of property and equipment included in accounts payable and accrued liabilities150 198
Cash paid for interest677 1,742
Cash paid for sales tax20,551 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Conversion of preferred stock to common stock59,987 0
Capital contribution related to extinguishment of debt688 0
Issuance of common stock related to cashless exercise of liability classified warrants595 0
Issuance of derivatives with debt0 1,153
Modification of warrant0 80
2025 Convertible Notes
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common stock related to convertible notes12,793 0
Convertible promissory notes
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common stock related to convertible notes $ 0 $ 800

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS6 Months Ended
Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESSORGANIZATION AND DESCRIPTION OF BUSINESS The Original BARK Company (the “Company”), a Delaware corporation formerly known as Northern Star Acquisition Corp. ("Northern Star") , is an omnichannel brand serving dogs across the four key categories of Play, Food, Health and Home. The Company is located and headquartered in New York, New York. On June 1, 2021 (the “Closing Date”), Northern Star completed the acquisition of Barkbox, Inc. (“Legacy BARK”), a Delaware corporation, pursuant to that certain Agreement and Plan of Reorganization (the “Merger Agreement”), dated December 16, 2020, by and among Northern Star, NSAC Merger Sub Corp., a Delaware corporation and wholly-owned subsidiary of Northern Star (“Merger Sub”), and Legacy BARK. At the Closing Date, Merger Sub merged with and into Legacy BARK, with Legacy BARK surviving the merger as a wholly owned subsidiary of Northern Star (the “Merger” and, collectively with the other transactions described in the Merger Agreement, the “Business Combination”). Also at the Closing Date, Northern Star changed its name to “The Original BARK Company.” The Merger was accounted for as a reverse recapitalization with Legacy BARK as the accounting acquirer and Northern Star as the acquired company for accounting purposes. Accordingly, all historical financial information presented in the unaudited condensed consolidated financial statements represents the accounts of Legacy BARK and its wholly owned subsidiaries as if Legacy BARK is the predecessor to the Company. Prior to the Merger, Northern Star’s ordinary shares and warrants were traded on the New York Stock Exchange (“NYSE”) under the ticker symbols “STIC” and “STIC WS,” respectively. On the Closing Date, the Company's common stock and warrants began trading on the NYSE under the ticker symbols “BARK” and “BARK WS,” respectively. See Note 3, “Merger,” for additional details.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES6 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESSUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation —The accompanying condensed consolidated financial statements include the accounts of The Original BARK Company and its wholly-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s audited consolidated financial statements as of and for the years ended March 31, 2021 and 2020 contained in the Current Report on Form 8-K filed with the SEC on June 7, 2021. The consolidated balance sheet as of March 31, 2021, included herein, was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including certain notes required by U.S. GAAP, required on an annual reporting basis. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in these condensed consolidated financial statements. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods. The results for the three and six months ended September 30, 2021 are not necessarily indicative of the results to be expected for any subsequent quarter, the year ending March 31, 2022, or any other period. Except as described elsewhere in this Note 2 and in Note 3, “Merger”, there have been no material changes to the Company’s significant accounting policies as described in the audited consolidated financial statements as of March 31, 2021 and 2020. Although the Company has incurred recurring losses in each year since inception, the Company expects its cash and cash equivalents will be sufficient to fund operations for at least the next twelve months. Use of Estimates— The Company makes estimates and assumptions about future events that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Future events and their effects cannot be determined with certainty. On an ongoing basis, management evaluates these estimates, judgments and assumptions. The Company bases its estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s condensed consolidated financial statements. Except with respect to estimates related to the warrant liabilities, there have been no material changes to the Company’s use of estimates as described in the audited consolidated financial statements as of March 31, 2021. Impact of the COVID-19 Pandemic —The Company is closely monitoring the impact of the COVID-19 pandemic, including the emergence and spread of variants of COVID-19, on the U.S. and global economies and on the Company’s operating results, financial condition and cash flows. The estimates of the impact COVID-19 may have on the Company’s business may change based on new information that may emerge concerning COVID-19, the actions to contain it or treat its impact and the economic impact on local, regional, national and international markets. The Company has not incurred any significant impairment losses in the carrying values of its assets as a result of the COVID-19 pandemic and is not aware of any specific related event or circumstance that would require the Company to revise the estimates reflected in its condensed consolidated financial statements. Fair Value of Financial Instruments —The Company’s financial instruments, including cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued expenses, are carried at historical cost. At September 30, 2021 and March 31, 2021, the carrying amounts of these instruments approximated their fair values because of their short-term nature. The carrying amounts of the Company’s long-term debt approximate the fair value based on consideration of current borrowing rates available to the Company. Assets and liabilities recorded at fair value on a recurring basis in the condensed consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows: Level 1 —Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date; Level 2 —Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and Level 3 —Unobservable inputs that are supported by little or no market data for the related assets or liabilities. The categorization of a financial instrument within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following summarizes assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy (in thousands): As of September 30, 2021 Level 1 Level 2 Level 3 Total Liabilities Public warrant liability (1) $ 14,413 $ — $ — $ 14,413 Private warrant liability (1) $ — $ 7,749 $ — $ 7,749 $ 14,413 $ 7,749 $ — $ 22,162 As of March 31, 2021 Level 1 Level 2 Level 3 Total Liabilities Preferred stock warrant liabilities (1) $ — $ — $ 133 $ 133 Derivative liabilities (2) — — $ 4,883 $ 4,883 $ — $ — $ 5,016 $ 5,016 ______________ (1) Included in accrued and other current liabilities. (2) Included in other long-term liabilities. A summary of the activity of the Level 3 liabilities carried at fair value on a recurring basis from March 31, 2021 through September 30, 2021 is as follows: Balance at March 31, 2021 $5,016 Change in fair value of preferred stock warrants 664 Settlement of derivative liability due to 2019 & 2020 Notes conversion (4,883) Settlement of warrant liability upon exercise of warrant (797) Balance at September 30, 2021 $— The Company’s outstanding warrants include publicly-traded warrants (the “Public Warrants”) which were issued as one-third of a warrant per unit issued during the Company’s initial public offering on November 10, 2020 (the “IPO”), warrants sold in a private placement to Northern Star’s sponsor (the “Private Warrants”), and preferred share warrants issued by Legacy BARK which were assumed by the Company in connection with the Merger and exchanged into warrants for BARK common stock (the “Common Stock Warrants”). The Company evaluated its warrants under ASC 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity, and concluded that they do not meet the criteria to be classified in stockholders’ equity. Since the Public Warrants and Private Warrants meet the definition of a derivative under ASC 815, the Company recorded these warrants as current liabilities on the balance sheet at fair value upon the Closing Date of the Merger, with subsequent changes in their respective fair values recognized in other income, net on the condensed consolidated statements of operations and comprehensive income (loss) at each reporting date. See further disclosure on the change in fair value of Public and Private Warrant liabilities within footnote 10, “Other Income - Net.” Restricted Cash —The Company has restricted cash with its primary bank related to customs bonds required for the importing of goods. As of September 30, 2021 and March 31, 2021, the Company has classified $2.3 million and $1.5 million within prepaid expenses and other current assets, as restricted cash. Concentration of Credit Risk and Major Customers and Suppliers —Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains cash and cash equivalents with one domestic financial institution of high credit quality. The Company’s accounts receivable are derived from sales contracts with large retail customers. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary. Significant customers are those that represent more than 10% of the Company’s total revenues or gross accounts receivable balance at each balance sheet date. For the three and six months ended September 30, 2021 and 2020, the Company did not have any customers that accounted for 10% or more of total revenues. The Company had two customers that accounted for 51% and three customers that accounted for 84% of gross accounts receivable as of September 30, 2021 and March 31, 2021, respectively. The Company’s accounts receivable relates to sales to customers within the Commerce segment, which represented 10.8% and 11.1% of total revenue for the three and six months September 30, 2021, respectively. Significant suppliers are those that represent more than 10% of the Company’s total finished goods purchased or accounts payable at each balance sheet date. During the three months ended September 30, 2021 and 2020, the Company had one supplier that accounted for 22% of total finished goods purchased and two suppliers that accounted for 38% of total finished goods purchased, respectively. During the six months ended September 30, 2021 and 2020, the Company had two suppliers that accounted for 33% of total finished goods purchased and two suppliers that accounted for 34% of total finished goods purchased, respectively. The Company had one supplier that accounted for 15% of the accounts payable balance and two suppliers that accounted for 44% of the accounts payable balance as of September 30, 2021 and March 31, 2021, respectively. Recent Accounting Pronouncements Issued but Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which requires a lessee to record a right-of-use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. A modified retrospective transition approach is required, applying the new standard to all leases existing at the date of initial application. An entity may choose to use either (1) its effective date or (2) the beginning of the earliest comparative period presented in the consolidated financial statements as its date of initial application. If an entity chooses the second option, the transition requirements for existing leases also apply to leases entered into between the date of initial application and the effective date. The standard is effective for fiscal years beginning after December 15, 2021, with early adoption permitted. The Company plans to adopt this standard on April 1, 2022 and is continuing to evaluate the expected impact that the standard will have on its consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments , which requires financial assets measured at amortized cost to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. This guidance in the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The Company is currently evaluating the impact that the adoption will have on its consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is intended to simplify the accounting for income taxes. This updated removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The new standard will be effective beginning April 1, 2022. The Company does not expect the adoption of ASU 2019-12 to have a material impact on the Company’s consolidated financial statements.

