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Aterian, Inc. (Nasdaq: ATER), formerly known as Mohawk Group Holdings, Inc. (Nasdaq: MWK), announced a rebranding effective April 30, 2021. This change reflects its mission to enhance consumer product offerings through technology. Aterian employs its proprietary software, AIMEE™, which utilizes machine learning and data analytics to optimize product management across leading e-commerce platforms like Amazon and Walmart. The company aims to leverage acquisitions to expand its brand portfolio in a rapidly growing e-commerce market projected to reach $6.4 trillion by 2024.
Mohawk Group Holdings, Inc. (NASDAQ: MWK) announced it will report its Q1 2021 financial results on May 6, 2021, post-market close. Investors can attend a conference call at 5:00 p.m. ET on the same day via phone or live webcast. Mohawk is a tech-driven consumer products company specializing in machine learning and data analytics for product design and marketing, primarily through online channels like Amazon and Walmart. They operate twelve brands across various categories, including home appliances and beauty products.
Mohawk Group Holdings, Inc. (Nasdaq: MWK) announced the completion of refinancing its outstanding debt, totaling $110 million. This includes an exchange of senior secured notes and repayment of $14.8 million under its credit agreement. The new notes carry an 8% interest rate with a three-year maturity. Mohawk plans to use the remaining $40.8 million for acquisitions, working capital, and corporate purposes. CEO Yaniv Sarig emphasized this step aims to optimize capital for M&A strategies, especially the anticipated acquisition of Photo Paper Direct.
Mohawk Group Holdings, Inc. (MWK) reported a significant 61.9% increase in fourth quarter net revenue, reaching $41.5 million, and a full year growth of 62.3% to $185.7 million. The company raised its 2021 net revenue outlook to $350 million - $380 million as it expands its M&A strategy, appointing new leaders in corporate development. Operating loss decreased to $(34.8) million, with Adjusted EBITDA improving to $2.5 million. Mohawk intends to refinance $83.9 million in debt with a new $110 million senior secured note.
Mohawk Group Holdings, Inc. (NASDAQ: MWK) is set to release its financial results for the fourth quarter and year ending December 31, 2020, on March 8, 2021, after market close. A conference call will follow at 5:00 p.m. ET for investors to discuss the results. Participants can join the call via telephone or the internet, with specific dial-in numbers and a conference ID provided. Mohawk, a tech-enabled consumer products company, specializes in online retail and utilizes artificial intelligence for product development and marketing.
Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a strong fourth quarter for 2020, with $77 million in loans originated. The company noted $17 million in loan prepayments, indicating successful exits by portfolio companies. New loan commitments totaled $103.1 million, marking a significant increase from the previous quarter. As of December 31, 2020, the company holds a committed backlog of $106.5 million across 16 companies. Horizons' portfolio includes a diverse range of sectors, including technology and healthcare, potentially enhancing shareholder returns.
Mohawk Group Holdings (Nasdaq: MWK) announced its participation in two investor conferences in January 2021. The Company will present at the 2021 ICR Conference on January 11, 2021, at 1:30 PM EST, with a live audio webcast available here. Additionally, Mohawk will present at the 23rd Annual Needham Growth Conference on January 14, 2021, at 11:30 AM EST, accessible here. Recordings will be available for 90 days following each event.
Mohawk Group Holdings (MWK) announced the acquisition of e-commerce brands Mueller, Pursteam, Pohl and Schmitt, and Spiralizer for $25 million in cash and stock, as well as a promissory note of $15.8 million. The acquired brands generated $77.5 million in revenue and $13.1 million in operating income over the last twelve months. Mohawk raised its 2020 revenue outlook to $180-$190 million and anticipates 2021 revenue of $290-$320 million. The company also refinanced its term loan, raising $38 million through a Senior Secured Note.
Mohawk Group Holdings (NASDAQ: MWK) announced a remarkable 531% revenue growth over the fiscal years 2016 to 2020, as recognized by its ranking of 226th on Deloitte’s 2020 Technology Fast 500™. This accolade highlights the company's impressive performance in the tech-enabled e-commerce sector. CEO Yaniv Sarig attributes this success to their AIMEE platform and a responsive supply chain, emphasizing resilience during challenging times.
Mohawk Group Holdings, Inc. (NASDAQ: MWK) reported a 45% year-over-year net revenue growth to $58.8 million for Q3 2020, an improvement from $40.6 million in Q3 2019. The company achieved a net loss of $0.8 million, a significant reduction from a $15.0 million loss in the prior year. Adjusted EBITDA rose to $5.1 million compared to a loss of $2.7 million in Q3 2019. Gross margin improved to 47.8% from 43.2% in the same period last year. The cash balance increased by $20.2 million to $37.4 million. Mohawk anticipates full-year revenue between $175 million and $185 million.
