Aspen Aerogels, Inc. Reports Second Quarter 2025 Financial Results and Recent Business Highlights

Core Insights - Aspen Aerogels reported a total revenue of $78 million for Q2 2025, a decrease from $117.8 million in Q2 2024, with gross margins at 32% and a significant improvement in Adjusted EBITDA by approximately 98% quarter-over-quarter [2][4][8]. Financial Performance - Total revenue for Q2 2025 was $78.0 million, down from $117.8 million in Q2 2024 [2]. - The company experienced a net loss of $9.1 million, which included $5.9 million in restructuring and impairment charges, compared to a net income of $16.8 million in Q2 2024. Adjusted for these charges, the net loss would be $3.2 million [3]. - Adjusted EBITDA for Q2 2025 was $9.7 million, down from $28.9 million in Q2 2024 [4]. - The company ended the quarter with cash and equivalents of $167.6 million [8]. Business Developments - The CFO transition to an internal successor is expected to ensure continuity in strategic direction and execution [1][6]. - Fixed cost structure reductions are anticipated to drive incremental profit in the second half of the year [1]. - The company is focusing on streamlining operations to enhance profitability and resilience, with a positive outlook for Adjusted EBITDA in the second half of 2025 [5]. Revenue Breakdown - Revenue from the Thermal Barrier segment was $55.2 million, a 13% increase quarter-over-quarter, while the Energy Industrial segment saw a revenue of $22.8 million, a 24% decrease quarter-over-quarter [8]. Second Half Outlook - The second half of 2025 outlook projects revenue between $140 million and $160 million, with an expected Adjusted EBITDA of $20 million to $30 million [10][31]. - The company anticipates maintaining a net cash position through year-end, supported by a leaner fixed cost structure and reduced capital expenditures [10].