ASPN
Aspen Aerogels, Inc.3.0800
-0.0300-0.97%
Dec 16, 4:00:03 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
254.55MP/E (TTM)
-Basic EPS (TTM)
-3.71Dividend Yield
0%Recent Filings
8-K
Q3 revenue plunges on EV woes
Aspen Aerogels reported Q3 2025 revenue of $73.0 million, down from $117.3 million a year ago, with Thermal Barrier sales dropping 12% QoQ amid U.S. EV slowdown but Energy Industrial up 7%. Gross margins fell to 28.5%; net loss narrowed to $6.3 million including $1.6 million restructuring charges. Updated 2025 outlook cuts revenue to $270-280 million, Adjusted EBITDA to $7-15 million. PyroThin award from major EU OEM starts 2027.
10-Q
Q3 FY2025 results
Aspen Aerogels posted Q3 revenue of $73.0M, down 38% y/y from $117.3M yet up sequentially (derived) as thermal barriers fell 46% to $48.7M on lower OEM volumes while energy industrial dipped 9% to $24.3M; gross profit plunged 58% to $20.8M (28% margin vs 42%), operating loss widened to $3.3M from income, and diluted EPS hit $(0.08) matching basic on 82.4M shares. YTD revenue dropped 30% to $229.8M with a $316.6M net loss driven by $287.6M Statesboro Plant impairment and $16.3M restructuring, offset by $16.7M operating cash flow minus $35.0M capex for negative FCF. Cash sits at $150.7M with $110.3M total debt (MidCap term loan at Term SOFR+5%, revolver $14.3M drawn/$26.8M available) and covenant compliance, but Q4 revenue weakness risks breaches. Customer concentration looms large.
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.
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