| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 73.02 | 6.4% | 37.8% |
| Total Income | 73.02 | 6.4% | 37.8% |
| Expenditure | 76.37 | 8.2% | 23.6% |
| PBT | -5.74 | 30.3% | 54.8% |
| Net Profit | -6.33 | 30.1% | 51.2% |
| OPM | -4.58% | 2.02pp | 19.41pp |
| NPM | -8.68% | 2.93pp | 2.38pp |
| EPS | -0.08 | 27.3% | 52.9% |
Aspen Aerogels Reports Q3 2025 Revenue of $73.0 Million
04 May 2026 · 4 May, 7:49 am
Summary
Aspen Aerogels, Inc. announced its financial results for the third quarter of 2025. Total revenue was $73.0 million, a decrease from $117.3 million in the same quarter of the previous year. The net loss was $6.3 million, an improvement from the $13.0 million loss in Q3 2024. Adjusted EBITDA was $6.3 million, down from $25.4 million in the prior year. The company updated its full-year 2025 outlook to reflect lower near-term EV production in North America.
Key Highlights
- 1
Aspen Aerogels reported total revenue of $73.0 million for the third quarter of 2025, compared to $117.3 million in the third quarter of 2024.
- 2
The company's net loss was $6.3 million, which included $1.6 million of restructuring and impairment charges, compared to a net loss of $13.0 million in the third quarter of 2024.
- 3
Adjusted EBITDA for the third quarter of 2025 was $6.3 million, compared to $25.4 million in the third quarter of 2024.
- 4
Thermal Barrier revenue was $48.7 million, a 12% decrease quarter-over-quarter (QoQ).
- 5
Energy Industrial revenue was $24.3 million, a 7% increase QoQ.
- 6
The company delivered gross margins of 28.5%, a four-percentage point decrease QoQ.
- 7
Aspen Aerogels ended the quarter with cash and equivalents of $152.4 million.
Management Comments
Don Young
“The U.S. EV environment has created a challenging backdrop after a period of significant development. We expect to rebuild growth in our Thermal Barrier business after the market stabilizes, supported by the ramp-up of our European programs, including our newest award.” “We anticipate a strong 2026 for our Energy Industrial business as project activity normalizes. We also see near-term revenue opportunities from our diversification into adjacent markets. Our focus remains on driving growth through innovation and building a profitable, capital-efficient business.”
Grant Thoele
“As we reset our outlook to reflect lower near-term demand in the U.S. EV market, we remain focused on the elements within our control. Throughout 2025, we’ve taken decisive actions to reduce fixed costs and improve operating efficiency, fortifying the foundation of the business. In addition to strengthening our core markets, we are focused on driving growth through disciplined execution, thoughtful diversification, and developing strategic partnerships.”
Informational and educational content only. Not investment advice.