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Side-by-side financial comparison of Aterian, Inc. (ATER) and WEST BANCORPORATION INC (WTBA). Click either name above to swap in a different company.
WEST BANCORPORATION INC is the larger business by last-quarter revenue ($26.9M vs $15.1M, roughly 1.8× Aterian, Inc.). WEST BANCORPORATION INC runs the higher net margin — 39.2% vs -52.5%, a 91.8% gap on every dollar of revenue. On growth, WEST BANCORPORATION INC posted the faster year-over-year revenue change (16.6% vs -38.5%). WEST BANCORPORATION INC produced more free cash flow last quarter ($12.4M vs $-1.0M). Over the past eight quarters, WEST BANCORPORATION INC's revenue compounded faster (17.3% 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.
West Bancorporation Inc. is a regional financial holding company headquartered in the U.S. Midwest, primarily serving markets across Iowa and Minnesota. It provides a full suite of personal and commercial banking services, including deposit accounts, mortgage loans, business lending, and wealth management solutions for individual consumers, small-to-medium enterprises, and local organizational clients.
ATER vs WTBA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.1M | $26.9M |
| Net Profit | $-7.9M | $10.6M |
| Gross Margin | 56.1% | — |
| Operating Margin | -51.1% | 50.0% |
| Net Margin | -52.5% | 39.2% |
| Revenue YoY | -38.5% | 16.6% |
| Net Profit YoY | -512.2% | 34.8% |
| EPS (diluted) | — | $0.61 |
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.
| Q1 26 | — | $26.9M | ||
| Q4 25 | $15.1M | $24.2M | ||
| Q3 25 | $19.0M | $25.0M | ||
| Q2 25 | $19.5M | $23.8M | ||
| Q1 25 | $15.4M | $23.1M | ||
| Q4 24 | $24.6M | $20.9M | ||
| Q3 24 | $26.2M | $20.3M | ||
| Q2 24 | $28.0M | $19.6M |
| Q1 26 | — | $10.6M | ||
| Q4 25 | $-7.9M | $7.4M | ||
| Q3 25 | $-2.3M | $9.3M | ||
| Q2 25 | $-4.9M | $8.0M | ||
| Q1 25 | $-3.9M | $7.8M | ||
| Q4 24 | $-1.3M | $7.1M | ||
| Q3 24 | $-1.8M | $6.0M | ||
| Q2 24 | $-3.6M | $5.2M |
| Q1 26 | — | — | ||
| Q4 25 | 56.1% | — | ||
| Q3 25 | 56.1% | — | ||
| Q2 25 | 54.3% | — | ||
| Q1 25 | 61.4% | — | ||
| Q4 24 | 63.4% | — | ||
| Q3 24 | 60.3% | — | ||
| Q2 24 | 60.4% | — |
| Q1 26 | — | 50.0% | ||
| Q4 25 | -51.1% | 39.6% | ||
| Q3 25 | -10.7% | 45.8% | ||
| Q2 25 | -23.1% | 43.4% | ||
| Q1 25 | -24.1% | 43.4% | ||
| Q4 24 | -6.5% | 30.9% | ||
| Q3 24 | -6.6% | 36.6% | ||
| Q2 24 | -11.5% | 32.6% |
| Q1 26 | — | 39.2% | ||
| Q4 25 | -52.5% | 30.7% | ||
| Q3 25 | -12.0% | 37.3% | ||
| Q2 25 | -25.0% | 33.5% | ||
| Q1 25 | -25.4% | 34.0% | ||
| Q4 24 | -5.3% | 34.0% | ||
| Q3 24 | -6.8% | 29.3% | ||
| Q2 24 | -13.0% | 26.5% |
| Q1 26 | — | $0.61 | ||
| Q4 25 | — | $0.44 | ||
| Q3 25 | — | $0.55 | ||
| Q2 25 | — | $0.47 | ||
| Q1 25 | — | $0.46 | ||
| Q4 24 | — | $0.41 | ||
| Q3 24 | — | $0.35 | ||
| Q2 24 | — | $0.31 |
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 | $362.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $15.2M | $270.7M |
| Total Assets | $29.6M | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $362.0M | ||
| Q4 25 | $4.9M | $471.1M | ||
| Q3 25 | $7.6M | $232.9M | ||
| Q2 25 | $10.5M | $345.2M | ||
| Q1 25 | $14.3M | — | ||
| Q4 24 | $18.0M | $243.5M | ||
| Q3 24 | $16.1M | — | ||
| Q2 24 | $20.3M | — |
| Q1 26 | — | $270.7M | ||
| Q4 25 | $15.2M | $266.0M | ||
| Q3 25 | $22.6M | $255.1M | ||
| Q2 25 | $24.3M | $240.9M | ||
| Q1 25 | $27.0M | $237.9M | ||
| Q4 24 | $30.0M | $227.9M | ||
| Q3 24 | $30.6M | $235.4M | ||
| Q2 24 | $30.9M | $223.9M |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $29.6M | $4.1B | ||
| Q3 25 | $40.1M | $4.0B | ||
| Q2 25 | $45.4M | $4.1B | ||
| Q1 25 | $49.8M | $4.0B | ||
| Q4 24 | $49.5M | $4.0B | ||
| Q3 24 | $52.1M | $4.0B | ||
| Q2 24 | $59.9M | $4.0B |
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 | $12.9M |
| Free Cash FlowOCF − Capex | $-1.0M | $12.4M |
| FCF MarginFCF / Revenue | -6.9% | 46.0% |
| Capex IntensityCapex / Revenue | 0.0% | 1.8% |
| Cash ConversionOCF / Net Profit | — | 1.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | $79.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.9M | ||
| Q4 25 | $-1.0M | $46.5M | ||
| Q3 25 | $-1.6M | $11.4M | ||
| Q2 25 | $-4.4M | $13.5M | ||
| Q1 25 | $-3.9M | $9.7M | ||
| Q4 24 | $-9.0K | $39.8M | ||
| Q3 24 | $-722.0K | $12.9M | ||
| Q2 24 | $2.9M | $10.0M |
| Q1 26 | — | $12.4M | ||
| Q4 25 | $-1.0M | $43.2M | ||
| Q3 25 | $-1.6M | $10.8M | ||
| Q2 25 | $-4.4M | $12.8M | ||
| Q1 25 | — | $8.3M | ||
| Q4 24 | — | $13.7M | ||
| Q3 24 | — | $7.0M | ||
| Q2 24 | $2.9M | $2.7M |
| Q1 26 | — | 46.0% | ||
| Q4 25 | -6.9% | 178.3% | ||
| Q3 25 | -8.4% | 43.0% | ||
| Q2 25 | -22.7% | 53.6% | ||
| Q1 25 | — | 35.7% | ||
| Q4 24 | — | 65.6% | ||
| Q3 24 | — | 34.2% | ||
| Q2 24 | 10.3% | 14.0% |
| Q1 26 | — | 1.8% | ||
| Q4 25 | 0.0% | 13.7% | ||
| Q3 25 | 0.2% | 2.6% | ||
| Q2 25 | 0.0% | 3.2% | ||
| Q1 25 | 0.0% | 6.5% | ||
| Q4 24 | 0.0% | 125.3% | ||
| Q3 24 | 0.0% | 29.4% | ||
| Q2 24 | 0.0% | 37.1% |
| Q1 26 | — | 1.22× | ||
| Q4 25 | — | 6.26× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 1.70× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | — | 5.61× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 1.93× |
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% |
WTBA
Segment breakdown not available.
