a discuss we a year. considerations path this for talked announced today. to the e-commerce strategic Thank the as we in I’ll focused takeaways over go from we’re topics. call. the on first of over changing the Aterian explain Ilya, And forward Today the call, environment. you, thanks a on go few I’m going everyone and the rapidly on restructuring finally, I’ll quarter following I’ll
departing decision employees a heart and face all the trials Today XX everyone’s of very Aterian significant employees to through contractors the contribution our and the I’m of difficult for our and with dedication goes affected. over out grateful will way. to XX a making company. interpolation undergo is deeply restructuring the My
We of be and few put company to resilience and years heart the proud into all very we challenges through hard worked should the getting all we overcome during them. last the incredible
As reach a together. have headwinds would for forward hope work very headcount and reduce profitability. to we we keep required Unfortunately, us to team, leadership the to continuing all look always that we’re to face make not we we and changes to that a hard our path will have
executed that During rapid we strategy trend growth the we Aterian. that and was to experienced e-commerce Aterian’s our sized correctly would current expected team and the trajectory. continue support pandemic We to accrued believe that an believe will aggressive be M&A
underestimated e-commerce retailers economic economy a the were other COVXX. impact companies, like and result Unfortunately, wrong. an overheating of and -- many the as We we the of --
reduced severe reduced we As last contribution keep inflation, e-commerce I margin. and excess goods, years the hard mentioned, fought chain through our for disruptions, for teams including many obstacles, demand together inventory to supply two
to issues. Since year, the those worked the team beginning of tirelessly in everyone fix
and we M&A company’s additional to us growth restart hope with to would path While were our contribution increase jump-start looking deal flywheel. flow to for that margin allow the profitability the
second in and make we transaction cannot to that profitability sustainability comfortable would ultimately efforts it decided to starting costs year. more this get fixed get Despite of EBITDA we us the with on our achieve exploration adjusted to cut sense executing half several opportunities, of and our
similar in we positioned not to the these many very M&A like has we’re at with to optimistic been be ideal. ours targets us, discussion challenges believe continue It’s and of we the our clarify very continue the the just dealing timing scale. and to of important that about execute considering be very to to Unfortunately, deals strategy are we
we businesses a believe to more our we industry, a be will stable some in in these in of normalization better happen much the position As environment. continues that acquisitions to on evaluate
to a adjusting more becoming towards continue focus work profitability company world to goals, these getting today, growth no a our that we to longer and longer to we goal is mission. While hand-in-hand. on where get we’re a in XXX% committed value. where We’ll without take long-term growth more what go might us first patient and hope guess plan working on to profitability and It to efficient
to results, our cost. inventory continue we be normalize our to our quarter regards first With efforts and levels to pleased with
cost are and where they levels half were inventory the basis normalized year. versus second entering Our last
our margin, with increase to average to due low brands to average that as forced CM container stay price. in an shipping seeing were cost our product prices across at XX% to of business. contribution our reminder, and cost normal versus a X% of contribution margin us as a container of forced consumer some well our average These industry of per XX%, goods to $XX,XXX an costs generate ship of X% at by as target we XXXX skyrocketing in As products an additional only incurred the XXXX,
substantially the As -- per shipping dropped cost as has to our going basis half our the levels. is we inventory to enter second EBITDA of container average our year, and pre-pandemic improve cost
our half to able fixed that be the combined second will of with of efforts, at on level in deliver profitable cost EBITDA remain the adjusted optimistic to the we our cutting the We XXXX. goods, lower cost promise
active markets facing look us. peer We’ll that our a and challenges opportunities is to in long-term Aterian bit continue consolidation efforts like of industry aware private the now and follow for continue to similar speak within with to give are we’re There who strategy discussions where M&A those. in of companies we’ll are have group the about with our our accretive view several industry and I’d believe for the going. we
months that massive impact the models. exponential We’re general. will believe in new six revolution progress AI industry We in also in field very a our carefully this studying breakthroughs the large achieved world have by in on the the last and led language
these take we expects. now to look steps five-plus adjust years, forward they we anyone to believe As arrive the to changes than to will we as faster next need that
especially to the what the on believe of happen consumer journey future. We’re focused will we
Specifically, big that search we today. analytics products consumer a that approach for potentially the by very way related role believe and and for consumer to always demand. driven play been recommendation predictions is long-term meaningful will very agents our products -- the launching in to product has conversational Aterian, given replace the search consumer This
puts more make favorable current we disrupted an While in advantage that the COVID will ensuing spot in business, our believe give five the position the over Aterian changes and a to actually economic have next world that years, the us industry. our
had to occurred that not have Strangely of the had to a it even these is difficult to more needed might our two today, thrive last future adjustments business events adapt make been years and incredible and company every focus It’s our early towards to share on foremost, core mean we’re the to Aterian changes and battling business speed. is, bit our the what profitable. on making first a for working the
today our thing should versus One regards other about we to marketing. that further is belief balance that our with brand efforts performance we can speak
convert more a they look of to branding. our solve familiar the are for in to product possible refers distinction, the consumers as to a market problem a For when performance making marketing who to with a those transactional where a people of regardless approach marketing them, are for the that for the product. refers often think marketing about brands Brand who effort we best similar searching encounter particular problem opposed will
through consumer performance Most very Aterian and platform. known, has expertise specific our well performance not are oriented for performed developed well a they marketing Historically, products. our analytics brands in of but
of effort forward, will more build brand our assets. Going portfolio we balance and for awareness this several
efforts and on pay the difficult our the run future day this a also in we’re in a a is off call, mission. we remarks pursue this we for necessary company, e-commerce to platform challenges the on will consumer are facing, Despite leading become my believe details close more that but we direction to the long-term step to have To the look making quarters. forward strategy sharing our in long and
that, I’ll on to results. it pass With the Arty discuss financial to