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BARK (BARK)

Cover

Cover - shares9 Months Ended
Dec. 31, 2021Feb. 04, 2022
Document Information [Line Items]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateDec. 31,
2021
Document Transition Reportfalse
Entity File Number001-39691
Entity Registrant NameBARK, INC.
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 Information, Former Legal or Registered NameThe Original BARK Company, Inc.
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)173,591,193
Central Index Key0001819574
Document Fiscal Period FocusQ3
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 ThousandsDec. 31, 2021Mar. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents $ 228,692 $ 38,278
Accounts receivable—net20,251 8,927
Prepaid expenses and other current assets5,035 7,409
Inventory150,690 77,454
Total current assets404,668 132,068
PROPERTY AND EQUIPMENT—NET26,253 13,465
INTANGIBLE ASSETS—NET3,480 2,070
OTHER NONCURRENT ASSETS4,400 3,260
TOTAL ASSETS438,801 150,863
CURRENT LIABILITIES:
Accounts payable21,383 50,501
Accrued and other current liabilities52,649 44,605
Deferred revenue36,210 27,177
Total current liabilities110,242 122,283
LONG-TERM DEBT76,032 115,729
OTHER LONG-TERM LIABILITIES5,829 11,834
Total liabilities192,103 249,846
COMMITMENTS AND CONTINGENCIES
Convertible preferred stock, shares issued (in shares)0 7,752,515
REDEEMABLE CONVERTIBLE PREFERRED STOCK:
Redeemable convertible preferred stock $ 0 $ 59,987
STOCKHOLDERS’ EQUITY (DEFICIT):
Common stock, par value $0.0001 per share—500,000,000 shares authorized; 173,495,873 shares issued and outstanding as of December 31, 2021 and 148,622,942 shares authorized; 48,071,777 shares issued and outstanding as of March 31, 2021.1 0
Treasury stock, at cost; after recapitalization there are no treasury shares issued or outstanding as of December 31, 2021 or March 31, 20210 0
Additional paid-in capital458,239 20,984
Accumulated deficit(211,542)(179,954)
Total stockholders’ equity (deficit)246,698 (158,970)
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)438,801 150,863
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 ($)Dec. 31, 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 issued (in shares)0 7,752,515
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)500,000,000 148,622,942
Common stock, shares issued (in shares)173,495,873 48,071,777
Common stock, shares outstanding (in shares)173,495,873 48,071,777

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)3 Months Ended9 Months Ended
Dec. 31, 2021Dec. 31, 2020Dec. 31, 2021Dec. 31, 2020
Income Statement [Abstract]
REVENUE $ 140,812,000 $ 105,175,000 $ 378,580,000 $ 266,396,000
COST OF REVENUE62,403,000 45,674,000 160,493,000 108,421,000
Gross profit78,409,000 59,501,000 218,087,000 157,975,000
OPERATING EXPENSES:
General and administrative78,636,000 52,566,000 216,369,000 123,882,000
Advertising and marketing26,828,000 26,250,000 61,053,000 50,782,000
Total operating expenses105,464,000 78,816,000 277,422,000 174,664,000
LOSS FROM OPERATIONS(27,055,000)(19,315,000)(59,335,000)(16,689,000)
INTEREST EXPENSE(1,284,000)(4,961,000)(4,141,000)(8,381,000)
OTHER INCOME (EXPENSE)—NET15,098,000 (696,000)31,887,000 736,000
NET LOSS BEFORE INCOME TAXES(13,241,000)(24,972,000)(31,589,000)(24,334,000)
PROVISION FOR INCOME TAXES0 0 0 0
NET LOSS AND COMPREHENSIVE LOSS(13,241,000)(24,972,000)(31,589,000)(24,334,000)
NET LOSS AND COMPREHENSIVE LOSS $ (13,241,000) $ (24,972,000) $ (31,589,000) $ (24,334,000)
Net loss per common share attributable to common stockholders - basic (USD per share) $ (0.08) $ (0.54) $ (0.21) $ (0.53)
Net loss common per share attributable to common stockholders - diluted (USD per share) $ (0.08) $ (0.54) $ (0.21) $ (0.53)
Weighted-average number of common shares outstanding - basic (in shares)172,554,101 46,192,869 150,313,932 45,867,792
Weighted-average common shares outstanding - diluted (in shares)172,554,101 46,192,869 150,313,932 45,867,792