MERGER

MERGER6 Months Ended
Sep. 30, 2021
Reverse Recapitalization [Abstract]
MERGERMERGER On June 1, 2021, the Company consummated the Merger pursuant to the terms of the Merger Agreement, by and among the Company, NSAC Merger Sub, and Legacy BARK. Immediately upon the consummation of the Merger and the other transactions contemplated by the Merger Agreement (collectively, the “Transactions”), Merger Sub merged with and into Legacy BARK, with Legacy BARK surviving the Business Combination as a wholly-owned subsidiary of the Company. In connection with the Transactions, the Company changed its name to “The Original BARK Company.” The Merger is accounted for as a reverse recapitalization in accordance with U.S. GAAP primarily due to the fact that Legacy BARK stockholders continue to control the Company post the closing of the Merger. Under this method of accounting, Northern Star is treated as the “acquired” company for accounting purposes and the Merger is treated as the equivalent of Legacy BARK issuing stock for the net assets of Northern Star, accompanied by a recapitalization. The net assets of Northern Star are stated at historical cost, with no goodwill or other intangible assets recorded. Reported shares and earnings per share available to holders of the Company’s common stock and equity awards prior to the Business Combination have been retroactively restated reflecting the exchange ratio established pursuant to the Business Combination Agreement (1:8.7425). Treasury stock has also been retrospectively restated to reflect the cancellation and extinguishment of the shares pursuant to the Business Combination Agreement. Pursuant to the Merger, on the Closing Date, each stockholder of Legacy BARK’s common and preferred stock, (including stockholders issued common stock as a result of the conversion of Legacy BARK’s outstanding convertible promissory notes issued in 2019 and 2020 (other than the 2025 Convertible Notes - see Note 5, “Debt”)) received 8.7425 shares of the Company’s common stock, par value $0.0001 per share, per share of Legacy BARK’s common stock and preferred stock, respectively, owned by such Legacy BARK stockholder that was outstanding immediately prior to the Closing Date. In addition, pursuant to the terms of the Merger Agreement, at the Effective Time of the Merger, (1) options to purchase shares of Legacy BARK’s common stock were converted into options to purchase an aggregate of 29,257,576 shares of the Company's common stock and (2) warrants to purchase shares of Legacy BARK’s common and redeemable convertible preferred stock were converted into warrants to purchase an aggregate of 1,897,212 shares of the Company's common stock. Additionally, at the Closing: • The conversion obligations with respect to Legacy BARK’s 5.50% convertible senior secured notes due 2025 (the “2025 Convertible Notes”) were assumed by the Company and the 2025 Convertible Notes became convertible at the election of the holders into shares of the Company's common stock. As of the Closing, the 2025 Convertible Notes were convertible at the election of the holder into an aggregate of 7,713,121 shares of the Company's common stock based on the then outstanding principal and accrued interest. The 2025 Convertible Notes are still outstanding as of September 30, 2021; • certain investors (the “PIPE Investors”) purchased an aggregate of 20,000,000 shares of the Company's common stock in a private placement at a price of $10.00 per share for an aggregate purchase price of $200.0 million (the “PIPE” issuance); • each of the 6,358,750 outstanding shares of Northern Star’s Class B common stock were converted into a share of the Company's common stock on a one-for-one basis. Each outstanding warrant of Northern Star entitles the holder to purchase shares of the Company's common stock at a price of $11.50 per share beginning on November 13, 2021. • the Company amended and restated its amended and restated certificate of incorporation, increasing the number of shares of common stock authorized to issue to 500,000,000 shares. Correction of Previously Issued Condensed Consolidated Financial Statements Subsequent to the issuance of the Company's June 30, 2021 condensed consolidated financial statements, management of the Company identified a presentation error of prior year equity and earnings per share (“EPS”) after the completion of the merger between Legacy BARK and NSAC. For periods before the reverse recapitalization, r eported shares and EPS available common shareholders prior to the Business Combination should have been retroactively restated reflecting the exchange ratio established pursuant to the Business Combination Agreement (1:8.7425). The Company’s treasury stock also should have been retrospectively restated to reflect the cancellation and extinguishment of the shares pursuant to the Business Combination Agreement. While management believes the effect of this error is immaterial to the Company’s previously issued condensed consolidated financial statements as of and for the three months ended June 30, 2021 and 2020, the financial statement line items impacted by this error have been revised below to correct the previously reported amounts. Furthermore, the immaterial error will be corrected prospectively in the Company’s subsequent quarterly and annual filings. The effect of the correction of this error on the Company’s previously issued Condensed Consolidated Balance Sheet as of March 31, 2021, Condensed Consolidated Statements of Stockholders’ Equity (Deficit) for the three months ended June 30, 2021 and 2020, and EPS and weighted average shares outstanding, basic and diluted, for the three months ended June 30, 2020, are as follows: Condensed Consolidated Balance sheet as of March 31, 2021: As of March 31, 2021 As Previously Reported Correction As Revised STOCKHOLDERS’ DEFICIT: (in thousands) Common stock, par value $0.0001 per share $— $— $— Treasury stock, at cost (4,764) 4,764 — Additional paid-in capital 25,748 (4,764) 20,984 Accumulated deficit (179,954) — (179,954) Total stockholders’ equity (deficit) $ (158,970) $ — $ (158,970) The table above displays only the stockholders’ deficit section of the March 31, 2021 condensed consolidated balance sheet, as the remainder of this statement was not impacted by the error. Additionally, common stock authorized and common stock issued and outstanding as of March 31, 2021 were revised from 17,000,000 and 5,498,588 to 148,622,942 and 48,071,777, respectively, to reflect the retroactive application of Exchange Ratio. Condensed Consolidated Statement of Stockholders’ Equity (Deficit) - three months ended June 30, 2021 Convertible Redeemable Preferred Stock Common Stock Treasury Stock Additional Paid-in Capital Accumulated Deficit Total Stockholders’ Equity Shares Amount Shares Amount Shares Amount Balance-April 1, 2021 - as reported 7,752,515 $ 59,987 5,498,588 $ — 259,953 $ (4,764) $ 25,748 $ (179,954) $ (158,970) Correction - retroactive application of recapitalization — — 42,573,189 — (259,953) 4,764 (4,764) — — BALANCE-April 1, 2021, as revised 7,752,515 59,987 48,071,777 — — — 20,984 (179,954) (158,970) Net loss — — — — — — — (24,804) (24,804) Issuance for stock options exercised — — 424,384 — — — 197 — 197 Issuance for warrants exercised — — 231,153 — — — 104 — 104 Stock-based compensation — — — — — — 3,098 — 3,098 Conversion of Preferred Shares (7,752,515) (59,987) 7,752,515 — — — 59,987 — 59,987 Conversion of Convertible Notes — — 1,135,713 — — — 11,976 — 11,976 PIPE Issuance — — 20,000,000 — — — 200,000 — 200,000 Net equity infusion from the Merger — — 89,088,942 (1) 1 — — 150,256 (2) — 150,257 Cumulative translation adjustment — — — — — — — 2 2 Balance-June 30, 2021 — $ — 166,704,484 $ 1 — $ — $ 446,602 $ (204,756) $ 241,847 (1) Common stock issued for the net equity infusion from the Merger was reported as 131,662,131 within the condensed consolidated statement of stockholders’ equity for the three months ended June 30, 2021 and has been revised to 89,088,942 to appropriately reflect the correction of the recapitalization of common stock outstanding as of April 1, 2021 of 42,573,189. (2) Additional paid-in capital was reported as $145.5 million within the condensed consolidated statement of stockholders’ equity for the three months ended June 30, 2021 and has been revised to $150.3 million to appropriately reflect the cancellation and extinguishment of the Company’s outstanding treasury stock of $4.8 million , pursuant to the Business Combination Agreement. Condensed Consolidated Statement of Stockholders’ Equity (Deficit) - three months ended June 30, 2020 Convertible Preferred Stock Common Stock Treasury Stock Additional Accumulated Deficit Total Stockholders’ Deficit Shares Amount Shares Amount Shares Amount Balance-April 1, 2020 - as reported 7,752,515 $ 59,987 5,196,711 $ — 259,953 $ (4,755) $ 17,931 $ (148,563) $ (135,387) Correction - retroactive application of recapitalization — — 40,235,073 — (259,953) 4,755 (4,755) — — BALANCE-April 1, 2020, as revised 7,752,515 59,987 45,431,784 — — — 13,176 (148,563) (135,387) Net Income — — — — — — — 2,016 2,016 Issuance for stock options exercised — — 274,278 (1) — — — 222 — 222 Stock-based compensation — — — — — — 388 — 388 Balance-June 30, 2020 7,752,515 $ 59,987 45,706,062 $ — — $ — $ 13,786 $ (146,547) $ (132,761) (1) Common stock issued for stock options exercised was reported as 31,363 within the condensed consolidated statement of stockholders’ deficit for the three months ended June 30, 2020, and has been revised to 274,278 to appropriately apply the impact of the Exchange Ratio. Three months ended As Previously Reported Correction As Revised Numerator: Net income (loss) $2,016 $— $2,016 Less: Earnings attributable to participating securities $(1,583) $— $(1,583) Net loss attributable to common stockholders—basic and diluted $433 $— $433 Denominator: Weighted-average number of common shares outstanding—basic and diluted 5,206,474 40,311,437 45,517,911 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive preferred stock 3,333,119 25,806,874 29,139,993 Effect of potentially dilutive stock options to purchase common stock 971,920 7,525,149 8,497,069 Effect of potentially dilutive warrants to purchase common stock 74,342 575,597 649,939 Effect of potentially dilutive warrants to purchase preferred stock 523 4,049 4,572 Weighted average common shares outstanding—diluted 9,586,378 74,223,106 83,809,484 Net income (loss) per share attributable to common stockholders Net income (loss) per share attributable to common stockholders - basic $0.08 $(0.07) $0.01 Net income (loss) per share attributable to common stockholders - diluted $0.05 $(0.04) $0.01

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS6 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERSREVENUE FROM CONTRACTS WITH CUSTOMERS The Company’s standard payment terms vary but do not result in a significant delay between the timing of invoice and payment. The Company occasionally negotiates other payment terms during the contracting process for its retail business. The Company has elected the practical expedient to not adjust the total consideration within a contract to reflect a financing component when the duration of the financing is one year or less. Disaggregated Revenue Revenue disaggregated by significant revenue stream for the three and six-months ended September 30, 2021 and 2020 were as follows (in thousands): Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 Revenue Direct to Consumer: Toys and treats subscription $103,985 $73,949 $207,074 $139,557 Other 2,832 1,419 5,119 2,911 Total Direct to Consumer $106,817 $75,368 $212,193 $142,468 Commerce 13,345 11,045 25,575 18,753 Revenue $120,162 $86,413 $237,768 $161,221 Contract Liability The Company’s contract liability represents cash collections from its customers prior to delivery of subscription products, which is recorded as deferred revenue on the condensed consolidated balance sheets. Deferred revenue is recognized as revenue upon the delivery of the box or product. Contractual liabilities included in deferred revenue were $28.4 million and $27.2 million as of September 30, 2021 and March 31, 2021, respectively. During the six months ended September 30, 2021, the Company recognized $16.8 million of revenue included in deferred revenue as of March 31, 2021. Performance Obligations

