Aspen Aerogels, Inc. (NYSE:ASPN) Q1 2020 Earnings Conference Call April 30, 2020 5:00 PM ET Company Participants John Fairbanks - Chief Financial Officer Don Young - President and Chief Executive Officer Conference Call Participants Eric Stine - Craig-Hallum Thomas Curran - B. Riley FBR Sameer Joshi - H.C. Wainwright Jed Dorsheimer - Canaccord Genuity Operator Ladies and gentlemen, thank you for standing by and welcome to the Aspen Aerogels Incorporated Q1 2020 Earnings Conference Call. [Operator Instructio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 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 jurisdiction o ...

Aspen Aerogels, Inc. (NYSE:ASPN) Q4 2019 Earnings Conference Call February 20, 2020 5:00 PM ET Company Participants John Fairbanks - Chief Financial Officer Don Young - President & Chief Executive Officer Conference Call Participants Eric Stine - Craig-Hallum Chip Moore - Canaccord Thomas Curran - B. Riley FBR Amit Dayal - H.C. Wainwright Operator Ladies and gentlemen, thank you for standing by and welcome to the Aspen Aerogels Q4 Earnings Conference Call. At this time, all participants are in listen-only m ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol Name of exchange on which registered Common Stock ASPN The New York Stock Exchange FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 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 ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2019 grew by 36% to $29.5 million from $21.7 million in Q2 2018 [19] - Net loss improved to $5.3 million or $0.22 per share from $7 million or $0.29 per share year-over-year [19] - Adjusted EBITDA was negative $1.7 million compared to negative $3.2 million a year ago [19] Business Line Data and Key Metrics Changes - Product revenue was $28.9 million and research services contributed $0.6 million, marking a 36% increase from last year [20] - Project revenue accounted for 38% of total revenue in the first half of 2019, exceeding the target of 33% [9] Market Data and Key Metrics Changes - Total shipments increased by 18% to 8.4 million square feet of aerogel blankets, with an average selling price rising by 16% to $3.43 per square foot [21] - The subsea market showed strong growth, contributing significantly to revenue during the quarter [20] Company Strategy and Development Direction - The company aims for over 20% revenue growth in 2019 and a growing percentage of revenue from project work [8] - Focus on profitability through gross margin improvement initiatives, with expectations for gross margins to reach the low to mid-20% range in the second half of 2019 [12] - New business creation initiative targeting the battery materials market, leveraging aerogel technology [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting 2019 performance indicators, including revenue growth and adjusted EBITDA targets [17] - Anticipated revenue wins from the Middle East, particularly from Saudi Aramco, are expected to impact business positively [36] Other Important Information - The company revised its full-year revenue guidance to between $126 million and $134 million, with adjusted EBITDA expected to range between breakeven and positive $1.6 million [27] - Capital expenditures for the year are projected at approximately $2.5 million [29] Q&A Session Summary Question: Potential partnership in the battery material space - Management reiterated the goal of establishing a partnership in 2019 and noted progress in discussions with major battery players [30] Question: Crossover opportunities with Technip and LNG projects - Management confirmed strong relationships with Technip and ongoing efforts to participate in LNG projects, including the Arctic LNG project [33][34] Question: Impact of qualification with Saudi Aramco - Management expects to see increased revenue from the Middle East, including contributions from Saudi Aramco, later in the year [36] Question: Raw material cost reduction efforts - Initiatives to lower costs are being implemented across all product lines, with a focus on optimizing formulations and negotiating lower prices [39] Question: Average selling price trends - The company anticipates selective price increases in the future, following a significant increase in 2019 to match raw material cost increases [42] Question: Project pipeline in the LNG space - Management highlighted a strong project pipeline, including both large and small-scale projects, with significant opportunities in the LNG sector [45]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol Name of exchange on which registered Common Stock ASPN The New York Stock Exchange FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 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 ASPE ...