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

 

 

 

Page

PART I.

FINANCIAL INFORMATION

 

Item 1.

Financial Statements (Unaudited)

3

 

Condensed Consolidated Balance Sheets

3

 

Condensed Consolidated Statements of Operations

4

 

Condensed Consolidated Statements of Comprehensive Loss

5

 

Condensed Consolidated Statements of Stockholder’s Equity

6

 

Condensed Consolidated Statements of Cash Flows

8

 

Notes to Unaudited Condensed Consolidated Financial Statements

10

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

31

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

50

Item 4.

Controls and Procedures

50

PART II.

OTHER INFORMATION

 

Item 1.

Legal Proceedings

51

Item 1A.

Risk Factors

51

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

63

Item 3.

Defaults Upon Senior Securities

63

Item 4.

Mine Safety Disclosures

63

Item 5.

Other Information

63

Item 6.

Exhibits

65

Signatures

69

 

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

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of 134,364 shares of

  restricted common stock

 

 

134,364

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

 

 

 

 

 

 

12,610