DEBT

DEBT6 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]
DEBTDEBT As of September 30, 2021 and March 31, 2021, long-term debt consisted of the following (in thousands): As of September 30, As of March 31, 2021 2021 2025 Convertible Notes $75,000 $75,000 Western Alliance revolving line of credit & term loan — 34,300 Convertible promissory notes — 7,167 PPP loan — 5,157 75,000 121,624 Less: deferred financing fees and debt discount (3,265) (5,895) Total long-term debt $71,735 $115,729 Western Alliance Bank—Line of Credit and Term Loan In October 2017, the Company entered into a new loan and security agreement (the “Western Alliance Agreement”) and issued a warrant to purchase preferred stock (“Initial Western Alliance Warrant”) to Western Alliance Bank (“Western Alliance”), which provided for a secured revolving line of credit (the “Credit Facility”) in an aggregate principal amount of up to $35.0 million with a maturity date of October 12, 2020. On December 7, 2018, the Company amended the Western Alliance Agreement, which included the issuance of a warrant to purchase common stock (“Subsequent Western Alliance Warrant”) to Western Alliance. The modification to the Western Alliance Agreement provided for an additional term loan of $10.0 million at issuance and an incremental seasonal loan of $5.0 million. The seasonal loan matured and was repaid on March 31, 2020. The term loan matures December 31, 2021. On July 31, 2020, the Company amended the Western Alliance Agreement and extended the expiration of the warrants to July 31, 2030. The modification to the Western Alliance Agreement amended the maturity date of the Credit Facility to August 12, 2021. On November 27, 2020, the Company repaid the outstanding $10.0 million principal of the term loan with Western Alliance Bank, as well as $0.2 million of early repayment fees, using proceeds from the issuance of the 2025 Convertible Notes (the “2025 Convertible Notes”). See further discussion of the 2025 Convertible Notes issuance below. In conjunction with the 2025 Convertible Notes issuance, the Company amended the Western Alliance Agreement to extend the Credit Facility repayment date from August 12, 2021 to December 31, 2021. On January 22, 2021, the Company amended the Western Alliance Agreement to extend the Credit Facility maturity date to May 31, 2022. The interest rate for borrowings under the Credit Facility, as amended, is equal to (i) the greater of the prime rate that is published in the Money Rates section of The Wall Street Journal from time to time (the “Prime Rate”) and 5.25%, plus (ii) half of one percent (0.50%), per annum. The Credit Facility has a borrowing base subject to an amount equal to eighty percent (80.00%) of the Company’s trailing three months of subscription revenue. Western Alliance has first perfected security in substantially all of the Company’s assets, including its rights to its intellectual property. As of March 31, 2021, the Company had $34.3 million of outstanding borrowings under the Credit Facility, recorded as debt on the accompanying condensed consolidated balance sheet. On June 15, 2021, in connection with the Merger, the Company repaid the outstanding balance on the Credit Facility, and as of September 30, 2021 there are no outstanding borrowings under the Credit Facility. The full amount of the Credit Facility of $35.0 million remains available to be borrowed by the Company if or when needed through the termination date of the agreement of May 31, 2022. Under the terms of this Credit Facility, the Company is required to comply with certain financial and nonfinancial covenants, including covenants to maintain certain liquidity amounts, as defined in the amended Western Alliance Agreement. As of September 30, 2021 and March 31, 2021, the Company was compliant with its financial covenants. Convertible Promissory Notes On December 19, 2019, the Company entered into a note purchase agreement and issued individual convertible promissory notes thereunder (the “2019 Notes”), with an option for subsequent closings through May 1, 2020 for up to $10.0 million in aggregate principal. The Company received gross proceeds of $3.9 million in two December 2019 closings. The 2019 Notes bore interest at a rate of 7% per year, capitalized quarterly, and payable in kind (“PIK Interest”). The 2019 Notes had a maturity date of December 19, 2024, unless previously converted into equity securities pursuant to the terms of the note purchase agreement. On March 31, 2020, the Company entered into a note purchase agreement and issued individual convertible promissory notes thereunder (the “2020 Notes”), with an option for subsequent closings through May 1, 2020 for up to $10.0 million in aggregate principal. The Company received gross proceeds of $1.5 million from the initial closing of the note purchase agreement on March 31, 2020 with employees, founders, and existing investors, representing a related party transaction. The agreement consisted of both Pro Rata Notes and Super Pro Rata Notes. Pro-Rata Notes are defined as one or more promissory notes issued to each lender with respect to the amount of the lender’s consideration, up to the lender’s pro rata amount as set forth in the note purchase agreement. Super Pro-Rata Notes are defined as one or more promissory notes issued to each lender with respect to the lender’s amount of consideration paid in excess of their pro rata amount. The Super Pro Rata Notes bore interest at a rate of 10% per year, capitalized quarterly, and payable in kind (“PIK Interest”), while the Pro Rata Notes bore interest at a rate of 8% per year, capitalized quarterly, and PIK Interest. The 2020 Notes had a maturity date of March 30, 2023, unless previously converted into equity securities pursuant to the terms of the note purchase agreement. On May 1, 2020, the Company received gross proceeds of $1.0 million from the second closing of the March 31, 2020 note purchase agreement with existing investors, representing a related party transaction. On June 18, 2020, the Company amended the term loan with Pinnacle Ventures, LLC (“Pinnacle”), which extended the initial principal repayment period. In consideration of the modification, the Company issued to Pinnacle convertible promissory notes under the March 31, 2020 note purchase agreement of $0.8 million from the third closing of the March 31, 2020 note purchase agreement. On November 27, 2020, in connection with the 2025 Convertible Notes issuance, the Company entered into subordination agreements with the holders of the 2019 Notes and 2020 Notes and extended the maturity of the notes to May 30, 2026. On December 16, 2020, in connection with the execution of the Merger, the Company amended the note purchase agreements associated with the 2019 Notes and 2020 Notes to amend the conversion terms of the notes. The 2019 Notes and 2020 Notes included the following features that were assessed and determined to meet all of the criteria required to be separated as an embedded derivative from its host: • In-substance put options upon Qualified or Non-Qualified Equity Financing • Redemption (put option) upon deemed liquidation event As of March 31, 2021, the Company had $7.2 million of outstanding borrowings under the 2019 Notes and 2020 Notes. On June 1, 2021, in connection with the closing of the Merger, the outstanding principal and interest of the 2019 Notes and 2020 Notes were converted to 1,135,713 common shares of the Company, with a fair value of $12.8 million. The conversion of the notes resulted in a loss on extinguishment of $2.6 million recorded to other expense included in other income, net on the condensed consolidated statement of operations and comprehensive income (loss), as well as a capital contribution of $0.7 million recorded to additional paid-in-capital on the condensed consolidated balance sheet for the portion of the loss associated with the 2020 Notes which were with related parties. Paycheck Protection Program On April 24, 2020, the Company received funds of $5.2 million under the Paycheck Protection Program (“PPP”), a part of the CARES Act. The loan was serviced by Western Alliance Bank, and the application for these funds required the Company to, in good faith, certify that the current economic uncertainty made the loan necessary to support ongoing operations. On June 11, 2021, the Company voluntarily repaid in full the outstanding principal and interest amounts of the PPP loan. 2025 Convertible Notes On November 27, 2020, the Company issued $75.0 million aggregate principal amount of 2025 Convertible Notes to Magnetar Capital, LLC (“Magnetar”) under an indenture, dated as of November 27, 2020, between Legacy BARK and U.S. Bank National Association, as trustee and collateral agent (the “Indenture”). The Company received net proceeds of approximately $74.7 million from the sale of the 2025 Convertible Notes, after deducting fees and expenses of approximately $0.3 million. The Company recorded the expenses as a discount to the note and will amortize over the term of the note. The 2025 Convertible Notes will mature on December 1, 2025, unless earlier converted, redeemed or repurchased. For a period of one year from the issuance date of the 2025 Convertible Notes, certain funds affiliated with Magnetar may request the Company issue additional notes up to $25.0 million aggregate principal amount. The Company used approximately $27.6 million of the net proceeds from the sale of the 2025 Convertible Notes to repay the outstanding term loans with Western Alliance Bank and Pinnacle, which included $2 million of early repayment fees related to the Pinnacle loan. The 2025 Convertible Notes are governed by the Indenture. The 2025 Convertible Notes bear interest at the annual rate of 5.50%, payable entirely in payment-in-kind annually on December 1 st of each year commencing December 1, 2021, compounded annually. If the 2025 Convertible Notes are not converted into common stock by the maturity date, the Company must repay the outstanding principal amount plus accrued interest. The 2025 Convertible Notes contain call and put options to be settled in cash contingent upon the occurrence of a change of control and a default interest rate increase of 3.0% applicable upon the occurrence of an event of default that when evaluated under the guidance of ASC 815, Derivatives and Hedging , are embedded derivatives requiring bifurcation at fair value. The fair value calculation includes Level 3 inputs including the estimated fair value of the Company’s common stock and assumptions regarding the probability that the contingent call or put will be exercised or an event of default will occur. Management determined that the probability that the contingent events will occur was near zero at inception and has remained near zero as of September 30, 2021. Therefore, the Company did not record a derivative liability related to these features at September 30, 2021. The Company will assess the probability of occurrence quarterly during the term of the 2025 Convertible Notes. As of both September 30, 2021 and March 31, 2021, the Company had $75.0 million of outstanding borrowings under the 2025 Convertible Notes agreement.

REDEEMABLE CONVERTIBLE PREFERRE

REDEEMABLE CONVERTIBLE PREFERRED STOCK6 Months Ended
Sep. 30, 2021
Temporary Equity [Abstract]
REDEEMABLE CONVERTIBLE PREFERRED STOCKREDEEMABLE CONVERTIBLE PREFERRED STOCK The following table summarizes issued and outstanding redeemable convertible preferred stock of Legacy BARK as of both immediately prior to the Closing Date and March 31, 2021 (in thousands, except share and per share information): Redeemable Convertible Preferred Stock Shares Carrying Value Series Seed 2,057,188 $ 1,897 Series A 2,110,400 4,948 Series B 990,068 10,285 Series C 2,142,188 34,585 Series C-1 452,671 8,272 Prior to the completion of the Merger there were no significant changes to the terms of the Redeemable Convertible Preferred Stock. Upon the Closing of the Merger, the Legacy BARK redeemable convertible preferred stock converted into 67,776,888 shares of the Company’s common stock based on the Merger’s exchange ratio of 8.7425. The Company recorded the conversion at the carrying value of the redeemable convertible preferred stock at the time of Closing. There are no shares of redeemable convertible preferred stock authorized or outstanding as of September 30, 2021.

STOCK-BASED COMPENSTION PLANS

STOCK-BASED COMPENSTION PLANS6 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSTION PLANSSTOCK-BASED COMPENSATION PLANS Equity Incentive Plans The Barkbox, Inc. 2011 Stock Incentive Plan (as amended from time to time, the “2011 Plan”) provides for the award of stock options and other equity interests in the Company to directors, officers, employees, advisors or consultants of the Company. On June 1, 2021, in connection with the Merger, the 2021 Equity Incentive Plan (the “2021 Plan”) became effective and 16,929,505 authorized shares of common stock were reserved for issuance thereunder. In addition, pursuant to the terms of the Merger Agreement, on the Closing Date of the Merger, options to purchase shares of Legacy BARK’s common stock previously issued under the 2011 Plan were converted into options to purchase an aggregate of 29,390,344 shares of BARK common stock. As of September 30, 2021, 14,487,001 shares of common stock were available for the Company to grant under the 2021 Stock Plan; there were no more shares available for grant under the 2011 Plan. Beginning on April 1, 2022 and ending on (and including) March 31, 2031, the aggregate number of shares of common stock that may be issued under the 2021 Plan shall increase by a number, determined by the Company's board of directors on or before May 1st of such fiscal year, not to exceed 5% of the total number of shares of common stock issued and outstanding on the last day of the preceding fiscal year. The 2011 and 2021 Plans (together, the “Plans”) are administered by the Company’s Compensation Committee of its board of directors (the “Compensation Committee”). The exercise prices, vesting and other restrictions are determined by the Board, except that the exercise price per share of a stock option may not be less than 100% of the fair value of the common share on the date of grant. Stock options awarded under the Plans typically expire 10 years after the date of the grant and generally have vesting conditions of 25% on the first anniversary of the date of grant and 75% on a monthly basis at a rate of 1/36th unless otherwise decided by the Compensation Committee. The Plans provide that the Compensation Committee shall determine the vesting conditions of awards granted under the Plans, and the Compensation Committee has from time to time approved vesting schedules for certain awards that deviate from the vesting conditions contained in the previous sentence. Stock Option Activity During the six months ended September 30, 2021 the Company granted to its employees equity awards to purchase an aggregate of 1,127,886 shares of common stock with a weighted average exercise price of $9.02 vesting over a four-year period. Restricted Stock Unit (“RSU”) Activity During the six months ended September 30, 2021 the Company granted to its employees 1,979,669 million service based awards. Each award will vest based on continued service which is generally four years. The grant date fair value of the award will be recognized as compensation expense over the requisite service period. The fair value of the restricted stock units was estimated on the date of grant based on the fair value of the Company’s common stock. The following table summarizes the total stock-based compensation expense by function for the three and six months ended September 30, 2021 and 2020, which includes expense related to options, restricted stock units, and secondary sales (in thousands): Three months ended Six months ended September 30, September 30, 2021 2020 2021 2020 General and administrative $ 1,501 $ 961 $2,398 $1,321 Advertising and marketing 2,228 43 4,428 71 Total stock-based compensation expense $ 3,729 $ 1,004 $6,827 $1,392 Employee Stock Purchase Plan

COMMITMENT AND CONTINGENCIES

COMMITMENT AND CONTINGENCIES6 Months Ended
Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENT AND CONTINGENCIESCOMMITMENT AND CONTINGENCIESLitigationThe Company is a party to various actions and claims arising in the normal course of business. The Company does not believe that the final outcome of these matters will have a material effect on the Company’s condensed consolidated financial position, results of operations or cash flows. However, no assurance can be given that the final outcome of such proceedings will not materially impact the Company’s condensed consolidated financial condition or results of operations.

