Aterian, Inc.(ATER)Earnings, Financials & Key Ratios

ATER•NASDAQ

$1.26

$13M mkt cap·Price updated May 6, 2026

SectorConsumer Cyclical IndustryHome Furnishings Sub-IndustryHome Appliances (Major and Small)

AboutAterian, Inc., together with its subsidiaries, operates as a technology-enabled consumer products company in North America and internationally. The company provides Artificial Intelligence Marketplace e-Commerce Engine, a software technology platform, which uses machine learning, natural language processing, and data analytics to design, develop, market, and sell products. Its platform offers home and kitchen appliances; kitchenware; heating, cooling, and health and beauty products; and air quality appliances, such as dehumidifiers, humidifiers, and air conditioners under the hOmeLabs, Vremi, Squatty Potty, Xtava, RIF6, Aussie Health, Holonix, Truweo, Mueller, Pursteam, Pohl and Schmitt, Healing Solutions, Photo Paper Direct, and Spiralizer brands. The company also sells essential oils. It primarily serves individual online consumers through Amazon and other e-commerce platforms, as well as through its owned and operated websites and other marketplaces. The company was formerly known as Mohawk Group Holdings, Inc. and changed its name to Aterian, Inc. in April 2021. Aterian, Inc. was founded in 2014 and is headquartered in New York, New York.Show more

Revenue$69M-30.4%
EBITDA$12M+217.0%
Net Income-$19M-60.0%
EPS (Diluted)-2.39-42.3%
Gross Margin56.76%-8.6%
EBITDA Margin17.18%+267.9%
Operating Margin17.18%+243.9%
Net Margin-27.52%-129.8%
ROE-83.95%-133.7%
ROIC59.69%+260.2%
Interest Coverage13.93+243.5%

Technical→

ATER Key Insights

Aterian, Inc. (ATER) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Momentum leader: RS Rating 89 (top 11%)
✓Trading at only 0.7x book value
✓Efficient asset utilization: 2.3x turnover

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Sales declining 18.0% over 5 years
✗Shares diluted 12.2% in last year
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

ATER Price & Volume

Aterian, Inc. (ATER) stock price & volume — 10-year historical chart

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ATER Growth Metrics

Aterian, Inc. (ATER) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years-17.97%

3 Years-32.19%

TTM-30.36%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-60.03%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-39.77%

Return on Capital

10 Years-102.64%

5 Years-44.26%

3 Years-30.85%

Last Year51.89%

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
PRCHPorch Group, Inc.Direct Competitor	1.21B	11.10	-342.59	10.18%	-1.8%	-60.88%	17.55
AMZNAmazon.com, Inc.Direct Competitor	2.96T	274.95	38.35	12.38%	12.22%	23.34%	0.37
WRBYWarby Parker Inc.Direct Competitor	2.7B	22.03	1681.68	13.04%	0.19%	0.45%	0.63
CNXNPC Connection, Inc.Product Competitor	1.63B	64.79	19.81	2.52%	3.02%	9.67%	0.00
VTEXVtexProduct Competitor	691.55M	3.85	35	6.09%	8.32%	8.24%	0.01
CARTInstacart (Maplebear Inc.)Product Competitor	9.52B	40.21	25.13	10.78%	12.55%	16.62%	0.01
SHOPShopify Inc.Supply Chain	136.9B	105.44	112.17	30.14%	10.77%	10.52%	0.01
PAYCPaycom Software, Inc.Supply Chain	6.86B	126.32	15.63	8.95%	22.44%	31.03%	0.09

Compare ATER vs Peers

Aterian, Inc. (ATER) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PRCH

Most directly comparable listed peer for ATER.

Scale Benchmark

vs AMZN

Larger-name benchmark to compare ATER against a more recognizable public peer.

