Aspen Aerogels, Inc. · NYSE:ASPN
Aspen Aerogels — Q2 2026 Earnings Presentation
12 slides from Aspen Aerogels's earnings presentation, Aug 6, 2026
Slide 1: Q2 2026 Financial Results Call
August 6, 2026 ASPEN AEROGELS Q 2 2 0 2 6 F I N A N C I A L R E S U LT S C A L L
Slide 2: Disclaimer on Forward Looking Statements
Disclaimer on Forward Looking Statements This presentation and any related discussion contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to be materially different from
Slide 3: Q2 2026 Developments and Highlights
Q2 2026 Developments and Highlights Accelerating commercial traction while restoring operations and positioning for second-half growth Q2 2026 Highlights1: Well positioned across multiple growth markets • Delivered total revenue of $49.8 million, up 32% QoQ • Increased Thermal Barrier revenue 81% Qo
Slide 4: A record global LNG buildout, led by the US
A record global LNG buildout, led by the US Global liquefaction capacity projected to grow 7% annually through 2030, led by 13% annual growth in the U.S. Strong global capacity build through 2030… …with US driving nearly half of the growth Global LNG Capacity, by year1 US LNG Capacity, by year1 Bcm
Slide 5: Improving EV Demand Backdrop
Improving EV Demand Backdrop Sales momentum and depleting inventory in North America, alongside record BEV penetration in Europe GM EV sales have continued to increase, while inventory has been EU BEV penetration reached an all-time significantly depleted high in Q2 2026 European Union BEV1 Penetrat
Slide 6: Q2 2026 Financial Highlights
Q2 2026 Financial Highlights Sequential improvement and capital discipline support a strengthening earnings trajectory $ in millions, except per share figures Q1 20261 Q2 20261 Commentary • Total revenue increased 32% QoQ Revenues $37.9 $49.8 • Q2 Thermal Barrier revenue increased 81% QoQ; Energy In
Slide 7: Q3 2026 Outlook and European Growth Runway
Q3 2026 Outlook and European Growth Runway Financial discipline supports improving near-term performance and substantial growth potential from EU OEMs $ in millions, except per share figures Q3 2026 Outlook Blue-chip OEM program awards support a substantial European revenue opportunity Revenues $65
Slide 8: Building Durable, Scalable Growth
Building Durable, Scalable Growth Disciplined three-pillar strategy to drive operating leverage, strategic flexibility, and long-term value Drive Structural Operating Strengthen & Optimize Our Execute Our Growth Leverage Capital Structure Strategy • Return to positive Adjusted EBITDA • $153.4M cash
Slide 9: Appendix
Appendix 8 Aspen Aerogels | Q2 2026 Financial Results Call | August 6, 2026
Slide 10: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Adjusted EBITDA Reconciliation 2026 Q3-26 Outlook FY-25 Outlook ($ in millions) Q1 Q2 Low High Net Income (Loss) (23.7) (23.3) (9.0) (6.0) Depreciation and Amortization 5.4 4.3 5.0 5.0 Stock-based Compensation 2.3 3.7 3.0 3.0 Other (Income) Expense & Income Tax Expen
Slide 11: Demand Overview - GM IHS EV Forecast
Demand Overview - GM IHS EV Forecast Near-term production recovering, supported by a diversifying platform lineup and a return to growth by 2028 Production moderation through Broader EV lineup supports long- Ultium base stabilizing in 2027, 1H26 with recovery in 2H26 term platform diversity growing
Slide 12: Aspen Aerogels
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