Aspen Aerogels, Inc. - ASPN STOCK NEWS

Aspen Aerogels reported a remarkable 90% year-over-year revenue growth for Q4 2022, totaling $59.6 million, up from $31.5 million in Q4 2021. Annual revenues reached $180 million, a 48% increase over 2021. However, the company also faced a net loss of $82.7 million for the year, with a loss per share of $2.10. Noteworthy achievements include record revenue from PyroThin thermal barriers at $55.6 million and a successful equity offering raising $265 million. For 2023, Aspen projects revenue between $200 million and $250 million, with anticipated net losses of $101.9 million to $91.9 million.

Aspen Aerogels, Inc. (NYSE: ASPN) announced a conference call for discussing its financial results for Q4 and the fiscal year ended December 31, 2022, scheduled for February 16, 2023, at 8:30 a.m. ET. Financial results will be released on February 15, 2023, post-market close. Shareholders can join the call by dialing (844) 200-6205 (domestic) or +1 (929) 526-1599 (international) with conference ID 484482. The live webcast will be available on Aspen's website, with a replay for one year. Aspen focuses on sustainability and electrification, offering innovative aerogel solutions for industries including EVs and energy infrastructure.

Aspen Aerogels, Inc. (ASPN) announced the pricing of a public offering of 25,263,158 shares at $9.50 each, aiming for gross proceeds of $240 million. The offering also includes a 30-day option for underwriters to buy an additional 3,789,473 shares. Proceeds will partially fund the construction of a new aerogel manufacturing facility in Statesboro, Georgia. The offering is set to close on December 2, 2022, subject to conditions.

Aspen Aerogels has announced a proposed underwritten public offering of $200 million of its common stock, with an option for underwriters to purchase an additional 15%. Wood River Capital, an affiliate of Koch, has expressed interest in acquiring up to $100 million in this offering. The proceeds will be used to fund the construction of Phase I of a new aerogel manufacturing facility in Statesboro, Georgia, and for general corporate purposes. The offering is subject to market conditions.

Aspen Aerogels announced a secured loan agreement with General Motors for $100 million to finance the construction of a new aerogel manufacturing facility in Statesboro, Georgia. This facility is expected to triple Aspen's aerogel capacity, supporting growth in sustainability and electrification markets, especially for electric vehicle applications. The loan is available from January to September 2023, with a maturity date set for March 31, 2025. Aspen's sustainability performance has been recognized with a Silver EcoVadis Medal, placing it in the 87th percentile of assessed companies.

Aspen Aerogels (NYSE: ASPN) announced the appointment of Katie Kool to its Board of Directors on November 2, 2022. Kool, former CEO of Tide Cleaners, brings extensive experience from Procter & Gamble, including overseeing a business unit generating over $8 billion in retail sales. Her leadership grew Tide Cleaners significantly, ranking 76th in Entrepreneur's Franchise 500. Concurrently, Robert M. Gervis has left the Board. CEO Donald Young expressed confidence in Kool's ability to enhance governance and drive growth strategies.

Aspen Aerogels reported third-quarter 2022 revenue of $36.7 million, marking a 21% year-over-year growth from $30.4 million. However, the company faced a significant net loss of $29.6 million compared to $7.8 million in Q3 2021, resulting in a net loss per share of $0.75. Adjusted EBITDA was $(23.2) million, worsened from $(7.8) million last year. The company anticipates full-year revenue of approximately $180 million and updates net loss guidance to between $82.3 million and $86.8 million.

Aspen Aerogels, Inc. (ASPN) will release its third-quarter 2022 financial results on October 26, 2022, after market close. A conference call to discuss these results is set for October 27, 2022, at 8:30 a.m. ET. Interested parties can join the call by dialing 844 200 6205 for domestic calls or +1 929-526-1599 internationally. The call will also be available via a live webcast on Aspen's website, with a replay accessible for one year afterward.

Aspen focuses on sustainability solutions, particularly in EV and energy efficiency markets.

Aspen Aerogels, a leader in sustainability solutions, will attend the 15th Annual Cowen Global Transportation & Sustainable Mobility Virtual Conference on September 7, 2022. CEO Donald R. Young and CFO Ricardo C. Rodriguez will conduct one-on-one investor meetings and participate in a Fireside Chat from 9:20 a.m. to 9:50 a.m. ET. A live webcast of the chat will be available, with a 90-day replay. The presentation materials can be accessed on Aspen's Investor Relations website. Aspen focuses on enhancing resource efficiency and clean energy solutions, particularly in the electric vehicle sector.