Core Insights - Aterian, Inc. reported a significant improvement in its financial performance for the third quarter of 2024, with a net loss reduction of 71.7% year-over-year and an adjusted EBITDA profit for the second consecutive quarter, marking a 4.9millionimprovementyear−over−year[1][2].FinancialPerformance−Thirdquarter2024netrevenuedecreasedby34.026.2 million, down from 39.7millioninthesamequarterof2023,primarilyduetoareducedproductportfoliofromSKUrationalizationefforts[2].−Grossmarginforthethirdquarterof2024improvedto60.31.7) million, an improvement from a loss of (6.5)millioninthesamequarterof2023,representinga73.41.8) million, improved from a (6.3)millionlossinthethirdquarterof2023[2].−AdjustedEBITDAforthethirdquarterof2024improvedto0.5 million from a loss of (4.4)millioninthethirdquarterof2023,reflectinganimprovementof111.016.1 million [2]. Fourth Quarter Outlook - Management projects fourth quarter 2024 net revenue to be between 22.5millionand25.5 million, with adjusted EBITDA expected to be approximately break-even [3]. Company Overview - Aterian, Inc. is a technology-enabled consumer products company focused on building and acquiring leading e-commerce brands across various categories, including home and kitchen appliances, health and wellness, and air quality devices [6].
Aterian(ATER) GlobeNewswire News Room·2024-11-11 21:15