| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 37.88 | 51.9% |
| Total Income | 37.88 | 51.9% |
| Expenditure | 58.72 | 84.5% |
| PBT | -23.94 | 92.0% |
| Net Profit | -23.69 | 92.1% |
| OPM | -54.99% | |
| NPM | -62.54% | |
| EPS | -0.29 | 92.1% |
Aspen Aerogels Reports Q1 2026 Revenue $37.9M
07 May 2026 · 7 May, 4:02 pm
Summary
Aspen Aerogels, Inc. announced its financial results for the first quarter of 2026. Total revenue was $37.9 million, compared to $78.7 million in the prior year period. The company received $37.6 million from General Motors related to a commercial settlement, of which $3.5 million was recognized as revenue. Net loss was $23.7 million, compared to a net loss of $301.2 million in the prior year period. The company expects Q2 2026 revenue to range between $40 million and $48 million.
Key Highlights
- 1
Aspen Aerogels reported total revenue of $37.9 million for the first quarter of 2026, compared to $78.7 million in the prior year period.
- 2
The company received $37.6 million in cash from General Motors related to a commercial settlement, with $3.5 million recognized as revenue in Q1 2026.
- 3
Net loss was $23.7 million, compared to a net loss of $301.2 million in the prior year period.
- 4
Adjusted EBITDA was $(12.7) million, compared to $4.9 million in the prior year period.
- 5
Cash balance at the end of the quarter was $175.6 million, up from $158.6 million at the end of 2025.
- 6
The company secured an additional subsea pipeline award to be delivered in Q3 2026.
- 7
A staged restart of the East Providence manufacturing facility is expected to begin in May.
Management Comments
Don Young
"We are immensely grateful that no employees were seriously injured in the incident. We are also appreciative of the professional work of first responders that night. In the time since, our team has made significant progress. Their work has been instrumental in creating a clear path forward for our East Providence facility," said Don Young, President and CEO. "We also deeply value the close cooperation of East Providence and Rhode Island public officials." Mr. Young added, “While it will take time to restore East Providence to its full capabilities, we are working closely with our external manufacturing facility to enhance its production capabilities to support both our Energy Industrial and Thermal Barrier segments. These efforts are intended to develop both near- and long-term supply flexibility, strengthening our operational resilience and reinforcing our commitment to customers.” “While the first half of 2026 has been shaped by temporary disruptions and evolving market conditions, we believe the fundamentals of our business are solid,” commented Mr. Young. “We are seeing positive market signals across our Energy Industrial platform, alongside growing diversification in our Thermal Barrier segment. As we move through the year, we expect to build momentum and further strengthen our positioning for sustained growth into 2027 and beyond.”
Grant Thoele
Grant Thoele, Chief Financial Officer and Treasurer, noted, “Our $175.6 million cash balance and disciplined cost management provide a strong foundation as we navigate our current supply and demand environment. Looking ahead to Q2, we expect increased quarterly revenue and improved profitability. With a healthy balance sheet and a financial framework that supports both resilience and growth, we believe that we remain well-positioned to operate and execute our flexible supply strategy, pursue growth opportunities, and deliver long-term shareholder value.”
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