Aterian, Inc. (ATER): restructuring charge — Aterian Q1 net revenue down 16% to $34.9M, cuts 100 jobs, CFO adds COO role

Aterian, Inc.

2023-Q1 EPS reported -$0.34 revenue$34,879,000

Q1 net revenue $34.9M vs $41.7M YoY; net loss $(25.8)M vs $(42.8)M; adj. EBITDA loss $(4.3)M.
Headcount reduction of ~70 employees and 30 contractors; annualized savings $6M; severance $1.0-$1.3M.
CFO Arturo Rodriguez named interim COO; Chief Supply Chain Officer Michal Chaouat-Fix to exit June 1.
Chief E-Commerce Officer Tim Stanton leaving; Phil Lepper to lead revenue team.
Q2 revenue guidance $37-$44M; adj. EBITDA loss $(5.2)M-$(6.2)M; reaffirms H2 2023 adj. EBITDA profitability.

item 2.02 item 9.01 item 2.05 item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Michal Chaouat-Fix

Chief Supply Chain Officer

ATER · Aterian, Inc.

Effective: 2023-06-01
Filed: May 9, 2023, 7:59 PM ET

the termination of Chief Supply Chain Officer Michal Chaouat-Fix effective June 1, 2023

Role change (interim)

Arturo Rodriguez

interim Chief Operating Officer

ATER · Aterian, Inc.

Effective: 2023-05-09
Filed: May 9, 2023, 7:59 PM ET

the appointment of Chief Financial Officer Arturo Rodriguez to the additional role of interim Chief Operating Officer

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Aterian, Inc. reported the first quarter ended March 31, 2023 results: revenue $34.9 million, net income $(25.8) million. Guidance reaffirmed.

Period: the first quarter ended March 31, 2023
Revenue: $34.9 million
Net income: $(25.8) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Aterian Reports First Quarter 2023 Results Reports First Quarter 2023 Net Revenue of $34.9 Million

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michal Chaouat-Fix was terminated as Chief Supply Chain Officer at Aterian, Inc..

Action: terminated
Role: Chief Supply Chain Officer

Exact text from the filing

the termination of Chief Supply Chain Officer Michal Chaouat-Fix effective June 1, 2023

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Arturo Rodriguez was appointed as interim Chief Operating Officer at Aterian, Inc..

Action: appointed to additional role
Role: interim Chief Operating Officer

Exact text from the filing

the appointment of Chief Financial Officer Arturo Rodriguez to the additional role of interim Chief Operating Officer

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Aterian, Inc. announced a restructuring with charges of between $1.0 million to $1.3 million (approximately 70 employees and 30 contractors globally).

Type: restructuring
Charge: between $1.0 million to $1.3 million
Headcount: approximately 70 employees and 30 contractors globally

Exact text from the filing

connection with these reductions. The Company expects to recognize restructuring charges in connection with the headcount reduction plan from primarily from severance of between $1.0 million to $1.3 million. The Company expects the charges will be recognized primarily in the second quarter of 2023, with the majority of such charges anticipated to be paid by the end

View on SEC.gov

20 earnings releases filed in the last 30 days. Browse all earnings releases →

Aterian, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-019807

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