NEW YORK — Following the announcement of plans to acquire Barkbox, Inc., Northern Star Acquisition Corp. released the subscription-based pet product company’s fiscal 2021 third quarter and nine-month financial results on Feb. 16, showing growth in revenue, subscription shipments and new subscriptions.

These results represent select, preliminary and unaudited numbers.

Third-quarter revenue for Barkbox totaled $105 million, up 78% from the third quarter of fiscal 2020. Nine-month revenue grew 65% to $266 million compared to year-ago sales. The company reported higher customer acquisition costs, up roughly $16 per customer, in the third quarter attributed to fewer discounts and higher media spend.

"Our strong revenue growth is the result of our omni-channel sales approach, data-driven platform and consistent customer engagement," said Manish Joneja, chief executive officer of Barkbox. "Our pending merger with Northern Star will provide BARK with the resources and capital to help capture the significant growth opportunities in our new business lines and drive continued expansion as we work towards our mission of making all dogs happy."

Subscription shipments for Barkbox grew 47% to 1.1 million compared to year-ago shipments, and new subscriptions rose 66% to 381,000 over the same period.

"We are impressed with BARK's preliminary results for the third quarter, which reflect the tremendous strength of the company's reach and relationships with its customers," said Joanna Coles, chairwoman and chief executive officer of Northern Star. "We believe that BARK is well-positioned for continued long-term growth, and these impressive results just reiterate our confidence in the long-term value BARK will provide to its shareholders."

Northern Star Acquisition Corp. announced in December 2020 its plans to purchase Barkbox and take the company public on the New York Stock Exchange under the ticker symbol “BARK.” The merger is expected to close in the second quarter of 2021.

At the time, the Northern Star estimated Barkbox’s enterprise value at $1.6 billion. 

"We are pleased to see the momentum in our business through the holiday season as well as the strong reception of our Peanuts and Home Alone themed boxes,” said Matt Meeker, executive chairman of Barkbox. “We took advantage of the seasonality of our Play category to achieve exceptional growth in our subscriber base while still maintaining disciplined CAC and unit economics. We remain excited about the tremendous growth opportunities ahead and confident in our previously disclosed full fiscal year 2021 and 2022 forecasts."

Barkbox was founded in 2012 and operates today as a dog-focused product platform offering custom and subscription-based monthly toy and treat boxes, as well as durable chew toys, everyday pet products, dental health and wellness products, and its own custom dog food service, BARK Eats.

Read more about corporate strategy, financial performance, mergers and acquisitions on our Business page.