ater-10q_20210630.htm
false
Q2
0001757715
--12-31
0.3333
0.6666
P3Y
P4Y
P3Y
0.3333
0.6666
P7Y8M15D
P7Y3M21D
P7Y3M3D
P7Y3M21D
0001757715
2021-01-01
2021-06-30
xbrli:shares
0001757715
2021-08-04
iso4217:USD
0001757715
2020-12-31
0001757715
2021-06-30
iso4217:USD
xbrli:shares
0001757715
2020-04-01
2020-06-30
0001757715
2021-04-01
2021-06-30
0001757715
2020-01-01
2020-06-30
0001757715
us-gaap:CommonStockMember
2020-03-31
0001757715
us-gaap:AdditionalPaidInCapitalMember
2020-03-31
0001757715
us-gaap:RetainedEarningsMember
2020-03-31
0001757715
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-03-31
0001757715
2020-03-31
0001757715
us-gaap:RetainedEarningsMember
2020-04-01
2020-06-30
0001757715
ater:JuneThirtyTwoThousandTwentyMember
us-gaap:CommonStockMember
2020-04-01
2020-06-30
0001757715
us-gaap:CommonStockMember
2020-04-01
2020-06-30
0001757715
us-gaap:AdditionalPaidInCapitalMember
2020-04-01
2020-06-30
0001757715
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-04-01
2020-06-30
0001757715
us-gaap:CommonStockMember
2020-06-30
0001757715
us-gaap:AdditionalPaidInCapitalMember
2020-06-30
0001757715
us-gaap:RetainedEarningsMember
2020-06-30
0001757715
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-06-30
0001757715
2020-06-30
0001757715
us-gaap:CommonStockMember
2021-03-31
0001757715
us-gaap:AdditionalPaidInCapitalMember
2021-03-31
0001757715
us-gaap:RetainedEarningsMember
2021-03-31
0001757715
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-03-31
0001757715
2021-03-31
0001757715
us-gaap:RetainedEarningsMember
2021-04-01
2021-06-30
0001757715
us-gaap:AdditionalPaidInCapitalMember
2021-04-01
2021-06-30
0001757715
us-gaap:CommonStockMember
ater:HighTrailMember
2021-04-01
2021-06-30
0001757715
us-gaap:AdditionalPaidInCapitalMember
ater:HighTrailMember
2021-04-01
2021-06-30
0001757715
ater:HighTrailMember
2021-04-01
2021-06-30
0001757715
us-gaap:CommonStockMember
2021-04-01
2021-06-30
0001757715
us-gaap:CommonStockMember
ater:AssetPurchaseAgreementMember
2021-04-01
2021-06-30
0001757715
us-gaap:AdditionalPaidInCapitalMember
ater:AssetPurchaseAgreementMember
2021-04-01
2021-06-30
0001757715
ater:AssetPurchaseAgreementMember
2021-04-01
2021-06-30
0001757715
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-04-01
2021-06-30
0001757715
us-gaap:CommonStockMember
2021-06-30
0001757715
us-gaap:AdditionalPaidInCapitalMember
2021-06-30
0001757715
us-gaap:RetainedEarningsMember
2021-06-30
0001757715
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-06-30
0001757715
us-gaap:CommonStockMember
2019-12-31
0001757715
us-gaap:AdditionalPaidInCapitalMember
2019-12-31
0001757715
us-gaap:RetainedEarningsMember
2019-12-31
0001757715
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-12-31
0001757715
2019-12-31
0001757715
us-gaap:RetainedEarningsMember
2020-01-01
2020-06-30
0001757715
ater:MarchTwelveTwoThousandTwentyMember
us-gaap:CommonStockMember
2020-01-01
2020-06-30
0001757715
ater:JuneThirtyTwoThousandTwentyMember
us-gaap:CommonStockMember
2020-01-01
2020-06-30
0001757715
us-gaap:AdditionalPaidInCapitalMember
2020-01-01
2020-06-30
0001757715
us-gaap:CommonStockMember
2020-01-01
2020-06-30
0001757715
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-01-01
2020-06-30
0001757715
us-gaap:CommonStockMember
2020-03-12
2020-03-12
0001757715
us-gaap:CommonStockMember
2020-12-31
0001757715
us-gaap:AdditionalPaidInCapitalMember
2020-12-31
0001757715
us-gaap:RetainedEarningsMember
2020-12-31
0001757715
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-12-31
0001757715
us-gaap:RetainedEarningsMember
2021-01-01
2021-06-30
0001757715
us-gaap:CommonStockMember
2021-01-01
2021-06-30
0001757715
us-gaap:AdditionalPaidInCapitalMember
2021-01-01
2021-06-30
0001757715
ater:HighTrailMember
us-gaap:CommonStockMember
2021-01-01
2021-06-30
0001757715
ater:HighTrailMember
us-gaap:AdditionalPaidInCapitalMember
2021-01-01
2021-06-30
0001757715
ater:HighTrailMember
2021-01-01
2021-06-30
0001757715
ater:AssetPurchaseAgreementMember
us-gaap:CommonStockMember
2021-01-01
2021-06-30
0001757715
ater:AssetPurchaseAgreementMember
us-gaap:AdditionalPaidInCapitalMember
2021-01-01
2021-06-30
0001757715
ater:AssetPurchaseAgreementMember
2021-01-01
2021-06-30
0001757715
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-06-30
0001757715
ater:HighTrailDecember2020NoteAndFebruary2021TermLoanMember
2021-01-01
2021-06-30
0001757715
us-gaap:RevolvingCreditFacilityMember
2021-01-01
2021-06-30
0001757715
ater:HealingSolutionsLLCMember
2021-01-01
2021-06-30
0001757715
ater:PhotoPaperDirectLTDMember
2021-01-01
2021-06-30
0001757715
ater:SquattyPottyLLCMember
2021-01-01
2021-06-30
0001757715
ater:AussieHealthMember
2020-01-01
2020-06-30
0001757715
ater:SmashMember
2021-01-01
2021-06-30
0001757715
ater:MidCapCreditFacilityMember
2020-01-01
2020-06-30
0001757715
ater:MidCapCreditFacilityMember
2021-01-01
2021-06-30
0001757715
ater:HighTrailFebruary2021NoteMember
2021-01-01
2021-06-30
0001757715
ater:HighTrailApril2021NoteMember
2021-01-01
2021-06-30
0001757715
us-gaap:RestrictedStockMember
2021-01-01
2021-06-30
0001757715
ater:HealingSolutionsAndPhotoPaperDirectMember
2021-01-01
2021-06-30
0001757715
ater:HighTrailLoanDecember2020NoteMember
