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Side-by-side financial comparison of Aterian, Inc. (ATER) and ROCKWELL MEDICAL, INC. (RMTI). Click either name above to swap in a different company.
ROCKWELL MEDICAL, INC. is the larger business by last-quarter revenue ($18.3M vs $15.1M, roughly 1.2× Aterian, Inc.). ROCKWELL MEDICAL, INC. runs the higher net margin — -3.0% vs -52.5%, a 49.5% gap on every dollar of revenue. On growth, ROCKWELL MEDICAL, INC. posted the faster year-over-year revenue change (-25.6% vs -38.5%). ROCKWELL MEDICAL, INC. produced more free cash flow last quarter ($2.2M vs $-1.0M). Over the past eight quarters, ROCKWELL MEDICAL, INC.'s revenue compounded faster (-10.1% 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.
Rockwell Medical Inc. is a publicly traded pharmaceutical company based in Wixom, Michigan and founded in 1996 that focuses on development and commercialization of treatments against diseases such as end-stage renal disease (ESRD) and chronic kidney disease (CKD).
ATER vs RMTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.1M | $18.3M |
| Net Profit | $-7.9M | $-554.0K |
| Gross Margin | 56.1% | 21.1% |
| Operating Margin | -51.1% | -2.2% |
| Net Margin | -52.5% | -3.0% |
| Revenue YoY | -38.5% | -25.6% |
| Net Profit YoY | -512.2% | 26.7% |
| 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.
| Q4 25 | $15.1M | $18.3M | ||
| Q3 25 | $19.0M | $15.9M | ||
| Q2 25 | $19.5M | $16.1M | ||
| Q1 25 | $15.4M | $18.9M | ||
| Q4 24 | $24.6M | $24.7M | ||
| Q3 24 | $26.2M | $28.3M | ||
| Q2 24 | $28.0M | $25.8M | ||
| Q1 24 | $20.2M | $22.7M |
| Q4 25 | $-7.9M | $-554.0K | ||
| Q3 25 | $-2.3M | $-1.8M | ||
| Q2 25 | $-4.9M | $-1.5M | ||
| Q1 25 | $-3.9M | $-1.5M | ||
| Q4 24 | $-1.3M | $-756.0K | ||
| Q3 24 | $-1.8M | $1.7M | ||
| Q2 24 | $-3.6M | $343.0K | ||
| Q1 24 | $-5.2M | $-1.7M |
| Q4 25 | 56.1% | 21.1% | ||
| Q3 25 | 56.1% | 14.3% | ||
| Q2 25 | 54.3% | 15.6% | ||
| Q1 25 | 61.4% | 16.1% | ||
| Q4 24 | 63.4% | 14.7% | ||
| Q3 24 | 60.3% | 22.0% | ||
| Q2 24 | 60.4% | 17.6% | ||
| Q1 24 | 65.1% | 13.5% |
| Q4 25 | -51.1% | -2.2% | ||
| Q3 25 | -10.7% | -9.9% | ||
| Q2 25 | -23.1% | -8.4% | ||
| Q1 25 | -24.1% | -7.2% | ||
| Q4 24 | -6.5% | -2.1% | ||
| Q3 24 | -6.6% | 6.8% | ||
| Q2 24 | -11.5% | 2.0% | ||
| Q1 24 | -26.1% | -5.8% |
| Q4 25 | -52.5% | -3.0% | ||
| Q3 25 | -12.0% | -11.0% | ||
| Q2 25 | -25.0% | -9.3% | ||
| Q1 25 | -25.4% | -8.0% | ||
| Q4 24 | -5.3% | -3.1% | ||
| Q3 24 | -6.8% | 5.9% | ||
| Q2 24 | -13.0% | 1.3% | ||
| Q1 24 | -25.5% | -7.6% |
| Q4 25 | — | $-0.01 | ||
| Q3 25 | — | $-0.05 | ||
| Q2 25 | — | $-0.05 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | — | $-0.02 | ||
| Q3 24 | — | $0.04 | ||
| Q2 24 | — | $0.01 | ||
| Q1 24 | — | $-0.06 |
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 | $10.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $15.2M | $37.0M |
| Total Assets | $29.6M | $57.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $10.7M | ||
| Q3 25 | $7.6M | $13.6M | ||
| Q2 25 | $10.5M | $12.5M | ||
| Q1 25 | $14.3M | $11.4M | ||
| Q4 24 | $18.0M | $15.7M | ||
| Q3 24 | $16.1M | $12.3M | ||
| Q2 24 | $20.3M | $11.9M | ||
| Q1 24 | $17.5M | $6.6M |
| Q4 25 | $15.2M | $37.0M | ||
| Q3 25 | $22.6M | $37.0M | ||
| Q2 25 | $24.3M | $30.4M | ||
| Q1 25 | $27.0M | $31.5M | ||
| Q4 24 | $30.0M | $32.6M | ||
| Q3 24 | $30.6M | $29.1M | ||
| Q2 24 | $30.9M | $23.5M | ||
| Q1 24 | $33.0M | $20.6M |
| Q4 25 | $29.6M | $57.1M | ||
| Q3 25 | $40.1M | $57.5M | ||
| Q2 25 | $45.4M | $52.6M | ||
| Q1 25 | $49.8M | $54.0M | ||
| Q4 24 | $49.5M | $59.2M | ||
| Q3 24 | $52.1M | $57.1M | ||
| Q2 24 | $59.9M | $53.0M | ||
| Q1 24 | $55.7M | $50.7M |
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 | $2.3M |
| Free Cash FlowOCF − Capex | $-1.0M | $2.2M |
| FCF MarginFCF / Revenue | -6.9% | 12.0% |
| Capex IntensityCapex / Revenue | 0.0% | 0.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-1.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.0M | $2.3M | ||
| Q3 25 | $-1.6M | $-1.3M | ||
| Q2 25 | $-4.4M | $1.8M | ||
| Q1 25 | $-3.9M | $-3.5M | ||
| Q4 24 | $-9.0K | $865.0K | ||
| Q3 24 | $-722.0K | $4.3M | ||
| Q2 24 | $2.9M | $1.4M | ||
| Q1 24 | $-6.0K | $-2.4M |
| Q4 25 | $-1.0M | $2.2M | ||
| Q3 25 | $-1.6M | $-1.5M | ||
| Q2 25 | $-4.4M | $1.7M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $470.0K | ||
| Q3 24 | — | $4.1M | ||
| Q2 24 | $2.9M | $1.2M | ||
| Q1 24 | $-42.0K | $-2.5M |
| Q4 25 | -6.9% | 12.0% | ||
| Q3 25 | -8.4% | -9.6% | ||
| Q2 25 | -22.7% | 10.5% | ||
| Q1 25 | — | -18.8% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 14.4% | ||
| Q2 24 | 10.3% | 4.5% | ||
| Q1 24 | -0.2% | -11.1% |
| Q4 25 | 0.0% | 0.5% | ||
| Q3 25 | 0.2% | 1.4% | ||
| Q2 25 | 0.0% | 1.0% | ||
| Q1 25 | 0.0% | 0.3% | ||
| Q4 24 | 0.0% | 1.6% | ||
| Q3 24 | 0.0% | 0.7% | ||
| Q2 24 | 0.0% | 1.1% | ||
| Q1 24 | 0.2% | 0.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.57× | ||
| Q2 24 | — | 4.20× | ||
| Q1 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% |
RMTI
| US | $15.9M | 87% |
| Non Us | $2.4M | 13% |