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
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)
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 Dec. 31, 20207,752,515
Convertible Redeemable Preferred Stock, ending balance at Dec. 31, 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 loss(24,334)(24,334)
Issuance for stock options exercised (in shares)788,438
Issuance for stock options exercised709 709
Restricted shares vesting (in shares)218,632
Restricted shares vesting1,009 1,009
Stock-based compensation3,117 3,117
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 Dec. 31, 202046,435,225 0
Ending balance at Dec. 31, 2020 $ (154,815) $ 0 $ 0 18,082 (172,897)
Convertible Redeemable Preferred stock, beginning balance (in shares) at Sep. 30, 20207,752,515 7,752,515
Convertible Redeemable Preferred Stock, beginning balance at Sep. 30, 2020 $ 59,987 $ 59,987
Convertible Redeemable Preferred Stock, ending balance (in shares) at Dec. 31, 20207,752,515
Convertible Redeemable Preferred Stock, ending balance at Dec. 31, 2020 $ 59,987
Shares outstanding, beginning balance (in shares) at Sep. 30, 202046,058,871 5,268,417 40,790,454 0 (259,953)259,953
Beginning balance at Sep. 30, 2020(132,925) $ (132,925)0 $ 0 $ 0 $ 0 $ (4,764) $ 4,764 15,000 19,764 (4,764)(147,925)(147,925)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss(24,972)(24,972)
Issuance for stock options exercised (in shares)376,354
Issuance for stock options exercised348 348
Restricted shares vesting (in shares)0
Restricted shares vesting605 605
Stock-based compensation2,129 2,129
Shares outstanding, ending balance (in shares) at Dec. 31, 202046,435,225 0
Ending balance at Dec. 31, 2020 $ (154,815) $ 0 $ 0 18,082 (172,897)
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
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)
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 Dec. 31, 20210
Convertible Redeemable Preferred Stock, ending balance at Dec. 31, 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 loss(31,589)(31,589)
Issuance for stock options exercised (in shares)5,508,181
Issuance for stock options exercised2,829 2,829
Issuance for warrants exercised (in shares)1,931,621
Issuance for warrants exercised1,019 1,019
Restricted shares vesting (in shares)7,124
Conversion of Preferred Stock (in shares)7,752,515
Conversion of Preferred Stock59,987 59,987
Conversion of Convertible Notes (in shares)1,135,713
Conversion of Convertible Notes12,128 12,128
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 compensation11,036 11,036
Cumulative translation adjustment1 1
Modification of a warrant0
Shares outstanding, ending balance (in shares) at Dec. 31, 2021173,495,873 0
Ending balance at Dec. 31, 2021 $ 246,698 $ 1 $ 0 458,239 (211,542)
Convertible Redeemable Preferred stock, beginning balance (in shares) at Sep. 30, 20210
Convertible Redeemable Preferred Stock, beginning balance at Sep. 30, 2021 $ 0
Convertible Redeemable Preferred Stock, ending balance (in shares) at Dec. 31, 20210
Convertible Redeemable Preferred Stock, ending balance at Dec. 31, 2021 $ 0
Shares outstanding, beginning balance (in shares) at Sep. 30, 2021171,069,553 0
Beginning balance at Sep. 30, 2021253,879 $ 1 $ 0 452,180 (198,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss(13,241)(13,241)
Issuance for stock options exercised (in shares)2,426,047
Issuance for stock options exercised1,698 1,698
Restricted shares vesting (in shares)273
Conversion of Convertible Notes152 152
Stock-based compensation4,209 4,209
Cumulative translation adjustment1 1
Shares outstanding, ending balance (in shares) at Dec. 31, 2021173,495,873 0
Ending balance at Dec. 31, 2021 $ 246,698 $ 1 $ 0 $ 458,239 $ (211,542)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands9 Months Ended
Dec. 31, 2021Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (31,589) $ (24,334)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation & amortization2,924 1,697
Amortization of deferred financing fees and debt discount671 2,722
Bad debt expense0 52
Stock-based compensation expense11,036 4,126
Loss on extinguishment of debt2,024 0
Loss on exercise of equity classified warrants303 0
Change in fair value of warrant liabilities and derivatives(38,861)336
Paid in kind interest on convertible notes4,171 0
Accounts receivable(11,306)(5,672)
Inventory(73,236)(32,652)
Prepaid expenses and other current assets(425)(2,637)
Other assets(314)0
Accounts payable and accrued expenses(12,290)17,203
Deferred revenue9,033 16,731
Other liabilities(8,678)13,671
Net cash used in operating activities(146,537)(8,757)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures(17,605)(4,017)
Net cash used in investing activities(17,605)(4,017)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of finance fees(641)(614)
Payments of transaction costs(25,233)(121)
Payment of deferred underwriting fees(8,902)0
Payment of capital lease obligations(427)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 options2,829 709
Proceeds from the exercise of warrants121 0
Proceeds from convertible notes0 75,750
Proceeds from debt0 5,157
Payments to repurchase common stock0 (9)
Payments of long-term debt(39,457)(25,250)
Net cash provided by financing activities355,382 55,622
Effect of exchange rate changes on cash1 0
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH191,240 42,848
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—BEGINNING OF PERIOD39,731 9,676
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD230,972 52,524
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Cash and cash equivalents228,692 51,896
Restricted cash—Prepaid expenses and other current assets2,280 628
Total cash, cash equivalents and restricted cash230,972 52,524
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Purchases of property and equipment included in accounts payable and accrued liabilities483 56
Cash paid for interest776 4,654
Cash paid for sales tax28,478 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Conversion of preferred stock to common stock59,987 0
Capital contribution related to extinguishment of debt536 0
Issuance of common stock related to cashless exercise of liability classified warrants595 0
Non-cash deferred issuance costs0 3,000
Non-cash deferred transaction costs0 922
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 notes13,367 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 BUSINESS9 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESSORGANIZATION AND DESCRIPTION OF BUSINESS BARK, Inc. (the “Company”), a Delaware corporation formerly known as The Original BARK Company and, prior to the Merger, as defined below, 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.” On November 22, 2021, the Company changed its corporate name from The Original BARK Company to BARK, Inc. 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 POLICIES9 Months Ended
Dec. 31, 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 BARK, Inc. 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 nine months ended December 31, 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 December 31, 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 December 31, 2021 Level 1 Level 2 Level 3 Total Liabilities Public warrant liability (1) $ 5,007 $ — $ — $ 5,007 Private warrant liability (1) $ — $ 2,689 $ — $ 2,689 $ 5,007 $ 2,689 $ — $ 7,696 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 December 31, 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 December 31, 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 warrants have been recorded as current liabilities on the balance sheet at fair value upon issuance, 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 December 31, 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 nine months ended December 31, 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 57% and three customers that accounted for 84% of gross accounts receivable as of December 31, 2021 and March 31, 2021, respectively. The Company’s accounts receivable relates to sales to customers within the Commerce segment, which represented 12.7% and 16.1% of total revenue for the three and nine months December 31, 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 December 31, 2021 and 2020, the Company had two suppliers that accounted for 26% of total finished goods purchased and two suppliers that accounted for 32% of total finished goods purchased, respectively. During the nine months ended December 31, 2021 and 2020, the Company had two suppliers that accounted for 29% of total finished goods purchased and two suppliers that accounted for 32% of total finished goods purchased, respectively. The Company had two suppliers that accounted for 31% of the accounts payable balance and two suppliers that accounted for 44% of the accounts payable balance as of December 31, 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. The Company will elect option one and use the effective date of ASU 2016-02 as the date of initial application. As the Company will lose its emerging growth company (“EGC”) status by the end of March 31, 2022, the Company will be required to apply the provisions of ASU 2016-02 beginning with the annual reporting period ended March 31, 2022. The Company is currently evaluating the impact of the adoption of this update on its consolidated financial statements. Upon adoption of this standard, the Company will record a right of use asset and lease liability equal to the present value of these leases, which will have a material impact on the condensed consolidated balance sheet. However, upon the adoption of ASU 2016-02, no material changes are expected to the condensed consolidated statement of operations and the condensed consolidated statement of cash flows. 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. As the Company will lose EGC status by the end of March 31, 2022, the Company will be required to apply the provisions of ASU 2016-13 beginning with the annual reporting period ended March 31, 2 022. The Company does not expect the adoption of ASU 2019-13 to have a material impact on the Company’s condensed 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. As the Company will lose EGC status by the end of March 31, 2022, the Company will be required to apply the provisions of ASU 2016-13 beginning with the annual reporting period ended March 31, 2 022. The Company does not expect the adoption of ASU 2019-13 to have a material impact on the Company’s consolidated financial statements.

