ASP Isotopes Financials
This page shows ASP Isotopes (ASPI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
ASPI's equity-funded buildout is swelling cash and assets faster than sales, leaving the business externally financed despite growth.
FY2025's jump to$23.8M of revenue did not improve self-funding: free cash flow was still-$47.4M , so customer activity is rising faster than cash conversion. With$285.6M of cash and almost no long-term debt at$1.5M , that gap is being bridged mainly by prior financing rather than by lenders or operations.
The operating model is not yet showing operating leverage. Sales expanded from
The balance sheet looks liquid rather than debt-funded. Investing cash outflow reached
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of ASP Isotopes's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
ASP Isotopes has an operating margin of -251.2%, meaning the company retains $-251 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -636.0% the prior year.
ASP Isotopes's revenue surged 475.5% year-over-year to $23.8M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
ASP Isotopes carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 12.23, ASP Isotopes holds $12.23 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While ASP Isotopes generated -$37.8M in operating cash flow, capex of $9.7M consumed most of it, leaving -$47.4M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
ASP Isotopes generates a -78.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -67.7% the prior year.
ASP Isotopes passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, ASP Isotopes generates $0.24 in operating cash flow (-$37.8M OCF vs -$159.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
ASP Isotopes earns $-6388.1 in operating income for every $1 of interest expense (-$59.9M vs $9K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
ASP Isotopes generated $23.8M in revenue in fiscal year 2025. This represents an increase of 475.5% from the prior year.
ASP Isotopes's EBITDA was -$58.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 124.1% from the prior year.
ASP Isotopes reported -$159.8M in net income in fiscal year 2025. This represents a decrease of 393.0% from the prior year.
ASP Isotopes earned $-2.11 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 234.9% from the prior year.
Cash & Balance Sheet
ASP Isotopes generated -$47.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 79.9% from the prior year.
ASP Isotopes held $279.6M in cash against $1.5M in long-term debt as of fiscal year 2025.
ASP Isotopes had 111M shares outstanding in fiscal year 2025. This represents an increase of 53.8% from the prior year.
Margins & Returns
ASP Isotopes's gross margin was 14.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 24.3 percentage points from the prior year.
ASP Isotopes's operating margin was -251.2% in fiscal year 2025, reflecting core business profitability. This is up 384.8 percentage points from the prior year.
ASP Isotopes's net profit margin was -670.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 112.2 percentage points from the prior year.
ASP Isotopes's ROE was -78.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 10.6 percentage points from the prior year.
Capital Allocation
ASP Isotopes invested $12.4M in research and development in fiscal year 2025. This represents an increase of 293.7% from the prior year.
ASP Isotopes invested $9.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 0.2% from the prior year.
ASPI Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.2M-74.9% | $16.7M+240.7% | $4.9M+308.0% | $1.2M+8.7% | $1.1M-7.7% | $1.2M+9.7% | $1.1M+6.4% | $1.0M |
| Cost of Revenue | $2.5M-82.8% | $14.6M+226.4% | $4.5M+613.2% | $626K-19.2% | $775K+31.7% | $589K-25.9% | $794K+32.0% | $601K |
