Quarterly ResultMay 7, 2026, 06:32 AM
Aspen Aerogels Q1 Revenue $37.9M, Net Loss $23.7M; Facility Restart in May
AI Summary
Aspen Aerogels reported Q1 2026 financial results, with total revenue of $37.9 million and a net loss of $23.7 million, a significant improvement from the prior year's $301.2 million net loss which included a large impairment charge. The company ended the quarter with a strong cash balance of $175.6 million, boosted by a $37.6 million commercial settlement from General Motors. Operations at its East Providence manufacturing facility are expected to begin a staged restart in May following an April 8 explosion, and the company provided a Q2 2026 outlook expecting increased revenue and improved profitability.
Key Highlights
- East Providence manufacturing facility expects staged restart in May after April 8 explosion.
- Q1 2026 total revenue was $37.9 million, down from $78.7 million in prior year.
- Q1 2026 net loss was $23.7 million, significantly improved from $301.2 million YoY.
- Adjusted EBITDA for Q1 2026 was $(12.7) million, compared to $4.9 million YoY.
- Ended Q1 with $175.6 million cash, up from $158.6 million at year-end 2025.
- Received $37.6 million cash from General Motors commercial settlement.
- Secured an additional subsea pipeline award for delivery in Q3 2026.
- Q2 2026 revenue outlook is $40M-$48M; net loss outlook is $14M-$20M.