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Side-by-side financial comparison of Aterian, Inc. (ATER) and OCULAR THERAPEUTIX, INC (OCUL). Click either name above to swap in a different company.
Aterian, Inc. is the larger business by last-quarter revenue ($15.1M vs $13.3M, roughly 1.1× OCULAR THERAPEUTIX, INC). Aterian, Inc. runs the higher net margin — -52.5% vs -488.0%, a 435.4% gap on every dollar of revenue. On growth, OCULAR THERAPEUTIX, INC posted the faster year-over-year revenue change (-22.4% vs -38.5%). Aterian, Inc. produced more free cash flow last quarter ($-1.0M vs $-57.1M). Over the past eight quarters, OCULAR THERAPEUTIX, INC's revenue compounded faster (-5.3% 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.
Ocular Therapeutix, Inc. is a biopharmaceutical firm specializing in developing and commercializing innovative ophthalmic therapies. Its products treat acute and chronic eye conditions including post-surgical pain, glaucoma, and dry eye, serving patients and ophthalmology providers primarily across the U.S. and select global markets.
ATER vs OCUL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.1M | $13.3M |
| Net Profit | $-7.9M | $-64.7M |
| Gross Margin | 56.1% | 88.0% |
| Operating Margin | -51.1% | -526.5% |
| Net Margin | -52.5% | -488.0% |
| Revenue YoY | -38.5% | -22.4% |
| Net Profit YoY | -512.2% | -33.6% |
| EPS (diluted) | — | $-0.27 |
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 | $13.3M | ||
| Q3 25 | $19.0M | $14.5M | ||
| Q2 25 | $19.5M | $13.5M | ||
| Q1 25 | $15.4M | $10.7M | ||
| Q4 24 | $24.6M | $17.1M | ||
| Q3 24 | $26.2M | $15.4M | ||
| Q2 24 | $28.0M | $16.4M | ||
| Q1 24 | $20.2M | $14.8M |
| Q4 25 | $-7.9M | $-64.7M | ||
| Q3 25 | $-2.3M | $-69.4M | ||
| Q2 25 | $-4.9M | $-67.8M | ||
| Q1 25 | $-3.9M | $-64.1M | ||
| Q4 24 | $-1.3M | $-48.4M | ||
| Q3 24 | $-1.8M | $-36.5M | ||
| Q2 24 | $-3.6M | $-43.8M | ||
| Q1 24 | $-5.2M | $-64.8M |
| Q4 25 | 56.1% | 88.0% | ||
| Q3 25 | 56.1% | 87.8% | ||
| Q2 25 | 54.3% | 85.6% | ||
| Q1 25 | 61.4% | 88.2% | ||
| Q4 24 | 63.4% | 92.8% | ||
| Q3 24 | 60.3% | 89.9% | ||
| Q2 24 | 60.4% | 90.8% | ||
| Q1 24 | 65.1% | 91.0% |
| Q4 25 | -51.1% | -526.5% | ||
| Q3 25 | -10.7% | -472.3% | ||
| Q2 25 | -23.1% | -502.6% | ||
| Q1 25 | -24.1% | -597.5% | ||
| Q4 24 | -6.5% | -296.1% | ||
| Q3 24 | -6.6% | -298.2% | ||
| Q2 24 | -11.5% | -265.1% | ||
| Q1 24 | -26.1% | -214.0% |
| Q4 25 | -52.5% | -488.0% | ||
| Q3 25 | -12.0% | -477.3% | ||
| Q2 25 | -25.0% | -503.9% | ||
| Q1 25 | -25.4% | -598.7% | ||
| Q4 24 | -5.3% | -283.3% | ||
