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Side-by-side financial comparison of Aterian, Inc. (ATER) and Pulmonx Corp (LUNG). Click either name above to swap in a different company.
Pulmonx Corp is the larger business by last-quarter revenue ($20.6M vs $15.1M, roughly 1.4× Aterian, Inc.). Aterian, Inc. runs the higher net margin — -52.5% vs -66.3%, a 13.8% gap on every dollar of revenue. On growth, Pulmonx Corp posted the faster year-over-year revenue change (-8.7% vs -38.5%). Over the past eight quarters, Pulmonx Corp's revenue compounded faster (-0.5% CAGR vs -13.5%).
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.
Pulmonx Corp is a global medical tech firm focused on interventional pulmonology solutions. It develops minimally invasive endobronchial valves to treat severe COPD and emphysema, with products sold across North America, Europe, and Asia-Pacific for patients with advanced lung conditions.
ATER vs LUNG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.1M | $20.6M |
| Net Profit | $-7.9M | $-13.7M |
| Gross Margin | 56.1% | 77.9% |
| Operating Margin | -51.1% | -40.9% |
| Net Margin | -52.5% | -66.3% |
| Revenue YoY | -38.5% | -8.7% |
| Net Profit YoY | -512.2% | 5.5% |
| EPS (diluted) | — | $-0.33 |
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.
| Q1 26 | — | $20.6M | ||
| Q4 25 | $15.1M | $22.6M | ||
| Q3 25 | $19.0M | $21.5M | ||
| Q2 25 | $19.5M | $23.9M | ||
| Q1 25 | $15.4M | $22.5M | ||
| Q4 24 | $24.6M | $23.8M | ||
| Q3 24 | $26.2M | $20.4M | ||
| Q2 24 | $28.0M | $20.8M |
| Q1 26 | — | $-13.7M | ||
| Q4 25 | $-7.9M | $-10.4M | ||
| Q3 25 | $-2.3M | $-14.0M | ||
| Q2 25 | $-4.9M | $-15.2M | ||
| Q1 25 | $-3.9M | $-14.4M | ||
| Q4 24 | $-1.3M | $-13.2M | ||
| Q3 24 | $-1.8M | $-14.1M | ||
| Q2 24 | $-3.6M | $-15.3M |
| Q1 26 | — | 77.9% | ||
| Q4 25 | 56.1% | 77.6% | ||
| Q3 25 | 56.1% | 74.7% | ||
| Q2 25 | 54.3% | 72.1% | ||
| Q1 25 | 61.4% | 72.5% | ||
| Q4 24 | 63.4% | 74.0% | ||
| Q3 24 | 60.3% | 73.7% | ||
| Q2 24 | 60.4% | 73.7% |
| Q1 26 | — | -40.9% | ||
| Q4 25 | -51.1% | -43.8% | ||
| Q3 25 | -10.7% | -66.9% | ||
| Q2 25 | -23.1% | -62.0% | ||
| Q1 25 | -24.1% | -64.6% | ||
| Q4 24 | -6.5% | -56.5% | ||
| Q3 24 | -6.6% | -69.3% | ||
| Q2 24 | -11.5% | -75.2% |
| Q1 26 | — | -66.3% | ||
| Q4 25 | -52.5% | -46.1% | ||
| Q3 25 | -12.0% | -64.9% | ||
| Q2 25 | -25.0% | -63.6% | ||
| Q1 25 | -25.4% | -64.1% | ||
| Q4 24 | -5.3% | -55.4% | ||
| Q3 24 | -6.8% | -69.4% | ||
| Q2 24 | -13.0% | -73.7% |
| Q1 26 | — | $-0.33 | ||
| Q4 25 | — | $-0.25 | ||
| Q3 25 | — | $-0.34 | ||
| Q2 25 | — | $-0.38 | ||
| Q1 25 | — | $-0.36 | ||
| Q4 24 | — | $-0.33 | ||
| Q3 24 | — | $-0.36 | ||
| Q2 24 | — | $-0.39 |
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 | $61.6M |
| Total DebtLower is stronger | — | $37.3M |
| Stockholders' EquityBook value | $15.2M | $45.8M |
| Total Assets | $29.6M | $120.0M |
| Debt / EquityLower = less leverage | — | 0.82× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $61.6M | ||
| Q4 25 | $4.9M | $69.8M | ||
| Q3 25 | $7.6M | $76.5M | ||
| Q2 25 | $10.5M | $75.5M | ||
| Q1 25 | $14.3M | $74.6M | ||
| Q4 24 | $18.0M | $70.9M | ||
| Q3 24 | $16.1M | $63.3M | ||
| Q2 24 | $20.3M | $63.5M |
| Q1 26 | — | $37.3M | ||
| Q4 25 | — | $37.1M | ||
| Q3 25 | — | $37.1M | ||
| Q2 25 | — | $37.1M | ||
| Q1 25 | — | $37.2M | ||
| Q4 24 | — | $37.2M | ||
| Q3 24 | — | $37.2M | ||
| Q2 24 | — | $37.2M |
| Q1 26 | — | $45.8M | ||
| Q4 25 | $15.2M | $54.1M | ||
| Q3 25 | $22.6M | $60.0M | ||
| Q2 25 | $24.3M | $69.1M | ||
| Q1 25 | $27.0M | $77.7M | ||
| Q4 24 | $30.0M | $85.8M | ||
| Q3 24 | $30.6M | $93.9M | ||
| Q2 24 | $30.9M | $101.2M |
| Q1 26 | — | $120.0M | ||
| Q4 25 | $29.6M | $129.3M | ||
| Q3 25 | $40.1M | $138.3M | ||
| Q2 25 | $45.4M | $147.2M | ||
| Q1 25 | $49.8M | $150.7M | ||
| Q4 24 | $49.5M | $162.8M | ||
| Q3 24 | $52.1M | $167.4M | ||
| Q2 24 | $59.9M | $172.6M |
| Q1 26 | — | 0.82× | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.62× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.37× |
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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $-1.0M | $-7.1M | ||
| Q3 25 | $-1.6M | $-8.2M | ||
| Q2 25 | $-4.4M | $-3.9M | ||
| Q1 25 | $-3.9M | $-13.2M | ||
| Q4 24 | $-9.0K | $-6.7M | ||
| Q3 24 | $-722.0K | $-7.2M | ||
| Q2 24 | $2.9M | $-5.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-1.0M | $-7.1M | ||
| Q3 25 | $-1.6M | $-8.3M | ||
| Q2 25 | $-4.4M | $-4.0M | ||
| Q1 25 | — | $-13.5M | ||
| Q4 24 | — | $-6.8M | ||
| Q3 24 | — | $-7.7M | ||
| Q2 24 | $2.9M | $-6.2M |
| Q1 26 | — | — | ||
| Q4 25 | -6.9% | -31.4% | ||
| Q3 25 | -8.4% | -38.4% | ||
| Q2 25 | -22.7% | -16.6% | ||
| Q1 25 | — | -60.0% | ||
| Q4 24 | — | -28.8% | ||
| Q3 24 | — | -37.6% | ||
| Q2 24 | 10.3% | -30.0% |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 0.1% | ||
| Q3 25 | 0.2% | 0.4% | ||
| Q2 25 | 0.0% | 0.2% | ||
| Q1 25 | 0.0% | 1.3% | ||
| Q4 24 | 0.0% | 0.5% | ||
| Q3 24 | 0.0% | 2.0% | ||
| Q2 24 | 0.0% | 2.3% |
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% |
LUNG
Segment breakdown not available.