2021-01-01
2021-06-30
0001757715
ater:HealingSolutionsMember
2021-01-01
2021-06-30
0001757715
us-gaap:PrivatePlacementMember
2021-06-10
2021-06-10
0001757715
us-gaap:PrivatePlacementMember
2021-06-10
0001757715
us-gaap:OtherNoncurrentAssetsMember
2021-06-30
0001757715
us-gaap:OtherNoncurrentAssetsMember
2020-12-31
0001757715
ater:USCustomsBondMember
2020-12-31
0001757715
us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember
us-gaap:LetterOfCreditMember
2021-06-30
0001757715
srt:NorthAmericaMember
us-gaap:SalesChannelDirectlyToConsumerMember
2020-04-01
2020-06-30
0001757715
srt:NorthAmericaMember
us-gaap:SalesChannelThroughIntermediaryMember
2020-04-01
2020-06-30
0001757715
srt:NorthAmericaMember
ater:PlatformAsAServiceMember
2020-04-01
2020-06-30
0001757715
srt:NorthAmericaMember
2020-04-01
2020-06-30
0001757715
ater:OtherThanNorthAmericaMember
us-gaap:SalesChannelDirectlyToConsumerMember
2020-04-01
2020-06-30
0001757715
ater:OtherThanNorthAmericaMember
2020-04-01
2020-06-30
0001757715
us-gaap:SalesChannelDirectlyToConsumerMember
2020-04-01
2020-06-30
0001757715
us-gaap:SalesChannelThroughIntermediaryMember
2020-04-01
2020-06-30
0001757715
ater:PlatformAsAServiceMember
2020-04-01
2020-06-30
0001757715
srt:NorthAmericaMember
us-gaap:SalesChannelDirectlyToConsumerMember
2021-04-01
2021-06-30
0001757715
srt:NorthAmericaMember
ater:PlatformAsAServiceMember
2021-04-01
2021-06-30
0001757715
srt:NorthAmericaMember
2021-04-01
2021-06-30
0001757715
ater:OtherThanNorthAmericaMember
us-gaap:SalesChannelDirectlyToConsumerMember
2021-04-01
2021-06-30
0001757715
ater:OtherThanNorthAmericaMember
2021-04-01
2021-06-30
0001757715
us-gaap:SalesChannelDirectlyToConsumerMember
2021-04-01
2021-06-30
0001757715
ater:PlatformAsAServiceMember
2021-04-01
2021-06-30
0001757715
srt:NorthAmericaMember
us-gaap:SalesChannelDirectlyToConsumerMember
2020-01-01
2020-06-30
0001757715
srt:NorthAmericaMember
us-gaap:SalesChannelThroughIntermediaryMember
2020-01-01
2020-06-30
0001757715
srt:NorthAmericaMember
ater:PlatformAsAServiceMember
2020-01-01
2020-06-30
0001757715
srt:NorthAmericaMember
2020-01-01
2020-06-30
0001757715
ater:OtherThanNorthAmericaMember
us-gaap:SalesChannelDirectlyToConsumerMember
2020-01-01
2020-06-30
0001757715
ater:OtherThanNorthAmericaMember
2020-01-01
2020-06-30
0001757715
us-gaap:SalesChannelDirectlyToConsumerMember
2020-01-01
2020-06-30
0001757715
us-gaap:SalesChannelThroughIntermediaryMember
2020-01-01
2020-06-30
0001757715
ater:PlatformAsAServiceMember
2020-01-01
2020-06-30
0001757715
srt:NorthAmericaMember
us-gaap:SalesChannelDirectlyToConsumerMember
2021-01-01
2021-06-30
0001757715
srt:NorthAmericaMember
us-gaap:SalesChannelThroughIntermediaryMember
2021-01-01
2021-06-30
0001757715
srt:NorthAmericaMember
ater:PlatformAsAServiceMember
2021-01-01
2021-06-30
0001757715
srt:NorthAmericaMember
2021-01-01
2021-06-30
0001757715
ater:OtherThanNorthAmericaMember
us-gaap:SalesChannelDirectlyToConsumerMember
2021-01-01
2021-06-30
0001757715
ater:OtherThanNorthAmericaMember
2021-01-01
2021-06-30
0001757715
us-gaap:SalesChannelDirectlyToConsumerMember
2021-01-01
2021-06-30
0001757715
us-gaap:SalesChannelThroughIntermediaryMember
2021-01-01
2021-06-30
0001757715
ater:PlatformAsAServiceMember
2021-01-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:HeatingCoolingAndAirQualityMember
2020-04-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:HeatingCoolingAndAirQualityMember
2021-04-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:KitchenAppliancesMember
2020-04-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:KitchenAppliancesMember
2021-04-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:HealthAndBeautyMember
2020-04-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:HealthAndBeautyMember
2021-04-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:PersonalProtectiveEquipmentMember
2020-04-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:PersonalProtectiveEquipmentMember
2021-04-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:CookwareKitchenToolsAndGadgetsMember
2020-04-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:CookwareKitchenToolsAndGadgetsMember
2021-04-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:HomeOfficeMember
2020-04-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:HomeOfficeMember
2021-04-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:HousewaresMember
2020-04-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:HousewaresMember
2021-04-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:EssentialOilsAndRelatedAccessoriesMember
2021-04-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:OtherMember
2020-04-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:OtherMember
2021-04-01
2021-06-30
0001757715
ater:ProductRevenueMember
2020-04-01
2020-06-30
0001757715
ater:ProductRevenueMember
2021-04-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:HeatingCoolingAndAirQualityMember
2020-01-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:HeatingCoolingAndAirQualityMember
2021-01-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:KitchenAppliancesMember
2020-01-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:KitchenAppliancesMember
