Welcome to our dedicated page for Aspen Aerogels news (Ticker: ASPN), a resource for investors and traders seeking the latest updates and insights on Aspen Aerogels stock.
Aspen Aerogels, Inc. (NYSE: ASPN) is frequently featured in corporate news for its role as a technology leader in sustainability, electrification solutions, and thermal management. The company’s news flow often centers on developments related to its aerogel technology platform, including product applications in the electric vehicle (EV) market and in large energy infrastructure projects.
Readers following ASPN news can expect regular updates on quarterly and annual financial results, where Aspen discusses segment performance in its Energy Industrial and Thermal Barrier businesses, as well as non‑GAAP metrics such as Adjusted EBITDA. These releases are typically accompanied by details on cost structure initiatives, capital expenditure plans, and commentary on market conditions in EV and energy infrastructure.
Aspen’s news also covers strategic and operational milestones, such as amendments to its MidCap credit facility, restructuring actions, and updates on liquidity and working capital. Executive leadership changes, including CFO transitions and new senior appointments like the Chief Administrative Officer, are disclosed through press releases and corresponding Form 8‑K filings.
In addition, Aspen regularly announces its participation in investor conferences and industry events, where management presents the company’s outlook on resource efficiency, e‑mobility, clean energy, and adjacent electrification and energy storage opportunities. Product‑related news may highlight contracts or awards for PyroThin thermal barrier solutions in EV programs and references to LNG and subsea project opportunities for Cryogel and Pyrogel in the Energy Industrial segment.
For investors and analysts, the ASPN news stream provides context on how Aspen’s aerogel technology platform is being applied across markets, how management is addressing financial and operational priorities, and how external factors in EV and energy infrastructure are influencing the company’s business. Bookmarking this page allows for efficient access to Aspen’s latest press releases and related regulatory disclosures.
Aspen Aerogels (NYSE: ASPN), a technology leader in sustainability and electrification solutions, has announced a public offering of 4,250,000 shares of its common stock. The company plans to grant underwriters a 30-day option to purchase up to an additional 637,500 shares. Goldman Sachs & Co. and Morgan Stanley are acting as joint book-running managers for the offering.
Aspen intends to use the net proceeds for working capital, capital expenditures, and general corporate purposes. The offering is being made pursuant to a shelf registration statement on Form S-3 filed with the SEC. A preliminary prospectus supplement and accompanying prospectus will be available on the SEC's website.
Aspen Aerogels (NYSE: ASPN) has received a conditional commitment from the U.S. Department of Energy for a proposed loan of up to $670.6 million to finance the construction of its second aerogel manufacturing facility in Register, Georgia. The loan, structured as project financing, would fully fund the remaining CAPEX needed to complete the plant. The Register Plant is designed to manufacture PyroThin® aerogel blankets, with an estimated revenue capacity of $1.2B - $1.6B.
Additionally, Aspen announced Q3 2024 preliminary financial results, including revenue of approximately $117 million, a net loss of about $13 million, and Adjusted EBITDA of approximately $25 million. The company's cash and cash equivalents were approximately $113 million as of September 30, 2024.
Aspen Aerogels (NYSE: ASPN) has secured a $125 million term loan and a $100 million revolving credit facility with MidCap Financial. The collateral structure excludes assets related to Aspen's planned second aerogel manufacturing facility in Statesboro, Georgia. Proceeds will be used to fully redeem the company's legacy convertible note and support general corporate purposes. The term loan matures on August 19, 2029.
This transaction aims to reduce Aspen's cost of capital and provide financing flexibility. The collateral structure is optimized to fit into the anticipated structure of a potential debt option for accelerating the construction of the second manufacturing facility. Management views this as a step towards further reducing capital costs and accessing additional liquidity to support profitable revenue growth.
