SEGMENTS

9 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENTS

SEGMENTS

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 toys & accessories and consumables through BarkBox, Super Chewer, and the companies consumables website, bark.co. The Commerce segment today derives revenue primarily from the sale of individual toys 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 Chief Executive Officer, as the chief operating decision maker (“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 December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
Direct to Consumer:
Revenue	$	110,903	$	120,075	$	327,099	$	356,018
Cost of revenue	40,102		45,878		119,037		138,961
Gross profit	70,801		74,197		208,062		217,057
Commerce:
Revenue	14,172		14,259		41,601		53,280
Cost of revenue	7,729		8,266		23,742		33,991
Gross profit	6,443		5,993		17,859		19,289
Consolidated:
Revenue	125,075		134,334		368,700		409,298
Cost of revenue	47,831		54,144		142,779		172,952
Gross profit	$	77,244	$	80,190	$	225,921	$	236,346