Peer Set

Compare Top 5

vs PRCH, AMZN, WRBY, CNXN

ATER Income Statement

Aterian, Inc. (ATER) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Sales/Revenue	36.46M	73.28M	114.45M	185.7M	247.77M	221.17M	142.57M	99.05M	68.97M
Revenue Growth %	-	100.99%	56.19%	62.26%	33.42%	-10.73%	-35.54%	-30.53%	-30.36%
Cost of Goods Sold	22.78M	47.3M	69.41M	100.96M	125.9M	115.65M	72.28M	37.55M	29.82M
COGS % of Revenue	62.48%	64.54%	60.65%	54.36%	50.82%	52.29%	50.7%	37.91%	43.24%
Gross Profit	13.68M▲ 0%	25.98M▲ 90.0%	45.04M▲ 73.3%	84.75M▲ 88.2%	121.86M▲ 43.8%	105.52M▼ 13.4%	70.28M▼ 33.4%	61.49M▼ 12.5%	39.15M▼ 36.3%
Gross Margin %	37.52%	35.46%	39.35%	45.63%	49.18%	47.71%	49.3%	62.09%	56.76%
Gross Profit Growth %	-	89.96%	73.34%	88.16%	43.8%	-13.41%	-33.39%	-12.51%	-36.34%
Operating Expenses	36.27M	55.41M	99.37M	119.5M	155.94M	283.68M	146.47M	73.32M	27.3M
OpEx % of Revenue	99.48%	75.62%	86.83%	64.35%	62.94%	128.26%	102.74%	74.02%	39.58%
Selling, General & Admin	32.57M	51.76M	88.71M	98.64M	171.17M	159.38M	102.13M	73.32M	11.85M
SG&A % of Revenue	89.34%	70.63%	77.51%	53.11%	69.08%	72.06%	71.64%	74.02%	17.17%
Research & Development	3.7M	3.65M	10.66M	8.13M	9.84M	6.01M	4.62M	0	0
R&D % of Revenue	10.14%	4.99%	9.31%	4.38%	3.97%	2.72%	3.24%	-	-
Other Operating Expenses	-24K	14K	0	12.73M	-25.07M	118.29M	39.73M	0	15.45M
Operating Income	-22.59M▲ 0%	-29.43M▼ 30.3%	-54.33M▼ 84.6%	-34.75M▲ 36.0%	-34.08M▲ 1.9%	-178.16M▼ 422.8%	-76.19M▲ 57.2%	-11.82M▲ 84.5%	11.85M▲ 200.2%
Operating Margin %	-61.97%	-40.16%	-47.47%	-18.71%	-13.75%	-80.55%	-53.44%	-11.94%	17.18%
Operating Income Growth %	-	-30.26%	-84.62%	36.04%	1.94%	-422.81%	57.23%	84.48%	200.25%
EBITDA	-22.34M	-29.18M	-54.15M	-34.2M	-26.75M	-170.64M	-72.3M	-10.13M	11.85M
EBITDA Margin %	-61.26%	-39.81%	-47.31%	-18.42%	-10.8%	-77.15%	-50.72%	-10.23%	17.18%