Aspen Aerogels, Inc. (NYSE: ASPN) has appointed Cari Robinson to its Board of Directors, including roles on the Audit Committee and the Nominating, Governance and Sustainability Committee. Robinson, 61, brings extensive experience in strategic communications, crisis management, and corporate governance. Her background includes senior positions at August Strategic Communications, Revlon, Inc., and IBM, where she handled complex legal, financial, and cybersecurity matters. Donald R. Young, President and CEO of Aspen, highlighted Robinson's strategic thinking and business acumen as valuable assets to the company. This appointment aligns with Aspen's commitment to incorporating diverse expertise and perspectives into its leadership team as the company continues to grow in sustainability and electrification solutions.
Aspen Aerogels (NYSE: ASPN) reported record Q2 2024 revenues of $117.8 million, up 25% QoQ and 145% YoY. The company achieved net income of $16.8 million ($0.21 per diluted share) and Adjusted EBITDA of $28.9 million. Key highlights include:
- Thermal Barriers revenue: $80.8 million (+24% QoQ, +540% YoY)
- Energy Industrial revenue: $36.9 million (+27% QoQ, +4% YoY)
- Gross margins improved to 44%
- Cash generated from operations: $6.8 million
Aspen increased its 2024 outlook, projecting revenue over $390 million (+63% YoY), net income exceeding $7 million, and Adjusted EBITDA above $60 million. The company remains positioned to capture additional revenues as automotive OEM customers ramp up production and Energy Industrial product supply increases.
Aspen Aerogels, Inc. (NYSE: ASPN) has announced its upcoming second quarter 2024 earnings release and conference call. The company plans to release its financial results for Q2 2024 on Wednesday, August 7, 2024, after market close. A conference call to discuss these results is scheduled for Thursday, August 8, 2024, at 8:30 a.m. ET.
President & CEO Don Young and CFO & Treasurer Ricardo C. Rodriguez will lead the discussion. Interested parties can join the call by dialing +1 (833) 470-1428 (domestic) or +1 (929) 526-1599 (international) with conference ID '517793'. A live webcast and slide presentation will be available on Aspen's website. A replay will be accessible on the company's Investor Relations section for approximately one year after the call.
Aspen Aerogels (NYSE: ASPN) has confirmed its attendance at the 10th Annual ROTH London Conference, scheduled for June 25-27, 2024, at the Four Seasons Hotel London at Park Lane. The company, recognized for its advancements in sustainability and electrification, will be represented by President & CEO Donald R. Young and CFO & Treasurer Ricardo C. Rodriguez. They will conduct one-on-one and small group meetings with investors on June 26 and 27. Interested parties are encouraged to arrange meetings through their ROTH Capital representative.
Aspen Aerogels has received a PyroThin® design award from Valmet Automotive to supply thermal barriers for the next generation electric Porsche 718 series. This marks Aspen's sixth OEM award and includes models like the Cayman and Boxster, set for production in 2025. Aspen's 2024 financial outlook remains unchanged, projecting revenues of over $380 million, with the Thermal Barrier segment contributing over $230 million. The net income is expected to exceed $2 million with an earnings per share of over $0.03. Adjusted EBITDA is projected to be over $55 million, reflecting a 340% year-over-year improvement. The company is optimistic about adding more awards to its portfolio in 2024.
Aspen Aerogels, Inc. reported $94.5 million in company revenue with 37% gross profit margins and $12.9 million Adjusted EBITDA for Q1 2024. They raised their 2024 Adjusted EBITDA outlook by 83% and expect positive net income for the year. Recent business highlights include revenue growth, thermal barriers, operating income improvement, and awards received. The updated 2024 financial outlook shows significant growth in revenue, Adjusted EBITDA, net income, and earnings per share.
Aspen Aerogels, Inc. (NYSE: ASPN) received both the Automotive News PACE Award and the Innovation Partnership Award for its PyroThin C2C barrier platform used in electric vehicle battery safety. The company collaborated with General Motors to develop the solution, recognized for its industry-leading innovation and technology advancement. Aspen's PyroThin technology has revolutionized the automotive industry by improving EV safety, energy density, and cell health across North America, Europe, and Asia. With a rich history of customer collaboration and innovation, Aspen continues to push the boundaries of what is achievable in the industry.
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