| Q3 24 | -6.8% | -236.6% | ||
| Q2 24 | -13.0% | -266.3% | ||
| Q1 24 | -25.5% | -438.9% |
| Q4 25 | — | $-0.27 | ||
| Q3 25 | — | $-0.38 | ||
| Q2 25 | — | $-0.39 | ||
| Q1 25 | — | $-0.38 | ||
| Q4 24 | — | $-0.25 | ||
| Q3 24 | — | $-0.22 | ||
| Q2 24 | — | $-0.26 | ||
| Q1 24 | — | $-0.49 |
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 | $737.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $15.2M | $654.3M |
| Total Assets | $29.6M | $808.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $737.1M | ||
| Q3 25 | $7.6M | $344.8M | ||
| Q2 25 | $10.5M | $391.1M | ||
| Q1 25 | $14.3M | $349.7M | ||
| Q4 24 | $18.0M | $392.1M | ||
| Q3 24 | $16.1M | $427.2M | ||
| Q2 24 | $20.3M | $459.7M | ||
| Q1 24 | $17.5M | $482.9M |
| Q4 25 | $15.2M | $654.3M | ||
| Q3 25 | $22.6M | $258.2M | ||
| Q2 25 | $24.3M | $305.9M | ||
| Q1 25 | $27.0M | $265.9M | ||
| Q4 24 | $30.0M | $315.3M | ||
| Q3 24 | $30.6M | $352.0M | ||
| Q2 24 | $30.9M | $377.7M | ||
| Q1 24 | $33.0M | $408.0M |
| Q4 25 | $29.6M | $808.1M | ||
| Q3 25 | $40.1M | $410.9M | ||
| Q2 25 | $45.4M | $451.3M | ||
| Q1 25 | $49.8M | $405.9M | ||
| Q4 24 | $49.5M | $457.9M | ||
| Q3 24 | $52.1M | $490.4M | ||
| Q2 24 | $59.9M | $517.1M | ||
| Q1 24 | $55.7M | $538.9M |
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 | $-54.2M |
| Free Cash FlowOCF − Capex | $-1.0M | $-57.1M |
| FCF MarginFCF / Revenue | -6.9% | -430.9% |
| Capex IntensityCapex / Revenue | 0.0% | 21.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-216.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.0M | $-54.2M | ||
| Q3 25 | $-1.6M | $-50.7M | ||
| Q2 25 | $-4.4M | $-55.2M | ||
| Q1 25 | $-3.9M | $-44.7M | ||
| Q4 24 | $-9.0K | $-39.4M | ||
| Q3 24 | $-722.0K | $-36.6M | ||
| Q2 24 | $2.9M | $-24.8M | ||
| Q1 24 | $-6.0K | $-33.9M |
| Q4 25 | $-1.0M | $-57.1M | ||
| Q3 25 | $-1.6M | $-56.7M | ||
| Q2 25 | $-4.4M | $-56.5M | ||
| Q1 25 | — | $-46.6M | ||
| Q4 24 | — | $-39.6M | ||
| Q3 24 | — | $-36.6M | ||
| Q2 24 | $2.9M | $-25.5M | ||
| Q1 24 | $-42.0K | $-34.1M |
| Q4 25 | -6.9% | -430.9% | ||
| Q3 25 | -8.4% | -390.0% | ||
| Q2 25 | -22.7% | -419.7% | ||
| Q1 25 | — | -435.6% | ||
| Q4 24 | — | -232.0% | ||
| Q3 24 | — | -237.6% | ||
| Q2 24 | 10.3% | -155.4% | ||
| Q1 24 | -0.2% | -231.1% |
| Q4 25 | 0.0% | 21.4% | ||
| Q3 25 | 0.2% | 41.2% | ||
| Q2 25 | 0.0% | 9.3% | ||
| Q1 25 | 0.0% | 18.1% | ||
| Q4 24 | 0.0% | 1.2% | ||
| Q3 24 | 0.0% | 0.6% | ||
| Q2 24 | 0.0% | 4.5% | ||
| Q1 24 | 0.2% | 1.7% |
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% |
OCUL
Segment breakdown not available.
