ASPEN AEROGELS, INC. financials
Source: EDGAR filings · Built 2026-06-02T02:22:33Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -4.58M | -40.71M | -218.07M | -272.37M | -32.41M | -13.34M |
| EBITDA | -333.07M | 77.06M | -33.88M | -70.02M | -31.16M | -11.37M |
| Working Capital | 180.03M | 299.34M | 188.24M | 290.74M | 75.59M | 33.20M |
| Net Debt | -62.01M | -79.74M | -951.00K | -161.93M | -61.33M | -8.15M |
| Gross Margin | 16.97% | 40.40% | 23.84% | 2.76% | 8.17% | 14.55% |
| Operating Margin | -139.51% | 12.05% | -20.61% | -43.94% | -33.38% | -21.51% |
| Net Margin | -143.69% | 2.95% | -19.19% | -45.87% | -30.50% | -21.75% |
| Return on Equity (ROE) | -165.40% | 2.18% | -9.39% | -18.49% | -28.89% | -32.14% |
| Return on Assets (ROA) | -95.79% | 1.49% | -6.52% | -12.86% | -20.27% | -22.39% |
| Current Ratio | 3.90× | 3.72× | 3.41× | 4.68× | 3.07× | 3.38× |
| Debt-to-Equity | 0.40× | 0.23× | 0.28× | 0.27× | 0.12× | 0.12× |
| Effective Tax Rate | -0.62% | 11.36% | 0.00% | 0.00% | — | — |
| Cash Conversion Ratio | -0.08× | 3.41× | 0.93× | 1.14× | 0.50× | 0.46× |
| Accruals Ratio | -1.04× | -0.04× | -0.00× | 0.02× | -0.10× | -0.12× |
| SBC % of Revenue | 3.18% | 2.84% | 4.59% | 5.20% | 4.26% | 4.99% |
| CapEx Coverage | 0.88× | 0.53× | -0.24× | -0.53× | -1.35× | -2.91× |
| Free Cash Flow Per Share | $-0.06 | $-0.51 | $-3.14 | $-6.92 | $-1.06 | $-0.51 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | 69.88× | — | — | — | — |
| EV / EBITDA | — | 11.61× | — | — | — | — |
| P/S | 0.86× | 2.15× | 5.06× | 4.58× | 13.60× | 4.63× |
| P/B | 0.99× | 1.59× | 2.47× | 1.84× | 12.88× | 6.84× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 271.10M | 452.70M | 238.72M | 180.36M | 121.62M | 100.27M |
| Cost of Goods and Services Sold | 225.10M | 269.80M | 181.80M | 175.39M | 111.69M | 85.68M |
| Gross Profit | 46.00M | 182.90M | 56.92M | 4.98M | 9.94M | 14.59M |
| Research and Development Expense | 13.42M | 18.05M | 16.36M | 16.93M | 11.44M | 8.73M |
| Operating Expenses | 424.23M | 128.36M | 106.12M | 84.22M | 50.54M | 36.16M |
| Operating Income (Loss) | -378.23M | 54.53M | -49.20M | -79.25M | -40.60M | -21.57M |
| Income Tax Expense (Benefit) | 2.39M | 1.71M | 0 | 0 | — | — |
| Net Income (Loss) Attributable to Parent | -389.55M | 13.38M | -45.81M | -82.74M | -37.09M | -21.81M |
| Earnings Per Share, Basic | $-4.73 | $0.17 | $-0.66 | $-2.10 | $-1.22 | $-0.83 |
| Weighted Average Number of Shares Outstanding, Basic | 82.33M | 77.54M | 69.44M | 39.36M | 30.43M | 26.38M |
| Earnings Per Share, Diluted | $-4.73 | $0.17 | $-0.66 | $-2.10 | $-1.22 | $-0.83 |
| Weighted Average Number of Shares Outstanding, Diluted | 82.33M | 80.31M | 69.44M | 39.36M | 30.43M | 26.38M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 156.86M | 220.88M | 139.72M | 281.33M | 76.56M | 16.50M |
| Assets, Current | 242.05M | 409.45M | 266.33M | 369.69M | 112.15M | 47.12M |
| Assets | 406.68M | 895.14M | 703.05M | 643.42M | 182.95M | 97.42M |
| Long-term Debt | 65.45M | 94.96M | — | — | — | 3.70M |
| Liabilities, Current | 62.02M | 110.11M | 78.09M | 78.94M | 36.55M | 13.93M |
| Long-term Debt, Excluding Current Maturities | — | — | — | — | — | 2.06M |
| Liabilities | 171.16M | 280.44M | 214.99M | 195.98M | 54.55M | 29.57M |
| Stockholders' Equity Attributable to Parent | 235.52M | 614.71M | 488.06M | 447.44M | 128.41M | 67.85M |
| Common Stock, Shares, Outstanding | 82.71M | 82.04M | 76.50M | 69.99M | 33.22M | 27.82M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 32.87M | 45.55M | -42.61M | -94.40M | -18.63M | -9.92M |
| Payments to Acquire Property, Plant, and Equipment | 37.45M | 86.26M | 175.46M | 177.97M | 13.78M | 3.42M |
| Net Cash Provided by (Used in) Investing Activities | -37.45M | -86.26M | -175.46M | -177.97M | -13.78M | -3.42M |
