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Side-by-side financial comparison of Aterian, Inc. (ATER) and Velo3D, Inc. (VELO). Click either name above to swap in a different company.
Aterian, Inc. is the larger business by last-quarter revenue ($15.1M vs $9.4M, roughly 1.6× Velo3D, Inc.). Aterian, Inc. runs the higher net margin — -52.5% vs -231.9%, a 179.4% gap on every dollar of revenue. On growth, Velo3D, Inc. posted the faster year-over-year revenue change (-25.2% vs -38.5%). Aterian, Inc. produced more free cash flow last quarter ($-1.0M vs $-8.3M). Over the past eight quarters, Velo3D, Inc.'s revenue compounded faster (-1.8% 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.
Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.
ATER vs VELO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.1M | $9.4M |
| Net Profit | $-7.9M | $-21.9M |
| Gross Margin | 56.1% | -73.6% |
| Operating Margin | -51.1% | -231.0% |
| Net Margin | -52.5% | -231.9% |
| Revenue YoY | -38.5% | -25.2% |
| Net Profit YoY | -512.2% | -2.9% |
| EPS (diluted) | — | $-0.87 |
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 | $9.4M | ||
| Q3 25 | $19.0M | $13.6M | ||
| Q2 25 | $19.5M | $13.6M | ||
| Q1 25 | $15.4M | $9.3M | ||
| Q4 24 | $24.6M | $12.6M | ||
| Q3 24 | $26.2M | $8.2M | ||
| Q2 24 | $28.0M | $10.3M | ||
| Q1 24 | $20.2M | $9.8M |
| Q4 25 | $-7.9M | $-21.9M | ||
| Q3 25 | $-2.3M | $-11.2M | ||
| Q2 25 | $-4.9M | $-13.3M | ||
| Q1 25 | $-3.9M | $-25.0M | ||
| Q4 24 | $-1.3M | $-21.3M | ||
| Q3 24 | $-1.8M | $-21.9M | ||
| Q2 24 | $-3.6M | $935.0K | ||
| Q1 24 | $-5.2M | $-27.5M |
| Q4 25 | 56.1% | -73.6% | ||
| Q3 25 | 56.1% | 3.2% | ||
| Q2 25 | 54.3% | -11.7% | ||
| Q1 25 | 61.4% | 7.5% | ||
| Q4 24 | 63.4% | -3.5% | ||
| Q3 24 | 60.3% | 49.4% | ||
| Q2 24 | 60.4% | -28.0% | ||
| Q1 24 | 65.1% | -28.8% |
| Q4 25 | -51.1% | -231.0% | ||
| Q3 25 | -10.7% | -73.3% | ||
| Q2 25 | -23.1% | -85.4% | ||
| Q1 25 | -24.1% | -123.6% | ||
| Q4 24 | -6.5% | -167.0% | ||
| Q3 24 | -6.6% | -213.8% | ||
| Q2 24 | -11.5% | -187.7% | ||
| Q1 24 | -26.1% | -211.1% |
| Q4 25 | -52.5% | -231.9% | ||
| Q3 25 | -12.0% | -82.0% | ||
| Q2 25 | -25.0% | -97.7% | ||
| Q1 25 | -25.4% | -268.4% | ||
| Q4 24 | -5.3% | -168.5% | ||
| Q3 24 | -6.8% | -265.3% | ||
| Q2 24 | -13.0% | 9.0% | ||
| Q1 24 | -25.5% | -281.2% |
| Q4 25 | — | $-0.87 | ||
| Q3 25 | — | $-0.65 | ||
| Q2 25 | — | $-0.94 | ||
| Q1 25 | — | $-1.87 | ||
| Q4 24 | — | $7.06 | ||
| Q3 24 | — | $-35.52 | ||
| Q2 24 | — | $1.65 | ||
| Q1 24 | — | $-55.51 |
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 | $39.0M |
| Total DebtLower is stronger | — | $31.0M |
| Stockholders' EquityBook value | $15.2M | $38.2M |
| Total Assets | $29.6M | $105.3M |
| Debt / EquityLower = less leverage | — | 0.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $39.0M | ||
| Q3 25 | $7.6M | $11.8M | ||
| Q2 25 | $10.5M | $854.0K | ||
| Q1 25 | $14.3M | $3.9M | ||
| Q4 24 | $18.0M | $1.2M | ||
| Q3 24 | $16.1M | $1.6M | ||
| Q2 24 | $20.3M | $3.2M | ||
| Q1 24 | $17.5M | $10.9M |
| Q4 25 | — | $31.0M | ||
| Q3 25 | — | $23.0M | ||
| Q2 25 | — | $22.5M | ||
| Q1 25 | — | $21.7M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $32.3M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | — | $44.0M |
| Q4 25 | $15.2M | $38.2M | ||
| Q3 25 | $22.6M | $29.9M | ||
| Q2 25 | $24.3M | $21.4M | ||
| Q1 25 | $27.0M | $32.8M | ||
| Q4 24 | $30.0M | $39.7M | ||
| Q3 24 | $30.6M | $34.4M | ||
| Q2 24 | $30.9M | $52.1M | ||
| Q1 24 | $33.0M | $45.5M |
| Q4 25 | $29.6M | $105.3M | ||
| Q3 25 | $40.1M | $93.7M | ||
| Q2 25 | $45.4M | $78.4M | ||
| Q1 25 | $49.8M | $91.3M | ||
| Q4 24 | $49.5M | $89.2M | ||
| Q3 24 | $52.1M | $110.8M | ||
| Q2 24 | $59.9M | $116.7M | ||
| Q1 24 | $55.7M | $136.1M |
| Q4 25 | — | 0.81× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.97× |
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 | $-7.7M |
| Free Cash FlowOCF − Capex | $-1.0M | $-8.3M |
| FCF MarginFCF / Revenue | -6.9% | -88.3% |
| Capex IntensityCapex / Revenue | 0.0% | 6.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.0M | $-7.7M | ||
| Q3 25 | $-1.6M | $-6.0M | ||
| Q2 25 | $-4.4M | $-1.2M | ||
| Q1 25 | $-3.9M | $-12.3M | ||
| Q4 24 | $-9.0K | $-2.2M | ||
| Q3 24 | $-722.0K | $-2.0M | ||
| Q2 24 | $2.9M | $-8.0M | ||
| Q1 24 | $-6.0K | $-20.5M |
| Q4 25 | $-1.0M | $-8.3M | ||
| Q3 25 | $-1.6M | $-6.3M | ||
| Q2 25 | $-4.4M | $-3.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-2.2M | ||
| Q3 24 | — | $-2.0M | ||
| Q2 24 | $2.9M | $-8.0M | ||
| Q1 24 | $-42.0K | $-20.5M |
| Q4 25 | -6.9% | -88.3% | ||
| Q3 25 | -8.4% | -46.5% | ||
| Q2 25 | -22.7% | -22.2% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -17.7% | ||
| Q3 24 | — | -24.2% | ||
| Q2 24 | 10.3% | -77.1% | ||
| Q1 24 | -0.2% | -209.8% |
| Q4 25 | 0.0% | 6.4% | ||
| Q3 25 | 0.2% | 2.3% | ||
| Q2 25 | 0.0% | 13.3% | ||
| Q1 25 | 0.0% | 0.0% | ||
| Q4 24 | 0.0% | 0.2% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | 0.0% | 0.0% | ||
| Q1 24 | 0.2% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -8.52× | ||
| 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% |
VELO
Segment breakdown not available.
