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.
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