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Side-by-side financial comparison of Aterian, Inc. (ATER) and CollPlant Biotechnologies Ltd (CLGN). Click either name above to swap in a different company.

Aterian, Inc. is the larger business by last-quarter revenue ($15.1M vs $10.2M, roughly 1.5× CollPlant Biotechnologies Ltd). CollPlant Biotechnologies Ltd runs the higher net margin — 56.6% vs -52.5%, a 109.1% gap on every dollar of revenue. On growth, CollPlant Biotechnologies Ltd posted the faster year-over-year revenue change (15330.3% vs -38.5%).

Aterian, Inc. is a technology-enabled consumer products company that leverages artificial intelligence and data analytics to identify market demand, develop, source and distribute a wide portfolio of affordable goods spanning home improvement, wellness, personal care, pet supplies and outdoor recreation. It primarily sells its products through leading global e-commerce platforms, with core markets covering North America and Europe.

CollPlant Biotechnologies Ltd is a regenerative medicine company focused on developing and commercializing advanced products using its proprietary plant-derived human collagen technology. Its core offerings cover wound care, soft tissue repair, and aesthetic medicine solutions, targeting key markets across North America, Europe, and Israel, serving healthcare providers in dermatology, orthopedics and cosmetic care segments.

ATER vs CLGN — Head-to-Head

Bigger by revenue
ATER
ATER
1.5× larger
ATER
$15.1M
$10.2M
CLGN
Growing faster (revenue YoY)
CLGN
CLGN
+15368.8% gap
CLGN
15330.3%
-38.5%
ATER
Higher net margin
CLGN
CLGN
109.1% more per $
CLGN
56.6%
-52.5%
ATER

Income Statement — Q4 FY2025 vs Q2 FY2023

Metric
ATER
ATER
CLGN
CLGN
Revenue
$15.1M
$10.2M
Net Profit
$-7.9M
$5.8M
Gross Margin
56.1%
94.0%
Operating Margin
-51.1%
55.7%
Net Margin
-52.5%
56.6%
Revenue YoY
-38.5%
15330.3%
Net Profit YoY
-512.2%
234.5%
EPS (diluted)
$0.49

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ATER
ATER
CLGN
CLGN
Q4 25
$15.1M
Q3 25
$19.0M
Q2 25
$19.5M
Q1 25
$15.4M
Q4 24
$24.6M
Q3 24
$26.2M
Q2 24
$28.0M
Q1 24
$20.2M
Net Profit
ATER
ATER
CLGN
CLGN
Q4 25
$-7.9M
Q3 25
$-2.3M
Q2 25
$-4.9M
Q1 25
$-3.9M
Q4 24
$-1.3M
Q3 24
$-1.8M
Q2 24
$-3.6M
Q1 24
$-5.2M
Gross Margin
ATER
ATER
CLGN
CLGN
Q4 25
56.1%
Q3 25
56.1%
Q2 25
54.3%
Q1 25
61.4%
Q4 24
63.4%
Q3 24
60.3%
Q2 24
60.4%
Q1 24
65.1%
Operating Margin
ATER
ATER
CLGN
CLGN
Q4 25
-51.1%
Q3 25
-10.7%
Q2 25
-23.1%
Q1 25
-24.1%
Q4 24
-6.5%
Q3 24
-6.6%
Q2 24
-11.5%
Q1 24
-26.1%
Net Margin
ATER
ATER
CLGN
CLGN
Q4 25
-52.5%
Q3 25
-12.0%
Q2 25
-25.0%
Q1 25
-25.4%
Q4 24
-5.3%
Q3 24
-6.8%
Q2 24
-13.0%
Q1 24
-25.5%

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ATER
ATER
CLGN
CLGN
Cash + ST InvestmentsLiquidity on hand
$4.9M
$22.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$15.2M
$36.0M
Total Assets
$29.6M
$41.6M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ATER
ATER
CLGN
CLGN
Q4 25
$4.9M
Q3 25
$7.6M
Q2 25
$10.5M
Q1 25
$14.3M
Q4 24
$18.0M
Q3 24
$16.1M
Q2 24
$20.3M
Q1 24
$17.5M
Stockholders' Equity
ATER
ATER
CLGN
CLGN
Q4 25
$15.2M
Q3 25
$22.6M
Q2 25
$24.3M
Q1 25
$27.0M
Q4 24
$30.0M
Q3 24
$30.6M
Q2 24
$30.9M
Q1 24
$33.0M
Total Assets
ATER
ATER
CLGN
CLGN
Q4 25
$29.6M
Q3 25
$40.1M
Q2 25
$45.4M
Q1 25
$49.8M
Q4 24
$49.5M
Q3 24
$52.1M
Q2 24
$59.9M
Q1 24
$55.7M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ATER
ATER
CLGN
CLGN
Operating Cash FlowLast quarter
$-1.0M
Free Cash FlowOCF − Capex
$-1.0M
FCF MarginFCF / Revenue
-6.9%
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ATER
ATER
CLGN
CLGN
Q4 25
$-1.0M
Q3 25
$-1.6M
Q2 25
$-4.4M
Q1 25
$-3.9M
Q4 24
$-9.0K
Q3 24
$-722.0K
Q2 24
$2.9M
Q1 24
$-6.0K
Free Cash Flow
ATER
ATER
CLGN
CLGN
Q4 25
$-1.0M
Q3 25
$-1.6M
Q2 25
$-4.4M
Q1 25
Q4 24
Q3 24
Q2 24
$2.9M
Q1 24
$-42.0K
FCF Margin
ATER
ATER
CLGN
CLGN
Q4 25
-6.9%
Q3 25
-8.4%
Q2 25
-22.7%
Q1 25
Q4 24
Q3 24
Q2 24
10.3%
Q1 24
-0.2%
Capex Intensity
ATER
ATER
CLGN
CLGN
Q4 25
0.0%
Q3 25
0.2%
Q2 25
0.0%
Q1 25
0.0%
Q4 24
0.0%
Q3 24
0.0%
Q2 24
0.0%
Q1 24
0.2%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

ATER
ATER

Sales Channel Directly To Consumer$13.1M87%
Heating Cooling And Air Quality$2.1M14%

CLGN
CLGN

Segment breakdown not available.

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