ATER - Aterian shares erode on earnings miss cloudy forecast
Aterian (NASDAQ:ATER) shares slipped on Tuesday after a big miss on profitability and revoked guidance in its Monday evening earnings release. The New York-based eCommerce data and technology company reported non-GAAP EPS of -$0.78, a whopping 52 cents below the expected loss. Revenue also narrowly missed estimates while contribution margin declined by 150 basis points due to supply chain and inflation pressures. “We expect to see these impacts continue in the current quarter,” CFO Arturo Rodriguez lamented in a call with analysts on Monday evening. “While we continue to look for ways to mitigate higher cost dynamics in our supply chain and last mile cost, we believe we’ll continue to see [contribution margin] pressures for 2022 due to inflationary cost increases.” Rodriguez added that supply, inflation, and geopolitical pressures continue to cloud the company’s ability to forecast into coming quarters. As such, the company chose not to provide full year
For further details see:
Aterian shares erode on earnings miss, cloudy forecast