ASPI

MKT CAP:$452M

ASP Isotopes Inc. Common Stock

Market Cap

$452M

Basic Materials·Chemicals·🇺🇸 United States·NASDAQ

Materials·Chemicals·🇺🇸·NASDAQ

Stock Price

$5.35-$0.28 (-4.97%)

Apr 24, 2026

Company Details

ASP Isotopes Inc., a pre-commercial stage advanced materials company, focuses on the production, distribution, marketing, and sale of isotopes. It develops Molybdenum-100, a non-radioactive isotope for the medical industry; Carbon-14; and S...

CEO

Paul Elliot Mann

IPO Date

Nov 10, 2022

Website

aspisotopes.com

Key Metrics TTM

Revenue

$24M

+583.4% YoY

Net Income

-$175M

EPS (Diluted)

-$2.14

Free Cash Flow

-$47M

Revenue / Share

$0.25

Gross Margin

14.3%

Operating Margin

-239.8%

Net Margin

-734.2%

FCF Margin

-198.9%

P/S

18.9x

P/E

—

Earnings Reports

Q1 2026

May 15, 2026

PENDING

FY 2025

Apr 10, 2026

$24M+475.5%EPS -$2.11

Q4 2025

Apr 10, 2026

$17M+1295.4%EPS -$0.84

Q3 2025

Nov 19, 2025

$5MEPS -$0.15

Q2 2025

Aug 14, 2025

$1M+17.2%EPS -$1.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$0	$0	-$508.2K
Q1 22	$0	$0	-$858.3K
Q2 22	$0	$0	-$828.0K
Q3 22	$0	$0	-$2M
Q4 22	$0	$0	-$1M
Q1 23	$0	$0	-$4M
Q2 23	$0	$0	-$4M
Q3 23	$0	$0	-$4M
Q4 23	$433.0K	$433.0K	-$4M
Q1 24	$840.4K	$278.9K	-$6M
Q2 24	$1M	$421.0K	-$7M
Q4 24	$1M	$605.7K	-$8M
Q1 25	$1M	$326.8K	-$8M
Q2 25	$1M	$572.1K	-$12M
Q3 25	$5M	$423.2K	-$15M
Q4 25	$17M	$2M	-$22M

Valuation

Quarter	P/S	P/E
Q3 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	194.9x	—
Q1 24	149.3x	—
Q2 24	63.7x	—
Q4 24	80.8x	—
Q1 25	62.8x	—
Q2 25	113.2x	—
Q3 25	90.1x	—
Q4 25	21.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$287.9K	-$1M
Q2 22	-$1M	-$2M
Q3 22	-$694.3K	-$3M
Q4 22	-$862.0K	-$2M
Q1 23	-$1M	-$2M
Q2 23	-$1M	-$1M
Q3 23	-$653.3K	-$1M
Q4 23	-$2M	-$3M
Q1 24	-$3M	-$4M
Q2 24	-$5M	-$8M
Q4 24	-$4M	-$7M
Q1 25	-$3M	-$6M
Q2 25	-$8M	-$10M
Q3 25	-$9M	-$12M
Q4 25	-$18M	-$20M

Capital Expenditures

Quarter	CapEx
Q1 22	$898.9K
Q2 22	$833.7K
Q3 22	$2M
Q4 22	$902.5K
Q1 23	$362.1K
Q2 23	$146.6K
Q3 23	$681.5K
Q4 23	$1M
Q1 24	$1M
Q2 24	$3M
Q4 24	$3M
Q1 25	$2M
Q2 25	$2M
Q3 25	$3M
Q4 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	—	+187.1%
Q1 23	—	+334.0%
Q2 23	—	+425.1%
Q3 23	—	+102.0%
Q4 23	—	+205.4%
Q1 24	—	+78.7%
Q2 24	—	+95.0%
Q4 24	—	+124.0%
Q1 25	+154.4%	+103.2%
Q2 25	+42.6%	+97.8%
Q3 25	+378.3%	+134.2%
Q4 25	+1295.4%	+340.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$20.8K	—
Q2 22	$210.7K	—
Q3 22	$715.4K	—
Q4 22	$1M	—
Q1 23	$2M	—
Q2 23	$2M	—
Q3 23	$2M	—
Q4 23	$2M	497.3%
Q1 24	$2M	203.9%
Q2 24	$3M	246.3%
Q4 24	$2M	189.4%
Q1 25	$2M	171.5%
Q2 25	$4M	369.6%
Q3 25	$4M	91.7%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q3 21	—	—	$508.2K
Q1 22	$293.1K	$565.2K	—
Q2 22	$153.4K	$674.6K	—
Q3 22	$745.5K	$1M	—
Q4 22	$81.6K	$1M	—
Q1 23	$207.3K	$4M	—
Q2 23	$252.9K	$4M	—
Q3 23	$239.2K	$4M	—
Q4 23	$65.2K	$4M	—
Q1 24	$215.1K	$6M	—
Q2 24	$473.3K	$7M	—
Q4 24	$1M	$7M	—
Q1 25	$2M	$7M	—
Q2 25	$879.9K	$12M	—
Q3 25	$3M	$12M	—
Q4 25	$7M	$18M	—

Revenue Segments

Quarter	Product
Q1 25	$1M
Q2 25	$1M
Q4 25	$17M

Revenue by Geography

Quarter	Hong Kong	South Africa
Q3 25	$4M	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$4M	$0	$4M
Q2 22	$3M	$0	$3M
Q3 22	$431.6K	$0	$431.6K
Q4 22	$2M	$0	$2M
Q1 23	$5M	$0	$5M
Q2 23	$4M	$0	$4M
Q3 23	$2M	$0	$2M
Q4 23	$8M	$0	$8M
Q1 24	$24M	$0	$24M
Q2 24	$28M	$0	$28M
Q3 24	$52M	$0	$52M
Q4 24	$62M	$0	$62M
Q1 25	$56M	$0	$56M
Q2 25	$68M	$0	$68M
Q3 25	$114M	$0	$114M
Q4 25	$286M	$48M	$333M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	34M	—	—
Q1 22	31M	-8.7%	—
Q2 22	31M	0.0%	—
Q3 22	32M	+2.4%	—
Q4 22	36M	+11.8%	+4.5%
Q1 23	29M	-18.8%	-7.1%
Q2 23	30M	+2.2%	-5.0%
Q3 23	31M	+4.5%	-3.0%
Q4 23	47M	+52.2%	+32.1%
Q1 24	45M	-6.0%	+52.9%
Q2 24	49M	+10.3%	+64.9%
Q4 24	71M	+43.8%	+126.9%
Q1 25	69M	-1.7%	+46.5%
Q2 25	73M	+5.1%	+63.8%
Q3 25	89M	+21.3%	+80.2%
Q4 25	94M	+5.7%	+32.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$0	4
Q1 23	$0	4
Q2 23	$0	4
Q3 23	$0	4
Q4 23	$5.7K	76
Q1 24	$11.1K	76
Q2 24	$13.5K	76
Q4 24	$8.8K	136
Q1 25	$8.1K	136
Q2 25	$8.8K	136
Q3 25	$36.0K	136
Q4 25	$122.5K	136

Revenue / Employee