MERGER

MERGER9 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [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,” and in November 2021 changed its name to BARK, Inc. 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 December 31, 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; and • 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 — — — 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 CUSTOMERS9 Months Ended
Dec. 31, 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 nine-months ended December 31, 2021 and 2020 were as follows (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2021 2020 2021 2020 Revenue Direct to Consumer: Toys and treats subscription $ 114,270 $ 87,442 $ 321,343 $ 226,999 Other 3,854 2,759 8,973 5,670 Total Direct to Consumer $ 118,124 $ 90,201 $ 330,316 $ 232,669 Commerce 22,688 14,974 48,264 33,727 Revenue $ 140,812 $ 105,175 $ 378,580 $ 266,396 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 $36.2 million and $27.2 million as of December 31, 2021 and March 31, 2021, respectively. During the nine months ended December 31, 2021, the Company recognized $21.7 million of revenue included in deferred revenue as of March 31, 2021. Performance Obligations

DEBT

DEBT9 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]
DEBTDEBT As of December 31, 2021 and March 31, 2021, long-term debt consisted of the following (in thousands): As of December 31, As of March 31, 2021 2021 2025 Convertible Notes $ 79,171 $ 75,000 Western Alliance revolving line of credit & term loan — 34,300 Convertible promissory notes — 7,167 PPP loan — 5,157 79,171 121,624 Less: deferred financing fees and debt discount (3,139) (5,895) Total long-term debt $ 76,032 $ 115,729 Western Alliance Bank—Line of Credit and Term Loan In October 2017, the Company entered into a 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 had a maturity date of 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. 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. 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 December 31, 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 December 31, 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 $2.0 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 $0.5 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 $2.0 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. On December 1, 2021, the accrued interest of $4.2 million was paid-in-kind through an increase of the outstanding principal on the 2025 Convertible Notes. 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 December 31, 2021. Therefore, the Company did not record a derivative liability related to these features at December 31, 2021. The Company will assess the probability of occurrence quarterly during the term of the 2025 Convertible Notes. As of both December 31, 2021 and March 31, 2021, the Company had $79.2 million and $75.0 million of outstanding borrowings under the 2025 Convertible Notes agreement respectively.

REDEEMABLE CONVERTIBLE PREFERRE

REDEEMABLE CONVERTIBLE PREFERRED STOCK9 Months Ended
Dec. 31, 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 December 31, 2021.

STOCK-BASED COMPENSTION PLANS

STOCK-BASED COMPENSTION PLANS9 Months Ended
Dec. 31, 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 December 31, 2021, 15,019,099 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 of Directors (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 determined 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 nine months ended December 31, 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 nine months ended December 31, 2021 the Company granted to its employees 1,979,669 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 nine months ended December 31, 2021 and 2020, which includes expense related to options and restricted stock units (in thousands): Three months ended Nine months ended December 31, December 31, 2021 2020 2021 2020 General and administrative $ 2,200 $ 2,671 $ 4,599 $ 3,992 Advertising and marketing 2,009 63 6,437 134 Total stock-based compensation expense $ 4,209 $ 2,734 $ 11,036 $ 4,126 Employee Stock Purchase Plan In June 2021, the 2021 Employee Stock Purchase Plan (the “2021 ESPP”) became effective. The 2021 ESPP authorizes the issuance of shares of common stock pursuant to purchase rights granted to employees. A total of 3,385,901 shares of common stock have been reserved for future issuance under the 2021 ESPP. On the first day of each fiscal year commencing on April 1, 2022 and ending on (and including) March 31, 2041, the aggregate number of shares of common stock that may be issued under the ESPP 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 the lesser of (i) one percent (1%) of the total number of shares of common stock issued and outstanding on the last day of the preceding fiscal year or (ii) 1,500,000 shares of common stock. If the board of directors does not determine to increase the aggregate number of shares of common stock in the ESPP by May 1st of such fiscal year, such increase shall be zero. As of December 31, 2021, no shares have been issued under the 2021 ESPP.

