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Aterian cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$424K in Q2 2026 · −$2.6M over twelve months

Operating cash flow$438K
Capital spending−$14K
Free cash flow+$424K
Cash conversion cycle-27574 days

Analysis

In Q2 2026, Aterian generated $438K of operating cash flow and spent $14K on capital projects, leaving free cash flow of $424K. That is $4.8M more than in Q2 2025 (−$4.4M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$2.5M; the largest uses were net borrowing (+) / repaid (−) ($8.1M), operating cash flow ($2.5M), capital spending ($63K); besides operations, cash came from other financing ($2.9M); the cash balance fell by $8.0M.

Operating cash flow was $438K against net income of −$491K. The largest differences: stock-based pay +$289K, prepaid and other assets −$183K, inventory −$3K.

Its cash conversion cycle was -27574 days (receivables 6 + inventory 766 − payables 28346): suppliers fund its working capital.

Free cash flow

Aterian: free cash flow by quarterAterian: free cash flow by quarter−$722KQ3 2024−$9KQ4 2024−$3.9MQ1 2025−$4.4MQ2 2025−$1.6MQ3 2025−$1.0MQ4 2025−$367KQ1 2026$424KQ2 2026
Operating cash flow less capital spending.
Aterian: operating cash flow against capital spendingAterian: operating cash flow against capital spendingOperating cash flowCapital spending−$722K$0Q3 2024−$9K$0Q4 2024−$3.9M$0Q1 2025−$4.4M$6KQ2 2025−$1.6M$40KQ3 2025−$1.0M$5KQ4 2025−$363K$4KQ1 2026$438K$14KQ2 2026
Latest (Q2 2026): Operating cash flow $438K, Capital spending $14K.

Capital allocation, year by year

Aterian: where the cash came from (up) and went (down), by fiscal yearAterian: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2021: Operating cash flow −$42.0MFY2021: Net borrowing $10.0MFY2021: Capital spending −$32K$10.0MFY2021FY2022: Operating cash flow −$17.5MFY2022: Net borrowing −$15.6MFY2022: Shares issued $46.8MFY2022: Capital spending −$82K$46.8MFY2022FY2023: Operating cash flow −$13.4MFY2023: Net borrowing −$11.1MFY2023: Capital spending −$119KFY2023FY2024: Operating cash flow $2.2MFY2024: Net borrowing −$4.9MFY2024: Capital spending −$42K$2.2MFY2024FY2025: Operating cash flow −$10.9MFY2025: Net borrowing −$3.0MFY2025: Capital spending −$51KFY2025
Over these 5 years operating cash flow totalled −$81.6M; the largest uses were operating cash flow ($83.7M) and net borrowing ($34.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.5M
Debtnone
Net cash$2.5M
Cash runway12 months

Aterian is burning cash: its operations consume cash, a free cash flow of −$2.6M a year at the current rate against $2.5M of cash and investments: a runway of about 12 months before any new financing.

Where the cash came from and went

Aterian: sources (+) and uses (−) of cash, Q2 2026Aterian: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$438KCash drawn (+) / kept (−)−$219KOther financing−$216KCapital spending−$14KExchange rates$11K
Aterian: sources (+) and uses (−) of cash, TTM to Q2 2026Aterian: sources (+) and uses (−) of cash, TTM to Q2 2026Net borrowing (+) / repaid (−)−$8.1MCash drawn (+) / kept (−)$8.0MOther financing$2.9MOperating cash flow−$2.5MExchange rates−$177KCapital spending−$63K

From profit to cash

Aterian: net income to operating cash flow, Q2 2026Aterian: net income to operating cash flow, Q2 2026Net income−$491KDepreciation & amortization$1KStock-based pay$289KReceivables$1KInventory−$3KPrepaid and other assets−$183KOperating cash flow$438K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 2026676628346-27574
Q1 2026185857307-6704
Q4 202581193493
Q3 20251319659151
Q2 20251518763140
Q1 20252124270193
Q4 20241315544124
Q3 20241215464103

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$438K−$14K—−$219K$424K
Q1 2026−$363K−$4K−$1.8M$2.5M−$367K
Q4 2025−$1.0M−$5K−$2.0M$2.7M−$1.0M
Q3 2025−$1.6M−$40K−$1.1M$3.0M−$1.6M
Q2 2025−$4.4M−$6K−$428K$4.2M−$4.4M
Q1 2025−$3.9M—$519K$3.3M−$3.9M
Q4 2024−$9K—$291K−$424K−$9K
Q3 2024−$722K—−$3.2M$3.8M−$722K

Aterian: income statement and cash flow

Aterian, Q2 2026: revenue $7K (-100% year over year). The chart follows the revenue to costs, profit and cash.

Aterian: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.