Aterian, Inc. (ATER) is up 21.71% in the after-hours trading session at the price of $7.40 despite any recent news.
ATER Published Second Quarter 2021 Financial Results
On 9th August 2021, ATER declared results for the second quarter ended on 30th June 2021. ATER is a leading technology-enabled consumer products platform. It develops, acquires, and partners with best-in-class e-commerce brands. It provides proprietary software and an active supply chain to deliver top-selling consumer products.
CEO of ATER, Yaniv Sarig, remarked that this had been a challenging quarter for e-commerce due to the global supply sought-after, inflation and an extreme shift in consumer behavior. Despite the difficult circumstances and significant growth in product variable cost, their sales grew on average 20% on a proforma basis across all fourteen brands compared to the Q2 2019. They remain confident about their best performance in class platform to execute the strategy of building the e-commerce consumer company of the future, despite the temporary global shipping crisis. They are committed to adapting their business to the current situation and emerging more resilient and better positioned to benefit from the massive long-term expected TAM of global e-commerce, he added.
Second Quarter 2021 Financial Highlights
ATER reported a net loss of $36.3 million. It contains $23.3 million benefits from the change in fair value of earnout liabilities, $29.8 million loss from extinguishment of debt, a $4.4 million loss from the change in fair value of warrants, and a $1.9 million charge affiliated with a derivative liability from their term loan. The net loss was $2.9 million in the same quarter the previous year. Operating expenses for the second quarter of 2021 were $28.3 million, a $29.4 million drop compared to the same quarter the prior year. Operating expenses for the second quarter of 2021 include $23.3 million of benefit from the change in fair value of the earnout liabilities.
ATER reported net revenue of $68.2 million, a 14% gain year over year, for the second quarter of 2021. It reported net revenue of $59.8 million in the second quarter of 2020. Operating income raised to $4.5 million. It includes $23.3 million of benefit from the change in fair value of earnout liabilities. Operating loss was $1.8 million in the same quarter of 2020. The gross margin increased to 48.0% in the second quarter of 2021. The gross margin was 46.2% in the same quarter the previous year. Adjusted EBITDA declined to a loss of $3.7 million for the second quarter of 2021. It had a gain of $3.4 million in the same quarter the previous year.
