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Mar 31, 2024
Aspen Aerogels Q1 2024 Earnings Report
Aspen Aerogels reported first quarter 2024 financial results with revenue of $94.5 million, a gross profit margin of 37%, and Adjusted EBITDA of $12.9 million.
Key Takeaways
Aspen Aerogels reported a strong first quarter of 2024, with a 37% increase in revenue to $94.5 million compared to $45.6 million in Q1 2023. The company's Adjusted EBITDA was $12.9 million, a significant improvement from $(13.9) million in the same period last year. They are raising 2024 baseline Adjusted EBITDA outlook by 83% and expecting positive net income for 2024.
Q1 2024 revenue reached $94.5 million, compared to $45.6 million in Q1 2023.
Net loss improved to $1.8 million, compared to a net loss of $16.8 million in Q1 2023.
Adjusted EBITDA was $12.9 million, a significant increase from $(13.9) million in Q1 2023.
The company is raising its 2024 baseline Adjusted EBITDA outlook by 83% and expects positive net income for the year.
Revenue by Segment
Forward Guidance
Aspen updated its 2024 full year outlook, expecting revenue growth greater than 47% to over $380 million and raised its 2024 baseline Adjusted EBITDA outlook by 83%, to $55 million. They anticipate positive net income for the year.
Positive Outlook
- Revenue YoY Growth >47%
- Revenue > $380 million
- Depreciation and amortization of $30 million
- Stock-based compensation expense of $14 million
- Other (income) expense and income tax expense of $9 million
Challenges Ahead
- Weighted average shares outstanding of 75.8 million for the full year.
- additional charges
- realize gains or losses
- incur financing costs or interest expense
- experience other events in 2024, including those related to the planned capacity expansion, supply chain disruptions, or further cost inflation, that could cause actual results to vary materially from this outlook.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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