COMMITMENT AND CONTINGENCIES

COMMITMENT AND CONTINGENCIES9 Months Ended
Dec. 31, 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 TAXES9 Months Ended
Dec. 31, 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 nine months ended December 31, 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 (LOSS) - NET

OTHER INCOME (LOSS) - NET9 Months Ended
Dec. 31, 2021
Other Income and Expenses [Abstract]
OTHER INCOME (LOSS) - NETOTHER INCOME (LOSS)—NETOther income—net consisted of the following: Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Other income — net: Other income $ 54 $ 109 $ 236 $ 277 Change in fair value of warrants 14,470 — 33,978 (17) Change in fair value of derivative liability — (1,600) — (319) Loss on extinguishment of debt 574 — (2,024) — Loss on warrant exercise — — (303) — Settlement claim — 795 — 795 $ 15,098 $ (696) $ 31,887 $ 736

NET LOSS PER SHARE

NET LOSS PER SHARE9 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]
NET LOSS PER SHARENET LOSS PER SHARE Basic and diluted net income (loss) per share attributable to common stockholders was calculated as follows: Three Months Ended December 31, Nine Months Ended 2021 2020 2021 2020 Numerator: Net loss $ (13,241) $ (24,972) $ (31,589) $ (24,334) Less: Earnings attributable to participating securities $ — $ — $ — $ — Net loss attributable to common stockholders—basic and diluted $ (13,241) $ (24,972) $ (31,589) $ (24,334) Denominator: Weighted average common shares outstanding—basic and diluted 172,554,101 46,192,869 150,313,932 45,867,792 Net loss per share attributable to common stockholders - basic and diluted $ (0.08) $ (0.54) $ (0.21) $ (0.53) For the three and nine months ended December 31, 2021, the Company’s potential dilutive securities, which include stock options, RSUs, 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 shares 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 nine months ended December 31, 2021. For the three and nine months ended December 31, 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 shares 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 nine months ended December 31, 2020. The Company excluded the following potential shares of common stock, presented based on amounts outstanding at December 31, 2021 and 2020 from the computation of diluted net loss per share attributable to common shareholders for the three and nine months ended December 31, 2021 and 2020 because including them would have had an anti-dilutive effect. As of December 31, 2021 2020 Redeemable convertible preferred stock as converted to common stock — 29,139,793 Stock options to purchase common stock 23,902,292 27,854,313 Restricted stock units 1,979,396 — Warrants to purchase common stock 13,036,333 2,044,705 Warrants to purchase preferred stock — 4,572 2025 convertible notes as converted to common stock 7,952,919 —

SEGMENTS

SEGMENTS9 Months Ended
Dec. 31, 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 Nine Months Ended December 31, 2021 2020 2021 2020 Direct to Consumer: Revenue $ 118,124 $ 90,201 $ 330,316 $ 232,669 Cost of revenue 47,876 36,866 131,195 90,034 Gross profit 70,248 53,335 199,121 142,635 Commerce: Revenue 22,688 14,974 48,264 33,727 Cost of revenue 14,527 8,808 29,298 18,387 Gross profit 8,161 6,166 18,966 15,340 Consolidated: Revenue 140,812 105,175 378,580 266,396 Cost of revenue 62,403 45,674 160,493 108,421 Gross profit $ 78,409 $ 59,501 $ 218,087 $ 157,975

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS9 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTSSUBSEQUENT EVENTS On January 10, 2022, Manish Joneja resigned as Chief Executive Officer (“CEO”) of the Company and from his position as a director of the Board. In connection with Mr. Joneja’s resignation, the Company entered into a release agreement with Mr. Joneja, effective as of January 10, 2022, providing for a general release of claims against the Company and its officers and directors as well as certain other standard provisions in exchange for payment of severance benefits. The Company has also entered into an advisor agreement with Mr. Joneja, effective as of January 10, 2022, pursuant to which Mr. Joneja will provide certain ongoing advisory services to the Company until March 31, 2022. In exchange for the release agreement and advisor agreement, the Company will pay Mr. Joneja 12 months of salary continuation payments, continuation of his health insurance benefits for up to 12 months and continuation of executive coaching services for up to 12 months. In addition, Mr. Joneja will be fully vested in an additional 1,624,183 stock option shares. In exchange for services to be performed under the advisor agreement, Mr. Joneja will have until June 30, 2023 to exercise all of his vested stock option shares.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)9 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]
Basis of PresentationThe accompanying condensed consolidated financial statements include the accounts of BARK, Inc. 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
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 December 31, 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. The Company will elect option one and use the effective date of ASU 2016-02 as the date of initial application. As the Company will lose its emerging growth company (“EGC”) status by the end of March 31, 2022, the Company will be required to apply the provisions of ASU 2016-02 beginning with the annual reporting period ended March 31, 2022. The Company is currently evaluating the impact of the adoption of this update on its consolidated financial statements. Upon adoption of this standard, the Company will record a right of use asset and lease liability equal to the present value of these leases, which will have a material impact on the condensed consolidated balance sheet. However, upon the adoption of ASU 2016-02, no material changes are expected to the condensed consolidated statement of operations and the condensed consolidated statement of cash flows. 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. As the Company will lose EGC status by the end of March 31, 2022, the Company will be required to apply the provisions of ASU 2016-13 beginning with the annual reporting period ended March 31, 2 022. The Company does not expect the adoption of ASU 2019-13 to have a material impact on the Company’s condensed 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. As the Company will lose EGC status by the end of March 31, 2022, the Company will be required to apply the provisions of ASU 2016-13 beginning with the annual reporting period ended March 31, 2 022. The Company does not expect the adoption of ASU 2019-13 to have a material impact on the Company’s consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)9 Months Ended
Dec. 31, 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 December 31, 2021 Level 1 Level 2 Level 3 Total Liabilities Public warrant liability (1) $ 5,007 $ — $ — $ 5,007 Private warrant liability (1) $ — $ 2,689 $ — $ 2,689 $ 5,007 $ 2,689 $ — $ 7,696 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 December 31, 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 December 31, 2021 $ —

MERGER (Tables)

