Aterian Named 233rd Fastest Growing Company in the Americas by Financial Times
Fourth Consecutive Year of Recognition
NEW YORK, April 03, 2023 (GLOBE NEWSWIRE) -- 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.
Investor Contact: Ilya Grozovsky Vice President, Investor Relations & Corp. Development Aterian, Inc. ilya@aterian.io 917-905-1699 Aterian.io