Filing Flows › ASP Isotopes (ASPI) › Q1 2026
ASP Isotopes (ASPI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 20, 2026
ASP Isotopes (ASPI) reported revenue of $4.2M for the first quarter 2026 (Q1 2026), +279% from a year earlier and -75% from the quarter before. Operating margin was -595.4%, net loss $7.1M (170.4% of revenue).
ASP Isotopes, Q1 2026: revenue $4.2M (+279% year over year), operating margin -595.4%, net loss $7.1M, operating cash flow −$17.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.2M | -75% | +279% |
| Operating profit | −$24.9M | — | — |
| Net earnings | −$7.1M | — | — |
| Operating cash flow | −$17.8M | — | — |
What changed
Revenue was $4.2M in Q1 2026, up 279% year over year and down 75% from the previous quarter. Product was the largest line at 95% of revenue. Product added $2.9M year over year (up 261%), 94% of the total change.
Gross margin was 39.9%, up 10.2 points from Q1 2025. Operating costs exceeded revenue by $24.9M, an operating margin of -595.4%. Operating expenses grew 221% against revenue growth of 279%. The fastest-growing cost line was Research & development (+244%). The quarter ended with a net loss of $7.1M, narrower than the previous quarter's $63.3M loss. Non-operating items added $17.7M, -248% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$17.8M. Non-cash charges added back $3.1M of depreciation and amortization and $4.4M of share-based compensation. Working capital and other items used $18.1M. Capital expenditures of $6.1M exceeded it, leaving free cash flow of −$23.9M.
Questions
What was ASP Isotopes' revenue in the first quarter 2026?
ASP Isotopes (ASPI) reported revenue of $4.2M for the first quarter 2026 (Q1 2026), +279% from a year earlier and -75% from the quarter before.
Was ASP Isotopes profitable in the first quarter 2026?
Operating loss was $24.9M (-595.4% of revenue) and net loss $7.1M.
Source: ASP Isotopes 10-Q on SEC EDGAR.