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Dec 31, 2024
Aspen Aerogels Q4 2024 Earnings Report
Aspen Aerogels, Inc. reported strong financial results for the fourth quarter and full fiscal year 2024, driven by significant revenue growth in both Thermal Barrier and Energy Industrial segments, improved profitability, and positive cash flow.
Key Takeaways
Aspen Aerogels, Inc. achieved record revenues of $123.1 million in Q4 2024, a 46% year-over-year increase, with net income reaching $11.4 million and Adjusted EBITDA at $22.7 million, demonstrating strong operational performance and profitability.
Record Company revenues of $123.1 million, up 46% year-over-year.
Net income of $11.4 million, an $11.9 million improvement year-over-year.
Adjusted EBITDA of $22.7 million, a $13.6 million or 149% improvement year-over-year.
Cash generated from operations of $35.7 million in the quarter drove $20.9 million of free cash flow.
Revenue by Segment
Forward Guidance
For Q1 2025, Aspen expects revenue to range between $75 million and $95 million, with a net loss between $15.0 million and breakeven, and Adjusted EBITDA between breakeven and $15 million.
Positive Outlook
- Q1 revenue expected to range between $75 million and $95 million.
- Q1 Adjusted EBITDA expected to range between breakeven and $15 million.
- Capital expenditures, excluding demobilization costs related to the Statesboro plant project, are expected to be less than $7 million.
- Company is fully funded by a strong balance sheet to play offense and evaluate growth opportunities.
- Actions taken to right-size fixed cost base and continue reducing CAPEX.
Challenges Ahead
- Q1 Net loss expected to range between $15.0 million and breakeven.
- Q1 Net loss per share expected to range between $0.18 and breakeven.
- Vehicle production will now be more directly driven by sales, implying potential volatility.
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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