ASTI

MKT CAP:$17M

Ascent Solar Technologies, Inc. Common Stock

Market Cap

$17M

Energy·Solar·🇺🇸 United States·NASDAQ

Energy·Solar·🇺🇸·NASDAQ

Stock Price

$5.34+$1.28 (+31.53%)

Apr 23, 2026

Company Details

Ascent Solar Technologies, Inc. designs, manufactures, and sells copper-indium-gallium-diselenide photovoltaic products for aerospace, defense, emergency management, and consumer/OEM applications. It offers outdoor solar chargers. The compa...

CEO

Paul Warley Jr.

IPO Date

Aug 24, 2022

Website

www.ascentsolar.com

Key Metrics TTM

Revenue

$76.8K

+83.3% YoY

Net Income

-$8M

EPS (Diluted)

-$3.36

Free Cash Flow

-$7M

Revenue / Share

$0.03

Gross Margin

-973.2%

Operating Margin

-10256.7%

Net Margin

-10202.5%

FCF Margin

-9066.2%

P/S

220.0x

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 20, 2026

$76.8K+83.3%EPS -$3.09

Q4 2025

Mar 20, 2026

$15.6KEPS -$0.44

Q3 2025

Nov 10, 2025

$28.5K+233.9%EPS -$0.62

Q2 2025

Aug 12, 2025

$17.0K-38.9%EPS -$1.17

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$566.2K	$33.3K	-$2M
Q2 22	$637.6K	$60.6K	-$2M
Q3 22	$6.3K	-$403.5K	-$8M
Q4 22	$12.7K	-$479.1K	-$5M
Q1 23	$124.2K	-$337.6K	-$5M
Q2 23	$101.3K	-$565.0K	-$3M
Q3 23	$230.0K	-$462.8K	-$2M
Q4 23	$2.8K	-$68.7K	-$5M
Q1 24	$5.6K	-$3.8K	-$2M
Q2 24	$27.7K	-$33.8K	-$2M
Q3 24	$8.6K	-$68.2K	-$2M
Q4 24	$0	-$584.9K	-$1M
Q1 25	$15.6K	-$8.5K	-$2M
Q2 25	$17.0K	-$11.6K	-$2M
Q3 25	$28.5K	-$60.4K	-$2M
Q4 25	$15.6K	-$666.6K	-$2M

Valuation

Quarter	P/S	P/E
Q1 22	165.1x	—
Q2 22	103.1x	—
Q3 22	79.5x	—
Q4 22	26.4x	—
Q1 23	12.4x	—
Q2 23	35.7x	—
Q3 23	10.8x	—
Q4 23	37.9x	—
Q1 24	42.2x	—
Q2 24	48.2x	—
Q3 24	118.4x	—
Q4 24	210.0x	—
Q1 25	63.7x	—
Q2 25	159.4x	—
Q3 25	85.3x	—
Q4 25	138.8x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$3M	-$3M
Q2 22	-$3M	-$3M
Q3 22	-$3M	-$3M
Q4 22	-$3M	-$3M
Q1 23	-$5M	-$5M
Q2 23	-$2M	-$5M
Q3 23	-$751.6K	-$762.7K
Q4 23	-$2M	-$6M
Q1 24	-$1M	-$1M
Q2 24	-$4M	-$4M
Q3 24	-$2M	-$2M
Q4 24	-$2M	-$2M
Q1 25	-$2M	-$2M
Q2 25	-$2M	-$2M
Q3 25	-$2M	-$2M
Q4 25	-$2M	-$2M

