Loading...
•
Mar 31, 2021
Aspen Aerogels Q1 2021 Earnings Report
Announced financial results for the first quarter of 2021 and discussed recent business developments.
Key Takeaways
Aspen Aerogels reported a slight decrease in revenue for Q1 2021, with $28.1 million compared to $28.4 million in Q1 2020. The company experienced a net loss of $6.3 million, which is higher than the $3.2 million loss in the same quarter last year. Despite COVID-19 impacts, strong LNG market demand partially offset declines. Investments in e-mobility initiatives contributed to decreased gross profit and Adjusted EBITDA.
Q1 revenue declined slightly to $28.1 million due to COVID-19 impacts, offset by strong LNG demand.
Net loss increased to $6.3 million due to investments in e-mobility initiatives.
The company is working with over twenty manufacturers of batteries, battery systems, and electric vehicles globally.
Aspen is progressing with plans for a second manufacturing facility to expand silica aerogel blanket capacity by the end of 2023.
Forward Guidance
Aspen updated its 2021 full year outlook, expecting revenue between $103.0 million and $111.0 million, a net loss between $28.3 million and $31.9 million, and Adjusted EBITDA between $(15.2) million and $(18.8) million.
Positive Outlook
- Total revenue is expected to range between $103.0 million and $111.0 million
- Total revenue is expected to range between $103.0 million and $111.0 million
Challenges Ahead
- Net loss is expected to range between $28.3 million and $31.9 million
- Net loss is expected to range between $28.3 million and $31.9 million
- Adjusted EBITDA is expected to range between $(15.2) million and $(18.8) million
- Adjusted EBITDA is expected to range between $(15.2) million and $(18.8) million
- Net loss per share is expected to range between $1.01 and $1.14
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...