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Mar 31, 2025
Aspen Aerogels Q1 2025 Earnings Report
Reported First Quarter 2025 Financial Results
Key Takeaways
Aspen Aerogels reported a significant net loss in Q1 2025, primarily due to a large impairment charge related to a planned manufacturing plant. Revenue decreased year-over-year, while adjusted EBITDA also saw a decline. The company highlighted a new PyroThin award and positive operating cash flow.
Total revenue for Q1 2025 was $78.7 million, a 17% decrease year-over-year.
Net loss was $301.2 million, heavily impacted by a $286.6 million impairment charge.
Adjusted EBITDA was $4.9 million, down from $12.9 million in Q1 2024.
Ended the quarter with $192.0 million in cash and equivalents and delivered $5.6 million in operating cash flow.
Revenue by Segment
Forward Guidance
Aspen Aerogels provided financial outlook for the second quarter of 2025, expecting revenue between $70 million and $80 million and Adjusted EBITDA between breakeven and $7 million.
Positive Outlook
- Expected Adjusted EBITDA range includes potential for positive EBITDA.
- Capital expenditures, excluding demobilization costs, expected to be less than $10 million.
- Focus on execution and performance across a range of demand outcomes.
- Strong balance sheet cited as a positive factor.
- Continuing efforts to reduce fixed cost base.
Challenges Ahead
- Expected net loss range between $11 million and $4 million.
- Outlook subject to risks including capacity expansion, supply chain disruptions, and cost inflation.
- Net loss per share expected between $0.13 and $0.05.
- Depreciation and amortization, stock-based compensation, and other expenses contribute to potential loss.
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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