EBITDA Growth %	-	-30.63%	-85.6%	36.84%	21.78%	-537.88%	57.63%	85.98%	216.95%
D&A (Non-Cash Add-back)	258K	253K	183K	552K	7.33M	7.52M	3.89M	1.69M	0
EBIT	-22.62M	-29.41M	-54.23M	-58.04M	-222.24M	-193.97M	-73.31M	-10.69M	0
Net Interest Income	-412K	-2.35M	-4.39M	-4.98M	-12.65M	-2.6M	-1.42M	-949K	0
Interest Income	1K	1K	146K	59K	595K	93K	704K	269K	0
Interest Expense	413K	2.35M	4.53M	5.04M	13.25M	2.7M	2.13M	1.22M	851K
Other Income/Expense	-436K	-2.34M	-4.43M	-28.33M	-201.41M	-18.51M	759K	-86K	-30.8M
Pretax Income	-23.03M▲ 0%	-31.77M▼ 37.9%	-58.76M▼ 85.0%	-63.08M▼ 7.3%	-235.49M▼ 273.3%	-196.67M▲ 16.5%	-75.43M▲ 61.6%	-11.91M▲ 84.2%	-18.94M▼ 59.1%
Pretax Margin %	-63.16%	-43.35%	-51.34%	-33.97%	-95.05%	-88.92%	-52.91%	-12.02%	-27.46%
Income Tax	38K	55K	29K	48K	532K	-376K	-867K	-47K	41K
Effective Tax Rate %	-0.17%	-0.17%	-0.05%	-0.08%	-0.23%	0.19%	1.15%	0.39%	-0.22%
Net Income	-23.07M▲ 0%	-31.82M▼ 38.0%	-58.79M▼ 84.7%	-63.13M▼ 7.4%	-236.02M▼ 273.9%	-196.29M▲ 16.8%	-74.56M▲ 62.0%	-11.86M▲ 84.1%	-18.98M▼ 60.0%
Net Margin %	-63.27%	-43.43%	-51.37%	-33.99%	-95.26%	-88.75%	-52.3%	-11.98%	-27.52%
Net Income Growth %	-	-37.96%	-84.74%	-7.38%	-273.89%	16.83%	62.01%	84.09%	-60.04%
Net Income (Continuing)	-23.07M	-31.82M	-58.79M	-63.13M	-236.02M	-196.29M	-74.56M	-11.86M	-18.98M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0
EPS (Diluted)	-1.32▲ 0%	-1.81▼ 37.1%	-3.63▼ 100.6%	-3.32▲ 8.5%	-11.26▼ 239.2%	-35.41▼ 214.5%	-11.45▲ 67.7%	-1.68▲ 85.3%	-2.39▼ 42.3%
EPS Growth %	-	-37.12%	-100.55%	8.54%	-239.16%	-214.48%	67.66%	85.33%	-42.26%
EPS (Basic)	-1.32	-1.81	-3.63	-3.32	-11.26	-35.41	-11.45	-1.68	-2.39
Diluted Shares Outstanding	17.54M	17.54M	16.2M	18.99M	20.84M	5.54M	6.51M	7.07M	7.93M
Basic Shares Outstanding	17.54M	17.54M	16.2M	18.99M	20.84M	5.54M	6.51M	7.07M	7.93M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-