INCOME TAXES

INCOME TAXES6 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXESINCOME TAXESThe Company did not record a federal, state, or foreign income tax provision or benefit for the three months or six months ended September 30, 2021 due to the expected loss before income taxes to be incurred for the year ended March 31, 2022, as well as the Company’s continued maintenance of a full valuation allowance against its net deferred tax assets.

OTHER INCOME - NET

OTHER INCOME - NET6 Months Ended
Sep. 30, 2021
Other Income and Expenses [Abstract]
OTHER INCOME - NETOTHER INCOME—NETOther income—net consisted of the following: Three Months Ended Six Months Ended 2021 2020 2021 2020 Other income — net: Other income $ 71 $ (18) $ 183 $ 169 Change in fair value of warrants 23,407 (16) 19,508 (16) Change in fair value of derivative liability — 1,245 — 1,279 Loss on extinguishment of debt — — (2,598) — Loss on warrant exercise (303) — (303) — $ 23,175 $ 1,211 $ 16,790 $ 1,432

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE6 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARENET INCOME (LOSS) PER SHARE Basic and diluted net income (loss) per share attributable to common stockholders was calculated as follows: Three months ended Six months ended 2021 2020 2021 2020 Numerator: Net income (loss) $6,455 $(1,378) $(18,349) $638 Less: Earnings attributable to participating securities $— $— $— $(638) Net income (loss) attributable to common stockholders—basic and diluted $6,455 $(1,378) $(18,349) $— Denominator: Weighted-average number of common shares outstanding—basic 169,173,509 45,889,103 139,133,082 45,704,365 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive stock options to purchase common stock 5,858,268 — — — Effect of potentially dilutive restricted stock units 1,979,669 — — — Weighted average common shares outstanding—diluted 177,011,446 45,889,103 139,133,082 45,704,365 Net income (loss) per share attributable to common stockholders Net income (loss) per share attributable to common stockholders - basic $0.04 $(0.03) $(0.13) $— Net income (loss) per share attributable to common stockholders - diluted $0.04 $(0.03) $(0.13) $— As the Company had net income attributable to common shareholders during the three months ended September 30, 2021, the Company’s potential dilutive securities, which include stock options, and RSU’s, were included in the calculation of diluted net income per share attributable to common stockholders. The Company’s 13,036,333 outstanding warrants to purchase common stock, and notes which would convert to shares as of September 30, 2021 have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. For the six months ended September 30, 2021, the Company’s potential dilutive securities, which include stock options, RSU’s, warrants and convertible notes have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common stock outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same for the six months ended September 30, 2021. For the three and six months ended September 30, 2020, the Company’s potential dilutive securities, which include redeemable convertible preferred stock, stock options and warrants, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common stock outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same for the three and six months ended September 30, 2020. The Company excluded the following potential common stock, presented based on amounts outstanding at September 30, 2021 and 2020 from the computation of diluted net loss per share attributable to common shareholders for the three and six months ended September 30, 2021 and 2020 because including them would have had an anti-dilutive effect. Three months ended Six months ended 2021 2020 2021 2020 Redeemable convertible preferred stock as converted to common stock — 28,390,692 — 28,390,692 Stock options to purchase common stock 20,811,019 29,139,793 26,669,287 29,139,793 Restricted stock units — — 1,979,669 — Warrants to purchase common stock 13,036,333 2,044,705 13,036,333 2,044,705 Warrants to purchase preferred stock — 4,572 — 4,572 2025 convertible notes as converted to common stock 7,847,188 — 7,847,188 —

SEGMENTS

SEGMENTS6 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]
SEGMENTSSEGMENTS The Company applies ASC 280, Segment Reporting , in determining reportable segments for its financial statement disclosure. The Company has two reportable segments: Direct to Consumer and Commerce. The Direct to Consumer segment derives revenue from the sale of BarkBox, Super Chewer, BARK Bright and BARK Eats subscriptions, as well as product line sales through the Company’s website, BarkShop. The Commerce segment derives revenue from the sale of toys, treats and BARK Home products through major retailers and online marketplaces. Reporting in this format provides management with the financial information necessary to evaluate the success of the segments and the overall business. There are no internal revenue transactions between the Company’s segments. The CODM reviews revenue and gross profit for both of the reportable segments. Gross profit is defined as revenue less cost of revenue incurred by the segment. The Company does not allocate assets at the reportable segment level as these are managed on an entity wide group basis and, accordingly, the Company does not report asset information by segments. Key financial performance measures of the segments including revenue, cost of revenue, and gross profit are as follows (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Direct to Consumer: Revenue $106,817 $75,368 $212,193 $142,468 Cost of revenue 42,499 29,052 83,319 53,168 Gross profit 64,318 46,316 128,874 89,300 Commerce: Revenue 13,345 11,045 25,575 18,753 Cost of revenue 7,777 5,807 14,772 9,579 Gross profit 5,568 5,238 10,803 9,174 Consolidated: Revenue 120,162 86,413 237,768 161,221 Cost of revenue 50,276 34,859 98,091 62,747 Gross profit $69,886 $51,554 $139,677 $98,474

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS6 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTSSUBSEQUENT EVENTS On October 29, 2021, the Company entered into a lease agreement for a new office space. The new lease commences on April 1, 2022 and includes escalating rent payments and a 198 month term. Rent expense will be recorded on a straight-line basis over the lease term. Future minimum lease payments required under the operating lease are approximately $51.7 million. In connection with the lease agreement the Company executed a letter of credit of approximately $1.9 million. On October 29, 2021, the Company and Western Alliance entered into the eleventh loan and security modification agreement, which increased the sublimit for foreign exchange services and export, import, and standby letters of credit under the Company’s existing loan and security agreement with Western Alliance to $2.7 million.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)6 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]
Basis of PresentationThe accompanying condensed consolidated financial statements include the accounts of The Original BARK Company and its wholly-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s audited consolidated financial statements as of and for the years ended March 31, 2021 and 2020 contained in the Current Report on Form 8-K filed with the SEC on June 7, 2021.
Principles of ConsolidationThe consolidated balance sheet as of March 31, 2021, included herein, was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including certain notes required by U.S. GAAP, required on an annual reporting basis. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in these condensed consolidated financial statements. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods. The results for the three and six months ended September 30, 2021 are not necessarily indicative of the results to be expected for any subsequent quarter, the year ending March 31, 2022, or any other period.
Use of EstimatesThe Company makes estimates and assumptions about future events that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Future events and their effects cannot be determined with certainty. On an ongoing basis, management evaluates these estimates, judgments and assumptions.The Company bases its estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s condensed consolidated financial statements. Except with respect to estimates related to the warrant liabilities, there have been no material changes to the Company’s use of estimates as described in the audited consolidated financial statements as of March 31, 2021.
Fair Value of Financial InstrumentsThe Company’s financial instruments, including cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued expenses, are carried at historical cost. At September 30, 2021 and March 31, 2021, the carrying amounts of these instruments approximated their fair values because of their short-term nature. The carrying amounts of the Company’s long-term debt approximate the fair value based on consideration of current borrowing rates available to the Company. Assets and liabilities recorded at fair value on a recurring basis in the condensed consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows: Level 1 —Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date; Level 2 —Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and Level 3 —Unobservable inputs that are supported by little or no market data for the related assets or liabilities.
Restricted CashThe Company has restricted cash with its primary bank related to customs bonds required for the importing of goods.
Concentration of Credit Risk and Major Customers and SuppliersFinancial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains cash and cash equivalents with one domestic financial institution of high credit quality. The Company’s accounts receivable are derived from sales contracts with large retail customers. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary.
Recently Issued Accounting Pronouncements Not Yet AdoptedIn February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which requires a lessee to record a right-of-use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. A modified retrospective transition approach is required, applying the new standard to all leases existing at the date of initial application. An entity may choose to use either (1) its effective date or (2) the beginning of the earliest comparative period presented in the consolidated financial statements as its date of initial application. If an entity chooses the second option, the transition requirements for existing leases also apply to leases entered into between the date of initial application and the effective date. The standard is effective for fiscal years beginning after December 15, 2021, with early adoption permitted. The Company plans to adopt this standard on April 1, 2022 and is continuing to evaluate the expected impact that the standard will have on its consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments , which requires financial assets measured at amortized cost to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. This guidance in the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The Company is currently evaluating the impact that the adoption will have on its consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is intended to simplify the accounting for income taxes. This updated removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The new standard will be effective beginning April 1, 2022. The Company does not expect the adoption of ASU 2019-12 to have a material impact on the Company’s consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)6 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring BasisThe following summarizes assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy (in thousands): As of September 30, 2021 Level 1 Level 2 Level 3 Total Liabilities Public warrant liability (1) $ 14,413 $ — $ — $ 14,413 Private warrant liability (1) $ — $ 7,749 $ — $ 7,749 $ 14,413 $ 7,749 $ — $ 22,162 As of March 31, 2021 Level 1 Level 2 Level 3 Total Liabilities Preferred stock warrant liabilities (1) $ — $ — $ 133 $ 133 Derivative liabilities (2) — — $ 4,883 $ 4,883 $ — $ — $ 5,016 $ 5,016 ______________ (1) Included in accrued and other current liabilities. (2) Included in other long-term liabilities.
Summary of Liabilities Measured at Fair Value on a Recurring BasisA summary of the activity of the Level 3 liabilities carried at fair value on a recurring basis from March 31, 2021 through September 30, 2021 is as follows: Balance at March 31, 2021 $5,016 Change in fair value of preferred stock warrants 664 Settlement of derivative liability due to 2019 & 2020 Notes conversion (4,883) Settlement of warrant liability upon exercise of warrant (797) Balance at September 30, 2021 $—

