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Dec 31, 2025
Aspen Aerogels Q4 2025 Earnings Report
Aspen Aerogels reported sharply lower revenue and a significant net loss in Q4 2025 due to reduced EV demand and impairment-related charges.
Key Takeaways
Revenue declined significantly year-over-year, driven by weakness in the Thermal Barrier segment. The company posted a substantial net loss due to restructuring, impairment, and disposal charges, while Adjusted EBITDA turned negative.
Q4 revenue fell to 41339000 from 123088000 year-over-year.
Thermal Barrier revenue declined significantly due to lower EV demand.
Net loss was 72913000 compared to net income of 11362000 last year.
Adjusted EBITDA was negative at 17989000 loss for the quarter.
Revenue by Segment
Forward Guidance
For Q1 2026, Aspen expects continued softness with revenue between 35000000 and 40000000 and a net loss between 20000000 and 23000000, alongside negative Adjusted EBITDA.
Positive Outlook
- Expected GM settlement payment of approximately 37600000 in Q1 2026.
- Disciplined cash management increased year-end cash balance to 158570000.
- Strategic review initiated to optimize capital structure.
- North Sea subsea pipeline project awarded.
- Cost structure reduced by more than 75000000 in 2025.
Challenges Ahead
- Q1 2026 revenue guidance below prior-year levels.
- Projected net loss between 20000000 and 23000000 for Q1 2026.
- Adjusted EBITDA expected between -13000000 and -10000000.
- Continued softness in thermal barrier volumes.
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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