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Sep 30, 2025
ASP Isotopes Inc Q3 2025 Earnings Report
ASP Isotopes Inc reported a wider net loss in Q3 2025 due to higher SG&A and R&D costs, despite revenue growth driven by construction services.
Key Takeaways
ASP Isotopes grew revenue to $4.89 million in Q3 2025, driven by new contributions from its construction services segment. However, increased R&D and SG&A expenses led to a larger net loss compared to the prior year.
Revenue rose to $4.89 million, driven by $3.6 million from new construction services.
Net loss widened to $12.87 million primarily due to increased operating expenses.
Cash and cash equivalents more than doubled to $113.9 million since year-end 2024.
Segment loss from nuclear fuels surged due to fair value adjustments on convertible notes.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company expects initial product shipments of enriched isotopes (C-12, Si-28, C-14, Yb-176) in Q4 2025 and H1 2026. It also plans to spin off Quantum Leap Energy as a separate public company and advance construction of a uranium enrichment facility.
Positive Outlook
- First commercial shipments of C-12 expected in Q4 2025
- Si-28 and C-14 production expected to ramp in 2026
- Yb-176 production initiated at QE laser facility
- Planned QLE spin-off and public listing progressing
- $113.9 million cash provides funding for >12 months
Challenges Ahead
- High SG&A and R&D costs continue to drive significant losses
- Convertible note fair value change caused major non-cash expense
- Production of C-14 and Si-28 still pending regulatory and customer approval
- Skyline operations introduce new geographic and operational risks
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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