2021-01-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:HealthAndBeautyMember
2020-01-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:HealthAndBeautyMember
2021-01-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:PersonalProtectiveEquipmentMember
2020-01-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:PersonalProtectiveEquipmentMember
2021-01-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:CookwareKitchenToolsAndGadgetsMember
2020-01-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:CookwareKitchenToolsAndGadgetsMember
2021-01-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:HomeOfficeMember
2020-01-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:HomeOfficeMember
2021-01-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:HousewaresMember
2020-01-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:HousewaresMember
2021-01-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:EssentialOilsAndRelatedAccessoriesMember
2021-01-01
2021-06-30
0001757715
ater:ProductRevenueMember
ater:OtherMember
2020-01-01
2020-06-30
0001757715
ater:ProductRevenueMember
ater:OtherMember
2021-01-01
2021-06-30
0001757715
ater:ProductRevenueMember
2020-01-01
2020-06-30
0001757715
ater:ProductRevenueMember
2021-01-01
2021-06-30
0001757715
us-gaap:CashAndCashEquivalentsMember
us-gaap:FairValueInputsLevel1Member
2020-12-31
0001757715
ater:RestrictedCashMember
us-gaap:FairValueInputsLevel1Member
2020-12-31
0001757715
us-gaap:FairValueInputsLevel3Member
ater:WarrantLiabilityMember
2020-12-31
0001757715
us-gaap:FairValueInputsLevel3Member
ater:ContingentEarnOutConsiderationMember
2020-12-31
0001757715
us-gaap:CashAndCashEquivalentsMember
us-gaap:FairValueInputsLevel1Member
2021-06-30
0001757715
ater:RestrictedCashMember
us-gaap:FairValueInputsLevel1Member
2021-06-30
0001757715
ater:ContingentEarnOutConsiderationMember
us-gaap:FairValueInputsLevel3Member
2021-06-30
0001757715
ater:ChangeInFairMarketValueOfWarrantLiabilityMember
us-gaap:FairValueInputsLevel3Member
2021-06-30
0001757715
ater:ChangeInFairValueOfDerivativeLiabilityMember
us-gaap:FairValueInputsLevel3Member
2021-06-30
0001757715
ater:MidCapCreditFacilityMember
2020-12-31
0001757715
ater:MidCapCreditFacilityMember
2018-11-23
0001757715
ater:MidCapCreditFacilityMember
2018-11-23
2018-11-23
xbrli:pure
0001757715
ater:MidCapCreditFacilityMember
us-gaap:LondonInterbankOfferedRateLIBORMember
2018-11-23
2018-11-23
0001757715
ater:MidCapCreditFacilityMember
2020-12-01
0001757715
ater:MidCapCreditFacilityMember
2020-12-01
2020-12-01
0001757715
ater:MidCapCreditFacilityMember
ater:SeniorSecuredNoteMember
2020-12-01
0001757715
ater:MidCapCreditFacilityMember
2021-06-30
0001757715
ater:MidCapCreditFacilityMember
2021-04-01
2021-06-30
0001757715
ater:TerminatedCreditAgreementMember
us-gaap:RevolvingCreditFacilityMember
2021-04-08
2021-04-08
0001757715
ater:HorizonTermLoanMember
2018-12-31
0001757715
us-gaap:LondonInterbankOfferedRateLIBORMember
ater:HorizonTermLoanMember
2018-01-01
2018-12-31
0001757715
ater:HorizonTermLoanMember
2018-01-01
2018-12-31
0001757715
ater:HorizonTermLoanMember
2020-12-01
2020-12-01
0001757715
ater:HorizonTermLoanMember
2020-01-01
2020-06-30
0001757715
ater:HorizonTermLoanMember
2021-01-01
2021-06-30
0001757715
ater:HighTrailLoanDecember2020NoteMember
2020-12-01
2020-12-01
0001757715
ater:HighTrailLoanDecember2020NoteMember
2020-12-01
ater:Installment
0001757715
ater:HighTrailLoanDecember2020NoteMember
2020-12-31
0001757715
ater:ZeroPercentageCouponSeniorSecuredPromissoryNoteMember
us-gaap:InvestorMember
ater:SecuritiesPurchaseAgreementMember
ater:HighTrailFebruary2021NoteMember
2021-02-02
0001757715
ater:ZeroPercentageCouponSeniorSecuredPromissoryNoteMember
us-gaap:InvestorMember
ater:SecuritiesPurchaseAgreementMember
ater:HighTrailFebruary2021NoteMember
2021-02-02
2021-02-02
0001757715
ater:HighTrailLoanDecember2020NoteMember
2020-01-01
2020-12-31
0001757715
ater:HighTrailDecember2020AndFebruary2021NoteMember
2021-04-01
2021-06-30
0001757715
ater:HighTrailDecember2020AndFebruary2021NoteMember
2021-01-01
2021-06-30
0001757715
ater:SeniorSecuredPromissoryNotesMember
us-gaap:PrivatePlacementMember
ater:SecuritiesPurchaseAgreementMember
ater:HighTrailLoanMember
2021-04-08
0001757715
ater:SeniorSecuredPromissoryNotesMember
us-gaap:PrivatePlacementMember
ater:SecuritiesPurchaseAgreementMember
ater:HighTrailLoanMember
2021-04-08
2021-04-08
0001757715
ater:SecuritiesPurchaseAgreementMember
us-gaap:CommonStockMember
ater:HighTrailLoanMember
2021-04-08
0001757715
ater:SecuritiesPurchaseAgreementMember
ater:HighTrailLoanMember
2021-04-08
2021-04-08
0001757715
us-gaap:PrivatePlacementMember
2021-04-08
2021-04-08
0001757715
ater:HighTrailApril2021NoteMember
2021-06-30
0001757715
ater:HighTrailApril2021NoteMember
2021-04-01
2021-06-30
0001757715
ater:DecemberWarrantMember
ater:HighTrailLoanDecember2020NoteMember
2020-12-01
0001757715
ater:DecemberWarrantMember
ater:HighTrailLoanDecember2020NoteMember
2020-12-01
2020-12-01
ater:TradingDay
0001757715
ater:DecemberWarrantMember
ater:HighTrailLoanDecember2020NoteMember
ater:WarrantLiabilityMember
2020-12-31
0001757715
ater:DecemberWarrantMember
