By Sam Boughedda
Investing.com — Bark (NYSE:BARK) has climbed more than 20% Tuesday after it reported preliminary third-quarter revenue.
In addition, after the close on Monday, the dog company said that Matt Meeker, co-founder and executive chairman of BARK, will become CEO, effective immediately. Meeker was previously Chief Executive Officer of BARK for nine years following its inception in 2011. He will be taking over from Manish Joneja, who has resigned due to personal reasons. However, Joneja will serve as an advisor to the company until April.
Bark said it expects preliminary fiscal third-quarter 2022 revenue to be $140 million, a 33.1% increase compared to the same period last year. The company had set a previous revenue guidance range of $137 million to $139 million. The company added that through the first three quarters of fiscal 2022, its top-line has increased around 41.8% to $377.8 million.
"Our robust holiday season and strong results underscore the power of our brand and our unique value proposition as one of the largest vertically integrated and digitally native dog companies in the world today," said the new CEO.