MERGER (Tables)9 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Error Corrections and Prior Period AdjustmentsThe 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) 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 — — — 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)9 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated RevenueRevenue disaggregated by significant revenue stream for the three and nine-months ended December 31, 2021 and 2020 were as follows (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2021 2020 2021 2020 Revenue Direct to Consumer: Toys and treats subscription $ 114,270 $ 87,442 $ 321,343 $ 226,999 Other 3,854 2,759 8,973 5,670 Total Direct to Consumer $ 118,124 $ 90,201 $ 330,316 $ 232,669 Commerce 22,688 14,974 48,264 33,727 Revenue $ 140,812 $ 105,175 $ 378,580 $ 266,396

DEBT (Tables)

DEBT (Tables)9 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-term DebtAs of December 31, 2021 and March 31, 2021, long-term debt consisted of the following (in thousands): As of December 31, As of March 31, 2021 2021 2025 Convertible Notes $ 79,171 $ 75,000 Western Alliance revolving line of credit & term loan — 34,300 Convertible promissory notes — 7,167 PPP loan — 5,157 79,171 121,624 Less: deferred financing fees and debt discount (3,139) (5,895) Total long-term debt $ 76,032 $ 115,729

REDEEMABLE CONVERTIBLE PREFER_2

REDEEMABLE CONVERTIBLE PREFERRED STOCK (Tables)9 Months Ended
Dec. 31, 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)9 Months Ended
Dec. 31, 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 nine months ended December 31, 2021 and 2020, which includes expense related to options and restricted stock units (in thousands): Three months ended Nine months ended December 31, December 31, 2021 2020 2021 2020 General and administrative $ 2,200 $ 2,671 $ 4,599 $ 3,992 Advertising and marketing 2,009 63 6,437 134 Total stock-based compensation expense $ 4,209 $ 2,734 $ 11,036 $ 4,126

OTHER INCOME (LOSS) - NET (Tabl

OTHER INCOME (LOSS) - NET (Tables)9 Months Ended
Dec. 31, 2021
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense)Other income—net consisted of the following: Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Other income — net: Other income $ 54 $ 109 $ 236 $ 277 Change in fair value of warrants 14,470 — 33,978 (17) Change in fair value of derivative liability — (1,600) — (319) Loss on extinguishment of debt 574 — (2,024) — Loss on warrant exercise — — (303) — Settlement claim — 795 — 795 $ 15,098 $ (696) $ 31,887 $ 736

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)9 Months Ended
Dec. 31, 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 December 31, Nine Months Ended 2021 2020 2021 2020 Numerator: Net loss $ (13,241) $ (24,972) $ (31,589) $ (24,334) Less: Earnings attributable to participating securities $ — $ — $ — $ — Net loss attributable to common stockholders—basic and diluted $ (13,241) $ (24,972) $ (31,589) $ (24,334) Denominator: Weighted average common shares outstanding—basic and diluted 172,554,101 46,192,869 150,313,932 45,867,792 Net loss per share attributable to common stockholders - basic and diluted $ (0.08) $ (0.54) $ (0.21) $ (0.53)
Schedule of Antidilutive Securities Excluded from Computation of Net Loss Per ShareThe Company excluded the following potential shares of common stock, presented based on amounts outstanding at December 31, 2021 and 2020 from the computation of diluted net loss per share attributable to common shareholders for the three and nine months ended December 31, 2021 and 2020 because including them would have had an anti-dilutive effect. As of December 31, 2021 2020 Redeemable convertible preferred stock as converted to common stock — 29,139,793 Stock options to purchase common stock 23,902,292 27,854,313 Restricted stock units 1,979,396 — Warrants to purchase common stock 13,036,333 2,044,705 Warrants to purchase preferred stock — 4,572 2025 convertible notes as converted to common stock 7,952,919 —

SEGMENTS (Tables)

SEGMENTS (Tables)9 Months Ended
Dec. 31, 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 Nine Months Ended December 31, 2021 2020 2021 2020 Direct to Consumer: Revenue $ 118,124 $ 90,201 $ 330,316 $ 232,669 Cost of revenue 47,876 36,866 131,195 90,034 Gross profit 70,248 53,335 199,121 142,635 Commerce: Revenue 22,688 14,974 48,264 33,727 Cost of revenue 14,527 8,808 29,298 18,387 Gross profit 8,161 6,166 18,966 15,340 Consolidated: Revenue 140,812 105,175 378,580 266,396 Cost of revenue 62,403 45,674 160,493 108,421 Gross profit $ 78,409 $ 59,501 $ 218,087 $ 157,975

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS - Narrative (Details)Dec. 31, 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 ThousandsDec. 31, 2021Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability $ 4,883
Total $ 7,696 5,016
Public Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities5,007
Private Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities2,689
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
Total5,007 0
Level 1 | Public Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities5,007
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
Total2,689 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 liabilities2,689
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 Thousands9 Months Ended
Dec. 31, 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 Ended9 Months Ended12 Months Ended
Dec. 31, 2021Dec. 31, 2020Dec. 31, 2021Dec. 31, 2020Mar. 31, 2021Nov. 20, 2020
Concentration Risk [Line Items]
Warrants issued per share, percent0.3333
Restricted cash $ 2,280 $ 628 $ 2,280 $ 628 $ 1,500
Accounts Receivable | Customer Concentration Risk | Two Customers
Concentration Risk [Line Items]
Concentration risk, percentage57.00%
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, percentage12.70%16.10%
Finished Goods | Supplier Concentration Risk | Two Suppliers
Concentration Risk [Line Items]
Concentration risk, percentage26.00%32.00%29.00%32.00%
Accounts Payable | Supplier Concentration Risk | Two Suppliers
Concentration Risk [Line Items]
Concentration risk, percentage31.00%44.00%