ater:HighTrailLoanDecember2020NoteMember
2020-01-01
2020-12-31
0001757715
ater:HighTrailLetterAgreementMember
ater:DecemberWarrantMember
2021-02-07
2021-02-08
0001757715
ater:HighTrailLetterAgreementMember
ater:PennyWarrantMember
2021-02-08
0001757715
ater:HighTrailLetterAgreementMember
ater:PennyWarrantMember
us-gaap:CommonStockMember
2021-02-08
0001757715
ater:HighTrailLetterAgreementMember
ater:DecemberWarrantMember
us-gaap:CommonStockMember
2021-02-08
0001757715
ater:HighTrailAmendmentsMember
2021-02-07
2021-02-08
0001757715
srt:MinimumMember
ater:HighTrailAmendmentsMember
2021-02-07
2021-02-08
0001757715
srt:MaximumMember
ater:HighTrailAmendmentsMember
2021-02-07
2021-02-08
0001757715
ater:HighTrailAmendmentsMember
2021-02-08
0001757715
ater:AprilLetterAgreementMember
2021-04-08
0001757715
ater:SPAAmendmentMember
2021-01-01
2021-06-30
0001757715
ater:FebruaryWarrantPennyWarrantAndAdditionalWarrantMember
2021-01-01
2021-06-30
0001757715
us-gaap:RestrictedStockMember
2021-04-01
2021-06-30
0001757715
ater:AterianTwoThousandFourteenPlanMember
2021-06-30
0001757715
ater:TwoThousandEighteenEquityIncentivePlanMember
2021-06-30
0001757715
us-gaap:ShareBasedCompensationAwardTrancheOneMember
2021-01-01
2021-06-30
0001757715
us-gaap:ShareBasedCompensationAwardTrancheOneMember
ater:FirstAnniversaryMember
2021-01-01
2021-06-30
0001757715
us-gaap:ShareBasedCompensationAwardTrancheOneMember
ater:OverThirtySixMonthsMember
2021-01-01
2021-06-30
0001757715
us-gaap:ShareBasedCompensationAwardTrancheTwoMember
2021-01-01
2021-06-30
0001757715
us-gaap:ShareBasedCompensationAwardTrancheTwoMember
ater:FirstAnniversaryMember
2021-01-01
2021-06-30
0001757715
us-gaap:ShareBasedCompensationAwardTrancheTwoMember
ater:OverTwentyFourMonthsMember
2021-01-01
2021-06-30
0001757715
ater:TwoThousandNineteenEquityPlanMember
2021-06-30
0001757715
ater:TwoThousandNineteenEquityPlanMember
us-gaap:RestrictedStockMember
us-gaap:ShareBasedCompensationAwardTrancheOneMember
2021-01-01
2021-06-30
0001757715
ater:TwoThousandNineteenEquityPlanMember
us-gaap:RestrictedStockMember
us-gaap:ShareBasedCompensationAwardTrancheTwoMember
2021-01-01
2021-06-30
0001757715
ater:TwoThousandNineteenEquityPlanMember
us-gaap:RestrictedStockMember
us-gaap:ShareBasedCompensationAwardTrancheThreeMember
2021-01-01
2021-06-30
0001757715
ater:TwoThousandNineteenEquityPlanMember
us-gaap:RestrictedStockMember
ater:ShareBasedCompensationAwardsTrancheFourMember
2021-01-01
2021-06-30
0001757715
ater:TwoThousandNineteenEquityPlanMember
us-gaap:RestrictedStockMember
2021-01-01
2021-06-30
0001757715
2020-01-01
2020-12-31
0001757715
us-gaap:RestrictedStockMember
2020-12-31
0001757715
us-gaap:RestrictedStockMember
2021-06-30
0001757715
us-gaap:RestrictedStockMember
2020-03-12
2020-03-12
0001757715
us-gaap:RestrictedStockMember
2020-06-30
0001757715
us-gaap:RestrictedStockMember
2020-01-01
2020-06-30
0001757715
ater:SalesAndDistributionExpensesMember
2020-04-01
2020-06-30
0001757715
ater:SalesAndDistributionExpensesMember
2021-04-01
2021-06-30
0001757715
ater:SalesAndDistributionExpensesMember
2020-01-01
2020-06-30
0001757715
ater:SalesAndDistributionExpensesMember
2021-01-01
2021-06-30
0001757715
us-gaap:ResearchAndDevelopmentExpenseMember
2020-04-01
2020-06-30
0001757715
us-gaap:ResearchAndDevelopmentExpenseMember
2021-04-01
2021-06-30
0001757715
us-gaap:ResearchAndDevelopmentExpenseMember
2020-01-01
2020-06-30
0001757715
us-gaap:ResearchAndDevelopmentExpenseMember
2021-01-01
2021-06-30
0001757715
us-gaap:GeneralAndAdministrativeExpenseMember
2020-04-01
2020-06-30
0001757715
us-gaap:GeneralAndAdministrativeExpenseMember
2021-04-01
2021-06-30
0001757715
us-gaap:GeneralAndAdministrativeExpenseMember
2020-01-01
2020-06-30
0001757715
us-gaap:GeneralAndAdministrativeExpenseMember
2021-01-01
2021-06-30
0001757715
ater:SettlementAgreementMember
2021-05-02
2021-05-02
0001757715
ater:SettlementAgreementMember
2021-05-02
0001757715
ater:SettlementAgreementMember
ater:FirstPaymentMember
2021-05-31
0001757715
ater:SettlementAgreementMember
ater:SecondPaymentMember
srt:ScenarioForecastMember
2021-09-30
0001757715
ater:SettlementAgreementMember
ater:ThirdPaymentMember
srt:ScenarioForecastMember
2021-11-30
0001757715
ater:SettlementAgreementMember
ater:FirstPaymentMember
2021-01-01
2021-06-30
0001757715
ater:SettlementAgreementMember
2021-06-30
0001757715
ater:HealingSolutionsLLCMember
2021-02-02
2021-02-02
0001757715
ater:HealingSolutionsLLCMember
us-gaap:CommonStockMember
2021-02-02
2021-02-02
0001757715
ater:HealingSolutionsLLCMember
us-gaap:CommonStockMember
srt:MaximumMember
2021-02-02
2021-02-02
0001757715
ater:HealingSolutionsLLCMember
us-gaap:CommonStockMember
srt:MaximumMember
ater:AfterFifteenMonthsFollowingClosingDateMember
2021-02-02
2021-02-02
0001757715
ater:HealingSolutionsLLCMember
2021-02-02
0001757715
ater:HealingSolutionsLLCMember
ater:InventoryMember
2021-02-02
0001757715
ater:HealingSolutionsLLCMember
ater:WorkingCapitalMember
2021-02-02
0001757715
ater:HealingSolutionsLLCMember
us-gaap:TrademarksMember
2021-02-02
0001757715
us-gaap:TrademarksMember
ater:HealingSolutionsLLCMember
2021-02-02
2021-02-02
0001757715
ater:HealingSolutionsLLCMember
2020-04-01
2020-06-30
0001757715