Business Combinations and Asset

Business Combinations and Asset Acquisitions (Tables)6 Months Ended
Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Error Corrections and Prior Period AdjustmentsCondensed Consolidated Balance sheet as of March 31, 2021: As of March 31, 2021 As Previously Reported Correction As Revised STOCKHOLDERS’ DEFICIT: (in thousands) Common stock, par value $0.0001 per share $— $— $— Treasury stock, at cost (4,764) 4,764 — Additional paid-in capital 25,748 (4,764) 20,984 Accumulated deficit (179,954) — (179,954) Total stockholders’ equity (deficit) $ (158,970) $ — $ (158,970) Condensed Consolidated Statement of Stockholders’ Equity (Deficit) - three months ended June 30, 2021 Convertible Redeemable Preferred Stock Common Stock Treasury Stock Additional Paid-in Capital Accumulated Deficit Total Stockholders’ Equity Shares Amount Shares Amount Shares Amount Balance-April 1, 2021 - as reported 7,752,515 $ 59,987 5,498,588 $ — 259,953 $ (4,764) $ 25,748 $ (179,954) $ (158,970) Correction - retroactive application of recapitalization — — 42,573,189 — (259,953) 4,764 (4,764) — — BALANCE-April 1, 2021, as revised 7,752,515 59,987 48,071,777 — — — 20,984 (179,954) (158,970) Net loss — — — — — — — (24,804) (24,804) Issuance for stock options exercised — — 424,384 — — — 197 — 197 Issuance for warrants exercised — — 231,153 — — — 104 — 104 Stock-based compensation — — — — — — 3,098 — 3,098 Conversion of Preferred Shares (7,752,515) (59,987) 7,752,515 — — — 59,987 — 59,987 Conversion of Convertible Notes — — 1,135,713 — — — 11,976 — 11,976 PIPE Issuance — — 20,000,000 — — — 200,000 — 200,000 Net equity infusion from the Merger — — 89,088,942 (1) 1 — — 150,256 (2) — 150,257 Cumulative translation adjustment — — — — — — — 2 2 Balance-June 30, 2021 — $ — 166,704,484 $ 1 — $ — $ 446,602 $ (204,756) $ 241,847 (1) Common stock issued for the net equity infusion from the Merger was reported as 131,662,131 within the condensed consolidated statement of stockholders’ equity for the three months ended June 30, 2021 and has been revised to 89,088,942 to appropriately reflect the correction of the recapitalization of common stock outstanding as of April 1, 2021 of 42,573,189. (2) Additional paid-in capital was reported as $145.5 million within the condensed consolidated statement of stockholders’ equity for the three months ended June 30, 2021 and has been revised to $150.3 million to appropriately reflect the cancellation and extinguishment of the Company’s outstanding treasury stock of $4.8 million , pursuant to the Business Combination Agreement. Condensed Consolidated Statement of Stockholders’ Equity (Deficit) - three months ended June 30, 2020 Convertible Preferred Stock Common Stock Treasury Stock Additional Accumulated Deficit Total Stockholders’ Deficit Shares Amount Shares Amount Shares Amount Balance-April 1, 2020 - as reported 7,752,515 $ 59,987 5,196,711 $ — 259,953 $ (4,755) $ 17,931 $ (148,563) $ (135,387) Correction - retroactive application of recapitalization — — 40,235,073 — (259,953) 4,755 (4,755) — — BALANCE-April 1, 2020, as revised 7,752,515 59,987 45,431,784 — — — 13,176 (148,563) (135,387) Net Income — — — — — — — 2,016 2,016 Issuance for stock options exercised — — 274,278 (1) — — — 222 — 222 Stock-based compensation — — — — — — 388 — 388 Balance-June 30, 2020 7,752,515 $ 59,987 45,706,062 $ — — $ — $ 13,786 $ (146,547) $ (132,761) (1) Common stock issued for stock options exercised was reported as 31,363 within the condensed consolidated statement of stockholders’ deficit for the three months ended June 30, 2020, and has been revised to 274,278 to appropriately apply the impact of the Exchange Ratio. Three months ended As Previously Reported Correction As Revised Numerator: Net income (loss) $2,016 $— $2,016 Less: Earnings attributable to participating securities $(1,583) $— $(1,583) Net loss attributable to common stockholders—basic and diluted $433 $— $433 Denominator: Weighted-average number of common shares outstanding—basic and diluted 5,206,474 40,311,437 45,517,911 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive preferred stock 3,333,119 25,806,874 29,139,993 Effect of potentially dilutive stock options to purchase common stock 971,920 7,525,149 8,497,069 Effect of potentially dilutive warrants to purchase common stock 74,342 575,597 649,939 Effect of potentially dilutive warrants to purchase preferred stock 523 4,049 4,572 Weighted average common shares outstanding—diluted 9,586,378 74,223,106 83,809,484 Net income (loss) per share attributable to common stockholders Net income (loss) per share attributable to common stockholders - basic $0.08 $(0.07) $0.01 Net income (loss) per share attributable to common stockholders - diluted $0.05 $(0.04) $0.01

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)6 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated RevenueRevenue disaggregated by significant revenue stream for the three and six-months ended September 30, 2021 and 2020 were as follows (in thousands): Three Months Ended Six Months Ended September 30, September 30, 2021 2020 2021 2020 Revenue Direct to Consumer: Toys and treats subscription $103,985 $73,949 $207,074 $139,557 Other 2,832 1,419 5,119 2,911 Total Direct to Consumer $106,817 $75,368 $212,193 $142,468 Commerce 13,345 11,045 25,575 18,753 Revenue $120,162 $86,413 $237,768 $161,221

DEBT (Tables)

DEBT (Tables)6 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-term DebtAs of September 30, 2021 and March 31, 2021, long-term debt consisted of the following (in thousands): As of September 30, As of March 31, 2021 2021 2025 Convertible Notes $75,000 $75,000 Western Alliance revolving line of credit & term loan — 34,300 Convertible promissory notes — 7,167 PPP loan — 5,157 75,000 121,624 Less: deferred financing fees and debt discount (3,265) (5,895) Total long-term debt $71,735 $115,729

REDEEMABLE CONVERTIBLE PREFER_2

REDEEMABLE CONVERTIBLE PREFERRED STOCK (Tables)6 Months Ended
Sep. 30, 2021
Temporary Equity [Abstract]
Schedule of Redeemable Convertible Preferred StockThe following table summarizes issued and outstanding redeemable convertible preferred stock of Legacy BARK as of both immediately prior to the Closing Date and March 31, 2021 (in thousands, except share and per share information): Redeemable Convertible Preferred Stock Shares Carrying Value Series Seed 2,057,188 $ 1,897 Series A 2,110,400 4,948 Series B 990,068 10,285 Series C 2,142,188 34,585 Series C-1 452,671 8,272

STOCK-BASED COMPENSTION PLANS (

STOCK-BASED COMPENSTION PLANS (Tables)6 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock-based Compensation Expense by FunctionThe following table summarizes the total stock-based compensation expense by function for the three and six months ended September 30, 2021 and 2020, which includes expense related to options, restricted stock units, and secondary sales (in thousands): Three months ended Six months ended September 30, September 30, 2021 2020 2021 2020 General and administrative $ 1,501 $ 961 $2,398 $1,321 Advertising and marketing 2,228 43 4,428 71 Total stock-based compensation expense $ 3,729 $ 1,004 $6,827 $1,392

OTHER INCOME - NET (Tables)

OTHER INCOME - NET (Tables)6 Months Ended
Sep. 30, 2021
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense)Other income—net consisted of the following: Three Months Ended Six Months Ended 2021 2020 2021 2020 Other income — net: Other income $ 71 $ (18) $ 183 $ 169 Change in fair value of warrants 23,407 (16) 19,508 (16) Change in fair value of derivative liability — 1,245 — 1,279 Loss on extinguishment of debt — — (2,598) — Loss on warrant exercise (303) — (303) — $ 23,175 $ 1,211 $ 16,790 $ 1,432

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)6 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Net Income (Loss) Per Share, Basic and DilutedBasic and diluted net income (loss) per share attributable to common stockholders was calculated as follows: Three months ended Six months ended 2021 2020 2021 2020 Numerator: Net income (loss) $6,455 $(1,378) $(18,349) $638 Less: Earnings attributable to participating securities $— $— $— $(638) Net income (loss) attributable to common stockholders—basic and diluted $6,455 $(1,378) $(18,349) $— Denominator: Weighted-average number of common shares outstanding—basic 169,173,509 45,889,103 139,133,082 45,704,365 Weighted average effect of potentially dilutive securities: Effect of potentially dilutive stock options to purchase common stock 5,858,268 — — — Effect of potentially dilutive restricted stock units 1,979,669 — — — Weighted average common shares outstanding—diluted 177,011,446 45,889,103 139,133,082 45,704,365 Net income (loss) per share attributable to common stockholders Net income (loss) per share attributable to common stockholders - basic $0.04 $(0.03) $(0.13) $— Net income (loss) per share attributable to common stockholders - diluted $0.04 $(0.03) $(0.13) $—
Schedule of Antidilutive Securities Excluded from Computation of Net Loss Per ShareThe Company excluded the following potential common stock, presented based on amounts outstanding at September 30, 2021 and 2020 from the computation of diluted net loss per share attributable to common shareholders for the three and six months ended September 30, 2021 and 2020 because including them would have had an anti-dilutive effect. Three months ended Six months ended 2021 2020 2021 2020 Redeemable convertible preferred stock as converted to common stock — 28,390,692 — 28,390,692 Stock options to purchase common stock 20,811,019 29,139,793 26,669,287 29,139,793 Restricted stock units — — 1,979,669 — Warrants to purchase common stock 13,036,333 2,044,705 13,036,333 2,044,705 Warrants to purchase preferred stock — 4,572 — 4,572 2025 convertible notes as converted to common stock 7,847,188 — 7,847,188 —

SEGMENTS (Tables)

SEGMENTS (Tables)6 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by SegmentKey financial performance measures of the segments including revenue, cost of revenue, and gross profit are as follows (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Direct to Consumer: Revenue $106,817 $75,368 $212,193 $142,468 Cost of revenue 42,499 29,052 83,319 53,168 Gross profit 64,318 46,316 128,874 89,300 Commerce: Revenue 13,345 11,045 25,575 18,753 Cost of revenue 7,777 5,807 14,772 9,579 Gross profit 5,568 5,238 10,803 9,174 Consolidated: Revenue 120,162 86,413 237,768 161,221 Cost of revenue 50,276 34,859 98,091 62,747 Gross profit $69,886 $51,554 $139,677 $98,474

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS - Narrative (Details)Sep. 30, 2021keyCategory
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of key categories4

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in ThousandsSep. 30, 2021Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability $ 4,883
Total $ 22,162 5,016
Public Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities14,413
Private Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities7,749
Preferred Stock Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities133
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability0
Total14,413 0
Level 1 | Public Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities14,413
Level 1 | Private Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities0
Level 1 | Preferred Stock Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability0
Total7,749 0
Level 2 | Public Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities0
Level 2 | Private Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities7,749
Level 2 | Preferred Stock Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability4,883
Total0 5,016
Level 3 | Public Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities0
Level 3 | Private Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities $ 0
Level 3 | Preferred Stock Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities $ 133