MERGER - Merger Narrative (Deta

MERGER - Merger Narrative (Details) - USD ($)Jun. 01, 2021Dec. 31, 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)500,000,000 500,000,000 148,622,942
Common stock, shares outstanding (in shares)173,495,873 48,071,777
Common stock, shares issued (in shares)173,495,873 48,071,777
Retrospective Application Of Recapitalization Correction
Business Combination, Separately Recognized Transactions [Line Items]
Recapitalization exchange ratio (in shares)8.7425
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
Common stock, shares outstanding (in shares)5,498,588
Common stock, shares issued (in shares)5,498,588
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, 2021Dec. 31, 2021Sep. 30, 2021Jun. 30, 2021Mar. 31, 2021Dec. 31, 2020Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020
Business Combination, Separately Recognized Transactions [Line Items]
Common stock, shares authorized (in shares)500,000,000 500,000,000 148,622,942
Common stock, shares issued (in shares)173,495,873 48,071,777
Common Stock
Business Combination, Separately Recognized Transactions [Line Items]
Shares, Outstanding (in shares)173,495,873 171,069,553 48,071,777 46,435,225 46,058,871 45,431,784
Retrospective Application Of Recapitalization Correction
Business Combination, Separately Recognized Transactions [Line Items]
Recapitalization exchange ratio (in shares)8.7425
Retrospective Application Of Recapitalization Correction | Common Stock
Business Combination, Separately Recognized Transactions [Line Items]
Shares, Outstanding (in shares)166,704,484 48,071,777 45,706,062 45,431,784
Previously Reported | Common Stock
Business Combination, Separately Recognized Transactions [Line Items]
Shares, Outstanding (in shares)5,498,588 5,268,417 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, Outstanding (in shares)5,498,588 5,196,711
Common stock, shares issued (in shares)5,498,588

MERGER - Restated Condensed Con

MERGER - Restated Condensed Consolidated Balance Sheet (Details) - USD ($) $ / shares in Units, $ in ThousandsDec. 31, 2021Sep. 30, 2021Jun. 30, 2021Jun. 01, 2021Mar. 31, 2021Dec. 31, 2020Sep. 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 capital458,239 20,984
Accumulated deficit(211,542)(179,954)
Total stockholders’ equity (deficit) $ 246,698 $ 253,879 (158,970) $ (154,815) $ (132,925) $ (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) $ (132,925)(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, 2021Dec. 31, 2021Jun. 30, 2021Dec. 31, 2020Jun. 30, 2020Dec. 31, 2021Dec. 31, 2020Sep. 30, 2021Mar. 31, 2021Sep. 30, 2020Mar. 31, 2020
Increase (Decrease) in Temporary Equity [Roll Forward]
Convertible preferred stock, shares outstanding (in shares)0 7,752,515 0 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 7,752,515 0 7,752,515
Convertible Redeemable Preferred Stock, ending balance $ 0 $ 59,987 $ 0 $ 59,987
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance253,879 $ (158,970)(132,925) $ (135,387)(158,970)(135,387)
Net loss(13,241)(24,972)(31,589)(24,334)
Issuance for stock options exercised1,698 348 2,829 709
Issuance for warrants exercised1,019
Stock-based compensation4,209 2,129 11,036 3,117
Conversion of Preferred Shares59,987
Conversion of Convertible Notes152 12,128
PIPE Issuance200,000
Net equity infusion from the Merger150,257
Cumulative translation adjustment1 1
Ending balance $ 246,698 $ (154,815)246,698 (154,815)
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 balance $ 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(158,970)(135,387) $ (158,970) $ (135,387)
Net loss(24,804)2,016
Issuance for stock options exercised197 222
Issuance for warrants exercised104
Stock-based compensation3,098 388
Conversion of Preferred Shares59,987
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)171,069,553 48,071,777 46,058,871 45,431,784 48,071,777 45,431,784
Beginning balance $ 1 $ 0 $ 0 $ 0 $ 0 $ 0
Issuance for stock options exercised (in shares)2,426,047 376,354 5,508,181 788,438
Issuance for warrants exercised (in shares)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)173,495,873 46,435,225 173,495,873 46,435,225
Ending balance $ 1 $ 0 $ 1 $ 0
Common Stock | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)48,071,777 45,431,784 48,071,777 45,431,784
Beginning balance $ 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
Ending balance $ 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
Beginning balance $ 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 balance452,180 20,984 15,000 13,176 20,984 13,176
Issuance for stock options exercised1,698 348 2,829 709
Issuance for warrants exercised1,019
Stock-based compensation4,209 2,129 11,036 3,117
Conversion of Preferred Shares59,987
Conversion of Convertible Notes152 12,128
PIPE Issuance200,000
Net equity infusion from the Merger150,256
Ending balance458,239 18,082 458,239 18,082
Additional Paid-in Capital | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance20,984 13,176 20,984 13,176
Issuance for stock options exercised197 222
Issuance for warrants exercised104
Stock-based compensation3,098 388
Conversion of Preferred Shares59,987
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(198,302)(179,954)(147,925)(148,563)(179,954)(148,563)
Net loss(13,241)(24,972)(31,589)(24,334)
Cumulative translation adjustment1 1
Ending balance $ (211,542)(172,897)(211,542)(172,897)
Accumulated Deficit | Retrospective Application Of Recapitalization Correction
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(179,954)(148,563)(179,954)(148,563)
Net 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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(158,970) $ (132,925)(135,387)(158,970)(135,387)
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 loss $ 2,016
Previously Reported | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning balance (in shares)5,498,588 5,268,417 5,196,711 5,498,588 5,196,711
Beginning balance $ 0 $ 0 $ 0 $ 0 $ 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) $ (4,764) $ (4,755) $ (4,764) $ (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 19,764 17,931 25,748 17,931
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)(147,925)(148,563)(179,954)(148,563)
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
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 40,790,454 40,235,073 42,573,189 40,235,073
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 $ 4,764 $ 4,755 $ 4,764 $ 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) $ (4,764)(4,755)(4,764)(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 Ended9 Months Ended
Dec. 31, 2021Jun. 30, 2021Dec. 31, 2020Jun. 30, 2020Dec. 31, 2021Dec. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss $ (13,241) $ (24,972) $ (31,589) $ (24,334)
Less: Earnings attributable to participating securities0 0 0 0
Less: Earnings attributable to participating securities0 0 0 0
Net loss attributable to common stockholders - diluted(13,241)(24,972)(31,589)(24,334)
Net loss attributable to common stockholders - basic $ (13,241) $ (24,972) $ (31,589) $ (24,334)
Weighted-average number of common shares outstanding - basic (in shares)172,554,101 46,192,869 150,313,932 45,867,792
Weighted-average common shares outstanding - diluted (in shares)172,554,101 46,192,869 150,313,932 45,867,792
Net income (loss) per share attributable to common stockholders - basic (USD per share) $ (0.08) $ (0.54) $ (0.21) $ (0.53)
Net income (loss) per share attributable to common stockholders - diluted (USD per share) $ (0.08) $ (0.54) $ (0.21) $ (0.53)
Retrospective Application Of Recapitalization Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net 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 number of common shares outstanding - 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 outstanding - diluted (in shares)83,809,484
Net income (loss) per share attributable to common stockholders - basic (USD per share) $ 0.01
Net income (loss) per 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 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 number of common shares outstanding - 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 outstanding - diluted (in shares)9,586,378
Net income (loss) per share attributable to common stockholders - basic (USD per share) $ 0.08
Net income (loss) per 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 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 number of common shares outstanding - 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 outstanding - diluted (in shares)74,223,106
Net income (loss) per share attributable to common stockholders - basic (USD per share) $ (0.07)
Net income (loss) per 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 Ended9 Months Ended
Dec. 31, 2021Dec. 31, 2020Dec. 31, 2021Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue $ 140,812 $ 105,175 $ 378,580 $ 266,396
Direct to Consumer:
Disaggregation of Revenue [Line Items]
Revenue118,124 90,201 330,316 232,669
Commerce
Disaggregation of Revenue [Line Items]
Revenue22,688 14,974 48,264 33,727
Toys and treats subscription | Direct to Consumer:
Disaggregation of Revenue [Line Items]
Revenue114,270 87,442 321,343 226,999
Other | Direct to Consumer:
Disaggregation of Revenue [Line Items]
Revenue $ 3,854 $ 2,759 $ 8,973 $ 5,670

