Financial Performance - Total revenue for FY 2024 was $452.7 million, a 90% year-over-year increase from $238.8 million in FY 2023[4] - Q4 2024 revenue reached $123.1 million, up 46% year-over-year from $84.3 million in Q4 2023[2] - FY 2024 net income was $13.4 million, compared to a net loss of $45.8 million in FY 2023, reflecting a $59.2 million improvement[4] - Adjusted EBITDA for FY 2024 was $89.9 million, a significant increase of $112.8 million from $(22.9) million in FY 2023[5] - Revenue for Q4 2024 was $123,088,000, a 46% increase from $84,219,000 in Q4 2023[28] - Gross profit for Q4 2024 was $47,133,000, compared to $29,618,000 in Q4 2023, representing a 59% increase[28] - Net income for Q4 2024 was $11,362,000, compared to a net loss of $519,000 in Q4 2023[28] - Adjusted EBITDA for Q4 2024 was $22,694,000, up from $9,132,000 in Q4 2023[32] Cash Flow and Assets - The company generated $20.9 million of free cash flow in Q4 2024, ending the year with $220.9 million in cash[1] - Cash and cash equivalents at the end of Q4 2024 were $221,276,000, compared to $101,618,000 at the end of Q3 2024[30] - Total current assets increased to $409,448,000 in Q4 2024 from $266,331,000 in Q4 2023, a growth of 54%[26] - Total stockholders' equity increased to $614,705,000 in Q4 2024 from $488,055,000 in Q4 2023, a rise of 26%[26] Liabilities and Expenditures - Total liabilities rose to $280,439,000 in Q4 2024 from $214,993,000 in Q4 2023, an increase of 30%[26] - Capital expenditures for Q1 2025, excluding costs related to the Statesboro plant project, are expected to be less than $7 million[14] Future Outlook - Q1 2025 revenue is expected to range between $75 million and $95 million, with a projected net loss between $15 million and breakeven[14] - The company expects a net loss of up to $15,000,000 for Q1 2025, with an Adjusted EBITDA outlook ranging from $0 to $15,000,000[32] Operational Developments - Aspen was awarded a contract to supply PyroThin Thermal Barriers for a Volvo Truck commercial vehicle program, indicating market expansion[7] - The company plans to maximize capacity at its East Providence manufacturing facility and has halted the construction of the Statesboro plant project[10] Research and Development - Research and development expenses for Q4 2024 were $4,405,000, slightly up from $4,075,000 in Q4 2023[28] Gross Margins - Gross margins improved to 40% in FY 2024, a sixteen-percentage point increase over 2023[8]

Core Insights - Aspen Aerogels, Inc. reported a total revenue of $452.7 million for FY 2024, representing a 90% year-over-year increase [3][6] - The company achieved a net income of $13.4 million for the year, a significant turnaround from a net loss of $45.8 million in 2023 [3][6] - Adjusted EBITDA for FY 2024 was $89.9 million, compared to a loss of $22.9 million in the previous year, indicating a substantial improvement in operational performance [3][6] Financial Performance - Q4 2024 revenue reached $123.1 million, up from $84.3 million in Q4 2023, marking a 46% increase [2][6] - The company reported a net income of $11.4 million in Q4 2024, compared to a net loss of $0.5 million in the same quarter of 2023 [2][6] - Gross margins improved to 40% for FY 2024, a 16 percentage point increase from 2023 [6][15] Business Developments - Aspen secured a contract to supply PyroThin® Thermal Barriers for Volvo Truck's commercial vehicle program, expanding its customer base [8][9] - The company ended FY 2024 with $220.9 million in cash and generated $20.9 million in free cash flow during Q4 [7][6] - Aspen is demobilizing its planned second aerogel manufacturing facility in Statesboro, Georgia, and will focus on maximizing capacity at its existing East Providence facility [10][11] Operational Efficiency - The Energy Industrial segment generated record revenue of $53.1 million in Q4 2024, a 70% increase year-over-year [6][9] - Approximately 91% of Energy Industrial revenues were supplied through an external manufacturing facility, a significant increase from 10% in Q4 2023 [6][10] - Capital expenditures for FY 2024 were reduced to $86.3 million, down from $175 million in 2023, reflecting a more capital-efficient approach [6][15] Future Outlook - For Q1 2025, the company expects revenue to range between $75 million and $95 million, with a projected net loss between $15 million and breakeven [12][14] - The Q1 2025 outlook includes anticipated depreciation and amortization of $5.8 million and stock-based compensation expense of $2.7 million [12][14] - Management expressed confidence in the company's strong balance sheet, which supports various growth opportunities and capital efficiency initiatives [11][9]

Core Viewpoint - Aspen Aerogels (ASPN) is anticipated to report a significant year-over-year increase in earnings and revenues for the quarter ended December 2024, with earnings expected to be $0.09 per share, reflecting a +1000% change, and revenues projected at $121 million, up 43.7% from the previous year [1][3]. Earnings Expectations - The upcoming earnings report is scheduled for February 12, and the stock may experience upward movement if the reported numbers exceed expectations, while a miss could lead to a decline [2]. - The consensus EPS estimate has been revised 23.21% higher in the last 30 days, indicating a positive reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP for Aspen Aerogels is +53.12%, suggesting a strong likelihood of beating the consensus EPS estimate [11]. - The Most Accurate Estimate is higher than the Zacks Consensus Estimate, indicating recent bullish sentiment among analysts regarding the company's earnings prospects [10]. Historical Performance - Aspen Aerogels has a history of exceeding consensus EPS estimates, having beaten expectations in the last four quarters, including a notable surprise of +210% in the last reported quarter [12][13]. Industry Context - In the Zacks Building Products - Miscellaneous industry, Masco (MAS) is expected to report earnings of $0.88 per share, reflecting a +6% year-over-year change, with revenues projected at $1.84 billion, down 2.2% from the previous year [17]. - Masco's consensus EPS estimate has remained unchanged over the last 30 days, but it has an Earnings ESP of -0.98%, making it challenging to predict a beat on the consensus EPS estimate [18].

