Filing Flows › ASP Isotopes (ASPI) › Q3 2025
ASP Isotopes (ASPI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 19, 2025
ASP Isotopes (ASPI) reported revenue of $4.9M for the third quarter 2025 (Q3 2025), +350% from a year earlier and +308% from the quarter before. Operating margin was -306.1%, net loss $12.9M (263.7% of revenue).
ASP Isotopes, Q3 2025: revenue $4.9M (+350% year over year), operating margin -306.1%, net loss $12.9M, operating cash flow −$8.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.9M | +308% | +350% |
| Operating profit | −$15.0M | — | — |
| Net earnings | −$12.9M | — | — |
| Operating cash flow | −$8.9M | — | — |
What changed
Revenue was $4.9M in Q3 2025, up 350% year over year and up 308% from the previous quarter.
Gross margin was 8.7%, down 18.4 points from a year earlier. Operating costs exceeded revenue by $15.0M, an operating margin of -306.1%. Operating expenses grew 169% against revenue growth of 350%. The fastest-growing cost line was Research & development (+200%). The quarter ended with a net loss of $12.9M, narrower than the previous quarter's $75.2M loss.
Operating cash flow was −$8.9M. Non-cash charges added back $296K of depreciation and amortization and $4.5M of share-based compensation. Working capital and other items used $745K. Capital expenditures of $3.1M exceeded it, leaving free cash flow of −$12.0M.
Questions
What was ASP Isotopes' revenue in the third quarter 2025?
ASP Isotopes (ASPI) reported revenue of $4.9M for the third quarter 2025 (Q3 2025), +350% from a year earlier and +308% from the quarter before.
Was ASP Isotopes profitable in the third quarter 2025?
Operating loss was $15.0M (-306.1% of revenue) and net loss $12.9M.
Source: ASP Isotopes 10-Q on SEC EDGAR.