Financial Data and Key Metrics Changes - Total revenue for 2021 increased by $21.3 million to $121.6 million compared to 2020, driven by growth in energy infrastructure, electric vehicle (EV) thermal barriers, and sustainable building materials [11] - Net loss increased to $37.1 million or $1.22 per share in 2021, compared to a net loss of $21.8 million or $0.83 per share in 2020 [12] - Adjusted EBITDA was negative $26 million in 2021, compared to negative $6.4 million in 2020 [12] - Cash used in operations was $18.6 million, with capital expenditures of $13.8 million [13] Business Line Data and Key Metrics Changes - Energy infrastructure revenue increased by $12.6 million, EV thermal barrier revenue contributed $6.7 million, and sustainable building materials revenue grew by $1.9 million [11] - The company estimates that production output was depressed by $6 to $8 million in Q4 2021 due to COVID-related staffing issues and raw material shortages [11] Market Data and Key Metrics Changes - The company is experiencing revenue growth in principal markets, particularly in the EV market and European sustainable building materials market [9] - The outlook for 2022 includes a revenue target of $145 to $155 million, representing a growth of 19% to 27% compared to 2021 [14] Company Strategy and Development Direction - The company plans to invest in personnel and resources to support e-mobility opportunities, including capital expenditures for a second silica aerogel manufacturing plant [10][15] - The company aims to double revenue from 2021 to 2023 and triple revenue from 2023 to 2025, targeting approximately $720 million in 2025 [20][21] - The second manufacturing plant will be located in Statesboro, Georgia, with an expected revenue capacity of approximately $1.35 billion [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of the energy infrastructure market and the growth of the EV market, with improvements in staffing and raw material availability noted [11][14] - The company is focused on creating significant value with its aerogel technology platform and is positioned to be a valued supplier to EV producers [40] Other Important Information - The company received a $150 million investment from Koch Strategic Platforms, which will support its growth initiatives [19] - The company plans to publish its first ESG report in 2022, formalizing its environmental and social efforts [28] Q&A Session Summary Question: Can you provide clarity on the 10 OEMs that you shipped to in 2021? - Management indicated that revenue generation means providing prototype materials to potential long-term customers and that they are becoming more expert in the field [44] Question: Is it more about the development on the OEM side for timing on more work? - Management confirmed that they have a strong solution providing real value to these companies and are confident in their position for future awards [46] Question: Can you discuss the non-PyroThin revenue? - Management clarified that non-PyroThin revenue refers to other materials integrated into the thermal barrier assembly [55] Question: What is the expected cost per square meter for the Georgia facility compared to Rhode Island? - Management noted that the Georgia plant is designed to be more productive and energy-efficient, leading to significant operational cost savings [59] Question: Are you working on evolving the formula for PyroThin technology? - Management confirmed ongoing efforts to enhance performance and capture more volume through improved understanding and engagement with OEMs [68]

Aspen Aerogels, Inc. (NYSE:ASPN) Q3 2021 Earnings Conference Call October 28, 2021 5:00 PM ET Company Participants Laura Guerrant – Vice President-Investor Relations and Corporate Communications Don Young – President and Chief Executive Officer John Fairbanks – Chief Financial Officer Conference Call Participants Eric Stine – Craig-Hallum Colin Rusch – Oppenheimer Alex Potter – Piper Sandler Jed Dorsheimer – Canaccord Genuity Amit Dayal – H.C. Wainwright Chris Souther – B. Riley Tom Curran – Seaport Researc ...

Market Opportunity - The company sees multi-billion dollar commercial opportunities by deploying its technology platform into ESG driven markets[7] - The total addressable market (TAM) for EV thermal barrier solutions is estimated to be $30 billion from 2021-2030[7, 18] - The total addressable market (TAM) for EV battery materials is estimated to be $37 billion from 2021-2030[7] - The total addressable market (TAM) for sustainable building materials is estimated to be $8 billion from 2021-2030[7, 32] - The total addressable market (TAM) for energy infrastructure is estimated to be $31 billion from 2021-2030[7] Financial Targets and Achievements - The company targets $225 million in revenue and a 30% gross margin in 2023[7] - The company aims to double revenue every 24 months through 2025[7] - The company has over $1 billion installed base in energy infrastructure and is growing its share[7, 42] - The company has $50 million installed base in sustainable building materials and is growing[7, 36] - The company has $1 billion of potential revenue from current EV thermal barrier customers[7] Technology and Products - The company's PyroThin™ thermal barriers mitigate cell-to-cell energy propagation in the event of thermal runaway[13] - The company is targeting initial commercial launch of its Si-rich carbon aerogel materials in 2023[28]

Aspen Aerogels, Inc. (NYSE:ASPN) Q1 2021 Earnings Conference Call April 29, 2021 5:00 PM ET Company Participants John Fairbanks - Chief Financial Officer Don Young - President & Chief Executive Officer Conference Call Participants Eric Stine - Craig-Hallum Chris Souther - B. Riley Jed Dorsheimer - Canaccord Doug Becker - Northland Capital Amit Dayal - H.C. Wainwright Jeffrey Campbell - Alliance Global Partners Operator Good day and thank you for standing by. Welcome to the Aspen Aerogels Q1 2021 Earnings Ca ...

Aspen Aerogels, Inc. (NYSE:ASPN) Q4 2020 Earnings Conference Call February 18, 2021 5:00 AM ET Company Participants John Fairbanks - Chief Financial Officer Don Young - President & Chief Executive Officer Conference Call Participants Eric Stine - Craig-Hallum Jed Dorsheimer - Canaccord Tom Curran - B. Riley Securities Amit Dayal - H.C. Wainwright Doug Becker - Northland Capital Operator Ladies and gentlemen, thank you for standing by and welcome to the Aspen Aerogels Inc. Q4 2020 Earnings Call. At this time ...