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Activity of Liabilities Measured at Fair Value on a Recurring Basis (Details) - Level 3 - Fair Value, Recurring $ in Thousands6 Months Ended
Sep. 30, 2021USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance $ 5,016
Change in fair value of preferred stock warrants664
Settlements(797)
Ending balance0
Convertible Promissory Notes - 2019 and 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Settlements $ (4,883)

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended12 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020Mar. 31, 2021Nov. 20, 2020
Concentration Risk [Line Items]
Warrants issued per share, percent0.3333
Restricted cash $ 2,278 $ 353 $ 2,278 $ 353 $ 1,500
Accounts Receivable | Customer Concentration Risk | Two Customers
Concentration Risk [Line Items]
Concentration risk, percentage51.00%
Accounts Receivable | Customer Concentration Risk | Three Customers
Concentration Risk [Line Items]
Concentration risk, percentage84.00%
Accounts Receivable | Segment Concentration Risk | Commerce
Concentration Risk [Line Items]
Concentration risk, percentage10.80%11.10%
Finished Goods | Supplier Concentration Risk | One Supplier
Concentration Risk [Line Items]
Concentration risk, percentage22.00%
Finished Goods | Supplier Concentration Risk | Two Suppliers
Concentration Risk [Line Items]
Concentration risk, percentage38.00%33.00%34.00%
Accounts Payable | Supplier Concentration Risk | One Supplier
Concentration Risk [Line Items]
Concentration risk, percentage15.00%
Accounts Payable | Supplier Concentration Risk | Two Suppliers
Concentration Risk [Line Items]
Concentration risk, percentage44.00%

MERGER - Merger Narrative (Deta

MERGER - Merger Narrative (Details) - USD ($)Jun. 01, 2021Sep. 30, 2021Mar. 31, 2021Nov. 27, 2020
Business Combination, Separately Recognized Transactions [Line Items]
Common stock, par value (USD per share) $ 0.0001 $ 0.0001 $ 0.0001
Reverse recapitalization, options converted (in shares)29,257,576
Reverse recapitalization, warrants converted (in shares)1,897,212
PIPE issuance (in shares)20,000,000
Sale of stock (USD per share) $ 10
PIPE issuance consideration $ 200,000,000
Exercise price of warrants (USD per share) $ 11.50
Common stock, shares authorized (in shares)500,000,000 500,000,000
Common Class B
Business Combination, Separately Recognized Transactions [Line Items]
Net equity infusion from the Merger (in shares)6,358,750
2025 Convertible Notes | Convertible Debt
Business Combination, Separately Recognized Transactions [Line Items]
Debt interest rate5.50%
Debt instrument, convertible, number of equity instruments (in shares)7,713,121

MERGER - Correction of Previous

MERGER - Correction of Previously Issued Consolidated Financial Statements Narrative (Details) - sharesJun. 01, 2021Sep. 30, 2021Jun. 30, 2021Mar. 31, 2021Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020
Business Combination, Separately Recognized Transactions [Line Items]
Common stock, shares issued (in shares)171,069,553
Common stock, shares outstanding (in shares)171,069,553
Common stock, shares authorized (in shares)500,000,000 500,000,000
Common Stock
Business Combination, Separately Recognized Transactions [Line Items]
Shares, Outstanding171,069,553 166,704,484 48,071,777 46,058,872 45,706,061 45,431,784
Retrospective Application Of Recapitalization Correction
Business Combination, Separately Recognized Transactions [Line Items]
Recapitalization exchange ratio (in shares)8.7425
Common stock, shares issued (in shares)48,071,777
Common stock, shares outstanding (in shares)48,071,777
Common stock, shares authorized (in shares)148,622,942
Retrospective Application Of Recapitalization Correction | Common Stock
Business Combination, Separately Recognized Transactions [Line Items]
Shares, Outstanding166,704,484 48,071,777 45,706,062 45,431,784
Previously Reported | Common Stock
Business Combination, Separately Recognized Transactions [Line Items]
Shares, Outstanding5,498,588 5,228,074 5,196,711
Previously Reported | Retrospective Application Of Recapitalization Correction | Common Stock
Business Combination, Separately Recognized Transactions [Line Items]
Common stock, shares authorized (in shares)17,000,000
Shares, Outstanding5,498,588 5,196,711

MERGER - Restated Condensed Con

MERGER - Restated Condensed Consolidated Balance (Details) - USD ($) $ / shares in Units, $ in ThousandsSep. 30, 2021Jun. 30, 2021Jun. 01, 2021Mar. 31, 2021Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Common stock, par value (USD per share) $ 0.0001 $ 0.0001 $ 0.0001
Common stock, par value $0.0001 per share $ 1 $ 0
Treasury stock, at cost0 0
Additional paid-in capital452,180 20,984
Accumulated deficit(198,302)(179,954)
Total stockholders’ equity (deficit) $ 253,879 $ 241,847 (158,970) $ (132,925) $ (132,761) $ (135,387)
Retrospective Application Of Recapitalization Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Common stock, par value $0.0001 per share0
Treasury stock, at cost0
Additional paid-in capital20,984
Accumulated deficit(179,954)
Total stockholders’ equity (deficit) $ 241,847 (158,970)(132,761)(135,387)
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total stockholders’ equity (deficit)(158,970) $ (132,761)(135,387)
Previously Reported | Retrospective Application Of Recapitalization Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Common stock, par value $0.0001 per share0
Treasury stock, at cost(4,764)
Additional paid-in capital25,748
Accumulated deficit(179,954)
Total stockholders’ equity (deficit)(158,970) $ (135,387)
Revision of Prior Period, Error Correction, Adjustment | Retrospective Application Of Recapitalization Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Common stock, par value $0.0001 per share0
Treasury stock, at cost4,764
Additional paid-in capital(4,764)
Accumulated deficit0
Total stockholders’ equity (deficit) $ 0

MERGER - Restated Condensed C_2

MERGER - Restated Condensed Consolidated Statement of Stockholders’ Equity (Details) - USD ($) $ in ThousandsJun. 01, 2021Sep. 30, 2021Jun. 30, 2021Sep. 30, 2020Jun. 30, 2020Sep. 30, 2021Sep. 30, 2020Mar. 31, 2021Mar. 31, 2020
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible preferred stock, shares outstanding (in shares)0 0 7,752,515 7,752,515 0 7,752,515 7,752,515 7,752,515
Convertible Redeemable Preferred Stock, beginning balance $ 0 $ 59,987 $ 59,987 $ 59,987 $ 59,987 $ 59,987
Conversion of Preferred Shares (in shares)(7,752,515)
Conversion of Preferred Stock $ (59,987)
Convertible Redeemable Preferred Stock, ending balance (in shares)0 0 7,752,515 7,752,515 0 7,752,515
Convertible Redeemable Preferred Stock, ending balance $ 0 $ 0 $ 59,987 $ 59,987 $ 0 $ 59,987
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance241,847 (158,970)(132,761)(135,387)(158,970)(135,387)
Net income (loss)6,455 (1,378)(18,349)638
Issuance for stock options exercised934 139 1,131 361
Issuance for warrants exercised915 1,019
Stock-based compensation3,729 601 6,827 989
Conversion of Preferred Stock59,987
Conversion of Convertible Notes11,976
PIPE Issuance200,000
Net equity infusion from the Merger150,257
Cumulative translation adjustment(1)1
Ending balance253,879 $ 241,847 (132,925) $ (132,761)253,879 (132,925)
Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible preferred stock, shares outstanding (in shares)0 7,752,515 7,752,515 7,752,515
Convertible Redeemable Preferred Stock, beginning balance0 $ 59,987 59,987 $ 59,987 59,987 59,987
Conversion of Preferred Shares (in shares)(7,752,515)
Conversion of Preferred Stock $ (59,987)
Convertible Redeemable Preferred Stock, ending balance (in shares)0 7,752,515
Convertible Redeemable Preferred Stock, ending balance $ 0 $ 59,987
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance $ 241,847 (158,970) $ (132,761)(135,387) $ (158,970) $ (135,387)
Net income (loss)(24,804)2,016
Issuance for stock options exercised197 222
Issuance for warrants exercised104
Stock-based compensation3,098 388
Conversion of Preferred Stock59,987
Conversion of Convertible Notes11,976
PIPE Issuance200,000
Net equity infusion from the Merger150,257
Cumulative translation adjustment2
Ending balance $ 241,847 $ (132,761)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)166,704,484 48,071,777 45,706,061 45,431,784 48,071,777 45,431,784
Beginning balance $ 1 $ 0 $ 0 $ 0 $ 0 $ 0
Issuance for stock options exercised (in shares)2,657,749 137,808 3,082,133 412,085
Issuance for warrants exercised (in shares)1,700,468 1,931,621
Conversion of Preferred Shares (in shares)7,752,515
Conversion of Convertible Notes (in shares)1,135,713 1,135,713
PIPE Issuance (in shares)20,000,000
Net equity infusion from the Merger (in shares)89,088,942
Net equity infusion from the Merger $ 1
Shares outstanding, ending balance (in shares)171,069,553 166,704,484 46,058,872 45,706,061 171,069,553 46,058,872
Ending balance $ 1 $ 1 $ 0 $ 0 $ 1 $ 0
Common Stock | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)166,704,484 48,071,777 45,706,062 45,431,784 48,071,777 45,431,784
Beginning balance $ 1 $ 0 $ 0 $ 0 $ 0 $ 0
Issuance for stock options exercised (in shares)424,384 274,278
Issuance for warrants exercised (in shares)231,153
Conversion of Preferred Shares (in shares)7,752,515
Conversion of Convertible Notes (in shares)1,135,713
PIPE Issuance (in shares)20,000,000
Net equity infusion from the Merger (in shares)89,088,942
Net equity infusion from the Merger $ 1
Shares outstanding, ending balance (in shares)166,704,484 45,706,062
Ending balance $ 1 $ 0
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)0 0 0 0 0 0
Beginning balance $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
Shares outstanding, ending balance (in shares)0 0 0 0 0 0
Ending balance $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
Treasury Stock | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)0 0 0 0 0 0
Beginning balance $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
Shares outstanding, ending balance (in shares)0 0
Ending balance $ 0 $ 0
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance446,602 20,984 13,786 13,176 20,984 13,176
Issuance for stock options exercised934 139 1,131 361
Issuance for warrants exercised915 1,019
Stock-based compensation3,729 601 6,827 989
Conversion of Preferred Stock59,987
Conversion of Convertible Notes11,976
PIPE Issuance200,000
Net equity infusion from the Merger150,256
Ending balance452,180 446,602 15,000 13,786 452,180 15,000
Additional Paid-in Capital | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance446,602 20,984 13,786 13,176 20,984 13,176
Issuance for stock options exercised197 222
Issuance for warrants exercised104
Stock-based compensation3,098 388
Conversion of Preferred Stock59,987
Conversion of Convertible Notes11,976
PIPE Issuance200,000
Net equity infusion from the Merger150,256
Ending balance446,602 13,786
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(204,756)(179,954)(146,547)(148,563)(179,954)(148,563)
Net income (loss)6,455 (1,378)(18,349)638
Cumulative translation adjustment(1)1
Ending balance(198,302)(204,756)(147,925)(146,547)(198,302)(147,925)
Accumulated Deficit | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance $ (204,756)(179,954)(146,547)(148,563)(179,954)(148,563)
Net income (loss)(24,804)2,016
Cumulative translation adjustment2
Ending balance(204,756) $ (146,547)
Previously Reported
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible preferred stock, shares outstanding (in shares)7,752,515 7,752,515 7,752,515
Convertible Redeemable Preferred Stock, beginning balance59,987 59,987 $ 59,987 59,987 59,987
Convertible Redeemable Preferred Stock, ending balance (in shares)7,752,515
Convertible Redeemable Preferred Stock, ending balance $ 59,987
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(158,970) $ (132,761)(135,387)(158,970)(135,387)
Ending balance(132,761)
Previously Reported | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible preferred stock, shares outstanding (in shares)7,752,515 7,752,515
Convertible Redeemable Preferred Stock, beginning balance59,987 59,987 59,987 59,987
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance $ (158,970)(135,387) $ (158,970) $ (135,387)
Net income (loss) $ 2,016
Previously Reported | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)5,498,588 5,228,074 5,196,711 5,498,588 5,196,711
Beginning balance $ 0 $ 0 $ 0 $ 0 $ 0
Shares outstanding, ending balance (in shares)5,228,074
Ending balance $ 0
Previously Reported | Common Stock | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)5,498,588 5,196,711 5,498,588 5,196,711
Beginning balance $ 0 $ 0 $ 0 $ 0
Issuance for stock options exercised (in shares)31,363
Net equity infusion from the Merger (in shares)131,662,131
Previously Reported | Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)(259,953)(259,953)(259,953)(259,953)(259,953)
Beginning balance $ (4,764) $ (4,755) $ (4,755) $ (4,764) $ (4,755)
Shares outstanding, ending balance (in shares)(259,953)
Ending balance $ (4,755)
Previously Reported | Treasury Stock | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)(259,953)(259,953)(259,953)(259,953)
Beginning balance $ (4,764) $ (4,755) $ (4,764) $ (4,755)
Previously Reported | Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance25,748 18,541 17,931 25,748 17,931
Ending balance18,541
Previously Reported | Additional Paid-in Capital | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance25,748 17,931 25,748 17,931
Net equity infusion from the Merger145,500
Previously Reported | Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(179,954)(146,547)(148,563)(179,954)(148,563)
Ending balance(146,547)
Previously Reported | Accumulated Deficit | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(179,954)(148,563)(179,954)(148,563)
Revision of Prior Period, Reclassification, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance0 $ 0 0 0 0
Ending balance0
Revision of Prior Period, Reclassification, Adjustment | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance $ 0 $ 0 $ 0 $ 0
Revision of Prior Period, Reclassification, Adjustment | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)42,573,189 40,477,987 40,235,073 42,573,189 40,235,073
Shares outstanding, ending balance (in shares)40,477,987
Revision of Prior Period, Reclassification, Adjustment | Common Stock | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)42,573,189 40,235,073 42,573,189 40,235,073
Revision of Prior Period, Reclassification, Adjustment | Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)259,953 259,953 259,953 259,953 259,953
Beginning balance $ 4,764 $ 4,755 $ 4,755 $ 4,764 $ 4,755
Shares outstanding, ending balance (in shares)259,953
Ending balance $ 4,755
Revision of Prior Period, Reclassification, Adjustment | Treasury Stock | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)259,953 259,953 259,953 259,953
Beginning balance $ 4,764 $ 4,755 $ 4,764 $ 4,755
Treasury stock cancelled and extinguished4,800
Revision of Prior Period, Reclassification, Adjustment | Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(4,764) $ (4,755)(4,755)(4,764)(4,755)
Ending balance(4,755)
Revision of Prior Period, Reclassification, Adjustment | Additional Paid-in Capital | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance $ (4,764) $ (4,755) $ (4,764) $ (4,755)

