Aterian, Inc. announced its results for the third quarter ended September 30, 2024, reporting a net loss that improved by 71.7% year-over-year. The company achieved an Adjusted EBITDA profit for the second consecutive quarter, marking a $4.9 million improvement compared to the prior year period. The reported net loss for the quarter was $1.8 million, or 25 cents per share.
Net revenue for the third quarter of 2024 was $26.2 million, which represents a 34% decrease from the third quarter of 2023. Despite the revenue decline, the sustained Adjusted EBITDA profitability indicates operational improvements. This marks a significant step in the company's efforts to stabilize its financial performance.
For the fourth quarter of 2024, Aterian Management projects net revenue to be between $22.5 million and $25.5 million. The company also expects adjusted EBITDA to be approximately break-even for the upcoming quarter. This outlook provides investors with insight into the company's anticipated short-term financial trajectory.
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