Northern Star Acquisition Corp (STIC) Reports Q4 Revenues of $112.2M

Northern Star Acquisition Corp (NYSE: STIC) reported Q4 EPS of $. Revenue for the quarter came in at $112.2 million, versus $62.7 million reported last year.

Preliminary Fiscal Fourth Quarter 2021 Results:

• Revenue increased 79.0% to $112.2 million as compared to the same period last year.
  • Subscription Shipments increased 70.3% year over year to 3.5 million.
• Gross margin was 60.6% as compared to 61.9% for the same period last year.
• Net loss was $(7.1) million, or (6.3)% of revenue, as compared to $(4.1) million, or (6.6)% of revenue, for the same period last year.
• Adjusted EBITDA(1) was $0.2 million as compared to $(0.8) million for the same period last year.
  • Adjusted EBITDA margin was 0.2% as compared to (1.3)% for the same period last year.
• New Subscriptions totaled 264,000, an increase of 72.5% year over year.
• Lifetime Value ("LTV") to Customer Acquisition Cost ("CAC")(2) was 6.6x.

"In fiscal 2021, BARK continued to generate impressive revenues, which grew nearly 70% year over year, reflecting the strength of the Company's differentiated product offerings and brand appeal, proprietary data-driven platform, omnichannel sales approach and our outstanding customer engagement," said Manish Joneja, Chief Executive Officer of BARK. "Through our pending merger with Northern Star, we are confident BARK will have the capital and resources necessary to accelerate our key strategic initiatives and further our position as the leading brand for dogs in the rapidly growing pet industry worldwide. We are excited about BARK's many growth opportunities ahead as we continue on our mission to make all dogs happy."

"BARK's strong fourth quarter and fiscal year performance further demonstrates the Company's outstanding execution as it continues to outpace the growth in the pet industry," stated Joanna Coles, Chairperson and Chief Executive Officer of Northern Star. "We believe that BARK's powerful business model and strong management team will drive long-term profitable growth and compelling shareholder value."

GUIDANCE:

Northern Star Acquisition Corp sees Q1 2022 revenue of $116-118 million.

Northern Star Acquisition Corp sees FY2022 revenue of $516 million.

For earnings history and earnings-related data on Northern Star Acquisition Corp (STIC) click here.

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