ater:HealingSolutionsLLCMember
2020-01-01
2020-06-30
0001757715
ater:HealingSolutionsLLCMember
2021-04-01
2021-06-30
0001757715
ater:SquattyPottyLLCMember
2021-05-05
2021-05-05
0001757715
ater:SquattyPottyLLCMember
2021-05-05
0001757715
ater:SquattyPottyLLCMember
srt:ScenarioForecastMember
2021-01-01
2021-12-31
0001757715
ater:SquattyPottyLLCMember
ater:InventoryMember
2021-05-05
0001757715
ater:SquattyPottyLLCMember
ater:WorkingCapitalMember
2021-05-05
0001757715
ater:SquattyPottyLLCMember
us-gaap:TrademarksMember
2021-05-05
0001757715
ater:SquattyPottyLLCMember
us-gaap:CustomerRelationshipsMember
2021-05-05
0001757715
us-gaap:TrademarksMember
ater:SquattyPottyLLCMember
2021-05-06
2021-05-06
0001757715
ater:SquattyPottyLLCMember
2020-04-01
2020-06-30
0001757715
ater:SquattyPottyLLCMember
2021-04-01
2021-06-30
0001757715
ater:SquattyPottyLLCMember
2020-01-01
2020-06-30
0001757715
ater:PhotoPaperDirectLTDMember
2021-05-05
2021-05-05
0001757715
ater:PhotoPaperDirectLTDMember
us-gaap:CommonStockMember
2021-05-05
2021-05-05
0001757715
ater:PhotoPaperDirectLTDMember
ater:InventoryAndOtherWorkingCapitalAssetsIncludingCashOnHandMember
2021-05-05
0001757715
ater:PhotoPaperDirectLTDMember
srt:ScenarioForecastMember
2021-01-01
2021-12-31
0001757715
ater:PhotoPaperDirectLTDMember
srt:ScenarioForecastMember
2021-12-31
0001757715
ater:PhotoPaperDirectLTDMember
2021-05-05
0001757715
ater:PhotoPaperDirectLTDMember
ater:InventoryMember
2021-05-05
0001757715
ater:PhotoPaperDirectLTDMember
us-gaap:PropertyPlantAndEquipmentMember
2021-05-05
0001757715
ater:PhotoPaperDirectLTDMember
ater:RealPropertyMember
2021-05-05
0001757715
ater:PhotoPaperDirectLTDMember
ater:WorkingCapitalMember
2021-05-05
0001757715
ater:PhotoPaperDirectLTDMember
us-gaap:TrademarksMember
2021-05-05
0001757715
us-gaap:TrademarksMember
ater:PhotoPaperDirectLTDMember
2021-05-06
2021-05-06
0001757715
ater:PhotoPaperDirectLTDMember
2020-04-01
2020-06-30
0001757715
ater:PhotoPaperDirectLTDMember
2021-04-01
2021-06-30
0001757715
ater:PhotoPaperDirectLTDMember
2020-01-01
2020-06-30
0001757715
ater:SmashAssetsMember
2020-12-01
2020-12-01
0001757715
ater:SmashAssetsMember
2020-12-01
0001757715
ater:SmashAssetsMember
ater:SellersBrokersMember
2020-12-01
2020-12-01
0001757715
ater:SmashAssetsMember
ater:YearOneEarnOutMember
srt:ScenarioForecastMember
2021-01-01
2021-12-31
0001757715
ater:SmashAssetsMember
ater:YearOneEarnOutMember
srt:ScenarioForecastMember
2021-12-31
0001757715
ater:SmashAssetsMember
ater:YearTwoEarnOutMember
srt:ScenarioForecastMember
2022-12-31
0001757715
2020-12-01
2020-12-01
0001757715
ater:SmashAssetsMember
ater:YearOneEarnOutMember
2020-12-31
0001757715
ater:SmashAssetsMember
ater:YearOneEarnOutMember
2020-01-01
2020-12-31
0001757715
ater:SmashAssetsMember
ater:YearOneEarnOutMember
2021-06-30
0001757715
ater:SmashAssetsMember
ater:YearOneEarnOutMember
2021-04-01
2021-06-30
0001757715
ater:SmashAssetsMember
ater:YearOneEarnOutMember
2021-01-01
2021-06-30
0001757715
ater:HealingSolutionsLLCMember
ater:NineMonthsFollowingClosingDateMember
2021-01-01
2021-06-30
0001757715
ater:HealingSolutionsLLCMember
ater:AfterNineMonthsButBeforeTwelveMonthsFollowingClosingDateMember
2021-01-01
2021-06-30
0001757715
ater:HealingSolutionsLLCMember
ater:AfterTwelveMonthsButBeforeFifteenMonthsFollowingClosingDateMember
2021-01-01
2021-06-30
0001757715
ater:HealingSolutionsLLCMember
ater:AfterFifteenMonthsFollowingClosingDateMember
2021-01-01
2021-06-30
0001757715
ater:HealingSolutionsLLCMember
2021-06-30
0001757715
ater:SquattyPottyLLCMember
ater:EventOccursInTwelveMonthsEndedTwelveThirtyOneTwentyTwentyOneMember
2021-06-30
0001757715
ater:SquattyPottyLLCMember
ater:EventOccursInSixMonthsFollowingClosingDateMember
2021-06-30
0001757715
ater:SquattyPottyLLCMember
2021-05-06
2021-05-06
0001757715
ater:SquattyPottyLLCMember
2021-06-30
0001757715
ater:PhotoPaperDirectLTDMember
2021-06-30
0001757715
ater:SmashAssetsMember
2020-12-31
0001757715
ater:SmashAssetsMember
2021-01-01
2021-06-30
0001757715
ater:SmashAssetsMember
2021-06-30
0001757715
us-gaap:TrademarksMember
2019-12-31
0001757715
us-gaap:NoncompeteAgreementsMember
2019-12-31
0001757715
us-gaap:TransmissionServiceAgreementMember
2019-12-31
0001757715
us-gaap:TrademarksMember
2020-01-01
2020-12-31
0001757715
us-gaap:NoncompeteAgreementsMember
2020-01-01
2020-12-31
0001757715
us-gaap:TransmissionServiceAgreementMember
2020-01-01
2020-12-31
0001757715
us-gaap:TrademarksMember
2020-12-31
0001757715
us-gaap:NoncompeteAgreementsMember
2020-12-31
0001757715
us-gaap:TransmissionServiceAgreementMember
2020-12-31
0001757715
us-gaap:TrademarksMember
2021-01-01
2021-06-30
0001757715
us-gaap:NoncompeteAgreementsMember
2021-01-01
2021-06-30
0001757715
us-gaap:CustomerRelationshipsMember
2021-01-01
2021-06-30
0001757715
us-gaap:TrademarksMember
2021-06-30
0001757715
us-gaap:NoncompeteAgreementsMember
2021-06-30
0001757715
us-gaap:TransmissionServiceAgreementMember
2021-06-30
0001757715
us-gaap:CustomerRelationshipsMember
2021-06-30
0001757715
ater:HighTrailApril2021NoteMember
srt:MinimumMember
us-gaap:SubsequentEventMember
2021-08-09
0001757715
ater:HighTrailApril2021NoteMember
us-gaap:SubsequentEventMember
2021-08-09
0001757715
