Aspen Aerogels Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	352.85	452.7	238.72	180.36	121.62	100.27
Revenue Growth (YoY)	-14.74%	89.64%	32.35%	48.30%	21.29%	-28.06%
Cost of Revenue	236.8	265.7	181.8	175.39	111.69	85.68
Gross Profit	116.06	187	56.92	4.98	9.94	14.59
Selling, General & Admin	89.49	106.8	89.77	67.29	39.1	27.43
Research & Development	15.03	18.05	16.36	16.93	11.44	8.73
Operating Expenses	104.52	124.85	106.12	84.22	50.54	36.16
Operating Income	11.54	62.15	-49.2	-79.25	-40.6	-21.57
Interest Expense	-11.54	-11.96	-5.33	-5.11	-0.23	-0.24
Interest & Investment Income	-	-	6.53	1.62	-	-
Other Non Operating Income (Expenses)	0.61	-	-	-	-	-
EBT Excluding Unusual Items	0.61	50.19	-48	-82.74	-40.83	-21.81
Asset Writedown	-0.8	-7.61	-	-	-	-
Other Unusual Items	-	-27.49	2.19	-	3.73	-
Pretax Income	-302.96	15.09	-45.81	-82.74	-37.09	-21.81
Income Tax Expense	2.32	1.71	-	-	-	-
Net Income	-305.28	13.38	-45.81	-82.74	-37.09	-21.81
Net Income to Common	-305.28	13.38	-45.81	-82.74	-37.09	-21.81
Shares Outstanding (Basic)	82	78	69	39	30	26
Shares Outstanding (Diluted)	82	80	69	39	30	26
Shares Change (YoY)	6.54%	15.65%	76.41%	29.34%	15.38%	9.45%
EPS (Basic)	-3.73	0.17	-0.66	-2.10	-1.22	-0.83
EPS (Diluted)	-3.73	0.17	-0.66	-2.10	-1.22	-0.83
Free Cash Flow	2.69	-40.71	-218.07	-272.37	-32.41	-13.34
Free Cash Flow Per Share	0.03	-0.51	-3.14	-6.92	-1.06	-0.51
Gross Margin	32.89%	41.31%	23.84%	2.76%	8.17%	14.55%
Operating Margin	3.27%	13.73%	-20.61%	-43.94%	-33.38%	-21.51%
Profit Margin	-86.52%	2.96%	-19.19%	-45.87%	-30.50%	-21.75%
Free Cash Flow Margin	0.76%	-8.99%	-91.35%	-151.01%	-26.65%	-13.30%
EBITDA	33.95	84.67	-33.89	-70.02	-31.16	-11.37
EBITDA Margin	9.62%	18.70%	-14.19%	-38.82%	-25.62%	-11.34%
D&A For EBITDA	22.41	22.53	15.32	9.22	9.44	10.2
EBIT	11.54	62.15	-49.2	-79.25	-40.6	-21.57
EBIT Margin	3.27%	13.73%	-20.61%	-43.94%	-33.38%	-21.51%
Effective Tax Rate	-	11.36%	-	-	-	-

Updated Nov 6, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q