ASPEN AEROGELS INCASPNEarnings & Financial Report
Aspen Aerogels Inc is a leading manufacturer of high-performance aerogel-based insulation and thermal management materials. It serves core sectors including renewable energy, oil and gas infrastructure, aerospace, commercial construction and industrial manufacturing, with key markets across North America, Europe and Asia-Pacific. Its products are prized for superior thermal resistance, fire safety and lightweight performance for harsh operating conditions.
Revenue
$117.8M
Gross Profit
$51.6M
Operating Profit
$20.0M
Net Profit
$16.8M
Gross Margin
43.8%
Operating Margin
17.0%
Net Margin
14.3%
YoY Growth
144.5%
EPS
$0.21
ASPEN AEROGELS INC Q2 FY2024 Financial Summary
ASPEN AEROGELS INC reported revenue of $117.8M (up 144.5% YoY) for Q2 FY2024, with a net profit of $16.8M (up 209.0% YoY) (14.3% margin). Cost of goods sold was $66.2M, operating expenses totaled $31.6M.
Key Financial Metrics
| Total Revenue | $117.8M |
|---|---|
| Net Profit | $16.8M |
| Gross Margin | 43.8% |
| Operating Margin | 17.0% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
ASPEN AEROGELS INC Q2 FY2024 revenue of $117.8M breaks down across 3 segments, led by Other at $52.3M (44.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Other | $52.3M | 44.4% |
| Thermal Barrier | $51.3M | 43.6% |
| Energy Industrial | $14.1M | 12.0% |
ASPEN AEROGELS INC Revenue by Segment — Quarterly Trend
ASPEN AEROGELS INC revenue by segment across the last 4 reported quarters, showing how each business line (such as Other and Thermal Barrier) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Other | $13.9M | $15.0M | $29.5M | $40.6M |
| Thermal Barrier | $12.9M | $44.4M | $39.2M | $20.9M |
| Energy Industrial | $14.5M | $13.5M | $9.3M | $17.3M |
ASPEN AEROGELS INC Annual Revenue by Year
ASPEN AEROGELS INC annual revenue history includes year-by-year totals (for example, 2025 revenue was $271.1M).
| Year | Annual Revenue |
|---|---|
| 2025 | $271.1M |
| 2024 | $452.7M |
| 2023 | $238.7M |
| 2022 | $180.4M |
ASPEN AEROGELS INC Quarterly Revenue & Net Profit History
ASPEN AEROGELS INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $41.3M | -66.4% | $-72.9M | -176.4% |
| Q3 FY2025 | $73.0M | -37.8% | $-6.3M | -8.7% |
| Q2 FY2025 | $78.0M | -33.7% | $-9.1M | -11.6% |
| Q1 FY2025 | $78.7M | -16.7% | $-301.2M | -382.7% |
| Q4 FY2024 | $123.1M | +46.2% | $11.4M | 9.2% |
| Q3 FY2024 | $117.3M | +93.1% | $-13.0M | -11.1% |
| Q2 FY2024 | $117.8M | +144.5% | $16.8M | 14.3% |
| Q1 FY2024 | $94.5M | +107.3% | $-1.8M | -1.9% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $94.5M | $117.8M | $117.3M | $123.1M | $78.7M | $78.0M | $73.0M | $41.3M |
| YoY Growth | 107.3% | 144.5% | 93.1% | 46.2% | -16.7% | -33.7% | -37.8% | -66.4% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $698.0M | $748.6M | $782.6M | $895.1M | $555.0M | $525.1M | $491.4M | $406.7M |
| Liabilities | $206.8M | $230.8M | $274.9M | $280.4M | $240.1M | $216.4M | $185.7M | $171.2M |
| Equity | $491.2M | $517.8M | $507.6M | $614.7M | $314.8M | $308.8M | $305.7M | $235.5M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-17.7M | $6.8M | $20.8M | $35.7M | $5.6M | $-3.9M | $15.0M | $16.1M |