Aterian Announces Preliminary Fourth Quarter & Full Year 2022 Net Revenue Results
January 17 2023 - 7:00AM
Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”) today
announced preliminary net revenue results for the fourth quarter
and fiscal year 2022 ended December 31, 2022. The net revenue
information is based on preliminary data, which has not been
subjected to our normal year end closing and review procedures. The
Company expects to report its audited year end results in March
2023.
The Company expects fourth quarter net revenue
in the range of $54.0 million to $55.0 million and full year 2022
net revenue in the range of $220.0 million to $221.0
million.
“Our fourth quarter revenue was on the top end
of our previous projection and we believe Aterian is set up well
for a strong 2023,” commented Yaniv Sarig, CEO of Aterian. “We are
executing on our plan to liquidate higher cost inventory and
protect market share of our leading products in order to reach our
target sustainable contribution margin. We continue to believe we
are on the path to achieving Adjusted EBITDA profitability in the
second half of 2023. Further, as a testament to my confidence that
our trajectory is heading in the right direction, I have elected to
receive almost all of my 2023 base salary in Aterian’s stock.”
About Aterian, Inc.Aterian,
Inc. (Nasdaq: ATER) is a leading technology-enabled consumer
product platform that builds, acquires, and partners with
best-in-class e-commerce brands by harnessing proprietary software
and an agile supply chain to create top selling consumer products.
The Company’s cloud-based platform, Artificial Intelligence
Marketplace Ecommerce Engine (AIMEE™), leverages machine learning,
natural language processing and data analytics to streamline the
management of products at scale across the world's largest online
marketplaces with a focus on Amazon, Shopify and Walmart. Aterian
has thousands of SKUs across its many owned and operated brands and
sells products in multiple categories, including home and kitchen
appliances, health and wellness, beauty and consumer
electronics.
Forward Looking StatementsAll
statements other than statements of historical facts included in
this press release that address activities, events or developments
that we expect, believe or anticipate will or may occur in the
future are forward-looking statements including, in particular, the
statements regarding our expected net revenue range for the fourth
quarter of 2022; our target of achieving adjusted EBITDA
profitability in the second half of 2023; our ability to extend
market share and reduce costs; our expectations with respect to
contribution margin and adjusted EBITDA; and our ability to manage
our inventory, including through liquidation of inventory. These
forward-looking statements are based on management’s current
expectations and beliefs and are subject to a number of risks and
uncertainties and other factors, all of which are difficult to
predict and many of which are beyond our control and could cause
actual results to differ materially and adversely from those
described in the forward-looking statements. These risks include,
but are not limited to, those related to global shipping
disruptions; our ability to continue as a going concern; our
ability to meet financial covenants with our lenders; our ability
to create operating leverage and efficiency when integrating
companies that we acquire or have acquired, including through the
use of our team’s expertise, the economies of scale of our supply
chain and automation driven by our platform; our ability to grow
internationally and through the launch of products under our brands
and the acquisition of additional brands; the impact of COVID-19,
the war in the Ukraine, the rising tensions between China and
Taiwan and other macroeconomic factors, including their impact on
consumer demand, our cash flows, financial condition, forecasting
and revenue growth rate; our supply chain including sourcing,
manufacturing, warehousing and fulfillment; our ability to manage
expenses, working capital and capital expenditures efficiently; our
business model and our technology platform; the impact of
intangible assets such as goodwill, and other impairments;
disruptions to the Company's information technology systems,
including but not limited to potential or actual security breaches
of systems protecting consumer and employee information or other
types of cybercrimes or cybersecurity attacks; our ability to
disrupt the consumer products industry; our ability to maintain and
grow market share in existing and new product categories; our
ability to generate profitability and stockholder value;
international tariffs and trade measures; inventory management,
product liability claims, recalls or other safety and regulatory
concerns; reliance on third party online marketplaces; seasonal and
quarterly variations in our revenue and expenses; acquisitions of
other companies and technologies and our ability to successfully
integrate such companies and technologies with our business; our
ability to continue to access debt and equity capital (including on
terms advantageous to the Company) and the extent of our leverage;
and other factors discussed in the “Risk Factors” section of our
most recent periodic reports filed with the Securities and Exchange
Commission (“SEC”), all of which you may obtain for free on the
SEC’s website at www.sec.gov.
Although we believe that the expectations
reflected in our forward-looking statements are reasonable, we do
not know whether our expectations will prove correct. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof, even if
subsequently made available by us on our website or otherwise. We
do not undertake any obligation to update, amend or clarify these
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
Investor Contact:
Ilya Grozovsky
Vice President of Investor Relations & Corp. Development
Aterian, Inc.
ilya@aterian.io
917-905-1699
Aterian (NASDAQ:ATER)
Historical Stock Chart
From Mar 2024 to Apr 2024
Aterian (NASDAQ:ATER)
Historical Stock Chart
From Apr 2023 to Apr 2024