Aspen Aerogels Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	230.26	271.1	452.7	238.72	180.36	121.62
Revenue Growth (YoY)	-47.30%	-40.11%	89.64%	32.35%	48.30%	21.29%
Cost of Revenue	202.8	225.11	269.8	181.8	175.39	111.69
Gross Profit	27.46	46	182.9	56.92	4.98	9.94
Selling, General & Admin	84.52	83.97	106.8	89.77	67.29	39.1
Research & Development	11.81	13.42	18.05	16.36	16.93	11.44
Other Operating Expenses	30.86	326.84	3.51	-	-	-
Total Operating Expenses	127.18	424.23	128.36	106.12	84.22	50.54
Operating Income	-99.72	-378.23	54.54	-49.2	-79.25	-40.6
Interest Expense	-11.91	-10.72	-11.96	1.21	-3.49	-0.23
Other Non-Operating Income (Expense)	0.7	1.79	-27.49	2.19	-	3.73
Total Non-Operating Income (Expense)	-11.21	-8.93	-39.45	3.39	-3.49	3.51
Pretax Income	-110.93	-387.16	15.09	-45.81	-82.74	-37.09
Provision for Income Taxes	1.07	2.39	1.71	-	-	-
Net Income	-111.99	-389.55	13.38	-45.81	-82.74	-37.09
Net Income to Common	-111.99	-389.55	13.38	-45.81	-82.74	-37.09
Shares Outstanding (Basic)	82	82	78	69	39	30
Shares Outstanding (Diluted)	82	82	80	69	39	30
Shares Change (YoY)	3.02%	2.52%	15.65%	76.41%	29.34%	15.38%
EPS (Basic)	-1.36	-4.73	0.17	-0.66	-2.10	-1.22
EPS (Diluted)	-1.36	-4.73	0.17	-0.66	-2.10	-1.22
Shares Outstanding	82.83	82.71	82.04	76.5	70	33.22
Free Cash Flow	35.57	-4.58	-40.71	-218.07	-272.37	-32.41
Free Cash Flow Per Share	0.43	-0.06	-0.51	-3.14	-6.92	-1.06
Gross Margin	11.93%	16.97%	40.40%	23.84%	2.76%	8.17%
Operating Margin	-43.31%	-139.51%	12.05%	-20.61%	-43.94%	-33.38%
Profit Margin	-48.64%	-143.69%	2.95%	-19.19%	-45.87%	-30.50%
FCF Margin	15.45%	-1.69%	-8.99%	-91.35%	-151.01%	-26.64%
EBITDA	-54.98	-333.07	77.06	-33.89	-70.02	-31.16
EBITDA Margin	-23.87%	-122.86%	17.02%	-14.19%	-38.82%	-25.62%
EBIT	-99.72	-378.23	54.54	-49.2	-79.25	-40.6
EBIT Margin	-43.31%	-139.51%	12.05%	-20.61%	-43.94%	-33.38%
Effective Tax Rate	-0.96%	-0.62%	11.36%	0.00%	0.00%	0.00%

Updated May 8, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q