| Gross Profit | $1.7M-20.0% | $2.1M+392.2% | $423K-26.0% | $572K+75.0% | $327K-46.0% | $605K+105.8% | $294K-30.2% | $421K |
| R&D Expenses | $5.3M-23.2% | $6.8M+121.1% | $3.1M+252.1% | $880K-42.5% | $1.5M+8.0% | $1.4M+36.9% | $1.0M+118.6% | $473K |
| SG&A Expenses | $21.3M+21.4% | $17.5M+42.7% | $12.3M+5.4% | $11.7M+72.8% | $6.7M-44.7% | $12.2M+159.8% | $4.7M-36.6% | $7.4M |
| Operating Income | -$24.9M+0.5% | -$25.0M-67.2% | -$15.0M-25.1% | -$12.0M-50.5% | -$8.0M-4.0% | -$7.6M-40.8% | -$5.4M+27.1% | -$7.5M |
| Interest Expense | $1.7M | $0 | $0-100.0% | $3K-59.6% | $7K+110.3% | -$65K | $0-100.0% | $69K |
| Income Tax | -$31K-116.8% | $184K+150.1% | $74K-22.7% | $95K+234.1% | -$71K-146.3% | $153K+1930.6% | -$8K-160.8% | $14K |
| Net Income | -$7.1M+88.8% | -$63.3M-391.2% | -$12.9M+82.8% | -$75.2M-788.3% | -$8.5M+8.2% | -$9.2M-25.4% | -$7.4M+17.2% | -$8.9M |
| EPS (Diluted) | $-0.06 | N/A | $-0.15+85.4% | $-1.03-758.3% | $-0.12 | N/A | $-0.12+50.0% | $-0.24 |
ASPI Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $587.7M+18.0% | $498.0M+120.5% | $225.9M+66.2% | $135.9M+49.6% | $90.9M-3.7% | $94.3M+12.2% | $84.1M+53.6% | $54.8M |
| Current Assets | $308.7M-22.8% | $399.9M+129.8% | $174.0M+71.3% | $101.6M+72.1% | $59.0M-10.2% | $65.7M+17.2% | $56.1M+74.9% | $32.1M |
| Cash & Equivalents | $207.3M-25.8% | $279.6M+145.5% | $113.9M+68.2% | $67.7M+21.0% | $56.0M-9.6% | $61.9M+20.0% | $51.6M+82.5% | $28.3M |
| Inventory | $1.4M+24.7% | $1.1M-20.0% | $1.4M+31.2% | $1.0M+205.1% | $343K+419.2% | $66K-22.2% | $85K | N/A |
| Accounts Receivable | $2.4M+122.0% | $1.1M-93.8% | $17.4M+2583.0% | $649K-6.2% | $692K-2.1% | $707K+26.2% | $560K+8.7% | $515K |
| Goodwill | $6.4M+23.5% | $5.2M-24.4% | $6.8M+103.7% | $3.4M+3.1% | $3.3M+3.0% | $3.2M-8.5% | $3.5M+5.2% | $3.3M |
| Total Liabilities | $288.7M+22.8% | $235.1M+81.9% | $129.3M+20.2% | $107.6M+138.3% | $45.1M+4.6% | $43.2M+2.5% | $42.1M+4.2% | $40.4M |
| Current Liabilities | $70.4M+115.2% | $32.7M+15.4% | $28.3M+310.3% | $6.9M-15.7% | $8.2M+15.9% | $7.1M-4.9% | $7.4M-7.3% | $8.0M |
| Long-Term Debt | $5.1M+244.0% | $1.5M-4.1% | $1.5M | N/A | N/A | $1.4M | N/A | N/A |
| Total Equity | $289.0M+41.6% | $204.2M+175.6% | $74.1M+193.6% | $25.2M-40.6% | $42.5M-11.2% | $47.9M+23.8% | $38.7M+251.4% | $11.0M |
| Retained Earnings | -$238.5M-3.1% | -$231.3M-51.6% | -$152.6M-9.2% | -$139.7M-116.2% | -$64.6M-15.0% | -$56.2M-19.5% | -$47.0M-18.3% | -$39.7M |
ASPI Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$17.8M+0.5% | -$17.9M-101.5% | -$8.9M-12.1% | -$7.9M-149.3% | -$3.2M+15.7% | -$3.8M+22.3% | -$4.8M+5.6% | -$5.1M |
| Capital Expenditures | $6.1M+155.9% | $2.4M-23.8% | $3.1M+75.0% | $1.8M-22.1% | $2.3M+74.6% | $1.3M-70.5% | $4.5M+71.0% | $2.6M |
| Free Cash Flow | -$23.9M-18.0% | -$20.2M-68.7% | -$12.0M-23.8% | -$9.7M-77.0% | -$5.5M-7.8% | -$5.1M+45.5% | -$9.3M-20.4% | -$7.7M |
| Investing Cash Flow | -$97.2M-29.3% | -$75.2M-4897.4% | -$1.5M+95.3% | -$31.7M-1245.8% | -$2.4M+21.9% | -$3.0M+32.7% | -$4.5M-71.0% | -$2.6M |
| Financing Cash Flow | $43.2M-83.7% | $264.1M+365.8% | $56.7M+11.2% | $51.0M+22769.2% | -$225K-101.3% | $17.7M-45.4% | $32.4M+166.9% | $12.2M |
| Dividends Paid | N/A | $0 | $0 | N/A | N/A | $341 | $0-100.0% | $2.8M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ASPI Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.9%+27.4pp | 12.5%+3.9pp | 8.6%-39.1pp | 47.7%+18.1pp | 29.7%-21.0pp | 50.7%+23.7pp | 27.0%-14.2pp | 41.2% |
| Operating Margin | -595.4%-445.2pp | -150.2%+155.9pp | -306.1%+692.7pp | -998.8%-277.2pp | -721.6%-80.9pp | -640.7%-141.2pp | -499.5%+229.9pp | -729.5% |
| Net Margin | -170.4%+209.8pp | -380.2%-116.5pp | -263.7%+6008.1pp | -6271.8%-5504.0pp | -767.8%+4.7pp | -772.5%-96.3pp | -676.2%+192.5pp | -868.8% |
