Filing Flows › Aspen Aerogels (ASPN) › Q1 2025
Aspen Aerogels (ASPN) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Aspen Aerogels (ASPN) reported revenue of $78.7M for the first quarter 2025 (Q1 2025), -17% from a year earlier and -36% from the quarter before. Operating margin was -380.2%, net loss $301M (382.7% of revenue).
Aspen Aerogels, Q1 2025: revenue $78.7M (-17% year over year), operating margin -380.2%, net loss $301M, operating cash flow $5.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $78.7M | -36% | -17% |
| Operating profit | −$299M | — | — |
| Net earnings | −$301M | — | — |
| Operating cash flow | $5.6M | -84% | — |
What changed
Revenue was $78.7M in Q1 2025, down 17% year over year and down 36% from the previous quarter. Thermal Barrier was the largest line at 62% of revenue. Thermal Barrier lost $16.5M year over year (down 25%), 105% of the total change.
Gross margin was 29.0%, down 8.2 points from a year earlier. Operating costs exceeded revenue by $299.3M, an operating margin of -380.2%. Operating expenses grew 885% against a revenue fall of 17%. The fastest-growing cost line was Other operating costs (+10870%). The quarter ended with a net loss of $301.2M, after a profit of $11.4M the previous quarter.
Operating cash flow was $5.6M. Non-cash charges added back $5.8M of depreciation and $2.0M of share-based compensation. Working capital and other items added $299.1M. Capital expenditures of $13.0M exceeded it, leaving free cash flow of −$7.4M.
Questions
What was Aspen Aerogels' revenue in the first quarter 2025?
Aspen Aerogels (ASPN) reported revenue of $78.7M for the first quarter 2025 (Q1 2025), -17% from a year earlier and -36% from the quarter before.
Was Aspen Aerogels profitable in the first quarter 2025?
Operating loss was $299M (-380.2% of revenue) and net loss $301M.
Source: Aspen Aerogels 10-Q on SEC EDGAR.