ater:HighTrailApril2021NoteMember
us-gaap:SubsequentEventMember
2021-08-09
2021-08-09
0001757715
us-gaap:SubsequentEventMember
2021-08-09
2021-08-09
0001757715
ater:LetterAgreementsMember
ater:HighTrailAprilTwoThousandAndTwentyOneNotesMember
us-gaap:SubsequentEventMember
2021-08-09
0001757715
ater:LetterAgreementsMember
ater:HighTrailAprilTwoThousandAndTwentyOneNotesMember
srt:ScenarioForecastMember
2021-08-11
0001757715
srt:MinimumMember
us-gaap:SubsequentEventMember
2021-08-09
2021-08-09
0001757715
srt:MaximumMember
us-gaap:SubsequentEventMember
2021-08-09
2021-08-09
0001757715
srt:MinimumMember
us-gaap:SubsequentEventMember
2021-08-09
0001757715
2021-02-02
2021-02-02
0001757715
2021-02-09
2021-02-09
0001757715
2021-04-08
2021-04-08
0001757715
us-gaap:SubsequentEventMember
2021-08-09
0001757715
2021-06-14
2021-06-15
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
(Mark One)
|
|
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended June 30, 2021
OR
|
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission File Number: 001-38937
Aterian, Inc.
(Exact name of registrant as specified in its charter)
Delaware |
|
83-1739858 |
(State or other jurisdiction of
incorporation or organization) |
|
(I.R.S. Employer Identification Number) |
37 East 18th Street, 7th Floor
New York, NY |
|
10003 |
(Address of principal executive offices) |
|
(Zip Code) |
(347) 676-1681
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, $0.0001 par value per share |
|
ATER |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer |
☐ |
|
Accelerated filer |
☒ |
Non-accelerated filer |
☐ |
|
Smaller reporting company |
☒ |
Emerging growth company |
☒ |
|
|
|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
As of August 4, 2021, the registrant had 35,734,767 shares of common stock, $0.0001 par value per share, outstanding.
Table of Contents
1
Special Note Regarding Forward-Looking Statements
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about:
|
• |
the potential impact of the COVID-19 global pandemic on our business, revenue and financial condition, including our supply chain and our operations; |
|
• |
our expectation that consumer spending will continue to shift online, and that such shift will continue even after the COVID-19 global pandemic ends; |
|
• |
our future financial performance, including our revenue, costs of goods sold and operating expenses; |
|
• |
our ability to achieve, sustain and grow profitability; |
|
• |
the sufficiency of our cash to meet our liquidity and operational needs and to execute our growth strategies, including potential acquisitions; |
|
• |
our ability to maintain the security and availability of our technology platform, including our AIMEE (Artificial Intelligence Marketplace e-Commerce Engine) software platform; |
|
• |
our ability to successfully launch new products, including our ability to successfully manage supply chain risks; |
|
• |
our ability to identify, complete and integrate merger and acquisition transactions; |
|
• |
our ability to successfully execute and grow net revenue and profitability from sales of personal protective equipment (“PPE”); |
|
• |
our predictions about industry and market trends; |
|
• |
our ability to successfully expand internationally; |
|
• |
our ability to effectively manage our growth and future expenses; |
|
• |
our estimated total addressable market, including for potential acquisitions; |
|
• |
our ability to maintain, protect and enhance our intellectual property, including our AIMEE software platform; |
|
• |
our ability to comply with modified or new laws and regulations applying to our business; |
|
• |
our ability to attract and retain key personnel; |
|
• |
our ability to successfully defend litigation brought against us or to pursue litigation; and |
|
• |
the increased expenses and obligations associated with being a public company. |
We caution you that the foregoing list may not contain all the forward-looking statements made in this Quarterly Report on Form 10-Q.
We have based the forward-looking statements contained in this Quarterly Report on Form 10-Q primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described in the section of this Quarterly Report on Form 10-Q entitled “Risk Factors” and elsewhere in this Quarterly Report on Form 10-Q. Moreover, we operate in a highly competitive and challenging environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q. We cannot assure you that the results, events and circumstances reflected, or that the plans, intentions or expectations disclosed, in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those expressed or implied by the forward-looking statements.
The forward-looking statements made in this Quarterly Report on Form 10-Q relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this Quarterly Report on Form 10-Q to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q, new information or the occurrence of unanticipated events, except as required by law. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, other strategic transactions or investments we may make or enter into.
2
PART I—FINANCIAL INFORMATION
Item 1. Financial Statements.
ATERIAN, INC.
