Business
Aterian Announces Preliminary Fourth Quarter & Full Year 2022 Net Revenue Results
Fourth Quarter 2022 Revenue Range $54.0 Million to $55.0 Million CEO to Take 80% of 2023 Base Salary in Restricted Aterian Common Stock NEW YORK, Jan. 17,
About this update from Aterian, Inc.
[{"type":"text","content":"Fourth Quarter 2022 Revenue Range $54.0 Million to $55.0 Million CEO to Take 80% of 2023 Base Salary in Restricted Aterian Common Stock NEW YORK, Jan. 17, 2023 (GLOBE NEWSWIRE) -- 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, belie...