Aspen Aerogels Balance Sheet

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
Cash & Equivalents	150.72	220.88	139.72	281.34	76.56	16.5
Cash & Short-Term Investments	150.72	220.88	139.72	281.34	76.56	16.5
Cash Growth	32.81%	58.09%	-50.34%	267.45%	364.14%	354.06%
Accounts Receivable	69.15	109.1	70	57.35	20.43	15.7
Other Receivables	-	-	2.2	-	-	-
Receivables	69.15	109.1	72.2	57.35	20.43	15.7
Inventory	43.04	47.55	39.19	22.54	11.99	13.1
Prepaid Expenses	14.26	31.52	14.98	7.24	2.78	1.83
Restricted Cash	1.71	0.39	0.25	1.23	-	-
Other Current Assets	0.04	-	-	-	0.39	-
Total Current Assets	278.92	409.45	266.33	369.69	112.15	47.12
Property, Plant & Equipment	178.35	480.13	434.44	271.21	69.31	50.22
Long-Term Deferred Charges	7.72	-	-	-	0.64	-
Other Long-Term Assets	26.4	5.57	2.28	2.52	0.86	0.08
Total Assets	491.4	895.14	703.05	643.42	182.95	97.42
Accounts Payable	19.1	44.36	51.09	54.73	17.44	5.35
Accrued Expenses	15.59	36.5	22.81	16	10.82	3.88
Current Portion of Long-Term Debt	26	23.78	-	-	-	1.61
Current Portion of Leases	9.23	3.28	1.87	2.37	2.25	1.05
Current Unearned Revenue	0.82	2.2	2.32	5.85	1.32	2.04
Other Current Liabilities	-	-	-	-	4.73	-
Total Current Liabilities	70.74	110.11	78.1	78.95	36.56	13.93
Long-Term Debt	84.34	147.18	114.99	103.58	-	2.06
Long-Term Leases	30.58	23.15	21.91	13.46	12.99	3.6
Other Long-Term Liabilities	-	-	-	-	5	9.99
Total Liabilities	185.66	280.44	214.99	195.98	54.55	29.57
Additional Paid-In Capital	1,283	1,275	1,162	1,075	673.46	575.81
Retained Earnings	-976.87	-660.23	-673.6	-627.79	-545.05	-507.96
Shareholders' Equity	305.73	614.71	488.06	447.44	128.41	67.85
Total Liabilities & Equity	491.4	895.14	703.05	643.42	182.95	97.42
Total Debt	150.16	197.38	138.77	119.4	15.24	8.31
Net Cash (Debt)	0.57	23.5	0.95	161.93	61.33	8.19
Net Cash Growth	-	2370.87%	-99.41%	164.05%	649.25%	-
Net Cash Per Share	0.01	0.29	0.01	4.11	2.02	0.31
Filing Date Shares Outstanding	82.65	82.06	76.66	70.07	33.23	28.3
Total Common Shares Outstanding	82.56	82.04	76.5	69.99	33.22	27.82
Working Capital	208.18	299.34	188.24	290.74	75.6	33.2
Book Value Per Share	3.70	7.49	6.38	6.39	3.87	2.44
Tangible Book Value	305.73	614.71	488.06	447.44	128.41	67.85
Tangible Book Value Per Share	3.70	7.49	6.38	6.39	3.87	2.44
Buildings	27.05	27.03	25.47	24.02	24.02	24.02
Machinery	215.04	211.58	194.83	146.85	136.67	133.66
Construction In Progress	54.81	352.57	314.7	209.06	13.46	1.91
Leasehold Improvements	25.56	24.84	23.51	9.23	3.32	-

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

SEC Filings: 10-K · 10-Q