Aterian Named 233rd Fastest Growing Company in the Americas by Financial Times
03 April 2023 - 10:00PM
Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”), has been
named in the fourth annual Financial Times ranking of The Americas’
Fastest Growing Companies 2023 for the fourth year in a row,
ranking 233rd out of 500 companies. This recognition is presented
by the Financial Times and Statista Inc., the world-leading
statistics portal and industry ranking provider.
The Americas’ Fastest Growing Companies list
ranks companies with the strongest compounded annual revenue growth
between 2018 and 2021 for public and private businesses across
North, Central, and South America. Aterian grew 50% by that metric
during that period.
Yaniv Sarig, Co-Founder and Chief Executive
Officer, commented, “We are honored to have been recognized and
ranked by the Financial Times. Despite the impressive ranking of
our growth from 2018 to 2021, 2022 was a very challenging year for
Aterian as supply chain and inflation impacted our net revenues and
profitability which declined from 2021 levels. Today, as supply
chain costs continue to normalize, we believe that we are on track
to achieve our goal of adjusted EBITDA profitability in the second
half of 2023.”
The full Financial Times report is in the March
28th print issue of the Financial Times. The list is also available
at:
Americas' Fastest Growing Companies 2023
About Aterian, Inc.Aterian,
Inc. (Nasdaq: ATER) is a leading technology-enabled consumer
product platform that builds, acquires, and partners with
best-in-class e-commerce brands by harnessing proprietary software
and an agile supply chain to create top selling consumer products.
The Company’s cloud-based platform, Artificial Intelligence
Marketplace Ecommerce Engine (AIMEE™), leverages machine learning,
natural language processing and data analytics to streamline the
management of products at scale across the world's largest online
marketplaces with a focus on Amazon, Shopify and Walmart. Aterian
has thousands of SKUs across its many owned and operated brands and
sells products in multiple categories, including home and kitchen
appliances, health and wellness, beauty and consumer
electronics.
Forward Looking
Statements All statements other than statements of
historical facts included in this press release that address
activities, events or developments that we expect, believe or
anticipate will or may occur in the future are forward-looking
statements including, in particular, the statements regarding
supply chain costs normalizing, inflation and our belief that we
are on track to achieve adjusted EBITDA profitability in the second
half of 2023. These forward-looking statements are based on
management’s current expectations and beliefs and are subject to a
number of risks and uncertainties and other factors, all of which
are difficult to predict and many of which are beyond our control
and could cause actual results to differ materially and adversely
from those described in the forward-looking statements. These risks
include, but are not limited to: those related to the global
shipping disruptions, our ability to continue as a going concern,
our ability to meet financial covenants with our lenders, our
ability to create operating leverage and efficiency when
integrating companies that we acquire, including through the use of
our team’s expertise, the economies of scale of our supply chain
and automation driven by our platform; those related to our ability
to grow internationally and through the launch of products under
our brands and the acquisition of additional brands; those related
to the impact of COVID-19, including its impact on consumer demand,
our cash flows, financial condition, forecasting and revenue growth
rate; our supply chain including sourcing, manufacturing,
warehousing and fulfillment; our ability to manage expenses,
working capital and capital expenditures efficiently; our business
model and our technology platform; our ability to disrupt the
consumer products industry; our ability to grow market share in
existing and new product categories; our ability to generate
profitability and stockholder value; international tariffs and
trade measures; inventory management, product liability claims,
recalls or other safety and regulatory concerns; reliance on third
party online marketplaces; seasonal and quarterly variations in our
revenue; acquisitions of other companies and technologies, and our
ability to integrate such companies and technologies with our
business, our ability to continue to access debt and equity capital
(including on terms advantageous to the Company) and the extent of
our leverage and other factors discussed in the “Risk Factors”
section of our most recent periodic reports filed with the
Securities and Exchange Commission (“SEC”), all of which you may
obtain for free on the SEC’s website at www.sec.gov.
Aterian.io
Investor Contact:
Ilya Grozovsky
Vice President, Investor Relations & Corp. Development
Aterian, Inc.
ilya@aterian.io
917-905-1699
Aterian.io
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