ATER Balance Sheet

Aterian, Inc. (ATER) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Total Current Assets	30.23M	57.4M	73.02M	75.16M	124.87M	100.02M	49.64M	38.72M	24.07M
Cash & Short-Term Investments	5.3M	20.03M	30.35M	26.72M	30.32M	43.57M	20.02M	18M	4.86M
Cash Only	5.3M	20.03M	30.35M	26.72M	30.32M	43.57M	20.02M	18M	4.86M
Short-Term Investments	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.33M	1.4M	1.06M	5.75M	10.48M	4.51M	4.22M	3.78M	2.46M
Days Sales Outstanding	13.35	6.99	3.38	11.3	15.44	7.45	10.82	13.94	13.02
Inventory	20.58M	30.55M	36.21M	31.58M	63.05M	43.67M	20.39M	13.75M	13.78M
Days Inventory Outstanding	329.7	235.78	190.42	114.18	182.77	137.81	102.96	133.65	168.59
Other Current Assets	787K	2.7M	1.23M	4.51M	9.33M	4.35M	2.92M	1.61M	2.98M
Total Non-Current Assets	946K	605K	1.41M	82.3M	188.7M	56.42M	12.23M	10.82M	5.49M
Property, Plant & Equipment	494K	268K	175K	169K	1.25M	853K	775K	685K	729K
Fixed Asset Turnover	73.80x	273.43x	654.01x	1098.84x	197.58x	259.28x	183.96x	144.59x	94.62x
Goodwill	0	0	745K	47.32M	119.94M	0	0	0	0
Intangible Assets	0	0	310K	31.46M	64.95M	54.76M	11.32M	9.76M	4.37M
Long-Term Investments	250K	129K	129K	129K	0	129K	129K	130K	0
Other Non-Current Assets	202K	208K	175K	3.35M	2.55M	813K	9K	251K	389K
Total Assets	31.17M▲ 0%	58.01M▲ 86.1%	74.42M▲ 28.3%	157.45M▲ 111.6%	313.57M▲ 99.2%	156.44M▼ 50.1%	61.87M▼ 60.5%	49.54M▼ 19.9%	29.56M▼ 40.3%
Asset Turnover	1.17x	1.26x	1.54x	1.18x	0.79x	1.41x	2.30x	2.00x	2.33x
Asset Growth %	-	86.09%	28.3%	111.56%	99.15%	-50.11%	-60.45%	-19.92%	-40.33%
Total Current Liabilities	18.2M	39.56M	53.23M	74.73M	83.74M	53.03M	25.45M	19.3M	14.13M
Accounts Payable	7.98M	15.4M	21.06M	14.86M	21.72M	16.04M	4.19M	3.08M	3.12M
Days Payables Outstanding	127.92	118.88	110.77	53.71	62.96	50.61	21.16	29.94	38.18
Short-Term Debt	5.52M	14.45M	24.66M	50.02M	40.42M	22.75M	12.15M	7.41M	0
Deferred Revenue (Current)	0	707K	507K	0	0	0	0	0	0
Other Current Liabilities	699K	2.77M	1.07M	2.06M	4.74M	4.12M	8.97M	4.95M	14.13M
Current Ratio	1.66x	1.45x	1.37x	1.01x	1.49x	1.89x	1.95x	2.01x	1.70x
Quick Ratio	0.53x	0.68x	0.69x	0.58x	0.74x	1.06x	1.15x	1.29x	0.73x
Cash Conversion Cycle	215.13	123.89	83.03	71.77	135.25	94.66	92.62	117.64	143.43
Total Non-Current Liabilities	4.82M	13.07M	10.47M	59.34M	5.6M	1.45M	391K	227K	225K
Long-Term Debt	4.73M	13.05M	10.47M	36.48M	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	87K	26K	4K	22.86M	5.6M	1.45M	391K	227K	225K
Total Liabilities	23.02M	52.64M	63.7M	134.07M	89.34M	54.49M	25.84M	19.52M	14.35M
Total Debt	10.25M	27.5M	35.12M	86.5M	40.42M	22.75M	12.15M	7.41M	0
Net Debt	4.96M	7.47M	4.77M	59.79M	10.11M	-20.83M	-7.88M	-10.58M	-4.86M
Debt / Equity	1.26x	5.12x	3.27x	3.70x	0.18x	0.22x	0.34x	0.25x	-
Debt / EBITDA	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-0.41x
Interest Coverage	-54.70x	-12.50x	-11.99x	-6.90x	-2.57x	-66.08x	-35.85x	-9.71x	13.93x
Total Equity	8.15M▲ 0%	5.37M▼ 34.2%	10.73M▲ 99.8%	23.38M▲ 118.0%	224.23M▲ 859.0%	101.95M▼ 54.5%	36.03M▼ 64.7%	30.02M▼ 16.7%	15.21M▼ 49.3%
Equity Growth %	-	-34.16%	99.8%	117.97%	858.98%	-54.53%	-64.66%	-16.69%	-49.33%
Book Value per Share	0.46	0.31	0.66	1.23	10.76	18.39	5.53	4.25	1.92
Total Shareholders' Equity	8.15M	5.37M	10.73M	23.38M	224.23M	101.95M	36.03M	30.02M	15.21M
Common Stock	1K	1K	2K	3K	5K	8K	9K	9K	9K
Retained Earnings	-39.2M	-71.02M	-129.81M	-192.94M	-428.96M	-625.25M	-699.82M	-711.68M	-730.66M
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	-43K	40K	57K	9K	-468K	-1.14M	-838K	-906K	-552K
Minority Interest	0	0	0	0	0	0	0	0	0