| Net Cash Provided by (Used in) Financing Activities | -58.13M | 122.02M | 75.48M | 478.37M | 92.47M | 26.20M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 32.28M | 15.07M | -19.65M | -25.08M | -7.37M | 20.93M |
| EBITDA | -15.45M | -42.21M | — | — | -293.55M | 20.15M |
| Working Capital | 166.17M | 180.03M | 208.18M | 232.42M | 262.45M | 299.34M |
| Net Debt | -84.69M | -62.01M | -25.22M | -34.80M | -52.39M | -79.74M |
| Gross Margin | 11.29% | -55.47% | 28.49% | 32.45% | 28.98% | 38.29% |
| Operating Margin | -54.99% | -170.26% | -4.59% | -6.61% | -380.25% | 11.95% |
| Net Margin | -62.54% | -176.38% | -8.67% | -11.61% | -382.67% | 9.23% |
| Return on Equity (ROE) | -11.10% | -30.96% | -2.07% | -2.93% | -95.69% | 1.85% |
| Return on Assets (ROA) | -5.77% | -17.93% | -1.29% | -1.72% | -54.28% | 1.27% |
| Current Ratio | 2.89× | 3.90× | 3.94× | 3.98× | 4.22× | 3.72× |
| Debt-to-Equity | 0.42× | 0.40× | 0.41× | 0.43× | 0.44× | 0.23× |
| Effective Tax Rate | 1.06% | 0.13% | -10.35% | -9.97% | -0.36% | -1.56% |
| Cash Conversion Ratio | -1.44× | -0.22× | -2.64× | -0.19× | -0.02× | 3.14× |
| Accruals Ratio | -0.14× | -0.22× | -0.05× | -0.02× | -0.55× | -0.03× |
| SBC % of Revenue | 4.93% | 4.06% | 9.52% | 6.11% | 2.48% | 2.07% |
| CapEx Coverage | 18.29× | 15.14× | 0.46× | 0.06× | 0.43× | 2.42× |
| Free Cash Flow Per Share | $0.39 | $0.18 | $-0.24 | $-0.31 | $-0.09 | $0.26 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | — | — | — | — | 74.25× |
| P/S | 1.23× | 0.86× | 1.63× | 1.23× | 1.20× | 2.15× |
| P/B | 1.33× | 0.99× | 1.88× | 1.58× | 1.67× | 1.59× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 37.88M | 41.34M | 73.02M | 78.02M | 78.72M | 123.09M |
| Cost of Goods and Services Sold | 33.61M | 64.27M | 52.22M | 52.71M | 55.91M | 75.95M |
| Gross Profit | 4.28M | -22.93M | 20.80M | 25.32M | 22.81M | 47.13M |
| Research and Development Expense | 2.72M | 2.79M | 2.49M | 3.79M | 4.33M | 4.41M |
| Operating Expenses | 25.11M | 47.45M | 24.15M | 30.47M | 322.15M | 32.42M |
| Operating Income (Loss) | -20.83M | -70.38M | -3.35M | -5.16M | -299.34M | 14.71M |
| Income Tax Expense (Benefit) | -253.00K | -97.00K | 594.00K | 821.00K | 1.08M | -175.00K |
| Net Income (Loss) Attributable to Parent | -23.69M | -72.91M | -6.33M | -9.06M | -301.25M | 11.36M |
| Earnings Per Share, Basic | $-0.29 | $-0.88 | $-0.08 | $-0.11 | $-3.67 | $0.14 |
| Weighted Average Number of Shares Outstanding, Basic | 82.74M | 82.33M | 82.40M | 82.18M | 82.07M | 77.54M |
| Earnings Per Share, Diluted | $-0.29 | $-0.88 | $-0.08 | $-0.11 | $-3.67 | $0.14 |
| Weighted Average Number of Shares Outstanding, Diluted | 82.74M | 82.33M | 82.40M | 82.18M | 82.07M | 80.31M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 173.87M | 156.86M | 150.72M | 167.62M | 192.04M | 220.88M |
| Assets, Current | 253.97M | 242.05M | 278.92M | 310.47M | 343.89M | 409.45M |
| Assets | 410.48M | 406.68M | 491.39M | 525.13M | 554.98M | 895.14M |
| Long-term Debt | 61.24M | 65.45M | 70.09M | 77.27M | 95.42M | 94.96M |
| Liabilities, Current | 87.80M | 62.02M | 70.74M | 78.05M | 81.43M | 110.11M |
| Liabilities | 196.98M | 171.16M | 185.66M | 216.36M | 240.14M | 280.44M |
| Stockholders' Equity Attributable to Parent | 213.50M | 235.52M | 305.73M | 308.77M | 314.83M | 614.71M |
| Common Stock, Shares, Outstanding | 82.83M | 82.71M | 82.56M | 82.25M | 82.17M | 82.04M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 34.15M | 16.14M | 16.74M | 1.70M | 5.63M | 35.68M |
| Payments to Acquire Property, Plant, and Equipment | 1.37M | 2.46M | 34.98M | 25.88M | 13.00M | 14.75M |
| Net Cash Provided by (Used in) Investing Activities | -1.37M | -2.46M | -34.98M | -25.88M | -13.00M | -14.75M |
| Net Cash Provided by (Used in) Financing Activities | -15.77M | -7.53M | -50.60M | -29.06M | -21.48M | 86.46M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (ASPN CIK 0001145986),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.