Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Aterian, Inc.ATER · consumer durables | |
|---|---|
| Grade |  Eweakest fifth of 460 graded peers; percentile 91.9, sampling error 2.3 points; lower is stronger |
| Rank | 421 of 460 |
| Profitability | Bpercentile 34.4 |
| Solvency | D/Epercentile 78.3 |
| Growth and financing | Epercentile 95.3 |
| Reliability | 0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025 |
| Peer failure rate | 1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $12.5M to $120M assetstotal assets $29.6M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: distress |
| Inputs computable | 9 of 14 |
| Graded from | filings received through Mar 23, 2026200 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $0.612026-10-07; market equity $11.0M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Mar 23, 2026; the document on sec.gov.
See the sections contained within this Annual Report entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” for further information. Aterian, Inc. (the "Company") is a consumer products company that predominantly operates through online retail channels such as Amazon, Walmart, and Target and its own direct to consumer websites. The Company operates its owned brands, which were either incubated or purchased, selling products in multiple categories, including home and kitchen appliances, kitchenware, air quality appliances, health and beauty products and essential oils.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 34.4 | |||||||
| Gross profitability | 132.4% | [1,3] | 34.4% | 1.9 | 476 | 2025-12-31 | |
| Return on invested capital | not computable | 8.9% | |||||
| a prior annual debt, equity, and cash observation is required | |||||||
| Accruals ratio | (20.5%) | [1,4-6] | (5.1%) | 10.7 | 525 | 2025-12-31 | |
| Gross margin stability, five years | 5.5 pts | [2-3,7-14] | 1.7 pts | 90.6 | 407 | 2025-12-31 | |
| Solvency, sleeve percentile 78.3 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | (81.34) | [1,15-20] | 2.11 | 97.8 | 402 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 2.11x | |||||
| EBITDA must exceed $100,000 | |||||||
| Interest coverage | (18.78x) | [18,21] | 2.57x | 94.5 | 128 | 2025-12-31 | |
| Current ratio | 1.70x | [15-16] | 1.55x | 42.8 | 541 | 2025-12-31 | |
| Growth and financing, sleeve percentile 95.3 | |||||||
| Revenue growth, three-year compound | (32.2%) | [2,8,10,12] | 1.4% | 97.3 | 482 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 8.3% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 12.0% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Asset growth, three years | (42.6%) | [1,6,22-23] | 2.0% | 98.4 | 487 | 2025-12-31 | |
| Net share issuance, one year | 23.7% | [24-25] | (0.3%) | 90.3 | 382 | 2026-03-12 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.418; sampling error 2.3 percentile points on 460 peers.
Among 460 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 416 | Lulu's Fashion Lounge Holdings, Inc. (LVLU) Lulu's Fashion Lounge Holdings, Inc. (LVLU) Eweakest fifth; percentile 91.1 Nasdaq · Retail-Catalog & Mail-Order Houses market equity $35.0M; last close $12.12 No active warnings; 9 of 14 inputs | 91.1 | E | |
| 417 | Rocky Mountain Chocolate Factory, Inc. (RMCF) Rocky Mountain Chocolate Factory, Inc. (RMCF) Eweakest fifth; percentile 91.1 Nasdaq · Sugar & Confectionery Products market equity $9.9M; last close $1.03 Warnings: short runway, late filer, fortress balance sheet; 9 of 14 inputs | 91.1 | E | short runway, late filer, fortress balance sheet |
| 418 | QVC Group, Inc. (QVCG) QVC Group, Inc. (QVCG) Eweakest fifth; percentile 91.4 Nasdaq · Retail-Catalog & Mail-Order Houses last close $12.81 Warnings: late filer, fortress balance sheet; 9 of 14 inputs | 91.4 | E | late filer, fortress balance sheet |
| 419 | Universal Safety Products, Inc. (UUU) Universal Safety Products, Inc. (UUU) Eweakest fifth; percentile 91.8 NYSE · Wholesale-Electronic Parts & Equipment, NEC market equity $15.8M; last close $5.21 Warnings: dilution, late filer, fortress balance sheet; 8 of 14 inputs | 91.8 | E | dilution, late filer, fortress balance sheet |
| 420 | Beyond Meat, Inc. (BYND) Beyond Meat, Inc. (BYND) Eweakest fifth; percentile 91.9 Nasdaq · Food and Kindred Products market equity $132.9M; last close $7.73 Warnings: dilution, late filer; 8 of 14 inputs | 91.9 | E | dilution, late filer |
| 421 | Aterian, Inc. (ATER) Aterian, Inc. (ATER) Eweakest fifth; percentile 91.9 Nasdaq · Electric Housewares & Fans market equity $10.9M; last close $0.61 No active warnings; 9 of 14 inputs | 91.9 | E | |
| 422 | Accendra Health (ACH) Accendra Health (ACH) Eweakest fifth; percentile 92.2 NYSE · Wholesale-Medical, Dental & Hospital Equipment & Supplies market equity $34.1M; last close $0.45 Warnings: short runway; 10 of 14 inputs | 92.2 | E | short runway |
| 423 | Archer-Daniels-Midland Co. (ADM) Archer-Daniels-Midland Co. (ADM) Eweakest fifth; percentile 92.7 NYSE · Fats & Oils market equity $39.7B; last close $82.45 Warnings: late filer; 8 of 14 inputs | 92.7 | E | late filer |
| 424 | CHS Inc. (CHSCL) CHS Inc. (CHSCL) Eweakest fifth; percentile 93.4 Nasdaq · Wholesale-Farm Product Raw Materials last close $25.06 No active warnings; 10 of 14 inputs | 93.4 | E | |
| 425 | CHS Inc. (CHSCM) CHS Inc. (CHSCM) Eweakest fifth; percentile 93.4 Nasdaq · Wholesale-Farm Product Raw Materials last close $23.55 No active warnings; 10 of 14 inputs | 93.4 | E | |
