Phillip Lepper, the Chief Revenue Officer of Aterian, Inc. (NASDAQ:ATER), recently sold 1,711 shares of the company’s common stock. The sale, which took place on December 13, 2024, was executed at a weighted average price of $2.35 per share, amounting to a total transaction value of $4,020. The shares were sold to satisfy tax withholding obligations upon the vesting of restricted stock awards. Following this transaction, Lepper retains ownership of 177,934 shares in the company. According to InvestingPro analysis, Aterian's stock is currently trading below its Fair Value, with 12 additional key insights available to subscribers.
In other recent news, Aterian reported its Q3 2024 earnings, meeting its net revenue and adjusted EBITDA targets despite a 34% year-over-year decline in net revenue to $26.2 million. The company's adjusted EBITDA performance saw a remarkable 100% increase year-over-year, largely driven by sales from hOmeLabs dehumidifiers and Pursteam steam products, coupled with effective cost-cutting measures. Aterian also announced its plans to expand into Latin America through a partnership with Mercado Libre and launch core products on Target (NYSE:TGT) Plus.
The company is optimistic about the upcoming holiday season and has a robust growth strategy for 2025, which includes new product launches and an omnichannel expansion. Aterian's management reported a strong cash position of $16.1 million and forecasted Q4 net revenue between $22.5 million and $25.5 million. The company is also focusing on strategic M&A opportunities for long-term benefits.
Notably, Aterian faced a 34% drop in net revenue year-over-year, moderated to 15% after accounting for SKU rationalization. As part of the recent developments, the company is considering re-entering previously discontinued product categories that align with their brand vision. Aterian's participation in the upcoming 15th Annual Craig-Hallum Alpha Select Conference in New York City will provide further opportunities for investor engagement and updates on its strategic direction.
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