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Aterian, Inc.（ATER）与FiscalNote Holdings, Inc.（NOTE）财务数据对比。点击上方公司名可切换其他公司
FiscalNote Holdings, Inc.的季度营收约是Aterian, Inc.的1.5倍（$22.2M vs $15.1M），FiscalNote Holdings, Inc.同比增速更快（-24.7% vs -38.5%），Aterian, Inc.自由现金流更多（$-1.0M vs $-1.9M），过去两年Aterian, Inc.的营收复合增速更高（-13.5% vs -16.8%）
Aterian, Inc.是一家技术驱动的消费品企业，依托人工智能与数据分析挖掘市场需求，开发、采购并销售家居、个护、健康、户外、宠物用品等多品类高性价比商品，主要通过全球主流电商平台销往北美、欧洲等核心市场。
FiscalNote Holdings, Inc.（常称FiscalNote）是一家上市的软件数据与传媒企业，总部位于美国华盛顿特区，2013年由三位创始人创立。核心业务为通过政府关系管理服务FiscalNote GRM提供软件工具、平台、数据服务与资讯，同时依托人工智能平台分析美国待审议法案相关内容。
ATER vs NOTE — 直观对比
营收规模更大
NOTE
是对方的1.5倍
$15.1M
营收增速更快
NOTE
高出13.9%
-38.5%
自由现金流更多
ATER
多$874.0K
$-1.9M
两年增速更快
ATER
近两年复合增速
-16.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $15.1M | $22.2M |
| 净利润 | $-7.9M | — |
| 毛利率 | 56.1% | — |
| 营业利润率 | -51.1% | -83.7% |
| 净利率 | -52.5% | — |
| 营收同比 | -38.5% | -24.7% |
| 净利润同比 | -512.2% | — |
| 每股收益（稀释后） | — | $-2.81 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ATERNOTE
| Q4 25 | $15.1M | $22.2M | ||
| Q3 25 | $19.0M | $22.4M | ||
| Q2 25 | $19.5M | $23.3M | ||
| Q1 25 | $15.4M | $27.5M | ||
| Q4 24 | $24.6M | $29.5M | ||
| Q3 24 | $26.2M | $29.4M | ||
| Q2 24 | $28.0M | $29.2M | ||
| Q1 24 | $20.2M | $32.1M |
净利润ATERNOTE
| Q4 25 | $-7.9M | — | ||
| Q3 25 | $-2.3M | $-24.9M | ||
| Q2 25 | $-4.9M | $-13.3M | ||
| Q1 25 | $-3.9M | $-4.3M | ||
| Q4 24 | $-1.3M | — | ||
| Q3 24 | $-1.8M | $-14.9M | ||
| Q2 24 | $-3.6M | $-12.8M | ||
| Q1 24 | $-5.2M | $50.6M |
毛利率ATERNOTE
| 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 24 | 65.1% | — |
营业利润率ATERNOTE
| Q4 25 | -51.1% | -83.7% | ||
| Q3 25 | -10.7% | -43.4% | ||
| Q2 25 | -23.1% | -31.9% | ||
| Q1 25 | -24.1% | -50.0% | ||
| Q4 24 | -6.5% | -19.4% | ||
| Q3 24 | -6.6% | -23.1% | ||
| Q2 24 | -11.5% | -27.2% | ||
| Q1 24 | -26.1% | -35.6% |
净利率ATERNOTE
| Q4 25 | -52.5% | — | ||
| Q3 25 | -12.0% | -110.8% | ||
| Q2 25 | -25.0% | -57.0% | ||
| Q1 25 | -25.4% | -15.4% | ||
| Q4 24 | -5.3% | — | ||
| Q3 24 | -6.8% | -50.7% | ||
| Q2 24 | -13.0% | -43.6% | ||
| Q1 24 | -25.5% | 157.6% |
每股收益（稀释后）ATERNOTE
| Q4 25 | — | $-2.81 | ||
| Q3 25 | — | $-1.73 | ||
| Q2 25 | — | $-0.08 | ||
| Q1 25 | — | $-0.03 | ||
| Q4 24 | — | $1.88 | ||
| Q3 24 | — | $-1.33 | ||
| Q2 24 | — | $-0.09 | ||
| Q1 24 | — | $0.37 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $4.9M | $26.3M |
| 总债务越低越好 | — | $128.4M |
| 股东权益账面价值 | $15.2M | $62.0M |
| 总资产 | $29.6M | $255.1M |
| 负债/权益比越低杠杆越低 | — | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资ATERNOTE
| Q4 25 | $4.9M | $26.3M | ||
| Q3 25 | $7.6M | $31.2M | ||
| Q2 25 | $10.5M | $38.5M | ||
