Consumer products company Aterian experienced a 13.3% decline in Q1 net revenue, falling from $48.1 million to $41.7 million YoY.
The firm experienced a net loss of $42.8 million -- an improvement from the $81.6% million reported for Q1 2021.
In addition, there was an operating loss of $36.3 million, versus $27.8 million during the same period last year.
However, Q1 gross margin rose to 56.6% -- up from to 54.1% YoY. But the contribution margin fell to 9.2%, down from 12.7% last year, mostly due to global supply chain disruptions and inflation.“Our efforts to optimize our financial strength and our investments in our team and infrastructure should allow us to weather the unpredictable environment and position us to drive growth both organically and through our accretive M&A strategy as the global supply chain stabilizes,” states co-founder and CEO Yaniv Sarig.