Aspen Aerogels Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	271.1	452.7	238.72	180.36	121.62
Revenue Growth (YoY)	-40.11%	89.64%	32.35%	48.30%	21.29%
Cost of Revenue	225.11	269.8	181.8	175.39	111.69
Gross Profit	46	182.9	56.92	4.98	9.94
Selling, General & Admin	83.97	106.8	89.77	67.29	39.1
Research & Development	13.42	18.05	16.36	16.93	11.44
Other Operating Expenses	326.84	3.51	-	-	-
Total Operating Expenses	424.23	128.36	106.12	84.22	50.54
Operating Income	-378.23	54.54	-49.2	-79.25	-40.6
Interest Expense	-10.72	-11.96	1.21	-3.49	-0.23
Other Non-Operating Income (Expense)	1.79	-27.49	2.19	-	3.73
Total Non-Operating Income (Expense)	-8.93	-39.45	3.39	-3.49	3.51
Pretax Income	-387.16	15.09	-45.81	-82.74	-37.09
Provision for Income Taxes	2.39	1.71	-	-	-
Net Income	-389.55	13.38	-45.81	-82.74	-37.09
Net Income to Common	-389.55	13.38	-45.81	-82.74	-37.09
Shares Outstanding (Basic)	82	78	69	39	30
Shares Outstanding (Diluted)	82	80	69	39	30
Shares Change (YoY)	2.52%	15.65%	76.41%	29.34%	15.38%
EPS (Basic)	-4.73	0.17	-0.66	-2.10	-1.22
EPS (Diluted)	-4.73	0.17	-0.66	-2.10	-1.22
Free Cash Flow	-4.58	-40.71	-218.07	-272.37	-32.41
Free Cash Flow Per Share	-0.06	-0.51	-3.14	-6.92	-1.06
Gross Margin	16.97%	40.40%	23.84%	2.76%	8.17%
Operating Margin	-139.51%	12.05%	-20.61%	-43.94%	-33.38%
Profit Margin	-143.69%	2.95%	-19.19%	-45.87%	-30.50%
FCF Margin	-1.69%	-8.99%	-91.35%	-151.01%	-26.64%
EBITDA	-333.07	77.06	-33.89	-70.02	-31.16
EBITDA Margin	-122.86%	17.02%	-14.19%	-38.82%	-25.62%
EBIT	-378.23	54.54	-49.2	-79.25	-40.6
EBIT Margin	-139.51%	12.05%	-20.61%	-43.94%	-33.38%
Effective Tax Rate	-0.62%	11.36%	0.00%	0.00%	0.00%

Updated Feb 25, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q