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Jun 30, 2021
Aspen Aerogels Q2 2021 Earnings Report
Aspen Aerogels reported second quarter 2021 financial results and recent business developments.
Key Takeaways
Aspen Aerogels' total revenue for the second quarter was $31.7 million, a 29% increase compared to $24.6 million in the second quarter last year. The company's net loss was $6.7 million, compared to a net loss of $5.7 million in the second quarter of 2020.
Total revenue grew 29% to $31.7 million.
Gross profit grew 61% year-over-year to $4.6 million.
Won additional PyroThin scope with existing U.S. automotive customer.
Closed $75.0 million private placement with Koch Strategic Platforms.
Forward Guidance
Aspen updates its 2021 full year outlook as follows:
Positive Outlook
- Total revenue is expected to range between $110.0 million and $118.0 million
- Total revenue is expected to range between $110.0 million and $118.0 million
- Net loss is expected to range between $28.9 million and $31.7 million
- Net loss is expected to range between $28.9 million and $31.7 million
- Adjusted EBITDA is expected to range between $(14.7) million and $(17.5) million
Challenges Ahead
- Adjusted EBITDA is expected to range between $(14.7) million and $(17.5) million
- Net loss per share is expected to range between $0.94 and $1.04
- Net loss per share is expected to range between $0.94 and $1.04
- Aspen Aerogels may incur charges, realize gains or losses, incur financing costs or interest expense, or experience other events in 2021, including those related to the planned capacity expansion and strategic investment program, that could cause actual results to vary materially from this outlook.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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