ATER Cash Flow Statement

Aterian, Inc. (ATER) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	-28.76M	-30.34M	-25.2M	6.09M	-41.97M	-17.48M	-13.39M	2.17M	-10.89M
Operating CF Margin %	-78.88%	-41.41%	-22.02%	3.28%	-16.94%	-7.9%	-9.39%	2.19%	-15.8%
Operating CF Growth %	-	-5.51%	16.96%	124.17%	-789.03%	58.36%	23.4%	116.17%	-603.23%
Net Income	-23.07M	-31.82M	-58.79M	-63.13M	-236.02M	-196.29M	-74.56M	-11.86M	-18.98M
Depreciation & Amortization	258K	253K	183K	552K	7.33M	7.52M	3.89M	1.69M	1.62M
Stock-Based Compensation	1.05M	619K	34.68M	22.72M	28.99M	14.59M	8.34M	7.51M	2.18M
Deferred Taxes	119K	175K	0	0	0	0	-1.15M	-5K	0
Other Non-Cash Items	145K	757K	1.45M	37.47M	175.34M	137.01M	34.56M	-3.39M	4.29M
Working Capital Changes	-7.26M	-326K	-2.72M	8.48M	-17.59M	19.69M	15.54M	8.22M	0
Change in Receivables	-526K	-70K	309K	-4.7M	-4.55M	5.6M	205K	427K	1.47M
Change in Inventory	-15.65M	-9.97M	-5.36M	18.66M	-19.3M	19.44M	26.43M	9.38M	-794K
Change in Payables	10.94M	10.87M	3.33M	-6.99M	14.12M	-10.91M	-13.68M	-2.34M	-964K
Cash from Investing	-125K	-26K	-1.28M	-39.05M	-44.91M	-677K	-244K	-242K	-51K
Capital Expenditures	-125K	-61K	-114K	-89K	-32K	-82K	-119K	-42K	-51K
CapEx % of Revenue	0.34%	0.08%	0.1%	0.05%	0.01%	0.04%	0.08%	0.04%	0.07%
Acquisitions	0	0	0	-13.96M	-10.58M	0	0	-200K	0
Investments	-	-	-	-	-	-	-	-	-
Other Investing	0	35K	-1.17M	-25M	-34.29M	-595K	-125K	0	0
Cash from Financing	28.6M	45.29M	36.57M	32.32M	95.57M	27M	-11.11M	-4.91M	-2.52M
Debt Issued (Net)	10.6M	20.07M	6.44M	11.62M	36.87M	-15.64M	-11.05M	-4.93M	0
Equity Issued (Net)	19.11M	31.63M	36M	23.42M	36.73M	46.83M	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0
Other Financing	17.99M	25.22M	-5.88M	-2.72M	21.97M	-4.2M	-56K	18K	-2.52M
Net Change in Cash	-322K▲ 0%	14.91M▲ 4730.7%	10.08M▼ 32.4%	-692K▼ 106.9%	8.22M▲ 1287.6%	8.31M▲ 1.2%	-24.43M▼ 393.9%	-3.05M▲ 87.5%	-13.14M▼ 330.6%
Free Cash Flow	-28.88M▲ 0%	-30.41M▼ 5.3%	-25.31M▲ 16.7%	6M▲ 123.7%	-42M▼ 799.8%	-17.56M▲ 58.2%	-13.51M▲ 23.1%	2.12M▲ 115.7%	-10.95M▼ 615.6%
FCF Margin %	-79.22%	-41.49%	-22.12%	3.23%	-16.95%	-7.94%	-9.47%	2.14%	-15.87%
FCF Growth %	-	-5.27%	16.75%	123.71%	-799.78%	58.19%	23.08%	115.72%	-615.59%
FCF per Share	-1.65	-1.73	-1.56	0.32	-2.02	-3.17	-2.07	0.30	-1.38
FCF Conversion (FCF/Net Income)	1.25x	0.95x	0.43x	-0.10x	0.18x	0.09x	0.18x	-0.18x	0.57x
Interest Paid	213K	1.55M	3.2M	2.79M	5.61M	1.88M	1.72M	1.14M	0
Taxes Paid	5K	3K	21K	46K	41K	100K	94K	152K	0

ATER Key Ratios

Aterian, Inc. (ATER) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-282.89%	-470.65%	-730.48%	-370.14%	-190.64%	-120.36%	-108.08%	-35.92%	-83.95%
Return on Invested Capital (ROIC)	-129.26%	-170.12%	-287.6%	-52.83%	-16.1%	-84.71%	-104.58%	-37.27%	59.69%
Gross Margin	37.52%	35.46%	39.35%	45.63%	49.18%	47.71%	49.3%	62.09%	56.76%
Net Margin	-63.27%	-43.43%	-51.37%	-33.99%	-95.26%	-88.75%	-52.3%	-11.98%	-27.52%
Debt / Equity	1.26x	5.12x	3.27x	3.70x	0.18x	0.22x	0.34x	0.25x	-
Interest Coverage	-54.70x	-12.50x	-11.99x	-6.90x	-2.57x	-66.08x	-35.85x	-9.71x	13.93x
FCF Conversion	1.25x	0.95x	0.43x	-0.10x	0.18x	0.09x	0.18x	-0.18x	0.57x
Revenue Growth	-	100.99%	56.19%	62.26%	33.42%	-10.73%	-35.54%	-30.53%	-30.36%

ATER Frequently Asked Questions

Aterian, Inc. (ATER) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Aterian, Inc. (ATER) reported $69.0M in revenue for fiscal year 2025. This represents a 89% increase from $36.5M in 2017.

Aterian, Inc. (ATER) saw revenue decline by 30.4% over the past year.

Aterian, Inc. (ATER) reported a net loss of $19.0M for fiscal year 2025.

Dividend & Returns

Aterian, Inc. (ATER) has a return on equity (ROE) of -83.9%. Negative ROE indicates the company is unprofitable.

Aterian, Inc. (ATER) had negative free cash flow of $14.8M in fiscal year 2025, likely due to heavy capital investments.

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Aterian, Inc.(ATER)Earnings, Financials & Key Ratios

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