Condensed Consolidated Balance Sheets
(Unaudited)
(in thousands, except share and per share data)
|
|
December 31, 2020 |
|
|
June 30, 2021 |
|
ASSETS |
|
|
|
|
|
|
|
|
CURRENT ASSETS: |
|
|
|
|
|
|
|
|
Cash |
|
$ |
26,718 |
|
|
$ |
61,934 |
|
Accounts receivable—net |
|
|
5,747 |
|
|
|
16,263 |
|
Inventory |
|
|
31,582 |
|
|
|
75,514 |
|
Prepaid and other current assets |
|
|
11,111 |
|
|
|
12,716 |
|
Total current assets |
|
|
75,158 |
|
|
|
166,427 |
|
PROPERTY AND EQUIPMENT—net |
|
|
169 |
|
|
|
1,350 |
|
GOODWILL—net |
|
|
47,318 |
|
|
|
118,619 |
|
OTHER INTANGIBLES—net |
|
|
31,460 |
|
|
|
69,115 |
|
OTHER NON-CURRENT ASSETS |
|
|
3,349 |
|
|
|
3,552 |
|
TOTAL ASSETS |
|
$ |
157,454 |
|
|
$ |
359,063 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES: |
|
|
|
|
|
|
|
|
Credit facility |
|
$ |
12,190 |
|
|
$ |
— |
|
Accounts payable |
|
|
14,856 |
|
|
|
39,455 |
|
Term loan |
|
|
21,600 |
|
|
|
72,791 |
|
Seller notes |
|
|
16,231 |
|
|
|
9,955 |
|
Contingent earn-out liability |
|
|
1,515 |
|
|
|
14,812 |
|
Accrued and other current liabilities |
|
|
8,340 |
|
|
|
24,673 |
|
Total current liabilities |
|
|
74,732 |
|
|
|
161,686 |
|
OTHER LIABILITIES |
|
|
1,841 |
|
|
|
614 |
|
CONTINGENT EARN-OUT LIABILITY |
|
|
21,016 |
|
|
|
20,986 |
|
TERM LOANS |
|
|
36,483 |
|
|
|
— |
|
Total liabilities |
|
|
134,072 |
|
|
|
183,286 |
|
COMMITMENTS AND CONTINGENCIES (Note 9) |
|
|
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
Common stock, par value $0.0001 per share—500,000,000 shares authorized and
27,074,791 shares outstanding at December 31, 2020; 500,000,000 shares
authorized and 35,734,767 shares outstanding at June 30, 2021 |
|
|
3 |
|
|
|
3 |
|
Additional paid-in capital |
|
|
216,305 |
|
|
|
487,605 |
|
Accumulated deficit |
|
|
(192,935 |
) |
|
|
(311,794 |
) |
Accumulated other comprehensive income |
|
|
9 |
|
|
|
(37 |
) |
Total stockholders’ equity |
|
|
23,382 |
|
|
|
175,777 |
|
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
$ |
157,454 |
|
|
$ |
359,063 |
|
See notes to condensed consolidated financial statements.
3
ATERIAN, INC.
Condensed Consolidated Statements of Operations
(Unaudited)
(in thousands, except share and per share data)
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
NET REVENUE |
|
$ |
59,800 |
|
|
$ |
68,188 |
|
|
$ |
85,428 |
|
|
$ |
116,324 |
|
COST OF GOODS SOLD |
|
|
32,200 |
|
|
|
35,445 |
|
|
|
47,530 |
|
|
|
57,518 |
|
GROSS PROFIT |
|
|
27,600 |
|
|
|
32,743 |
|
|
|
37,898 |
|
|
|
58,806 |
|
OPERATING EXPENSES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and distribution |
|
|
18,618 |
|
|
|
39,310 |
|
|
|
32,528 |
|
|
|
64,379 |
|
Research and development |
|
|
2,451 |
|
|
|
2,324 |
|
|
|
4,732 |
|
|
|
4,452 |
|
General and administrative |
|
|
8,352 |
|
|
|
9,990 |
|
|
|
16,355 |
|
|
|
20,965 |
|
Change in fair value of contingent earn-out liabilities |
|
|
— |
|
|
|
(23,349 |
) |
|
|
— |
|
|
|
(7,704 |
) |
TOTAL OPERATING EXPENSES: |
|
|
29,421 |
|
|
|
28,275 |
|
|
|
53,615 |
|
|
|
82,092 |
|
OPERATING INCOME (LOSS) |
|
|
(1,821 |
) |
|
|
4,468 |
|
|
|
(15,717 |
) |
|
|
(23,286 |
) |
INTEREST EXPENSE—net |
|
|
1,077 |
|
|
|
4,675 |
|
|
|
2,186 |
|
|
|
9,092 |
|
CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY |
|
|
— |
|
|
|
1,894 |
|
|
|
— |
|
|
|
1,894 |
|
LOSS ON EXTINGUISHMENT OF DEBT |
|
|
— |
|
|
|
29,772 |
|
|
|
— |
|
|
|
29,772 |
|
CHANGE IN FAIR VALUE OF WARRANT LIABILITY |
|
|
— |
|
|
|
4,387 |
|
|
|
— |
|
|
|
34,589 |
|
LOSS ON INITIAL ISSUANCE OF WARRANT |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
20,147 |
|
OTHER EXPENSE (INCOME) |
|
|
(6 |
) |
|
|
5 |
|
|
|
19 |
|
|
|
38 |
|
LOSS BEFORE INCOME TAXES |
|
|
(2,892 |
) |
|
|
(36,265 |
) |
|
|
(17,922 |
) |
|
|
(118,818 |
) |
PROVISION FOR INCOME TAXES |
|
|
45 |
|
|
|
41 |
|
|
|
45 |
|
|
|
41 |
|
NET LOSS |
|
$ |
(2,937 |
) |
|
$ |
(36,306 |
) |
|
$ |
(17,967 |
) |
|
$ |
(118,859 |
) |
Net loss per share, basic and diluted |
|
$ |
(0.19 |
) |
|
$ |
(1.23 |
) |
|
$ |
(1.17 |
) |
|
$ |
(4.26 |
) |
Weighted-average number of shares outstanding, basic and diluted |
|
|
15,425,312 |
|
|
|
29,547,781 |
|
|
|
15,308,966 |
|
|
|
27,886,582 |
|
See notes to condensed consolidated financial statements.
4
ATERIAN, INC.
