ATER - Aterian tops revenue estimates with strong margins; shares up 15%

Aterian (NASDAQ:ATER) reported Q3 beat with revenue up 16% on the year to $68.12, compared to the consensus of $63.03M. Net loss was $(110.6)M, including a $(107.0)M loss from extinguishment of debt, a $8.1M gain from the change in fair value of warrants, and a $(1.4)M gain associated with a derivative liability from our term loan. Gross margin improved to 50.2% compared to 47.8% in the third quarter of 2020. Adjusted EBITDA of $0.7M decreased compared to $5.1M in the third quarter of 2020. Total cash balance at September 30, 2021 decreased by $24.4M from June 30, 2021 to $37.5M. "In July of this year, the price of shipping containers from China to the United States skyrocketed to over $20,000. This left us in a challenging situation and we were forced to raise prices to offset our costs at the expense of our sales volume and margins..." "Although the risks

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Aterian tops revenue estimates with strong margins; shares up 15%