Quarterly ResultMay 8, 2026, 04:22 PM
Aspen Aerogels Q1 Net Loss Narrows to $23.7M; Revenue Down 52%
AI Summary
Aspen Aerogels reported a net loss of $23.7 million for the first quarter of 2026, a significant improvement from the $301.2 million net loss in the prior year, which included a large impairment charge. However, total revenue decreased by 52% to $37.9 million, with both Thermal Barrier and Energy Industrial segments experiencing declines. The company generated $34.1 million in cash from operations and maintained a strong cash position of $173.9 million, while also settling a $37.6 million claim with a Thermal Barrier customer.
Key Highlights
- Net loss significantly narrowed to $23.7 million from $301.2 million year-over-year.
- Revenue decreased by 52% to $37.9 million from $78.7 million in Q1 2025.
- Gross profit fell by 81% to $4.3 million from $22.8 million year-over-year.
- Generated $34.1 million in cash from operations, up from $5.6 million in Q1 2025.
- Unrestricted cash and cash equivalents stood at $173.9 million as of March 31, 2026.
- Settled a claim with a Thermal Barrier customer for $37.6 million, to be recognized over two years.
- Thermal barrier revenue decreased to $16.3 million from $48.9 million year-over-year.
- Energy industrial revenue decreased to $21.6 million from $29.8 million year-over-year.
Price Impact
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