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Side-by-side financial comparison of Aterian, Inc. (ATER) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
Spire Global, Inc. is the larger business by last-quarter revenue ($15.8M vs $15.1M, roughly 1.0× Aterian, Inc.). Aterian, Inc. runs the higher net margin — -52.5% vs -176.6%, a 124.1% gap on every dollar of revenue. On growth, Spire Global, Inc. posted the faster year-over-year revenue change (-26.9% vs -38.5%). Aterian, Inc. produced more free cash flow last quarter ($-1.0M vs $-16.2M). Over the past eight quarters, Aterian, Inc.'s revenue compounded faster (-13.5% CAGR vs -32.6%).
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.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
ATER vs SPIR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.1M | $15.8M |
| Net Profit | $-7.9M | $-28.0M |
| Gross Margin | 56.1% | 40.2% |
| Operating Margin | -51.1% | -164.1% |
| Net Margin | -52.5% | -176.6% |
| Revenue YoY | -38.5% | -26.9% |
| Net Profit YoY | -512.2% | 42.7% |
| EPS (diluted) | — | $-0.85 |
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 | $15.8M | ||
| Q3 25 | $19.0M | $12.7M | ||
| Q2 25 | $19.5M | $19.2M | ||
| Q1 25 | $15.4M | $23.9M | ||
| Q4 24 | $24.6M | $21.7M | ||
| Q3 24 | $26.2M | $28.6M | ||
| Q2 24 | $28.0M | $25.4M | ||
| Q1 24 | $20.2M | $34.8M |
| Q4 25 | $-7.9M | $-28.0M | ||
| Q3 25 | $-2.3M | $-19.7M | ||
| Q2 25 | $-4.9M | $119.6M | ||
| Q1 25 | $-3.9M | $-20.7M | ||
| Q4 24 | $-1.3M | $-48.8M | ||
| Q3 24 | $-1.8M | $-12.5M | ||
| Q2 24 | $-3.6M | $-16.6M | ||
| Q1 24 | $-5.2M | $-25.5M |
| Q4 25 | 56.1% | 40.2% | ||
| Q3 25 | 56.1% | 36.6% | ||
| Q2 25 | 54.3% | 48.9% | ||
| Q1 25 | 61.4% | 36.8% | ||
| Q4 24 | 63.4% | 32.4% | ||
| Q3 24 | 60.3% | 44.5% | ||
| Q2 24 | 60.4% | 43.0% | ||
| Q1 24 | 65.1% | 26.5% |
| Q4 25 | -51.1% | -164.1% | ||
| Q3 25 | -10.7% | -166.1% | ||
| Q2 25 | -23.1% | -122.7% | ||
| Q1 25 | -24.1% | -106.5% | ||
| Q4 24 | -6.5% | -144.1% | ||
| Q3 24 | -6.6% | -48.0% | ||
| Q2 24 | -11.5% | -48.6% | ||
| Q1 24 | -26.1% | -34.4% |
| Q4 25 | -52.5% | -176.6% | ||
| Q3 25 | -12.0% | -155.3% | ||
| Q2 25 | -25.0% | 623.4% | ||
| Q1 25 | -25.4% | -86.5% | ||
| Q4 24 | -5.3% | -225.2% | ||
| Q3 24 | -6.8% | -43.7% | ||
| Q2 24 | -13.0% | -65.2% | ||
| Q1 24 | -25.5% | -73.3% |
| Q4 25 | — | $-0.85 | ||
| Q3 25 | — | $-0.61 | ||
| Q2 25 | — | $3.72 | ||
| Q1 25 | — | $-0.77 | ||
| Q4 24 | — | $-1.93 | ||
| Q3 24 | — | $-0.50 | ||
| Q2 24 | — | $-0.68 | ||
| Q1 24 | — | $-1.17 |
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 | $81.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $15.2M | $112.9M |
| Total Assets | $29.6M | $211.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $81.8M | ||
| Q3 25 | $7.6M | $96.8M | ||
| Q2 25 | $10.5M | $117.6M | ||
| Q1 25 | $14.3M | $35.9M | ||
| Q4 24 | $18.0M | $19.2M | ||
| Q3 24 | $16.1M | $36.6M | ||
| Q2 24 | $20.3M | $45.8M | ||
| Q1 24 | $17.5M | $63.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $123.1M |
| Q4 25 | $15.2M | $112.9M | ||
| Q3 25 | $22.6M | $133.1M | ||
| Q2 25 | $24.3M | $149.2M | ||
| Q1 25 | $27.0M | $3.7M | ||
| Q4 24 | $30.0M | $-11.7M | ||
| Q3 24 | $30.6M | $30.8M | ||
| Q2 24 | $30.9M | $40.3M | ||
| Q1 24 | $33.0M | $52.5M |
| Q4 25 | $29.6M | $211.0M | ||
| Q3 25 | $40.1M | $224.3M | ||
| Q2 25 | $45.4M | $239.5M | ||
| Q1 25 | $49.8M | $208.8M | ||
| Q4 24 | $49.5M | $193.6M | ||
| Q3 24 | $52.1M | $224.2M | ||
| Q2 24 | $59.9M | $230.8M | ||
| Q1 24 | $55.7M | $252.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 2.35× |
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 | $-4.3M |
| Free Cash FlowOCF − Capex | $-1.0M | $-16.2M |
| FCF MarginFCF / Revenue | -6.9% | -102.1% |
| Capex IntensityCapex / Revenue | 0.0% | 75.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.0M | $-4.3M | ||
| Q3 25 | $-1.6M | $-12.0M | ||
| Q2 25 | $-4.4M | $-35.1M | ||
| Q1 25 | $-3.9M | $-8.4M | ||
| Q4 24 | $-9.0K | $-19.2M | ||
| Q3 24 | $-722.0K | $14.0M | ||
| Q2 24 | $2.9M | $-4.4M | ||
| Q1 24 | $-6.0K | $-8.8M |
| Q4 25 | $-1.0M | $-16.2M | ||
| Q3 25 | $-1.6M | $-20.4M | ||
| Q2 25 | $-4.4M | $-38.7M | ||
| Q1 25 | — | $-17.3M | ||
| Q4 24 | — | $-24.3M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | $2.9M | $-9.9M | ||
| Q1 24 | $-42.0K | $-15.9M |
| Q4 25 | -6.9% | -102.1% | ||
| Q3 25 | -8.4% | -161.3% | ||
| Q2 25 | -22.7% | -201.7% | ||
| Q1 25 | — | -72.6% | ||
| Q4 24 | — | -112.2% | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | 10.3% | -39.0% | ||
| Q1 24 | -0.2% | -45.7% |
| Q4 25 | 0.0% | 75.1% | ||
| Q3 25 | 0.2% | 66.2% | ||
| Q2 25 | 0.0% | 18.8% | ||
| Q1 25 | 0.0% | 37.3% | ||
| Q4 24 | 0.0% | 23.5% | ||
| Q3 24 | 0.0% | 31.2% | ||
| Q2 24 | 0.0% | 21.8% | ||
| Q1 24 | 0.2% | 20.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
SPIR
Segment breakdown not available.
