Aspen Aerogels, Inc. reported a net loss of $29.6 million for the third quarter of 2022, compared to a net loss of $7.8 million in the third quarter of 2021. Total revenue for the third quarter of 2022 was $36.7 million, compared to $30.4 million in the third quarter last year. The company saw record PyroThin® thermal barrier revenue in Q3, although it was less than expected.
Total revenue grew 21% year-over-year
Generated $12.0 million of PyroThin® thermal barrier revenue
Energy Industrial revenues of $24.8 million
Ended third quarter with cash of $102.4 million
Aspen updates its 2022 full year outlook as follows:
Analyze how earnings announcements historically affect stock price performance