MERGER - Restated Basic and Dil

MERGER - Restated Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended6 Months Ended
Sep. 30, 2021Jun. 30, 2021Sep. 30, 2020Jun. 30, 2020Sep. 30, 2021Sep. 30, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss) $ 6,455 $ (1,378) $ (18,349) $ 638
Less: Earnings attributable to participating securities0 0 0 (638)
Less: Earnings attributable to participating securities0 0 0 (638)
Net loss attributable to common stockholders - diluted6,455 (1,378)(18,349)0
Net loss attributable to common stockholders - basic $ 6,455 $ (1,378) $ (18,349) $ 0
Weighted-average common shares used to computed net income (loss) per share attributable to common stockholders - basic (in shares)169,173,509 45,889,103 139,133,082 45,704,365
Effect of potentially dilutive stock options to purchase common stock (in shares)5,858,268 0 0 0
Weighted-average common shares used to compute net income (loss) per share attributable to common stockholders - diluted (in shares)177,011,446 45,889,103 139,133,082 45,704,365
Net income (loss) per common share attributable to common stockholders - basic (USD per share) $ 0.04 $ (0.03) $ (0.13) $ 0
Net income (loss) per common share attributable to common stockholders - diluted (USD per share) $ 0.04 $ (0.03) $ (0.13) $ 0
Retrospective Application Of Recapitalization Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss) $ (24,804) $ 2,016
Less: Earnings attributable to participating securities(1,583)
Less: Earnings attributable to participating securities(1,583)
Net loss attributable to common stockholders - diluted433
Net loss attributable to common stockholders - basic $ 433
Weighted-average common shares used to computed net income (loss) per share attributable to common stockholders - basic (in shares)45,517,911
Effect of potentially dilutive preferred stock (in shares)29,139,993
Effect of potentially dilutive stock options to purchase common stock (in shares)8,497,069
Effect of potentially dilutive warrants to purchase common stock (in shares)649,939
Effect of potentially dilutive warrants to purchase preferred stock (in shares)4,572
Weighted-average common shares used to compute net income (loss) per share attributable to common stockholders - diluted (in shares)83,809,484
Net income (loss) per common share attributable to common stockholders - basic (USD per share) $ 0.01
Net income (loss) per common share attributable to common stockholders - diluted (USD per share) $ 0.01
Previously Reported | Retrospective Application Of Recapitalization Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss) $ 2,016
Less: Earnings attributable to participating securities(1,583)
Less: Earnings attributable to participating securities(1,583)
Net loss attributable to common stockholders - diluted433
Net loss attributable to common stockholders - basic $ 433
Weighted-average common shares used to computed net income (loss) per share attributable to common stockholders - basic (in shares)5,206,474
Effect of potentially dilutive preferred stock (in shares)3,333,119
Effect of potentially dilutive stock options to purchase common stock (in shares)971,920
Effect of potentially dilutive warrants to purchase common stock (in shares)74,342
Effect of potentially dilutive warrants to purchase preferred stock (in shares)523
Weighted-average common shares used to compute net income (loss) per share attributable to common stockholders - diluted (in shares)9,586,378
Net income (loss) per common share attributable to common stockholders - basic (USD per share) $ 0.08
Net income (loss) per common share attributable to common stockholders - diluted (USD per share) $ 0.05
Revision of Prior Period, Error Correction, Adjustment | Retrospective Application Of Recapitalization Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss) $ 0
Less: Earnings attributable to participating securities0
Less: Earnings attributable to participating securities0
Net loss attributable to common stockholders - diluted0
Net loss attributable to common stockholders - basic $ 0
Weighted-average common shares used to computed net income (loss) per share attributable to common stockholders - basic (in shares)40,311,437
Effect of potentially dilutive preferred stock (in shares)25,806,874
Effect of potentially dilutive stock options to purchase common stock (in shares)7,525,149
Effect of potentially dilutive warrants to purchase common stock (in shares)575,597
Effect of potentially dilutive warrants to purchase preferred stock (in shares)4,049
Weighted-average common shares used to compute net income (loss) per share attributable to common stockholders - diluted (in shares)74,223,106
Net income (loss) per common share attributable to common stockholders - basic (USD per share) $ (0.07)
Net income (loss) per common share attributable to common stockholders - diluted (USD per share) $ (0.04)

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Disaggregated Revenue (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue $ 120,162 $ 86,413 $ 237,768 $ 161,221
Direct to Consumer:
Disaggregation of Revenue [Line Items]
Revenue106,817 75,368 212,193 142,468
Commerce
Disaggregation of Revenue [Line Items]
Revenue13,345 11,045 25,575 18,753
Toys and treats subscription | Direct to Consumer:
Disaggregation of Revenue [Line Items]
Revenue103,985 73,949 207,074 139,557
Other | Direct to Consumer:
Disaggregation of Revenue [Line Items]
Revenue $ 2,832 $ 1,419 $ 5,119 $ 2,911

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Thousands6 Months Ended
Sep. 30, 2021Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Contractual liabilities included in deferred revenue $ 28,398 $ 27,177
Contractual liabilities included in deferred revenue, revenue recognized $ 16,800

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($) $ in ThousandsSep. 30, 2021Mar. 31, 2021
Debt Instrument [Line Items]
Long-term debt, gross $ 75,000 $ 121,624
Less: deferred financing fees and debt discount(3,265)(5,895)
Total long-term debt71,735 115,729
Convertible Debt | 2025 Convertible Notes
Debt Instrument [Line Items]
Long-term debt, gross75,000 75,000
Convertible Debt | Convertible promissory notes
Debt Instrument [Line Items]
Long-term debt, gross0 7,167
Total long-term debt7,200
Line of Credit and Term Loan | Western Alliance revolving line of credit & term loan
Debt Instrument [Line Items]
Long-term debt, gross0 34,300
Loans Payable | PPP loan
Debt Instrument [Line Items]
Long-term debt, gross $ 0 $ 5,157

DEBT - Western Alliance Bank -

DEBT - Western Alliance Bank - Line of Credit and Term Loan Narrative (Details) - USD ($)Jan. 22, 2021Nov. 27, 2020Sep. 30, 2021Sep. 30, 2020Mar. 31, 2021Dec. 07, 2018Oct. 31, 2017
Debt Instrument [Line Items]
Payments of long-term debt $ 39,457,000 $ 0
Total long-term debt71,735,000 $ 115,729,000
Line of Credit | Western Alliance Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity $ 35,000,000
Debt instrument, interest rate floor0.50%
Borrowing base, percentage80.00%
Total long-term debt0 $ 34,300,000
Line of credit facility, remaining borrowing capacity $ 35,000,000
Line of Credit | Western Alliance Agreement | Revolving Credit Facility | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate5.25%
Term Loan | Western Alliance Agreement
Debt Instrument [Line Items]
Debt instrument, face amount $ 10,000,000
Payments of long-term debt $ 10,000,000
Extinguishment of debt, early repayment fee $ 200,000
Incremental Seasonal Loan | Western Alliance Agreement
Debt Instrument [Line Items]
Debt instrument, face amount $ 5,000,000

