Aterian vs Boqii Holding
Aterian is the larger business, with $69.0m of revenue in fiscal 2025 against $59.2m for Boqii Holding (1.2 times as much). Boqii Holding grew faster (-8.9% against -30.4%). Boqii Holding kept more of each dollar of sales as profit: a net margin of -1.2% against -27.5%. Boqii Holding carries less debt relative to equity (17.0% against 28.0%).
| Latest fiscal year | AterianATER, 2025 | Boqii HoldingBQ, 2026 |
|---|---|---|
| Revenue | $69.0m | $59.2m |
| Revenue growth | -30.4% | -8.9% |
| Net income | −$19.0m | −$715,229 |
| Operating margin | -26.1% | -7.1% |
| Net margin | -27.5% | -1.2% |
| Return on equity | -83.9% | -2.7% |
| Free cash flow | −$10.9m | −$4.3m |
| Cash | $4.9m | $7.2m |
| Total debt | $4.3m | $4.6m |
| Debt to equity | 28.0% | 17.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $9.2m | $1.8m |
| Price vs our value range | — | — |
| Moat score | 25 (Weak) | — |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |