Filing Flows › Aspen Aerogels (ASPN) › Q2 2026
Aspen Aerogels (ASPN) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
Aspen Aerogels (ASPN) reported revenue of $49.8M for the second quarter 2026 (Q2 2026), -36% from a year earlier and +32% from the quarter before. Operating margin was -57.7%, net loss $23.3M (46.7% of revenue).
Aspen Aerogels, Q2 2026: revenue $49.8M (-36% year over year), operating margin -57.7%, net loss $23.3M, operating cash flow −$16.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $49.8M | +32% | -36% |
| Operating profit | −$28.8M | — | — |
| Net earnings | −$23.3M | — | — |
| Operating cash flow | −$16.2M | -147% | — |
What changed
Revenue was $49.8M in Q2 2026, down 36% year over year and up 32% from the previous quarter. Thermal Barrier was the largest line at 59% of revenue. Thermal Barrier lost $25.8M year over year (down 47%), 91% of the total change.
Gross margin was 6.5%, down 25.9 points from Q2 2025. Operating costs exceeded revenue by $28.8M, an operating margin of -57.7%. Operating expenses grew 5% against a revenue fall of 36%. The fastest-growing cost line was Other operating costs (+51%). The quarter ended with a net loss of $23.3M, narrower than the previous quarter's $23.7M loss. Non-operating items added $6.1M, -27% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$16.2M. Non-cash charges added back $4.3M of depreciation and $1.9M of share-based compensation. Working capital and other items added $906K. Capital expenditures of $1.8M exceeded it, leaving free cash flow of −$18.0M.
Questions
What was Aspen Aerogels' revenue in the second quarter 2026?
Aspen Aerogels (ASPN) reported revenue of $49.8M for the second quarter 2026 (Q2 2026), -36% from a year earlier and +32% from the quarter before.
Was Aspen Aerogels profitable in the second quarter 2026?
Operating loss was $28.8M (-57.7% of revenue) and net loss $23.3M.
Source: Aspen Aerogels 10-Q on SEC EDGAR.