| 426 | CHS Inc. (CHSCN) CHS Inc. (CHSCN) Eweakest fifth; percentile 93.4 Nasdaq · Wholesale-Farm Product Raw Materials last close $23.94 No active warnings; 10 of 14 inputs | 93.4 | E |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | E | 92.5 | 2204 |
| sector peers, equal sleeves (the grade) | E | 91.9 | 460 |
| same exchange, equal sleeves | E | 90.7 | 1219 |
| sector peers, equal inputs | E | 91.5 | 460 |
Each letter is one fifth of the 460 graded peers, about 92 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-07 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (61.9%) | (0.2%) | 5 | hotter than 5 of 100 peers |
| Distance from 52-week high | (56.2%) | (25.6%) | 14 | closer to its high than 14 of 100 peers |
| EBIT to enterprise value | (48.4%) | 5.0% | 7 | pricier than 93 of 100 peers |
| Free cash flow yield | (100.0%) | 4.6% | 4 | pricier than 96 of 100 peers |
| Book value to price | 1.15 | 0.45 | 82 | pricier than 18 of 100 peers |
| Sales to price | 6.30 | 1.49 | 91 | pricier than 9 of 100 peers |
| Composite equity issuance, five years | 198.9% | (16.0%) | 97 | more equity-funded than 97 of 100 peers |
| Relative strength against the sector, log excess return | (0.94) | (0.01) | 5 | ahead of 5 of 100 peers |
Inputs: market equity $10.9M; EBIT -$18.0M; free cash flow -$10.9M; book equity $12.6M; sales $69.0M; debt $28.7M; cash $2.5M[26].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (38.3%) | ✗ fail[4,6] |
| Operating cash flow above zero | -$10.9M | ✗ fail[5] |
| Return on assets improved | (19.1 pts) | ✗ fail[4,6,22,27] |
| Operating cash flow exceeds net income | $8.1M | ✓ pass[4-5] |
| Long-term leverage fell | n/a[1,6,22] | |
| Current ratio improved | (30.2 pts) | ✗ fail[15-16,28-29] |
| No new shares issued | 23.7% | ✗ fail[24-25] |
| Gross margin improved | (5.3 pts) | ✗ fail[2-3,7-8] |
| Asset turnover improved | (20.9 pts) | ✗ fail[2,6,8,22] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $2.5M[30] |
| Operating cash flow, four quarters | -$2.5M[5,30-34] |
| Months of runway | 12.1 |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 56 |
| 10-Q received Aug 14, 2026 | |
| Median daily dollar volume | $121,624 |
| 63 sessions | |
| Days since newest grade input | 200 |
Downloads [top]
|
Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $29.6M | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $69.0M | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $39.1M | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | -$19.0M | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$10.9M | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $49.5M | 2024-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $61.5M | 2024-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $99.0M | 2024-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $70.3M | 2023-12-31 | 2025-03-25 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $142.6M | 2023-12-31 | 2025-03-25 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $105.5M | 2022-12-31 | 2024-03-19 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $221.2M | 2022-12-31 | 2024-03-19 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $121.9M | 2021-12-31 | 2023-03-16 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $247.8M | 2021-12-31 | 2023-03-16 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $24.1M | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $14.1M | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$730.7M | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 18 | operating income | us-gaap:OperatingIncomeLoss | -$18.0M | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 19 | book equity | us-gaap:StockholdersEquity | $15.2M | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 20 | liabilities | us-gaap:Liabilities | $14.4M | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 21 | interest expense | us-gaap:InterestExpense | $957,000 | 2025-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 22 | assets | us-gaap:Assets | $61.9M | 2023-12-31 | 2025-03-25 | 10-K | filing · viewer · series |
| 23 | assets | us-gaap:Assets | $156.4M | 2022-12-31 | 2024-03-19 | 10-K | filing · viewer · series |
| 24 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 10,823,802 | 2026-03-12 | 2026-03-23 | 10-K | filing · viewer · series |
| 25 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 8,750,741 | 2025-03-21 | 2025-03-25 | 10-K | filing · viewer · series |
| 26 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 17,966,910 | 2026-08-12 | 2026-08-14 | 10-Q | filing · viewer · series |
| 27 | net income | us-gaap:NetIncomeLoss | -$11.9M | 2024-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 28 | current assets | us-gaap:AssetsCurrent | $38.7M | 2024-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 29 | current liabilities | us-gaap:LiabilitiesCurrent | $19.3M | 2024-12-31 | 2026-03-23 | 10-K | filing · viewer · series |
| 30 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $2.5M | 2026-06-30 | 2026-08-14 | 10-Q | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $75,000 | 2026-06-30 | 2026-08-14 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$363,000 | 2026-03-31 | 2026-05-15 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$9.9M | 2025-09-30 | 2025-11-13 | 10-Q | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$8.3M | 2025-06-30 | 2026-08-14 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 91.9 is 11.9 points from the nearest band edge; sampling error is 2.3 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