Capital Expenditures

Quarter	CapEx
Q1 22	$308
Q2 22	$6.9K
Q3 22	$28.1K
Q4 22	$173.9K
Q1 23	$5.9K
Q2 23	$4M
Q3 23	$11.2K
Q4 23	$4M
Q1 24	$0
Q2 24	$4
Q3 24	$416
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$29.5K
Q4 25	$2.5K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+242.8%	+101.9%
Q2 22	+67.6%	+36.6%
Q3 22	-45.9%	+186.5%
Q4 22	-74.9%	+53.3%
Q1 23	-78.1%	+85.4%
Q2 23	-84.1%	+11.4%
Q3 23	+3524.7%	-65.9%
Q4 23	-78.0%	+3.4%
Q1 24	-95.5%	-51.8%
Q2 24	-72.6%	-26.7%
Q3 24	-96.3%	-13.0%
Q4 24	-100.0%	-71.6%
Q1 25	+179.0%	-29.0%
Q2 25	-38.9%	-11.6%
Q3 25	+233.9%	-12.0%
Q4 25	—	+44.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$2M	13289.5%
Q1 23	$1M	1130.6%
Q2 23	$560.9K	553.7%
Q3 23	$139.1K	60.5%
Q4 23	$139.1K	5002.4%
Q1 24	$259.2K	4629.2%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$210.5K	—
Q1 25	$211.3K	1352.2%
Q2 25	$404.2K	2383.2%
Q3 25	$0	0.0%
Q4 25	$258.8K	1654.8%

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$1M	$821.3K
Q2 22	$1M	$871.9K
Q3 22	$2M	$6M
Q4 22	$2M	$3M
Q1 23	$2M	$3M
Q2 23	$822.3K	$2M
Q3 23	$344.9K	$2M
Q4 23	$389.3K	$1M
Q1 24	$607.2K	$1M
Q2 24	$506.0K	$2M
Q3 24	$603.5K	$2M
Q4 24	$584.2K	—
Q1 25	$558.7K	$1M
Q2 25	$622.9K	$1M
Q3 25	$620.6K	—
Q4 25	$641.0K	$1M

Revenue Segments

Quarter	Milestone And Engineering Arrangement	Product
Q1 22	$512.0K	$54.2K
Q2 22	—	$627.6K
Q3 22	—	$6.3K
Q3 23	$20.5K	$209.5K
Q4 23	—	$2.8K
Q1 24	—	$5.6K
Q2 24	—	$27.7K
Q3 24	—	$8.6K
Q4 24	—	$27.7K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$3M	$0	$3M
Q2 22	$429.3K	$0	$429.3K
Q3 22	$3M	$0	$3M
Q4 22	$11M	$0	$11M
Q1 23	$6M	$0	$6M
Q2 23	$905.6K	$0	$905.6K
Q3 23	$2M	$0	$2M
Q4 23	$1M	$0	$1M
Q1 24	$187.5K	$0	$187.5K
Q2 24	$6M	$0	$6M
Q3 24	$4M	$0	$4M
Q4 24	$3M	$0	$3M
Q1 25	$2M	$0	$2M
Q2 25	$3M	$0	$3M
Q3 25	$2M	$0	$2M
Q4 25	$3M	$0	$3M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	1K	-94.6%	-33.4%
Q2 22	2K	+41.2%	-91.7%
Q3 22	2K	+8.4%	+745.4%
Q4 22	2K	+2.6%	-91.6%
Q1 23	2K	+4.6%	+64.2%
Q2 23	2K	+31.8%	+53.3%
Q3 23	473K	+20086.0%	+28455.2%
Q4 23	36K	-92.4%	+2008.1%
Q1 24	48K	+32.8%	+2576.1%
Q2 24	51M	+107076.7%	+2175485.9%
Q3 24	1M	-97.6%	+160.4%
Q4 24	1M	+18.1%	+3959.6%
Q1 25	1M	+2.2%	+3025.8%
Q2 25	2M	+21.2%	-96.5%
Q3 25	3M	+75.5%	+156.7%
Q4 25	3M	-19.2%	+75.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$11.1K	51
Q2 22	$12.5K	51
Q3 22	$124	51
Q4 22	$211	60
Q1 23	$2.1K	60
Q2 23	$1.7K	60
Q3 23	$3.8K	60
Q4 23	$174	16
Q1 24	$350	16
Q2 24	$1.7K	16
Q3 24	$534	16
Q4 24	$0	16
Q1 25	$977	16
Q2 25	$1.1K	16
Q3 25	$1.8K	16
Q4 25	$1.1K	14

Revenue / Employee