ASPN (Aspen Aerogels, Inc.) Stock Financials & Earnings | Market Cap Arena

ASPN (Aspen Aerogels, Inc.) Stock Financials & Earnings | Market Cap Arena

ASPNAspen Aerogels, Inc.

Mkt Cap$270M

Industrials·Construction·🇺🇸 United States·NYSE

Revenue (TTM)$271M

Net Income (TTM)-$390M

EPS (TTM)-$4.74

Free Cash Flow (TTM)-$18M

Gross Margin17.0%

Op. Margin-19.0%

Net Margin-143.7%

FCF Margin-6.7%

P/S Ratio (TTM)1.0x

P/E Ratio (TTM)—

YoY Rev Growth-40.1%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$46M	$5M	-$19M
Q2 23	$48M	$8M	-$17M
Q3 23	$61M	$14M	-$15M
Q4 23	$84M	$30M	$1M
Q1 24	$95M	$35M	$2M
Q2 24	$118M	$52M	$20M
Q3 24	$117M	$49M	$17M
Q4 24	$123M	$47M	$15M
Q1 25	$79M	$23M	-$299M
Q2 25	$78M	$25M	-$5M
Q3 25	$73M	$21M	-$3M
Q4 25	$41M	-$23M	$256M

Valuation

Quarter	P/S	P/E
Q1 23	1.4x	—
Q2 23	1.4x	—
Q3 23	1.3x	—
Q4 23	1.1x	—
Q1 24	0.9x	—
Q2 24	0.8x	194.3x
Q3 24	0.7x	180.9x
Q4 24	0.6x	20.2x
Q1 25	0.6x	—
Q2 25	0.7x	—
Q3 25	0.8x	—
Q4 25	1.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$25M	-$74M
Q2 23	-$8M	-$74M
Q3 23	-$8M	-$40M
Q4 23	-$3M	-$31M
Q1 24	-$18M	-$44M
Q2 24	$7M	-$18M
Q3 24	$21M	-$50K
Q4 24	$36M	$21M
Q1 25	$6M	-$7M
Q2 25	-$4M	-$17M
Q3 25	$15M	$6M
Q4 25	$0	$0

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$49M
Q2 23	$66M
Q3 23	$32M
Q4 23	$28M
Q1 24	$26M
Q2 24	$25M
Q3 24	$21M
Q4 24	$15M
Q1 25	$13M
Q2 25	$13M
Q3 25	$9M
Q4 25	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+18.7%	+13.1%
Q2 23	+5.5%	-4.5%
Q3 23	+65.5%	+16.0%
Q4 23	+41.3%	+19.6%
Q1 24	+107.3%	+42.7%
Q2 24	+144.5%	+50.0%
Q3 24	+93.1%	+32.6%
Q4 24	+46.2%	+30.8%
Q1 25	-16.7%	+310.6%
Q2 25	-33.7%	-14.9%
Q3 25	-37.8%	-23.6%
Q4 25	-66.4%	-298.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$3M	5.6%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$5M	5.0%
Q2 24	$3M	2.5%
Q3 24	$3M	2.2%
Q4 24	$3M	2.1%
Q1 25	$2M	2.5%
Q2 25	$3M	4.1%
Q3 25	$3M	3.6%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$4M	$12M	$8M
Q2 23	$4M	$13M	$8M
Q3 23	$4M	$16M	$8M
Q4 23	$4M	$15M	$9M
Q1 24	$4M	$17M	$8M
Q2 24	$5M	$18M	$10M
Q3 24	$5M	$18M	$9M
Q4 24	$4M	$19M	$9M
Q1 25	$4M	$13M	$8M
Q2 25	$4M	$14M	$7M
Q3 25	$2M	$14M	$7M
Q4 25	$3M	$15M	$6M

Revenue Segments

Quarter	Energy Industrial	Thermal Barrier
Q2 23	$36M	$13M
Q3 23	$28M	$33M
Q1 24	$29M	$65M
Q2 24	$37M	$81M
Q3 24	$27M	$91M
Q1 25	$30M	$49M
Q2 25	$23M	$55M
Q3 25	$24M	$49M

Revenue by Geography

Quarter	Asia	Canada	Europe	Latin America	United States
Q1 23	$12M	$324K	$5M	$2M	$26M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$208M	$0	$208M
Q2 23	$134M	$0	$134M
Q3 23	$95M	$0	$95M
Q4 23	$140M	$0	$140M
Q1 24	$101M	$0	$101M
Q2 24	$91M	$0	$91M
Q3 24	$113M	$0	$113M
Q4 24	$221M	$0	$221M
Q1 25	$192M	$0	$192M
Q2 25	$168M	$0	$168M
Q3 25	$151M	$0	$151M
Q4 25	$157M	$0	$157M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	69M	+40.6%
Q2 23	69M	+0.1%
Q3 23	69M	+0.1%
Q4 23	70M	+1.0%
Q1 24	76M	+8.2%
Q2 24	79M	+4.2%
Q3 24	76M	-3.4%
Q4 24	83M	+8.8%
Q1 25	82M	-1.1%
Q2 25	82M	+0.1%
Q3 25	82M	+0.3%
Q4 25	83M	+0.3%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$420K	244
FY 15	$447K	274
FY 16	$419K	281
FY 17	$424K	263
FY 18	$354K	295
FY 19	$460K	303
FY 20	$346K	290
FY 21	$291K	418
FY 22	$338K	533
FY 23	$436K	548
FY 24	$817K	554
FY 25	$489K	554