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Jun 30, 2024
Aspen Aerogels Q2 2024 Earnings Report
Reported record quarterly revenues with substantial year-over-year and quarter-over-quarter growth, alongside significant net income and adjusted EBITDA improvements.
Key Takeaways
Aspen Aerogels reported record quarterly revenues of $117.8 million, a 145% increase year-over-year, and a net income of $16.8 million, compared to a net loss in the same quarter last year. The company's adjusted EBITDA was $28.9 million, demonstrating significant operating leverage. Aspen has increased its 2024 revenue and profitability outlook for the second consecutive quarter.
Aspen Aerogels achieved record quarterly revenues of $117.8 million, marking a 145% increase year-over-year.
The company reported a net income of $16.8 million, a significant improvement from the net loss of $15.4 million in the second quarter of the previous year.
Adjusted EBITDA reached $28.9 million, showcasing the operating leverage of Aspen's business model.
Aspen Aerogels increased its 2024 revenue and profitability outlook for the second consecutive quarter, reflecting confidence in future performance.
Forward Guidance
Aspen Aerogels updated its 2024 full year outlook, expecting revenue growth between 59% and 63%. The company's outlook assumes depreciation and amortization of $30 million, stock-based compensation expense of $14 million, other (income) expense and income tax expense of $9 million, and diluted weighted average shares outstanding of 79.3 million for the full year.
Positive Outlook
- Revenue YoY Growth >380 59%
- Revenue YoY Growth >390 63%
- Depreciation and amortization of $30 million
- Stock-based compensation expense of $14 million
- Diluted weighted average shares outstanding of 79.3 million for the full year
Challenges Ahead
- 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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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