Aspen Aerogels (ASPN) reported $78.72 million in revenue for the quarter ended March 2025, representing a year-over-year decline of 16.7%. EPS of -$0.06 for the same period compares to $0.01 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $82.94 million, representing a surprise of -5.08%. The company delivered an EPS surprise of +14.29%, with the consensus EPS estimate being -$0.07.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Washington, D.C. 20549 FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36481 ASPEN AEROGELS, INC. (Exact name of registrant as specified in its charter) Delaware 04-3559972 (State or other jurisdict ...

Aspen Aerogels (ASPN) Q1 2025 Earnings Call May 08, 2025 08:30 AM ET Company Participants Neal Baranosky - Senior Director, Head of Investor Relations & Corporate StrategyDonald Young - President & CEORicardo Rodriguez - CFO & TreasurerColin Rusch - Managing Director - Head of Sustainable Growth & Resource Optimization ResearchLeanne Hayden - Senior Associate - Equity Research Conference Call Participants David Anderson - Analyst Operator Good morning. Thank you for attending the Aspen Aerogel First Quarter ...

Aspen Aerogels (ASPN) Q1 2025 Earnings Call May 08, 2025 08:30 AM ET Speaker0 Good morning. Thank you for attending the Aspen Aerogel First Quarter twenty twenty five Financial Results Call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. I would now like to turn the conference over to your host, Neil Baranowski, Aspen's Senior Director, Head of Investor Relations and Corporate Strategy. Thank you. You may proceed, Mr. Baranowski. ...

Aspen Aerogels (ASPN) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this maker of insulation products would post earnings of $0.09 per share when it actually produced earnings of $0.15, delivering a surprise of 66.67%.Over the last four quarte ...

Q1 2025 FINANCIAL RESULTS CALL May 8, 2025 ASPEN AEROGELS Disclaimer on Forward Looking Statements This presentation and any related discussion contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements, including statements relating to Aspen's financial ...

Exhibit 99.1 Aspen Aerogels, Inc. Reports First Quarter 2025 Financial Results and Recent Business Highlights For Immediate Release Delivered revenues of $78.7 million and operating cash flow of $5.6 million New PyroThin award with leading American OEM for next-gen prismatic LFP vehicle platform NORTHBOROUGH, Mass., May 8, 2025 — Aspen Aerogels, Inc. (NYSE: ASPN) ("Aspen" or the "Company"), a technology leader in sustainability and electrification solutions, today announced financial results for the first q ...

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Revenue Growth - Total revenue for the years ended December 31, 2024, 2023, and 2022 was $452.7 million, $238.7 million, and $180.4 million, respectively, representing a significant year-over-year growth [29]. - Revenue from thermal barrier aerogel products reached $306.8 million in 2024, a significant increase from $110.1 million in 2023 and $55.6 million in 2022, indicating strong growth in demand [46]. - Total revenue from outside the United States amounted to $194.2 million, representing 43% of total revenue in 2024 [76]. - Revenue from the top ten direct customers represented 84% of total revenue in 2024, 80% in 2023, and 72% in 2022 [142]. - GM and Distribution accounted for 64% and 6% of total revenue in 2024, respectively; 41% and 14% in 2023; and 25% and 22% in 2022 [142]. Product Demand and Market Position - PyroThin thermal barriers sales reached $306.8 million in 2024, up from $110.1 million in 2023 and $55.6 million in 2022, indicating a strong demand in the EV market [16]. - The company’s aerogel insulation products provide two to five times the thermal performance of traditional insulation, positioning them competitively in the market [45]. - The company is developing carbon aerogel technology to enhance lithium-ion battery performance, aiming to reduce charging time to 5-10 minutes [17]. - The company’s aerogel thermal barrier technology is designed to mitigate thermal runaway in lithium-ion battery systems, providing critical safety and performance benefits [18][37]. - The company is focusing on the EV market, having entered into contracts with major automotive manufacturers like GM and Toyota for thermal barrier products [120]. Manufacturing and Production Capacity - The company plans to achieve target revenue capacity in 2025 through productivity improvements and external manufacturing capabilities [27][28]. - The company has increased manufacturing capacity and productivity at its East Providence facility since 2008, with plans for further improvements to meet expected demand for aerogel products by 2025 [84][86]. - The company employs a flexible supply strategy, including external manufacturing capabilities in China, to enhance production capacity [86]. - The company has contracted with a manufacturer in China to produce supplemental supply of its Pyrogel XTE and Cryogel Z products [88]. - The company has ceased construction of a second manufacturing plant in Statesboro, Georgia, and is assessing options to derive value from the assets [86]. Financial Performance and Challenges - Aspen Aerogels reported a net income of $13.4 million for the fiscal year ended December 31, 2024, following net losses of $45.8 million and $82.7 million for the years ended December 31, 2023 and 2022, respectively [116]. - The company has an accumulated deficit of $660.2 million as of December 31, 2024, indicating ongoing financial challenges [116]. - The company anticipates significant cash outlays during 2025 for maintaining aerogel manufacturing operations, highlighting the need for additional capital [117]. - The company’s ability to generate positive cash flow in future years is uncertain, and it may need to raise additional capital to achieve expected growth [128]. - The company is seeking partnerships with industry leaders to optimize its proprietary carbon aerogels for lithium-ion batteries, previously entering an evaluation agreement with SKC Co., Ltd. [199]. Market Risks and Competition - The company operates in a competitive environment, facing increasing competition in both the thermal barrier and energy industrial insulation markets [37][38]. - The company faces significant competition in the automotive industry, particularly from established Chinese firms with more experience in supplying EV OEMs [124]. - The company’s thermal barrier products may face reduced demand if automotive OEMs shift to less thermally demanding cell chemistries [131]. - The company is exposed to credit risk from direct customers, including distributors and contractors, which may lead to non-payment for products [211]. - The company faces substantial competition in the EV battery materials market, with competitors having greater name recognition and larger customer bases, which may hinder customer attraction and retention [196]. Supply Chain and Material Costs - Material costs accounted for 38%, 36%, and 51% of product revenue for the years ended December 31, 2024, 2023, and 2022, respectively, highlighting a focus on cost management [53]. - The company plans to expand the supply of raw materials by securing commitments from existing suppliers and identifying additional suppliers to meet the expected demand for PyroThin thermal barriers in the EV market [161]. - The company has expanded its supplier base beyond North America to Europe and Asia, specifically China, to mitigate supply chain risks [162]. - The company experienced significant increases in the costs of certain silica precursor materials, which constituted over 50% of its raw material costs during the years ended December 31, 2018, and December 31, 2021 [157]. - The company’s operations are subject to various geopolitical and economic risks, including trade relations and foreign exchange fluctuations [136]. Strategic Initiatives and Future Outlook - The company aims to leverage its Aerogel Technology Platform to develop innovative products for applications beyond the insulation market, targeting new high-value markets [47]. - The company plans to expand its sales force and business development resources globally to support anticipated growth in customers and demand [64]. - The company is planning to expand operations outside the United States, which introduces additional economic and political risks [116]. - The company may consider strategic acquisitions to grow its business, which would require significant capital and increase future operational costs [118]. - The company’s growth in the EV market is highly dependent on consumer acceptance and willingness to purchase EVs [190].