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Side-by-side financial comparison of Aterian, Inc. (ATER) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
Aterian, Inc. is the larger business by last-quarter revenue ($15.1M vs $14.9M, roughly 1.0× EVERSPIN TECHNOLOGIES INC.). EVERSPIN TECHNOLOGIES INC. runs the higher net margin — -2.0% vs -52.5%, a 50.5% gap on every dollar of revenue. On growth, EVERSPIN TECHNOLOGIES INC. posted the faster year-over-year revenue change (13.2% vs -38.5%). Over the past eight quarters, EVERSPIN TECHNOLOGIES INC.'s revenue compounded faster (18.2% 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.
Everspin Technologies, Inc. is a publicly traded semiconductor company headquartered in Chandler, Arizona, United States. It develops and manufactures discrete magnetoresistive RAM or magnetoresistive random-access memory (MRAM) products, including Toggle MRAM and Spin-Transfer Torque MRAM (STT-MRAM) product families. It also licenses its technology for use in embedded MRAM (eMRAM) applications, magnetic sensor applications as well as performs backend foundry services for eMRAM.
ATER vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.1M | $14.9M |
| Net Profit | $-7.9M | $-296.0K |
| Gross Margin | 56.1% | 52.7% |
| Operating Margin | -51.1% | 29.0% |
| Net Margin | -52.5% | -2.0% |
| Revenue YoY | -38.5% | 13.2% |
| Net Profit YoY | -512.2% | — |
| EPS (diluted) | — | $-0.01 |
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 | — | $14.9M | ||
| Q4 25 | $15.1M | $14.8M | ||
| Q3 25 | $19.0M | $14.1M | ||
| Q2 25 | $19.5M | $13.2M | ||
| Q1 25 | $15.4M | $13.1M | ||
| Q4 24 | $24.6M | $13.2M | ||
| Q3 24 | $26.2M | $12.1M | ||
| Q2 24 | $28.0M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $-7.9M | $1.2M | ||
| Q3 25 | $-2.3M | $54.0K | ||
| Q2 25 | $-4.9M | $-670.0K | ||
| Q1 25 | $-3.9M | $-1.2M | ||
| Q4 24 | $-1.3M | $1.2M | ||
| Q3 24 | $-1.8M | $2.3M | ||
| Q2 24 | $-3.6M | $-2.5M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | 56.1% | 50.8% | ||
| Q3 25 | 56.1% | 51.3% | ||
| Q2 25 | 54.3% | 51.3% | ||
| Q1 25 | 61.4% | 51.4% | ||
| Q4 24 | 63.4% | 51.3% | ||
| Q3 24 | 60.3% | 49.2% | ||
| Q2 24 | 60.4% | 49.0% |
| Q1 26 | — | 29.0% | ||
| Q4 25 | -51.1% | -7.2% | ||
| Q3 25 | -10.7% | -11.0% | ||
| Q2 25 | -23.1% | -14.9% | ||
| Q1 25 | -24.1% | -14.7% | ||
| Q4 24 | -6.5% | -11.8% | ||
| Q3 24 | -6.6% | -17.5% | ||
| Q2 24 | -11.5% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | -52.5% | 8.1% | ||
| Q3 25 | -12.0% | 0.4% | ||
| Q2 25 | -25.0% | -5.1% | ||
| Q1 25 | -25.4% | -8.9% | ||
| Q4 24 | -5.3% | 9.2% | ||
| Q3 24 | -6.8% | 18.8% | ||
| Q2 24 | -13.0% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | — | $0.05 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.03 | ||
| Q1 25 | — | $-0.05 | ||
| Q4 24 | — | $0.07 | ||
| Q3 24 | — | $0.10 | ||
| Q2 24 | — | $-0.12 |
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 | $40.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $15.2M | $70.2M |
| Total Assets | $29.6M | $83.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $4.9M | $44.5M | ||
| Q3 25 | $7.6M | $45.3M | ||
| Q2 25 | $10.5M | $45.0M | ||
| Q1 25 | $14.3M | $42.2M | ||
| Q4 24 | $18.0M | $42.1M | ||
| Q3 24 | $16.1M | $39.6M | ||
| Q2 24 | $20.3M | $36.8M |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $15.2M | $68.9M | ||
| Q3 25 | $22.6M | $65.8M | ||
| Q2 25 | $24.3M | $64.1M | ||
| Q1 25 | $27.0M | $63.0M | ||
| Q4 24 | $30.0M | $62.6M | ||
| Q3 24 | $30.6M | $59.3M | ||
| Q2 24 | $30.9M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $29.6M | $84.6M | ||
| Q3 25 | $40.1M | $80.3M | ||
| Q2 25 | $45.4M | $78.9M | ||
| Q1 25 | $49.8M | $80.2M | ||
| Q4 24 | $49.5M | $77.8M | ||
| Q3 24 | $52.1M | $72.6M | ||
| Q2 24 | $59.9M | $64.6M |
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 | $570.0K |
| 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 | — | $570.0K | ||
| Q4 25 | $-1.0M | $2.6M | ||
| Q3 25 | $-1.6M | $881.0K | ||
| Q2 25 | $-4.4M | $5.0M | ||
| Q1 25 | $-3.9M | $1.4M | ||
| Q4 24 | $-9.0K | $3.8M | ||
| Q3 24 | $-722.0K | $2.8M | ||
| Q2 24 | $2.9M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-1.0M | $-975.0K | ||
| Q3 25 | $-1.6M | $543.0K | ||
| Q2 25 | $-4.4M | $3.0M | ||
| Q1 25 | — | $527.0K | ||
| Q4 24 | — | $2.1M | ||
| Q3 24 | — | $2.8M | ||
| Q2 24 | $2.9M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | -6.9% | -6.6% | ||
| Q3 25 | -8.4% | 3.9% | ||
| Q2 25 | -22.7% | 22.9% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 15.8% | ||
| Q3 24 | — | 22.9% | ||
| Q2 24 | 10.3% | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 24.3% | ||
| Q3 25 | 0.2% | 2.4% | ||
| Q2 25 | 0.0% | 15.1% | ||
| Q1 25 | 0.0% | 6.9% | ||
| Q4 24 | 0.0% | 13.2% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.0% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.19× | ||
| Q3 25 | — | 16.31× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.16× | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | — | — |
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% |
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
