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Aspen Aerogels, Inc. (NYSE: ASPN) is a leading technology company specializing in advanced aerogel insulation solutions. Its core products provide unparalleled thermal performance, significantly outperforming traditional insulation materials. Aspen's flexible aerogel insulation products are used across various industries, including oil and gas, LNG shipping and storage, building and construction, outdoor apparel, appliances, transportation, and military and aerospace.
The company's innovative product line includes Pyrogel® and Cryogel®, which are renowned for their superior insulation properties, and Spaceloft®, which offers industry-leading energy efficiency and fire safety for buildings. Aspen's PyroThin® technology addresses critical thermal runaway challenges in the electric vehicle (EV) market, enhancing the safety and performance of lithium-ion battery cells. Aspen Battery Materials, the company’s carbon aerogel initiative, aims to boost the effectiveness of these cells, enabling longer driving ranges and reduced costs for EV manufacturers.
Headquartered in Northborough, Massachusetts, Aspen Aerogels operates manufacturing facilities in East Providence, Rhode Island, and engages in extensive research and development activities. The company collaborates with leading industry partners to expand the applications of its Aerogel Technology Platform® into new high-value markets.
Recent business highlights show the company's robust growth trajectory. In the third quarter of 2023, Aspen reported total revenue of $60.8 million, a significant increase from the previous year. The company's strategic focus on the EV market has resulted in notable commercial success, with its EV Thermal Barrier revenues more than doubling compared to the prior quarter. Aspen anticipates continued demand growth and aims to secure multiple OEM awards by the end of 2023.
The financial outlook for 2023 and beyond remains positive, with expectations for increased revenue and improved profitability driven by strong demand from both the Energy Industrial and EV markets. Aspen's commitment to sustainability and resource efficiency underpins its strategic initiatives, positioning the company as a key player in the global push towards clean energy and e-mobility.
For more information, visit Aspen Aerogels' website at www.aerogel.com or follow them on social media for the latest updates.
Aspen Aerogels, Inc. (NYSE: ASPN), a leader in sustainability technology, will participate in two upcoming investor conferences: the 24th Annual Needham Growth Conference on January 12, 2022, and the R.W. Baird 2022 Vehicle Technology & Mobility Conference on January 25, 2022. CEO Donald R. Young and CFO John F. Fairbanks will host one-on-one meetings with investors at both events. Aspen's innovative products, including PyroThin® thermal barriers and Spaceloft® building materials, focus on enhancing energy efficiency and supporting electric vehicle technology.
Aspen Aerogels (NYSE: ASPN) announced the termination of its supply arrangement with BASF Polyurethanes, previously detailed in its Form 10-Q and updated on December 27, 2021. Aspen will now independently commercialize its Spaceloft® A2 insulation product, targeting the sustainable building materials market. The product emphasizes thermal management and fire safety, essential in sectors like electric vehicles and energy infrastructure. Aspen's President and CEO expressed optimism about their revenue momentum heading into 2022.
Aspen Aerogels, a leader in sustainability technology, will participate in two virtual investor events in December 2021. The first is the Seaport Research Energy & Industrials: Transformation & Sustainability Conference on December 14, featuring one-on-one meetings and a Fireside Chat with President & CEO Donald R. Young and CFO John F. Fairbanks. The second event is the Water Tower Research Fireside Chat Series on December 16, where Young and CTO George L. Gould will discuss Aspen's Aerogel Technology Platform. Presentation materials are available on the company's website.
Aspen Aerogels, Inc. (NYSE: ASPN) announced its participation in four upcoming investor conferences. These are: R.W. Baird 2021 Global Industrial Conference on November 9, Craig-Hallum Capital Group Alpha Select Conference on November 16, Piper Sandler Battery Summit on November 17 in Palo Alto, CA, and Seaport Research Energy & Industrials Conference on December 14. CEO Donald R. Young will participate in discussions and panels, with one-on-one meetings available for interested investors. Presentation materials will be accessible on Aspen's Investor Relations website.
Aspen Aerogels reported a 26% increase in third quarter revenue, totaling $30.4 million, up from $24.2 million year-over-year. However, the company faced a net loss of $7.8 million, compared to $6.8 million in the same quarter last year. For the first nine months of 2021, total revenue rose to $90.1 million, while the net loss grew to $20.7 million. Aspen has raised its full-year revenue outlook to between $122 million and $128 million, driven by growth in the EV thermal barrier and energy markets.
Aspen Aerogels, Inc. (NYSE: ASPN) will announce its third quarter results for the period ending September 30, 2021, on October 28, 2021, after market close. The company will conduct a conference call at 5:00 p.m. ET on the same day, featuring CEO Don Young and CFO John Fairbanks. Interested parties can participate by calling 844-200-6205 or via an online webcast on Aspen's website. A replay of the call will be available for one year on their site.
Aspen Aerogels, Inc. (NYSE: ASPN) will participate in the Cowen 14th Annual Global Transportation & Sustainable Mobility Conference on September 8, 2021, at 12:00 p.m. Eastern Time. The event will feature CEO Donald R. Young and CFO John F. Fairbanks. Interested parties can register for the live audio webcast here or on Aspen's website. The conference highlights Aspen's commitment to sustainability through its innovative aerogel technologies, which enhance efficiency in sectors like electric vehicles and construction.
Aspen Aerogels (NYSE: ASPN) will join the 41st Annual Canaccord Genuity Growth Conference virtually on August 11, 2021, at 8:30 a.m. ET. CEO Donald R. Young and CFO John F. Fairbanks will represent the company in a fireside chat. Following the presentation, a replay will be available on the Aspen Aerogels website. Aspen is recognized for its aerogel technology, which supports sustainability initiatives in the electric vehicle market and energy efficiency in buildings. For more details, visit www.aerogel.com.
Aspen Aerogels reported Q2 2021 revenue of $31.7 million, up 29% year-over-year from $24.6 million. Despite revenue growth, the net loss widened to $6.7 million compared to last year's $5.7 million. For H1 2021, total revenue reached $59.8 million, an increase from $53.1 million in H1 2020, while net loss increased to $12.9 million from $8.9 million. The company ended Q2 with cash of $102.3 million and is focused on expanding its PyroThin™ thermal barrier business, projecting cumulative revenue potential growth of 30% to $1.3 billion through 2030.
Aspen Aerogels, Inc. (ASPN) has scheduled its second-quarter 2021 earnings release for July 29, 2021, after market close. CEO Don Young and CFO John Fairbanks will discuss the results during a conference call at 5:00 p.m. ET. Interested parties can join the call by dialing the provided numbers or through a live webcast on the company's website. Aspen Aerogels focuses on sustainability and innovative aerogel technologies, catering to e-mobility, clean energy, and thermal runaway challenges in electric vehicles.
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