Business
Aspen Aerogels, Inc. Reports First Quarter 2025 Financial Results and Recent Business Highlights
Aspen Aerogels, Inc. (NYSE: ASPN) ("Aspen" or the "Company"), a technology leader in sustainability and electrification solutions, today announced financial results for the first quarter of 2025, and discussed recent business developments.
About this update from Aspen Aerogels, Inc.
[{"type":"text","content":"Delivered revenues of $78.7 million and operating cash flow of $5.6 millionNew PyroThin award with leading American OEM for next-gen prismatic LFP vehicle platform","length":164,"tagName":"p","attribs":{}},{"type":"text","content":"NORTHBOROUGH, Mass., May 8, 2025 /PRNewswire/ -- Aspen Aerogels, Inc. (NYSE: ASPN) ("Aspen" or the "Company"), a technology leader in sustainability and electrification solutions, today announced financial results for the first quarter of 2025, and discussed recent business developments.","length":308,"tagName":"p"},{"type":"text","content":"Total revenue for the first quarter of 2025 was $78.7 million, compared to $94.5 million in the first quarter of 2024.","length":118,"tagName":"p"},{"type":"text","content":"Net loss was $301.2 million, which included a $286.6 million impairment charge in connection with the demobilization of the Company's previously planned second aerogel manufacturing plant in Statesboro, Georgia and $9.8 million of associated restructuring costs, compared to a net loss of $1.8 million in the first quarter of 2024. Adjusting net loss for the impairment and restructuring and demobilization costs would result in a net loss of $4.8 million. Net loss per share was $3.67, compared to a net loss per share of $0.02 in the first quarter of 2024. Adjusting net loss per share for the impairment and restructuring and demobilization costs would result in a net loss per share of $0.06.","length":700,"tagName":"p"},{"type":"text","content":"Adjusted EBITDA for the first quarter of 2025 was $4.9 million, compared to $12.9 million in the first quarter of 2024.","length":119,"tagName":"p"},{"type":"text","content":"A reconciliation of GAAP financial results to non-GAAP financial results are provided in the financial schedules that are part of this press release. An explanation of these non-GAAP financial measures are also included below under the heading "Non-GAAP Financial Measures."","length":284,"tagName":"p"},{"type":"text","content":"Recent Business Highlights & Quarterly Performance","length":54,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Company revenues of $78.7 million, a 17% decrease year-over-year (YoY)","length":70,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Thermal Barrier: $48.9 million ...