Aterian(US:ATER) GlobeNewswire News Roomยท2024-06-26 20:30Management Changes - Arturo Rodriguez has been appointed as the new Chief Executive Officer, previously serving as Co-CEO and CFO [1][2] - Josh Feldman has been appointed as Chief Financial Officer, previously the Senior Vice President of Finance [1][2] - Joe Risico has resigned as Co-CEO and from the Board of Directors, transitioning to a consulting role for three months [1][2] Financial Performance Update - The company has improved its second quarter 2024 net revenue guidance to a range of $23 million to $26 million, up from the previous range of $20 million to $23 million [3] - Adjusted EBITDA loss for the second quarter 2024 is now expected to be between a loss of $1.0 million to breakeven, an improvement from the prior loss range of $2.0 million to $1.0 million [3] - The expected cash balance as of June 30, 2024, is projected to be between $17 million and $18 million, with approximately $10 million in borrowing under its credit facility [4] Company Overview - Aterian, Inc. is a technology-enabled consumer products company focused on building and acquiring leading e-commerce brands across various categories, including home and kitchen appliances, health and wellness, and air quality devices [8] - The company primarily sells through major online marketplaces, with a focus on Amazon and Walmart in the U.S. and its own direct-to-consumer websites [8]