Settlement Agreement - Aspen Aerogels has reached a settlement with AMA S p A and AMA Composites S r l to resolve a patent dispute regarding the unauthorized sale of infringing aerogel insulation materials in Europe [1] - The settlement concludes Aspen's legal action against AMA before the Court of Genoa, Italy [1] Company Commitment - Aspen remains committed to protecting its intellectual property rights worldwide and promoting fair competition in the marketplace [2] - The company will continue to take appropriate measures to safeguard its intellectual property and support fair industry practices [2] Company Overview - Aspen Aerogels is a technology leader in sustainability and electrification solutions, focusing on resource efficiency, e-mobility, and clean energy [3] - The company's PyroThin® products address thermal runaway challenges in the electric vehicle (EV) market [3] - Aspen's carbon aerogel initiative aims to enhance lithium-ion battery cell performance, reducing EV charging time and costs [3] - Cryogel® and Pyrogel® products are highly valued by major energy infrastructure companies [3] - Aspen's strategy involves partnering with industry leaders to expand its Aerogel Technology Platform® into high-value markets [3]

Company Overview - Aspen Aerogels, Inc. is a technology leader in sustainability and electrification solutions, focusing on resource efficiency, e-mobility, and clean energy [4] - The company's aerogel technology supports customers in addressing global megatrends [4] Financial Results Announcement - Aspen Aerogels will discuss its financial results for the fourth quarter and fiscal year 2024 during a conference call on February 13, 2025, at 8:30 a.m. ET [1] - Financial results will be released on February 12, 2025, after market close [1] Conference Call Participation - Shareholders and interested parties can join the conference call by dialing specific numbers and referencing the conference ID "890624" [2] - A live listen-only webcast will be available on the Investors section of Aspen's website [2] Webcast Replay - A replay of the webcast will be accessible on the Investor Relations section of Aspen's website for approximately one year after the conference call [3] Product and Market Focus - Aspen's PyroThin® products address thermal runaway challenges in the electric vehicle market [4] - The carbon aerogel initiative aims to enhance lithium-ion battery performance, reducing charging time and costs for EV manufacturers [4] - The Cryogel® and Pyrogel® products are utilized by major energy infrastructure companies [4] - Aspen's strategy involves partnering with industry leaders to expand its Aerogel Technology Platform into high-value markets [4]

Core Viewpoint - Aspen Aerogels (ASPN) shares have seen a slight increase of 0.1% over the past four weeks, closing at $13.16, with analysts suggesting a potential upside of 120.4% based on a mean price target of $29 [1] Price Targets - The average price target consists of 11 estimates ranging from a low of $14 to a high of $35, with a standard deviation of $5.59, indicating variability among analysts [2] - The lowest estimate suggests a 6.4% increase from the current price, while the highest estimate indicates a potential upside of 166% [2] - A low standard deviation signifies greater agreement among analysts regarding price movement [2][7] Analyst Sentiment - Analysts are increasingly optimistic about ASPN's earnings prospects, as evidenced by a strong consensus in revising EPS estimates higher, which correlates with potential stock price increases [4][9] - Over the past 30 days, one estimate has increased with no negative revisions, leading to a 0.2% rise in the Zacks Consensus Estimate [10] Zacks Rank - ASPN holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside [11] Caution on Price Targets - While price targets are a common metric, they should not be the sole basis for investment decisions due to historical inaccuracies in predicting actual stock price movements [5][8] - Analysts may set overly optimistic price targets influenced by business relationships, which can lead to inflated estimates [6]

Aspen Aerogels, Inc. (NYSE:ASPN) Q3 2024 Earnings Conference Call November 7, 2024 8:30 AM ET Company Participants Neal Baranosky – Senior Director of Corporate of Strategy & Finance Donald R. Young – President and CEO Ricardo C. Rodriguez – CFO and Treasurer Conference Call Participants Eric Stine - Craig-Hallum Capital Colin Rusch - Oppenheimer George Gianarikas - Canaccord Genuity Alexander Potter - Piper Sandler Ryan Pfingst - B. Riley Securities Thomas Curran - Seaport Research Partners Jeffrey Osborne ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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, 2024 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 juris ...

November 7, 2024 ASPEN AEROGELS Q3 2024 FINANCIAL RESULTS CALL 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 t ...

Aspen Aerogels (ASPN) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of a loss of $0.10 per share. This compares to loss of $0.19 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 210%. A quarter ago, it was expected that this maker of insulation products would post earnings of $0.05 per share when it actually produced earnings of $0.21, delivering a surprise of 320%. Over the last fou ...