What BARK, Inc. told the SEC could break it.

BARK has supplier concentration — two suppliers accounted for 40% of total finished goods purchased (and one was 14% of accounts payable) — with the majority of its toys sourced from China, so a supplier disruption would hit its product supply.

“the Company had two suppliers that accounted for 40 % of total finished goods purchased and two suppliers that accounted for 31 % of total finished goods purchased.”

If BARK's stock stays below the 2025 Convertible Notes' conversion price it must repay the remaining principal in cash (which it may not have), and its Western Alliance revolving facility carries financial covenants restricting affiliate transactions, mergers and asset sales.

“if our stock price does not meet the conversion price of the 2025 Convertible Notes, then we will have to repay the principal of the 21 Table of Contents 2025 Convertible Notes in cash, which we may not have available.”

Newly imposed and potential future U.S. tariffs on Chinese imports raise BARK's cost of goods (the majority of its toys are sourced in China) and have prompted it to reallocate toward consumables/services as toys face tariff headwinds.

“newly imposed tariffs on imports from China, where the majority of our toys are currently sourced.”