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Sep 30, 2021
Aspen Aerogels Q3 2021 Earnings Report
Announced third quarter 2021 financial results with revenue growth driven by increased market adoption of high-performance thermal solutions.
Key Takeaways
Aspen Aerogels reported a 26% increase in total revenue to $30.4 million for the third quarter of 2021, driven by a post-COVID recovery in the maintenance-related business. However, the company experienced a net loss of $7.8 million, which was attributed to planned investments in personnel, infrastructure, and related activities to support their PyroThin thermal barrier and carbon aerogel battery materials businesses.
Total revenue grew 26% to $30.4 million.
Gross profit grew 61% to $3.1 million.
Exceeded $1.0 million of PyroThinTM thermal barrier revenue year-to-date.
Increased 2021 full year revenue outlook for third consecutive quarter.
Forward Guidance
Aspen updates its 2021 full year outlook as follows: Total revenue is expected to range between $122.0 million and $128.0 million. Net loss is expected to range between $29.0 million and $31.0 million. Adjusted EBITDA is expected to range between $(18.5) million and $(20.5) million. Net loss per share is expected to range between $0.96 and $1.02
Positive Outlook
- Total revenue is expected to range between $122.0 million and $128.0 million
- Net loss is expected to range between $29.0 million and $31.0 million
- Adjusted EBITDA is expected to range between $(18.5) million and $(20.5) million
- Net loss per share is expected to range between $0.96 and $1.02
Historical Earnings Impact
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