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Side-by-side financial comparison of Aterian, Inc. (ATER) and FENNEC PHARMACEUTICALS INC. (FENC). Click either name above to swap in a different company.
Aterian, Inc. is the larger business by last-quarter revenue ($15.1M vs $13.8M, roughly 1.1× FENNEC PHARMACEUTICALS INC.). FENNEC PHARMACEUTICALS INC. runs the higher net margin — -34.7% vs -52.5%, a 17.8% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs -38.5%). Over the past eight quarters, Aterian, Inc.'s revenue compounded faster (-13.5% CAGR vs -26.3%).
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.
Fennec Pharmaceuticals Inc. is a biopharmaceutical firm focused on developing and commercializing therapies to reduce treatment-related side effects in pediatric cancer patients. Its lead product targets chemotherapy-induced ototoxicity, with core North American markets serving oncology providers and vulnerable pediatric patient groups.
ATER vs FENC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.1M | $13.8M |
| Net Profit | $-7.9M | $-4.8M |
| Gross Margin | 56.1% | — |
| Operating Margin | -51.1% | -18.5% |
| Net Margin | -52.5% | -34.7% |
| Revenue YoY | -38.5% | 73.8% |
| Net Profit YoY | -512.2% | -141.1% |
| EPS (diluted) | — | $-0.17 |
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.
| Q4 25 | $15.1M | $13.8M | ||
| Q3 25 | $19.0M | $12.5M | ||
| Q2 25 | $19.5M | $9.7M | ||
| Q1 25 | $15.4M | $8.8M | ||
| Q4 24 | $24.6M | $7.9M | ||
| Q3 24 | $26.2M | $7.0M | ||
| Q2 24 | $28.0M | $7.3M | ||
| Q1 24 | $20.2M | $25.4M |
| Q4 25 | $-7.9M | $-4.8M | ||
| Q3 25 | $-2.3M | $-638.0K | ||
| Q2 25 | $-4.9M | $-3.2M | ||
| Q1 25 | $-3.9M | $-1.2M | ||
| Q4 24 | $-1.3M | $-2.0M | ||
| Q3 24 | $-1.8M | $-5.7M | ||
| Q2 24 | $-3.6M | $-5.6M | ||
| Q1 24 | $-5.2M | $12.8M |
| 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% | — |
| Q4 25 | -51.1% | -18.5% | ||
| Q3 25 | -10.7% | -1.5% | ||
| Q2 25 | -23.1% | -28.3% | ||
| Q1 25 | -24.1% | -9.2% | ||
| Q4 24 | -6.5% | -11.8% | ||
| Q3 24 | -6.6% | -74.6% | ||
| Q2 24 | -11.5% | -69.4% | ||
| Q1 24 | -26.1% | 54.2% |
| Q4 25 | -52.5% | -34.7% | ||
| Q3 25 | -12.0% | -5.1% | ||
| Q2 25 | -25.0% | -32.7% | ||
| Q1 25 | -25.4% | -13.3% | ||
| Q4 24 | -5.3% | -25.0% | ||
| Q3 24 | -6.8% | -82.2% | ||
| Q2 24 | -13.0% | -76.5% | ||
| Q1 24 | -25.5% | 50.6% |
| Q4 25 | — | $-0.17 | ||
| Q3 25 | — | $-0.02 | ||
| Q2 25 | — | $-0.11 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | — | $-0.02 | ||
| Q3 24 | — | $-0.21 | ||
| Q2 24 | — | $-0.20 | ||
| Q1 24 | — | $0.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.9M | $36.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $15.2M | $35.5M |
| Total Assets | $29.6M | $70.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $36.8M | ||
| Q3 25 | $7.6M | $21.9M | ||
| Q2 25 | $10.5M | $18.7M | ||
| Q1 25 | $14.3M | $22.7M | ||
| Q4 24 | $18.0M | $26.6M | ||
| Q3 24 | $16.1M | $40.3M | ||
| Q2 24 | $20.3M | $43.1M | ||
| Q1 24 | $17.5M | $51.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | $19.4M | ||
| Q2 25 | — | $19.4M | ||
| Q1 25 | — | $19.4M | ||
| Q4 24 | — | $19.3M | ||
| Q3 24 | — | $32.1M | ||
| Q2 24 | — | $31.8M | ||
| Q1 24 | — | $31.3M |
| Q4 25 | $15.2M | $35.5M | ||
| Q3 25 | $22.6M | $-4.5M | ||
| Q2 25 | $24.3M | $-7.5M | ||
| Q1 25 | $27.0M | $-5.9M | ||
| Q4 24 | $30.0M | $-5.9M | ||
| Q3 24 | $30.6M | $-5.2M | ||
| Q2 24 | $30.9M | $-1.4M | ||
| Q1 24 | $33.0M | $3.0M |
| Q4 25 | $29.6M | $70.6M | ||
| Q3 25 | $40.1M | $49.3M | ||
| Q2 25 | $45.4M | $44.9M | ||
| Q1 25 | $49.8M | $46.4M | ||
| Q4 24 | $49.5M | $44.9M | ||
| Q3 24 | $52.1M | $58.9M | ||
| Q2 24 | $59.9M | $63.2M | ||
| Q1 24 | $55.7M | $69.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 10.40× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.0M | $-6.0M |
| 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.
| Q4 25 | $-1.0M | $-6.0M | ||
| Q3 25 | $-1.6M | $1.5M | ||
| Q2 25 | $-4.4M | $-3.7M | ||
| Q1 25 | $-3.9M | $-4.3M | ||
| Q4 24 | $-9.0K | $-1.5M | ||
| Q3 24 | $-722.0K | $-2.2M | ||
| Q2 24 | $2.9M | $-8.4M | ||
| Q1 24 | $-6.0K | $39.0M |
| 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 | — |
| 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% | — |
| 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% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 3.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATER
| Sales Channel Directly To Consumer | $13.1M | 87% |
| Heating Cooling And Air Quality | $2.1M | 14% |
FENC
Segment breakdown not available.