Condensed Consolidated Statements of Comprehensive Loss
(Unaudited)
(in thousands)
|
|
Three Months Ended June 30, |
|
|
Six Months Ended
June 30, |
|
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
NET LOSS |
|
$ |
(2,937 |
) |
|
$ |
(36,306 |
) |
|
$ |
(17,967 |
) |
|
$ |
(118,859 |
) |
OTHER COMPREHENSIVE INCOME (LOSS): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments |
|
|
(7 |
) |
|
|
(76 |
) |
|
|
(9 |
) |
|
|
(46 |
) |
Other comprehensive loss |
|
|
(7 |
) |
|
|
(76 |
) |
|
|
(9 |
) |
|
|
(46 |
) |
COMPREHENSIVE LOSS |
|
$ |
(2,944 |
) |
|
$ |
(36,382 |
) |
|
$ |
(17,976 |
) |
|
$ |
(118,905 |
) |
See notes to condensed consolidated financial statements.
5
ATERIAN, INC.
Condensed Consolidated Statements of Stockholders’ Equity
(Unaudited)
(in thousands, except share and per share data)
|
|
Three Months Ended June 30, 2020 |
|
|
|
Common Stock |
|
|
Additional
Paid-in |
|
|
Accumulated |
|
|
Accumulated
Other
Comprehensive |
|
|
Total
Stockholders’ |
|
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Deficit |
|
|
Income/(Loss) |
|
|
Equity |
|
BALANCE—April 1, 2020 |
|
|
17,763,994 |
|
|
$ |
2 |
|
|
$ |
147,777 |
|
|
$ |
(144,839 |
) |
|
$ |
55 |
|
|
$ |
2,995 |
|
Net loss |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2,937 |
) |
|
|
— |
|
|
|
(2,937 |
) |
Forfeiture of 134,366 shares of restricted common stock |
|
|
(134,366 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Issuance of 134,364 shares of restricted common stock |
|
|
134,364 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Shares of restricted common stock
retired in connection with vesting |
|
|
(828 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Stock-based compensation |
|
|
— |
|
|
|
— |
|
|
|
5,171 |
|
|
|
— |
|
|
|
— |
|
|
|
5,171 |
|
Other comprehensive loss |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(7 |
) |
|
|
(7 |
) |
BALANCE—June 30, 2020 |
|
|
17,763,164 |
|
|
$ |
2 |
|
|
$ |
152,948 |
|
|
$ |
(147,776 |
) |
|
$ |
48 |
|
|
$ |
5,222 |
|
|
|
Three Months Ended June 30, 2021 |
|
|
|
Common Stock |
|
|
Additional
Paid-in |
|
|
Accumulated |
|
|
Accumulated
Other
Comprehensive |
|
|
Total
Stockholders’ |
|
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Deficit |
|
|
Income (Loss) |
|
|
Equity |
|
BALANCE—April 1, 2021 |
|
|
30,590,796 |
|
|
$ |
3 |
|
|
$ |
313,911 |
|
|
$ |
(275,488 |
) |
|
$ |
39 |
|
|
$ |
38,465 |
|
Net loss |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(36,306 |
) |
|
|
— |
|
|
|
(36,306 |
) |
Issuance of warrants to High Trail |
|
|
— |
|
|
|
— |
|
|
|
39,016 |
|
|
|
— |
|
|
|
— |
|
|
|
39,016 |
|
Issuance of common stock to High Trail |
|
|
130,000 |
|
|
|
— |
|
|
|
4,056 |
|
|
|
— |
|
|
|
— |
|
|
|
4,056 |
|
Reclassification of warrants to equity |
|
|
— |
|
|
|
— |
|
|
|
80,022 |
|
|
|
— |
|
|
|
— |
|
|
|
80,022 |
|
Issuance of 2,666,667 shares of common stock net of professional fees and offering costs |
|
|
2,666,667 |
|
|
|
— |
|
|
|
36,735 |
|
|
|
— |
|
|
|
— |
|
|
|
36,735 |
|
Issuance of 704,548 shares of common stock in connection with asset purchase agreement |
|
|
704,548 |
|
|
|
— |
|
|
|
11,075 |
|
|
|
— |
|
|
|
— |
|
|
|
11,075 |
|
Issuance of 1,895,642 shares of restricted common stock |
|
|
1,895,642 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Issuance of common stock related to exercise of warrants |
|
|
7,180 |
|
|
|
— |
|
|
|
112 |
|
|
|
— |
|
|
|
— |
|
|
|
112 |
|
Forfeiture of 258,971 shares of restricted common stock |
|
|
(258,971 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Cancellation of RSU issued to consultant |
|
|
(1,095 |
) |
|
|
— |
|
|
|
(57 |
) |
|
|
— |
|
|
|
— |
|
|
|
(57 |
) |
Stock-based compensation expense |
|
|
— |
|
|
|
— |
|
|
|
2,735 |
|
|
|
— |
|
|
|
— |
|
|
|
2,735 |
|
Other comprehensive loss |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(76 |
) |
|
|
(76 |
) |
BALANCE—June 30, 2021 |
|
|
35,734,767 |
|
|
$ |
3 |
|
|
$ |
487,605 |
|
|
$ |
(311,794 |
) |
|
$ |
(37 |
) |
|
$ |
175,777 |
|
6
ATERIAN, INC.
Condensed Consolidated Statements of Stockholders’ Equity
(Unaudited)
(in thousands, except share and per share data)
|
|
Six Months Ended June 30, 2020 |
|
|
|
Common Stock |
|
|
Additional Paid-in |
|
|
Accumulated |
|
|
Accumulated Other Comprehensive |
|
|
Total Stockholders’ |
|
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Deficit |
|
|
Income/(Loss) |
|
|
Equity |
|
BALANCE—January 1, 2020 |
|
|
17,736,649 |
|
|
$ |
2 |
|
|
$ |
140,477 |
|
|
$ |
(129,809 |
) |
|
$ |
57 |
|
|
$ |
10,727 |
|
Net loss |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(17,967 |
) |
|
|
— |
|
|
|
(17,967 |
) |
Issuance of 439,145 shares of
restricted common stock on
March 12, 2020 |
|
|
439,145 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Forfeiture of 371,329 shares of
restricted common stock |
|
|
(371,329 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Forfeiture of 134,366 shares of
restricted common stock |
|
|
(134,366 |
) |
|
|
— |
|
|
|
— |
|
|
|