DEBT - Convertible Promissory N

DEBT - Convertible Promissory Notes Narrative (Details)Jun. 01, 2021USD ($)sharesMay 01, 2020USD ($)Mar. 31, 2020USD ($)Dec. 31, 2019USD ($)debtClosingSep. 30, 2021USD ($)Sep. 30, 2020USD ($)Sep. 30, 2021USD ($)sharesSep. 30, 2020USD ($)Mar. 31, 2021USD ($)Jun. 18, 2020USD ($)Dec. 19, 2019USD ($)
Debt Instrument [Line Items]
Proceeds from convertible notes $ 0 $ 1,000,000
Total long-term debt $ 71,735,000 71,735,000 $ 115,729,000
Loss on extinguishment of debt $ 0 $ 0 $ 2,598,000 $ 0
Common Stock
Debt Instrument [Line Items]
Debt instrument, convertible, value of equity instruments $ 12,800,000
Conversion of preferred shares (in shares) | shares1,135,713 1,135,713
Convertible Debt | Convertible promissory notes
Debt Instrument [Line Items]
Total long-term debt $ 7,200,000
Loss on extinguishment of debt $ 2,600,000
Equity component of convertible debt $ 700,000
Convertible Debt | Convertible Promissory Notes - 2019
Debt Instrument [Line Items]
Debt instrument, face amount (up to) $ 10,000,000
Proceeds from convertible notes $ 3,900,000
Number of debt closings | debtClosing2
Debt interest rate7.00%
Convertible Debt | Convertible Promissory Notes - 2020
Debt Instrument [Line Items]
Debt instrument, face amount (up to) $ 10,000,000 $ 800,000
Proceeds from convertible notes $ 1,000,000 $ 1,500,000
Convertible Debt | Convertible Promissory Notes - 2020, Super Pro Rata Notes
Debt Instrument [Line Items]
Debt interest rate10.00%
Convertible Debt | Convertible Promissory Notes - 2020, Pro Rata Notes
Debt Instrument [Line Items]
Debt interest rate8.00%

DEBT - Paycheck Protection Plan

DEBT - Paycheck Protection Plan Program (Details) - USD ($) $ in ThousandsApr. 24, 2020Sep. 30, 2021Sep. 30, 2020
Debt Instrument [Line Items]
Proceeds from debt $ 0 $ 5,157
PPP loan | Loans Payable
Debt Instrument [Line Items]
Proceeds from debt $ 5,200

DEBT - 2025 Convertible Notes N

DEBT - 2025 Convertible Notes Narrative (Details) - USD ($)Nov. 27, 2020Sep. 30, 2021Sep. 30, 2020Mar. 31, 2021
Debt Instrument [Line Items]
Proceeds from convertible notes $ 0 $ 1,000,000
Payments of debt issuance costs622,000 256,000
Payments of long-term debt39,457,000 $ 0
2025 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face amount $ 75,000,000
Proceeds from convertible notes74,700,000
Payments of debt issuance costs300,000
Debt instrument, additional principal amount available for issuance $ 25,000,000
Debt interest rate5.50%
Debt instrument, debt default, interest rate increase3.00%
Convertible debt $ 75,000,000 $ 75,000,000
Amended Western Alliance Agreement and Pinnacle Agreement | Term Loan
Debt Instrument [Line Items]
Payments of long-term debt $ 27,600,000
Pinnacle Term Loan | Term Loan
Debt Instrument [Line Items]
Debt early repayment fees $ 2,000,000

REDEEMABLE CONVERTIBLE PREFER_3

REDEEMABLE CONVERTIBLE PREFERRED STOCK - Issued and Outstanding Redeemable Convertible Preferred Stock (Details) - USD ($) $ in ThousandsSep. 30, 2021Jun. 30, 2021May 30, 2021Mar. 31, 2021Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020
Preferred Units [Line Items]
Convertible preferred stock, shares outstanding (in shares)0 0 7,752,515 7,752,515 7,752,515 7,752,515
Redeemable convertible preferred stock $ 0 $ 0 $ 59,987 $ 59,987 $ 59,987 $ 59,987
Series Seed
Preferred Units [Line Items]
Convertible preferred stock, shares issued (in shares)2,057,188 2,057,188
Convertible preferred stock, shares outstanding (in shares)2,057,188 2,057,188
Redeemable convertible preferred stock $ 1,897 $ 1,897
Series A
Preferred Units [Line Items]
Convertible preferred stock, shares issued (in shares)2,110,400 2,110,400
Convertible preferred stock, shares outstanding (in shares)2,110,400 2,110,400
Redeemable convertible preferred stock $ 4,948 $ 4,948
Series B
Preferred Units [Line Items]
Convertible preferred stock, shares issued (in shares)990,068 990,068
Convertible preferred stock, shares outstanding (in shares)990,068 990,068
Redeemable convertible preferred stock $ 10,285 $ 10,285
Series C
Preferred Units [Line Items]
Convertible preferred stock, shares issued (in shares)2,142,188 2,142,188
Convertible preferred stock, shares outstanding (in shares)2,142,188 2,142,188
Redeemable convertible preferred stock $ 34,585 $ 34,585
Series C-1
Preferred Units [Line Items]
Convertible preferred stock, shares issued (in shares)452,671 452,671
Convertible preferred stock, shares outstanding (in shares)452,671 452,671
Redeemable convertible preferred stock $ 8,272 $ 8,272

REDEEMABLE CONVERTIBLE PREFER_4

REDEEMABLE CONVERTIBLE PREFERRED STOCK - Narrative (Details) - sharesSep. 30, 2021Jun. 30, 2021Jun. 01, 2021Mar. 31, 2021Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020
Preferred Units [Line Items]
Convertible preferred stock, converted into common stock (in shares)67,776,888
Convertible preferred stock, shares authorized (in shares)0 8,010,560
Convertible preferred stock, shares outstanding (in shares)0 0 7,752,515 7,752,515 7,752,515 7,752,515
Convertible Redeemable Preferred Stock
Preferred Units [Line Items]
Convertible preferred stock, shares authorized (in shares)0
Convertible preferred stock, shares outstanding (in shares)0

STOCK-BASED COMPENSTION PLANS -

STOCK-BASED COMPENSTION PLANS - Equity Incentive Plans Narrative (Details) - sharesJun. 01, 2021Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reverse recapitalization, options converted (in shares)29,257,576
Minimum exercise price, percentage of common share grant date fair value100.00%
First Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage25.00%
One Thirty-Sixth on a Monthly Basis
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage75.00%
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period10 years
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)16,929,505
Number of shares available for grant (in shares)14,487,001
Maximum annual increase in shares , percentage of shares issued and outstanding5.00%
2011 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reverse recapitalization, options converted (in shares)29,390,344
Number of shares available for grant (in shares)0

STOCK-BASED COMPENSTION PLANS_2

STOCK-BASED COMPENSTION PLANS - Stock Option & RSU Activity Narrative (Details)6 Months Ended
Sep. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)1,127,886
Weighted average exercise price (USD per share) | $ / shares $ 9.02
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)1,979,669
Award vesting period4 years
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period4 years

STOCK-BASED COMPENSTION PLANS_3

STOCK-BASED COMPENSTION PLANS - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense $ 3,729 $ 1,004 $ 6,827 $ 1,392
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense1,501 961 2,398 1,321
Advertising and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense $ 2,228 $ 43 $ 4,428 $ 71

STOCK-BASED COMPENSTION PLANS_4

STOCK-BASED COMPENSTION PLANS - Employee Stock Purchase Plan Narrative (Details) - Employee Stock1 Months Ended
Jun. 30, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)3,385,901
Maximum annual increase in shares , percentage of shares issued and outstanding1.00%
Number of shares authorized, maximum annual increase, number of shares (in shares)1,500,000

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)3 Months Ended6 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Income Tax Disclosure [Abstract]
Federal, state, or foreign income tax provision (benefit) $ 0 $ 0 $ 0 $ 0

OTHER INCOME - NET - Schedule o

OTHER INCOME - NET - Schedule of Other Income - Net (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Other income—net:
Other income $ 71 $ (18) $ 183 $ 169
Change in fair value of warrants23,407 (16)19,508 (16)
Change in fair value of derivative liability0 1,245 0 1,279
Loss on extinguishment of debt0 0 (2,598)0
Loss on warrant exercise(303)0 (303)0
Other income - net $ 23,175 $ 1,211 $ 16,790 $ 1,432

NET INCOME (LOSS) PER SHARE - C

NET INCOME (LOSS) PER SHARE - Calculation of Basic and Diluted Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended6 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Numerator [Abstract]
Net income (loss) $ 6,455 $ (1,378) $ (18,349) $ 638
Less: Earnings attributable to participating securities0 0 0 (638)
Less: Earnings attributable to participating securities0 0 0 638
Net loss attributable to common stockholders - basic6,455 (1,378)(18,349)0
Net loss attributable to common stockholders - diluted $ 6,455 $ (1,378) $ (18,349) $ 0
Denominator [Abstract]
Weighted-average number of common shares outstanding—basic (in shares)169,173,509 45,889,103 139,133,082 45,704,365
Weighted average effect of potentially dilutive securities:
Effect of potentially dilutive stock options to purchase common stock (in shares)5,858,268 0 0 0
Effect of potentially dilutive restricted stock units (in shares)1,979,669 0 0 0
Weighted-average number of common shares outstanding—diluted (in shares)177,011,446 45,889,103 139,133,082 45,704,365
Net income (loss) per share attributable to common stockholders
Net income (loss) per common share attributable to common stockholders - basic (USD per share) $ 0.04 $ (0.03) $ (0.13) $ 0
Net income (loss) per common share attributable to common stockholders - diluted (USD per share) $ 0.04 $ (0.03) $ (0.13) $ 0

NET INCOME (LOSS) PER SHARE - S

NET INCOME (LOSS) PER SHARE - Schedule of Antidilutive Securities Excluded from Computation of Net Loss per Share (Details) - shares3 Months Ended6 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share (in shares)
Redeemable convertible preferred stock as converted to common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share (in shares)0 28,390,692 0 28,390,692
Stock options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share (in shares)20,811,019 29,139,793 26,669,287 29,139,793
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share (in shares)0 0 1,979,669 0
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share (in shares)13,036,333 2,044,705 13,036,333 2,044,705
Warrants to purchase preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share (in shares)0 4,572 0 4,572
2025 convertible notes as converted to common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of loss per share (in shares)7,847,188 0 7,847,188 0

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details)6 Months Ended
Sep. 30, 2021segment
Segment Reporting [Abstract]
Number of reportable segments2

SEGMENTS - Schedule of Gross Pr

SEGMENTS - Schedule of Gross Profit by Segment (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue $ 120,162 $ 86,413 $ 237,768 $ 161,221
Cost of revenue50,276 34,859 98,091 62,747
Gross profit69,886 51,554 139,677 98,474
Direct to Consumer:
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue106,817 75,368 212,193 142,468
Cost of revenue42,499 29,052 83,319 53,168
Gross profit64,318 46,316 128,874 89,300
Commerce
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue13,345 11,045 25,575 18,753
Cost of revenue7,777 5,807 14,772 9,579
Gross profit $ 5,568 $ 5,238 $ 10,803 $ 9,174

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent EventOct. 29, 2021USD ($)
Subsequent Event [Line Items]
Lease term198 months
Future minimum lease payments $ 51,700,000
Letter of Credit
Subsequent Event [Line Items]
Proceeds from lines of credit1,900,000
Revolving Credit Facility | Western Alliance Agreement | Letter of Credit
Subsequent Event [Line Items]
Maximum borrowing capacity $ 2,700,000