Aspen Aerogels(US:ASPN)2025-05-08 11:38Q1 2025 Financial Performance - Revenues decreased to $78.7 million, including $48.9 million from Thermal Barrier revenues and $29.8 million from Energy Industrial revenues, which increased by 3% year-over-year[11] - Net loss was $(301.2) million, which included a $286.6 million impairment charge for Plant II and $9.8 million of restructuring and demobilization costs[11, 12] - Adjusted EBITDA was $4.9 million[11] - Capital expenditure was reduced by 50% year-over-year to $13.0 million[11] - Operating cash flow was $5.6 million[11] - Gross margins were 29%[10] Cost Optimization and Outlook - Fixed costs were lowered by $35 million in February with a goal of further reduction to 2022 levels[9] - Q2 2025 outlook projects revenues between $70 million and $80 million and Adjusted EBITDA between $0 million and $7 million[17] - The company aims to reduce the revenue required for breakeven EBIT to $270 million[21] Market Trends and Strategy - GM and Honda accounted for approximately 16.6% of all electric vehicles sold in the United States year-to-date in 2025[31] - Global EV production is projected to increase at a 17% compound annual growth rate (CAGR) through 2030[40]