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ASP Isotopes (ASPI) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · ASP Isotopes (ASPI) Q2 2026 earnings results →
Q2 2026 Revenue up 328% year over year to $5.1M · 664¢ of every $1 of revenue lost · operating margin -667.5%
ASP Isotopes made $5.1M in Q2 2026 (+328% Y/Y): Product $4.5M, Collaboration Revenue $600K. Operating margin -667.5%, net loss $34.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
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What changed this quarter
Revenue was $5.1M in Q2 2026, up 328% year over year and up 23% from the previous quarter. Product was the largest line at 88% of revenue. Product added $3.3M year over year (up 278%), 85% of the total change.
Gross margin was 28.9%, down 18.9 points from Q2 2025. Operating costs exceeded revenue by $34.2M, an operating margin of -667.5%. Operating expenses grew 184% against revenue growth of 328%. The fastest-growing cost line was Research & development (+675%). The quarter ended with a net loss of $34.0M, wider than the previous quarter's $7.1M loss.
Operating cash flow was −$23.3M. Non-cash charges added back $1.2M of depreciation and amortization and $4.5M of share-based compensation. Working capital and other items added $4.9M. Capital expenditures of $4.1M exceeded it, leaving free cash flow of −$27.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 14, 2026 | $5.1M | +328% | -667.5% | −$34.0M | −$23.3M |
| Q1 2026 | 10-Q | May 20, 2026 | $4.2M | +279% | -595.4% | −$7.1M | −$17.8M |
| Q4 2025 | 10-K | Apr 10, 2026 | $16.7M | 14× | -150.2% | −$63.3M | −$17.9M |
| Q3 2025 | 10-Q | Nov 19, 2025 | $4.9M | +350% | -306.1% | −$12.9M | −$8.9M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $1.2M | +17% | -999.1% | −$75.2M | −$7.9M |
| Q1 2025 | 10-Q | May 20, 2025 | $1.1M | +31% | -721.6% | −$8.5M | −$3.2M |
| Q4 2024 | 10-K | Mar 31, 2025 | $1.2M | +176% | -640.7% | −$9.2M | −$3.8M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About ASP Isotopes
We are an advanced materials company dedicated to the development of a differentiated isotope enrichment platform to strengthen global supply chain access to critical materials used in nuclear medicine, next-generation semiconductors, and nuclear energy. In addition, in January 2026, we acquired Renergen, which is South Africa’s leading onshore natural gas explorer and the first integrated producer of both liquid helium and LNG (as discussed further below). Our proprietary enrichment technologies, the Aerodynamic Separation Process (“ASP technology”) and Quantum Enrichment technology (“QE technology”), are designed to enable the production of isotopes for a range of industrial and advanced technology applications.
In its own words, from its 10-K, filed Apr 10, 2026.
ASP Isotopes against its Miscellaneous Chemical Products peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +328% against the peers' median +9%. Operating margin: -667.5% against the peers' median 8.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ASPI ASP Isotopes | Q2 2026 | $5.1M | +328% | -667.5% |
| CBT Cabot | Q4 FY26 | $1.0B | +12% | 12.0% |
| ESI Element Solutions | Q3 2026 | $995M | +52% | 11.4% |
| OEC Orion S.A. | Q3 2026 | $473M | +5% | 4.8% |
| WDFC WD 40 | Q4 FY26 | $177M | +8% | 10.8% |
| FTK Flotek Industries | Q3 2026 | $114M | +104% | 15.7% |
| ARQ Arq | Q3 2026 | $38.2M | +9% | 8.2% |
| FSI Flexible Solutions International | Q2 2026 | $7.6M | -33% | -29.2% |
| PURE Pure Bioscience | Q4 FY26 | $659K | -14% | -76.3% |
Source: ASP Isotopes 10-Q on SEC EDGAR · CIK 1921865 · Miscellaneous Chemical Products
13F: who owns ASPI and who is buying
More on ASPI
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results