| Return on Equity | -2.5%+28.6pp | -31.0%-13.6pp | -17.4%+280.4pp | -297.9%-278.0pp | -19.9%-0.6pp | -19.3%-0.2pp | -19.0%+61.7pp | -80.7% |
| Return on Assets | -1.2%+11.5pp | -12.7%-7.0pp | -5.7%+49.6pp | -55.3%-46.0pp | -9.3%+0.5pp | -9.8%-1.0pp | -8.7%+7.5pp | -16.2% |
| Current Ratio | 4.39-7.8 | 12.23+6.1 | 6.14-8.6 | 14.72+7.5 | 7.21-2.1 | 9.31+1.8 | 7.55+3.5 | 4.00 |
| Debt-to-Equity | 0.02+0.0 | 0.01-0.0 | 0.02-4.2 | 4.26+3.2 | 1.06+1.0 | 0.03-1.1 | 1.09-2.6 | 3.67 |
| FCF Margin | -571.7%-450.1pp | -121.5%+124.0pp | -245.5%+563.9pp | -809.4%-312.3pp | -497.2%-71.3pp | -425.8%+431.5pp | -857.3%-99.5pp | -757.8% |
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Frequently Asked Questions
What is ASP Isotopes's annual revenue?
ASP Isotopes (ASPI) reported $23.8M in total revenue for fiscal year 2025. This represents a 475.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is ASP Isotopes's revenue growing?
ASP Isotopes (ASPI) revenue grew by 475.5% year-over-year, from $4.1M to $23.8M in fiscal year 2025.
Is ASP Isotopes profitable?
No, ASP Isotopes (ASPI) reported a net income of -$159.8M in fiscal year 2025, with a net profit margin of -670.2%.
What is ASP Isotopes's EBITDA?
ASP Isotopes (ASPI) had EBITDA of -$58.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does ASP Isotopes have?
As of fiscal year 2025, ASP Isotopes (ASPI) had $279.6M in cash and equivalents against $1.5M in long-term debt.
What is ASP Isotopes's gross margin?
ASP Isotopes (ASPI) had a gross margin of 14.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is ASP Isotopes's operating margin?
ASP Isotopes (ASPI) had an operating margin of -251.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is ASP Isotopes's net profit margin?
ASP Isotopes (ASPI) had a net profit margin of -670.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is ASP Isotopes's return on equity (ROE)?
ASP Isotopes (ASPI) has a return on equity of -78.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is ASP Isotopes's free cash flow?
ASP Isotopes (ASPI) generated -$47.4M in free cash flow during fiscal year 2025. This represents a -79.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is ASP Isotopes's operating cash flow?
ASP Isotopes (ASPI) generated -$37.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are ASP Isotopes's total assets?
ASP Isotopes (ASPI) had $498.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are ASP Isotopes's capital expenditures?
ASP Isotopes (ASPI) invested $9.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does ASP Isotopes spend on research and development?
ASP Isotopes (ASPI) invested $12.4M in research and development during fiscal year 2025.
What is ASP Isotopes's current ratio?
ASP Isotopes (ASPI) had a current ratio of 12.23 as of fiscal year 2025, which is generally considered healthy.
What is ASP Isotopes's debt-to-equity ratio?
ASP Isotopes (ASPI) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is ASP Isotopes's return on assets (ROA)?
ASP Isotopes (ASPI) had a return on assets of -32.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is ASP Isotopes's cash runway?
Based on fiscal year 2025 data, ASP Isotopes (ASPI) had $279.6M in cash against an annual operating cash burn of $37.8M. This gives an estimated cash runway of approximately 89 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is ASP Isotopes's Piotroski F-Score?
ASP Isotopes (ASPI) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are ASP Isotopes's earnings high quality?
ASP Isotopes (ASPI) has an earnings quality ratio of 0.24x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can ASP Isotopes cover its interest payments?
ASP Isotopes (ASPI) has an interest coverage ratio of -6388.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is ASP Isotopes?
ASP Isotopes (ASPI) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.