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Thousands9 Months Ended
Dec. 31, 2021Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Contractual liabilities included in deferred revenue $ 36,210 $ 27,177
Contractual liabilities included in deferred revenue, revenue recognized $ 21,700

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($) $ in ThousandsDec. 31, 2021Mar. 31, 2021
Debt Instrument [Line Items]
Long-term debt, gross $ 79,171 $ 121,624
Less: deferred financing fees and debt discount(3,139)(5,895)
Total long-term debt76,032 115,729
Convertible Debt | 2025 Convertible Notes
Debt Instrument [Line Items]
Long-term debt, gross79,171 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, 2020Dec. 31, 2021Dec. 31, 2020Oct. 29, 2021Mar. 31, 2021Dec. 07, 2018Oct. 31, 2017
Debt Instrument [Line Items]
Payments of long-term debt $ 39,457,000 $ 25,250,000
Total long-term debt76,032,000 $ 115,729,000
Line of Credit | Western Alliance Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity $ 2,700,000 $ 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 ($)Dec. 31, 2019USD ($)debtClosingDec. 31, 2021USD ($)Dec. 31, 2020USD ($)Dec. 31, 2021USD ($)sharesDec. 31, 2020USD ($)Mar. 31, 2021USD ($)Jun. 18, 2020USD ($)Dec. 19, 2019USD ($)
Debt Instrument [Line Items]
Proceeds from convertible notes $ 0 $ 75,750,000
Total long-term debt $ 76,032,000 76,032,000 $ 115,729,000
Loss on extinguishment of debt $ (574,000) $ 0 $ 2,024,000 $ 0
Common Stock
Debt Instrument [Line Items]
Conversion of preferred shares (in shares) | shares1,135,713 1,135,713
Debt instrument, convertible, value of equity instruments $ 12,800,000
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%
Convertible Debt | Convertible promissory notes
Debt Instrument [Line Items]
Total long-term debt $ 7,200,000
Loss on extinguishment of debt2,000,000
Equity component of convertible debt $ 500,000

DEBT - Paycheck Protection Plan

DEBT - Paycheck Protection Plan Program (Details) - USD ($) $ in ThousandsApr. 24, 2020Dec. 31, 2021Dec. 31, 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 ($)Dec. 01, 2021Nov. 27, 2020Dec. 31, 2021Dec. 31, 2020Mar. 31, 2021
Debt Instrument [Line Items]
Proceeds from convertible notes $ 0 $ 75,750,000
Payments of debt issuance costs641,000 614,000
Payments of long-term debt39,457,000 25,250,000
Paid in kind interest on convertible notes4,171,000 $ 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%
Paid in kind interest on convertible notes $ 4,200,000
Debt instrument, debt default, interest rate increase3.00%
Convertible debt $ 79,200,000 $ 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 ThousandsDec. 31, 2021Sep. 30, 2021Mar. 31, 2021Dec. 31, 2020Sep. 30, 2020Mar. 31, 2020
Preferred Units [Line Items]
Convertible preferred stock, shares issued (in shares)0 7,752,515
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
Convertible preferred stock, shares outstanding (in shares)2,057,188
Redeemable convertible preferred stock $ 1,897
Series A
Preferred Units [Line Items]
Convertible preferred stock, shares issued (in shares)2,110,400
Convertible preferred stock, shares outstanding (in shares)2,110,400
Redeemable convertible preferred stock $ 4,948
Series B
Preferred Units [Line Items]
Convertible preferred stock, shares issued (in shares)990,068
Convertible preferred stock, shares outstanding (in shares)990,068
Redeemable convertible preferred stock $ 10,285
Series C
Preferred Units [Line Items]
Convertible preferred stock, shares issued (in shares)2,142,188
Convertible preferred stock, shares outstanding (in shares)2,142,188
Redeemable convertible preferred stock $ 34,585
Series C-1
Preferred Units [Line Items]
Convertible preferred stock, shares issued (in shares)452,671
Convertible preferred stock, shares outstanding (in shares)452,671
Redeemable convertible preferred stock $ 8,272