| Q1 25 | $14.3M | $46.3M | ||
| Q4 24 | $18.0M | $34.6M | ||
| Q3 24 | $16.1M | $32.7M | ||
| Q2 24 | $20.3M | $37.7M | ||
| Q1 24 | $17.5M | $43.6M |
总债务ATERNOTE
| Q4 25 | — | $128.4M | ||
| Q3 25 | — | $131.5M | ||
| Q2 25 | — | $116.7M | ||
| Q1 25 | — | $118.0M | ||
| Q4 24 | — | $147.1M | ||
| Q3 24 | — | $152.2M | ||
| Q2 24 | — | $145.9M | ||
| Q1 24 | — | $153.0M |
股东权益ATERNOTE
| Q4 25 | $15.2M | $62.0M | ||
| Q3 25 | $22.6M | $75.5M | ||
| Q2 25 | $24.3M | $95.1M | ||
| Q1 25 | $27.0M | $98.7M | ||
| Q4 24 | $30.0M | $97.8M | ||
| Q3 24 | $30.6M | $98.5M | ||
| Q2 24 | $30.9M | $106.9M | ||
| Q1 24 | $33.0M | $106.1M |
总资产ATERNOTE
| Q4 25 | $29.6M | $255.1M | ||
| Q3 25 | $40.1M | $273.9M | ||
| Q2 25 | $45.4M | $288.3M | ||
| Q1 25 | $49.8M | $299.7M | ||
| Q4 24 | $49.5M | $326.2M | ||
| Q3 24 | $52.1M | $337.9M | ||
| Q2 24 | $59.9M | $346.3M | ||
| Q1 24 | $55.7M | $357.8M |
负债/权益比ATERNOTE
| Q4 25 | — | 2.07× | ||
| Q3 25 | — | 1.74× | ||
| Q2 25 | — | 1.23× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 1.50× | ||
| Q3 24 | — | 1.54× | ||
| Q2 24 | — | 1.36× | ||
| Q1 24 | — | 1.44× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-1.0M | $-279.0K |
| 自由现金流经营现金流 - 资本支出 | $-1.0M | $-1.9M |
| 自由现金流率自由现金流/营收 | -6.9% | -8.7% |
| 资本支出强度资本支出/营收 | 0.0% | 7.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-18.6M |
8季度趋势，按日历期对齐
经营现金流ATERNOTE
| Q4 25 | $-1.0M | $-279.0K | ||
| Q3 25 | $-1.6M | $-8.3M | ||
| Q2 25 | $-4.4M | $-6.2M | ||
| Q1 25 | $-3.9M | $3.3M | ||
| Q4 24 | $-9.0K | $-1.3M | ||
| Q3 24 | $-722.0K | $-3.0M | ||
| Q2 24 | $2.9M | $-3.7M | ||
| Q1 24 | $-6.0K | $2.7M |
自由现金流ATERNOTE
| Q4 25 | $-1.0M | $-1.9M | ||
| Q3 25 | $-1.6M | $-10.4M | ||
| Q2 25 | $-4.4M | $-7.7M | ||
| Q1 25 | — | $1.3M | ||
| Q4 24 | — | $-3.4M | ||
| Q3 24 | — | $-5.4M | ||
| Q2 24 | $2.9M | $-6.5M | ||
| Q1 24 | $-42.0K | $1.0M |
自由现金流率ATERNOTE
| Q4 25 | -6.9% | -8.7% | ||
| Q3 25 | -8.4% | -46.2% | ||
| Q2 25 | -22.7% | -33.0% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | — | -11.4% | ||
| Q3 24 | — | -18.4% | ||
| Q2 24 | 10.3% | -22.1% | ||
| Q1 24 | -0.2% | 3.3% |
资本支出强度ATERNOTE
| Q4 25 | 0.0% | 7.4% | ||
| Q3 25 | 0.2% | 9.3% | ||
| Q2 25 | 0.0% | 6.4% | ||
| Q1 25 | 0.0% | 7.2% | ||
| Q4 24 | 0.0% | 6.8% | ||
| Q3 24 | 0.0% | 8.3% | ||
| Q2 24 | 0.0% | 9.4% | ||
| Q1 24 | 0.2% | 5.3% |
现金转化率ATERNOTE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.05× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ATER
| Sales Channel Directly To Consumer | $13.1M | 87% |
| Heating Cooling And Air Quality | $2.1M | 14% |
NOTE
| Subscription | $21.2M | 95% |
| Advisory Advertising And Other | $1.0M | 5% |
