Aterian, Inc. ATER
See the sections contained within this Annual Report entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" for further information.
Aterian, Inc. (the "Company") is a consumer products company that predominantly operates through online retail channels such as Amazon, Walmart, and Target and its own direct to consumer websites. The Company operates its owned brands, which were either incubated or purchased, selling products in multiple categories, including home and kitchen appliances, kitchenware, air quality appliances, health and beauty products and essential oils.
Our primary brands include Squatty Potty, HomeLabs, Mueller Living, PurSteam, Healing Solutions, and Photo Paper Direct ("PPD"). We generate revenue primarily through the online sales of our various consumer products with substantially all of our sales being made through the Amazon U.S. marketplace.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $69.0M | $99.0M | $142.6M | $221.2M | $247.8M | $185.7M | $114.5M | $73.3M | — |
| Cost of revenue | $29.8M | $37.5M | $72.3M | $115.7M | $125.9M | $101.0M | $69.4M | $47.3M | — |
| Gross profit | $39.1M | $61.5M | $70.3M | $105.5M | $121.9M | $84.7M | $45.0M | $26.0M | — |
| R&D | — | $0 | $4.6M | $6.0M | $9.8M | $8.1M | $10.7M | $3.7M | — |
| SG&A | $11.8M | $17.3M | $20.2M | $38.2M | $45.1M | $30.6M | $33.5M | $11.3M | — |
| Total operating expenses | $57.1M | $73.3M | $146.5M | $283.7M | $155.9M | $119.5M | $99.4M | $55.4M | — |
| Operating income | -$18.0M | -$11.8M | -$76.2M | -$178.2M | -$34.1M | -$34.8M | -$54.3M | -$29.4M | — |
| Interest expense | $957.0K | $1.2M | $2.1M | $2.7M | $13.2M | $5.0M | $4.5M | $2.4M | — |
| Pre-tax income | -$18.9M | -$11.9M | -$75.4M | -$196.7M | -$235.5M | -$63.1M | -$58.8M | -$31.8M | — |
| Income tax | $41.0K | $47.0K | $867.0K | $376.0K | $532.0K | $48.0K | $29.0K | $55.0K | — |
| Net income | -$19.0M | -$11.9M | -$74.6M | -$196.3M | -$236.0M | -$63.1M | -$58.8M | -$31.8M | — |
| EPS, basic | -2.39 | -1.68 | -11.43 | -2.95 | -6.67 | — | — | — | — |
| EPS, diluted | — | — | — | -2.95 | -6.67 | -3.68 | -4.35 | -3.13 | — |
| Shares, diluted (wtd. avg.) | 7.9M | 7.1M | 6.5M | 66.5M | 35.4M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.9M | $18.0M | $20.0M | $43.6M | $30.3M | $26.7M | $30.4M | $20.0M | — |
| Receivables | $2.5M | $3.8M | $4.2M | $4.5M | $10.5M | $5.7M | $1.1M | $1.4M | — |
| Inventory | $13.8M | $13.7M | $20.4M | $43.7M | $63.0M | $31.6M | $36.2M | $30.6M | — |
| Total current assets | $24.1M | $38.7M | $49.6M | $100.0M | $124.9M | $75.2M | $73.0M | $57.4M | — |
| Property, plant and equipment | $729.0K | $685.0K | $775.0K | $853.0K | $1.3M | $169.0K | $175.0K | $268.0K | — |
| Goodwill | — | — | $0 | $0 | $119.9M | $47.3M | — | — | — |
| Other intangibles | $4.4M | $9.8M | $11.3M | $54.8M | $65.0M | $31.5M | — | — | — |
| Total assets | $29.6M | $49.5M | $61.9M | $156.4M | $313.6M | $157.5M | $74.4M | $58.0M | — |
| Accounts payable | $3.1M | $3.1M | $4.2M | $16.0M | $21.7M | $14.9M | $21.1M | $15.4M | — |
| Total current liabilities | $14.1M | $19.3M | $25.4M | $53.0M | $83.7M | $74.7M | $53.2M | $39.6M | — |
| Long-term debt | — | — | — | — | — | — | $35.1M | — | — |
| Total liabilities | $14.4M | $19.5M | $25.8M | $54.5M | $89.3M | $134.1M | $63.7M | $52.6M | — |
| Retained earnings | -$730.7M | -$711.7M | -$699.8M | -$625.3M | -$429.0M | -$192.9M | -$129.8M | -$71.0M | — |
| Total equity | $15.2M | $30.0M | $36.0M | $102.0M | $224.2M | $23.4M | $10.7M | $5.4M | $8.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$10.9M | $2.2M | -$13.4M | -$17.5M | -$42.0M | $6.1M | -$25.2M | -$30.3M | — |
| Depreciation and amortisation | $1.6M | $1.7M | $3.9M | $7.5M | $200.0K | $300.0K | $200.0K | $300.0K | — |
| Stock-based compensation | $2.2M | $7.5M | $8.3M | $14.6M | $29.0M | $22.7M | $34.7M | $619.0K | — |
| Capital expenditure | $51.0K | $42.0K | $119.0K | $82.0K | $32.0K | $89.0K | $114.0K | $61.0K | — |
| Investing cash flow | -$51.0K | -$242.0K | -$244.0K | -$677.0K | -$44.9M | -$39.1M | -$1.3M | -$26.0K | — |
| Financing cash flow | -$2.5M | -$4.9M | -$11.1M | $27.0M | $95.6M | $32.3M | $36.6M | $45.3M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-017434.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $73.3M | $114.5M | $185.7M | $247.8M | $221.2M | $142.6M | $99.0M | $69.0M |
| Gross profit | — | $26.0M | $45.0M | $84.7M | $121.9M | $105.5M | $70.3M | $61.5M | $39.1M |
| Net income | — | -$31.8M | -$58.8M | -$63.1M | -$236.0M | -$196.3M | -$74.6M | -$11.9M | -$19.0M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Change of control Control of the company has changed hands. Item 5.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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