REDEEMABLE CONVERTIBLE PREFER_4

REDEEMABLE CONVERTIBLE PREFERRED STOCK - Narrative (Details) - sharesJun. 01, 2021Dec. 31, 2021Sep. 30, 2021Jun. 30, 2021Mar. 31, 2021Dec. 31, 2020Sep. 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
Retrospective Application Of Recapitalization Correction
Preferred Units [Line Items]
Recapitalization exchange ratio (in shares)8.7425
Convertible preferred stock, shares outstanding (in shares)0 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, 2021Dec. 31, 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)15,019,099
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)9 Months Ended
Dec. 31, 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
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period4 years
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-BASED COMPENSTION PLANS_3

STOCK-BASED COMPENSTION PLANS - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Dec. 31, 2021Dec. 31, 2020Dec. 31, 2021Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense $ 4,209 $ 2,734 $ 11,036 $ 4,126
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense2,200 2,671 4,599 3,992
Advertising and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense $ 2,009 $ 63 $ 6,437 $ 134

STOCK-BASED COMPENSTION PLANS_4

STOCK-BASED COMPENSTION PLANS - Employee Stock Purchase Plan Narrative (Details) - Employee Stock - shares1 Months Ended9 Months Ended
Jun. 30, 2021Dec. 31, 2021
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
Shares issued in period (in shares)0

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)3 Months Ended9 Months Ended
Dec. 31, 2021Dec. 31, 2020Dec. 31, 2021Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal, state, or foreign income tax provision (benefit) $ 0 $ 0 $ 0 $ 0

OTHER INCOME (LOSS) - NET - Sch

OTHER INCOME (LOSS) - NET - Schedule of Other Income - Net (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Dec. 31, 2021Dec. 31, 2020Dec. 31, 2021Dec. 31, 2020
Other income—net:
Other income $ 54 $ 109 $ 236 $ 277
Change in fair value of warrants14,470 0 33,978 (17)
Change in fair value of derivative liability0 (1,600)0 (319)
Loss on extinguishment of debt574 0 (2,024)0
Loss on warrant exercise0 0 (303)0
Loss on extinguishment of debt0 795 0 795
Other income - net $ 15,098 $ (696) $ 31,887 $ 736

NET LOSS PER SHARE - Calculatio

NET LOSS PER SHARE - Calculation of Basic and Diluted Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended9 Months Ended
Dec. 31, 2021Dec. 31, 2020Dec. 31, 2021Dec. 31, 2020
Numerator [Abstract]
Net loss $ (13,241) $ (24,972) $ (31,589) $ (24,334)
Less: Earnings attributable to participating securities0 0 0 0
Less: Earnings attributable to participating securities0 0 0 0
Net loss attributable to common stockholders - basic(13,241)(24,972)(31,589)(24,334)
Net loss attributable to common stockholders - diluted $ (13,241) $ (24,972) $ (31,589) $ (24,334)
Denominator [Abstract]
Weighted average common shares outstanding—basic (in shares)172,554,101 46,192,869 150,313,932 45,867,792
Weighted-average common shares outstanding - diluted (in shares)172,554,101 46,192,869 150,313,932 45,867,792
Net Income Loss Per Share Attributable To Common Stockholders [Abstract]
Net loss per common share attributable to common stockholders - basic (USD per share) $ (0.08) $ (0.54) $ (0.21) $ (0.53)
Net loss common per share attributable to common stockholders - diluted (USD per share) $ (0.08) $ (0.54) $ (0.21) $ (0.53)

NET LOSS PER SHARE - Narrative

NET LOSS PER SHARE - Narrative (Details) - shares3 Months Ended
Dec. 31, 2021Dec. 31, 2020
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

NET LOSS PER SHARE - Schedule o

NET LOSS PER SHARE - Schedule of Antidilutive Securities Excluded from Computation of Net Loss per Share (Details) - shares3 Months Ended
Dec. 31, 2021Dec. 31, 2020
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 29,139,793
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)23,902,292 27,854,313
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)1,979,396 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
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
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)7,952,919 0

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details)9 Months Ended
Dec. 31, 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 Ended9 Months Ended
Dec. 31, 2021Dec. 31, 2020Dec. 31, 2021Dec. 31, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue $ 140,812 $ 105,175 $ 378,580 $ 266,396
Cost of revenue62,403 45,674 160,493 108,421
Gross profit78,409 59,501 218,087 157,975
Direct to Consumer:
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue118,124 90,201 330,316 232,669
Cost of revenue47,876 36,866 131,195 90,034
Gross profit70,248 53,335 199,121 142,635
Commerce
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue22,688 14,974 48,264 33,727
Cost of revenue14,527 8,808 29,298 18,387
Gross profit $ 8,161 $ 6,166 $ 18,966 $ 15,340

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent EventJan. 10, 2022shares
Subsequent Event [Line Items]
Salary continuation period12 months
Health insurance benefits continuation period12 months
Executive coaching service continuation period12 months
Vested, number of shares (in shares)1,624,183