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Side-by-side financial comparison of Aterian, Inc. (ATER) and NextPlat Corp (NXPL). Click either name above to swap in a different company.
Aterian, Inc. is the larger business by last-quarter revenue ($15.1M vs $12.8M, roughly 1.2× NextPlat Corp). NextPlat Corp runs the higher net margin — -40.2% vs -52.5%, a 12.3% gap on every dollar of revenue. On growth, NextPlat Corp posted the faster year-over-year revenue change (-21.1% vs -38.5%). NextPlat Corp produced more free cash flow last quarter ($-339.0K vs $-1.0M). Over the past eight quarters, Aterian, Inc.'s revenue compounded faster (-13.5% CAGR vs -14.4%).
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.
ATER vs NXPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.1M | $12.8M |
| Net Profit | $-7.9M | $-5.1M |
| Gross Margin | 56.1% | 14.3% |
| Operating Margin | -51.1% | -28.9% |
| Net Margin | -52.5% | -40.2% |
| Revenue YoY | -38.5% | -21.1% |
| Net Profit YoY | -512.2% | -70.6% |
| EPS (diluted) | — | — |
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 | $12.8M | ||
| Q3 25 | $19.0M | $13.8M | ||
| Q2 25 | $19.5M | $13.2M | ||
| Q1 25 | $15.4M | $14.5M | ||
| Q4 24 | $24.6M | $16.2M | ||
| Q3 24 | $26.2M | $15.4M | ||
| Q2 24 | $28.0M | $17.0M | ||
| Q1 24 | $20.2M | $17.5M |
| Q4 25 | $-7.9M | $-5.1M | ||
| Q3 25 | $-2.3M | $-2.2M | ||
| Q2 25 | $-4.9M | $-1.8M | ||
| Q1 25 | $-3.9M | $-1.3M | ||
| Q4 24 | $-1.3M | $-3.0M | ||
| Q3 24 | $-1.8M | $-4.2M | ||
| Q2 24 | $-3.6M | $-5.3M | ||
| Q1 24 | $-5.2M | $-1.5M |
| Q4 25 | 56.1% | 14.3% | ||
| Q3 25 | 56.1% | 19.9% | ||
| Q2 25 | 54.3% | 21.8% | ||
| Q1 25 | 61.4% | 23.8% | ||
| Q4 24 | 63.4% | 16.8% | ||
| Q3 24 | 60.3% | 23.2% | ||
| Q2 24 | 60.4% | 34.5% | ||
| Q1 24 | 65.1% | 27.8% |
| Q4 25 | -51.1% | -28.9% | ||
| Q3 25 | -10.7% | -14.5% | ||
| Q2 25 | -23.1% | -13.8% | ||
| Q1 25 | -24.1% | -10.2% | ||
| Q4 24 | -6.5% | -14.1% | ||
| Q3 24 | -6.6% | -52.1% | ||
| Q2 24 | -11.5% | -64.1% | ||
| Q1 24 | -26.1% | -10.5% |
| Q4 25 | -52.5% | -40.2% | ||
| Q3 25 | -12.0% | -15.9% | ||
| Q2 25 | -25.0% | -13.5% | ||
| Q1 25 | -25.4% | -9.2% | ||
| Q4 24 | -5.3% | -18.6% | ||
| Q3 24 | -6.8% | -27.4% | ||
| Q2 24 | -13.0% | -31.3% | ||
| Q1 24 | -25.5% | -8.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-0.05 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.22 | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-0.08 |
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 | $13.7M |
| Total DebtLower is stronger | — | $1.3M |
| Stockholders' EquityBook value | $15.2M | $17.3M |
| Total Assets | $29.6M | $27.5M |
| Debt / EquityLower = less leverage | — | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $13.7M | ||
| Q3 25 | $7.6M | $13.9M | ||
| Q2 25 | $10.5M | $16.6M | ||
| Q1 25 | $14.3M | $17.7M | ||
| Q4 24 | $18.0M | $20.0M | ||
| Q3 24 | $16.1M | $20.4M | ||
| Q2 24 | $20.3M | $24.9M | ||
| Q1 24 | $17.5M | $23.5M |
| Q4 25 | — | $1.3M | ||
| Q3 25 | — | $1.2M | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | — | $1.3M | ||
| Q4 24 | — | $1.4M | ||
| Q3 24 | — | $1.5M | ||
| Q2 24 | — | $1.3M | ||
| Q1 24 | — | $1.4M |
| Q4 25 | $15.2M | $17.3M | ||
| Q3 25 | $22.6M | $21.4M | ||
| Q2 25 | $24.3M | $23.5M | ||
| Q1 25 | $27.0M | $25.3M | ||
| Q4 24 | $30.0M | $27.3M | ||
| Q3 24 | $30.6M | $22.5M | ||
| Q2 24 | $30.9M | $26.5M | ||
| Q1 24 | $33.0M | $31.2M |
| Q4 25 | $29.6M | $27.5M | ||
| Q3 25 | $40.1M | $30.0M | ||
| Q2 25 | $45.4M | $31.0M | ||
| Q1 25 | $49.8M | $35.2M | ||
| Q4 24 | $49.5M | $37.1M | ||
| Q3 24 | $52.1M | $41.1M | ||
| Q2 24 | $59.9M | $51.5M | ||
| Q1 24 | $55.7M | $65.1M |
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.05× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | 0.05× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.05× | ||
| Q1 24 | — | 0.04× |
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 | $-302.0K |
| Free Cash FlowOCF − Capex | $-1.0M | $-339.0K |
| FCF MarginFCF / Revenue | -6.9% | -2.6% |
| Capex IntensityCapex / Revenue | 0.0% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.0M | $-302.0K | ||
| Q3 25 | $-1.6M | $-2.7M | ||
| Q2 25 | $-4.4M | $-1.0M | ||
| Q1 25 | $-3.9M | $-2.1M | ||
| Q4 24 | $-9.0K | $-476.0K | ||
| Q3 24 | $-722.0K | $-4.6M | ||
| Q2 24 | $2.9M | $2.3M | ||
| Q1 24 | $-6.0K | $-2.7M |
| Q4 25 | $-1.0M | $-339.0K | ||
| Q3 25 | $-1.6M | — | ||
| Q2 25 | $-4.4M | $-1.1M | ||
| Q1 25 | — | $-2.1M | ||
| Q4 24 | — | $-508.0K | ||
| Q3 24 | — | $-4.7M | ||
| Q2 24 | $2.9M | $2.2M | ||
| Q1 24 | $-42.0K | $-2.7M |
| Q4 25 | -6.9% | -2.6% | ||
| Q3 25 | -8.4% | — | ||
| Q2 25 | -22.7% | -8.0% | ||
| Q1 25 | — | -14.3% | ||
| Q4 24 | — | -3.1% | ||
| Q3 24 | — | -30.6% | ||
| Q2 24 | 10.3% | 13.2% | ||
| Q1 24 | -0.2% | -15.7% |
| Q4 25 | 0.0% | 0.3% | ||
| Q3 25 | 0.2% | 0.0% | ||
| Q2 25 | 0.0% | 0.1% | ||
| Q1 25 | 0.0% | 0.2% | ||
| Q4 24 | 0.0% | 0.2% | ||
| Q3 24 | 0.0% | 0.6% | ||
| Q2 24 | 0.0% | 0.4% | ||
| Q1 24 | 0.2% | 0.4% |
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% |
NXPL
| Healthcare Operations | $9.0M | 70% |
| Ecommerce Revenue | $3.8M | 30% |
