Aspen Aerogels, Inc.
7.90-0.09 (-1.13%)
Oct 29, 4:00:02 PM EDT · NYSE · ASPN · USD
Key Stats
Market Cap
650.65MP/E (TTM)
-Basic EPS (TTM)
-3.81Dividend Yield
0%Recent Filings
8-K
CFO promotion announced
Aspen Aerogels promotes Grant Thoele to Chief Financial Officer and Treasurer, effective October 1, 2025, succeeding Ricardo C. Rodriguez. The role comes with a $390,000 base salary, 60% performance bonus target, and a $300,000 equity grant split across PSUs, RSUs, and options vesting over three years. This leadership shift bolsters financial oversight amid aerogel market demands, yet ties Thoele to one-year non-compete with severance up to two times pay post-change of control.
8-K
Q2 revenue dips, EBITDA surges
Aspen Aerogels reported Q2 2025 revenue of $78 million, down from $118 million a year ago, with gross margins rising to 32% and Adjusted EBITDA doubling to $9.7 million quarter-over-quarter amid restructuring charges. The company announced CFO Ricardo Rodriguez's departure at Q3 end, succeeded by internal hire Grant Thoele to maintain strategic focus. Restructuring sharpens costs; H2 outlook projects $140-160 million revenue and $20-30 million Adjusted EBITDA. Transition ensures continuity, yet EV regulatory headwinds loom.
10-Q
Q2 FY2025 results
Aspen Aerogels posted Q2 revenue of $78.0M, down 34% y/y from $117.8M, with thermal barriers at $55.2M (71% of total) sliding 32% on softer OEM orders and pricing, while energy industrial dipped 38% to $22.8M amid petrochemical slowdowns. Gross profit shrank to $25.3M (32% margin) from $51.6M (44%), squeezed by unabsorbed overheads and lower volumes, yet operating loss narrowed to $5.2M versus prior profit as restructuring trimmed expenses. Free cash flow turned positive at $1.7M operating cash minus $25.9M capex, bolstering $167.6M cash against $133.3M debt under the MidCap facility (maturing 2029, Term SOFR +5.0%). Restructuring hit with $287.6M impairment on the idled Statesboro plant, now $26.5M held for sale. Diluted EPS of -$0.11 aligns with 82.2M shares. Customer concentration lingers as a drag.
10-Q
Q1 2025 results
Aspen Aerogels, Inc. reported Q1 2025 revenue of $78.7 million, down 17% year-over-year, with gross profit at $22.8 million (29% margin) versus $35.1 million (37% margin) in Q1 2024. Operating loss was $299.4 million, driven by a $286.6 million impairment on the Statesboro facility, compared to $1.8 million profit last year. Net loss was $301.2 million ($3.67 per share) versus $1.8 million loss ($0.02 per share) in Q1 2024. Cash and equivalents stood at $192.0 million, with $299.4 million total debt. EBITDA was negative $299.3 million, breaching covenants but cured via equity contribution. Liquidity was $192.0 million, above the $75.0 million threshold. The company halted Statesboro construction, impairing $286.6 million in assets, and amended its credit facility to adjust covenants.
8-K
Q1 revenue dips amid impairment
Aspen Aerogels reported Q1 2025 revenue of $78.7 million, down 17% year-over-year, with Thermal Barrier sales dropping 25% to $48.9 million while Energy Industrial rose 3% to $29.8 million. A massive $286.6 million impairment charge from scrapping its second Georgia plant, plus $9.8 million in restructuring costs, drove a net loss of $301.2 million—yet adjusted net loss was just $4.8 million. They snagged a PyroThin deal with a top U.S. automaker for 2028 LFP EV production. Q2 outlook sees revenue at $70-80 million, with adjusted EBITDA from breakeven to $7 million. Cash burn hurts, but $192 million liquidity holds.
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