What is Ascent Solar Tec's earnings per share (EPS)?

Ascent Solar Tec (ASTI) reported diluted earnings per share of $-3.09 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ascent Solar Tec Financials

ASTI

Source SEC Filings (10-K/10-Q) Updated May 8, 2026 Currency USD FYE December

This page shows Ascent Solar Tec (ASTI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 20 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).

Rhea AI ASTI FY2025 2026-05-08

ASTI is operating as a cash-funded development program, with operating burn far larger than current revenue.

Across the last two years, operating cash outflow stayed within roughly $1M of net loss in each period, so the reported losses were mostly cash losses rather than accounting noise. Financing inflows of $6.6M followed a larger $10.5M a year earlier, which shows day-to-day operations are still being financed externally rather than by customers.

Revenue was just $77K in FY2025, while combined SG&A plus R&D stayed above $6.5M. That cost base still looks like a platform being maintained ahead of commercialization rather than a business scaled by sales, and negative gross profit means added volume does not yet ease the burn.

The balance sheet is less strained than it was in FY2023, with the current ratio recovering from 0.3x to 1.5x by FY2025. Debt-to-equity also slipped below 1.0x, but that sturdier working-capital posture reflects repeated financing inflows more than internally generated cash.

Financial Health Signals

Financial Profile 18/100

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 Ascent Solar Tec'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.

Profitability

Ascent Solar Tec has an operating margin of -10256.7%, meaning the company retains $-10257 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 -20378.5% the prior year.

Growth

Ascent Solar Tec's revenue surged 83.3% year-over-year to $77K, reflecting rapid business expansion. This strong growth earns a score of 0/100.

Leverage

Ascent Solar Tec carries a low D/E ratio of 0.90, meaning only $0.90 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Ascent Solar Tec's current ratio of 1.53 is below the typical benchmark, resulting in a score of 26/100. However, the company holds substantial cash reserves (126% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Cash Flow

While Ascent Solar Tec generated -$6.9M in operating cash flow, capex of $32K consumed most of it, leaving -$6.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Ascent Solar Tec generates a -236.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -271.1% the prior year.

Piotroski F-Score Neutral

4/9

Ascent Solar Tec passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.87x

For every $1 of reported earnings, Ascent Solar Tec generates $0.87 in operating cash flow (-$6.9M OCF vs -$7.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$77K

YoY+83.3%

5Y CAGR+2.9%

10Y CAGR-35.9%

Ascent Solar Tec generated $77K in revenue in fiscal year 2025. This represents an increase of 83.3% from the prior year.

EBITDA

-$7.8M

YoY+7.9%

Ascent Solar Tec's EBITDA was -$7.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 7.9% from the prior year.

Net Income

-$7.9M

YoY+13.8%

Ascent Solar Tec reported -$7.9M in net income in fiscal year 2025. This represents an increase of 13.8% from the prior year.

EPS (Diluted)

$-3.09

Ascent Solar Tec earned $-3.09 per diluted share (EPS) in fiscal year 2025. This represents an increase of 70.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$6.9M

YoY+17.7%

Ascent Solar Tec generated -$6.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 17.7% from the prior year.

Cash & Debt

$2.8M

YoY-12.1%

5Y CAGR+75.4%

10Y CAGR+23.9%

Ascent Solar Tec held $2.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

Ascent Solar Tec had 5M shares outstanding in fiscal year 2025. This represents an increase of 220.4% from the prior year.

Margins & Returns

Gross Margin

-155.7%

YoY+98.4pp

5Y CAGR+6.4pp

Ascent Solar Tec's gross margin was -155.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 98.4 percentage points from the prior year.

Operating Margin

-10256.7%

YoY+10121.8pp

5Y CAGR-6571.9pp

10Y CAGR-9832.3pp

Ascent Solar Tec's operating margin was -10256.7% in fiscal year 2025, reflecting core business profitability. This is up 10121.8 percentage points from the prior year.

Net Margin

-10288.4%

YoY+11585.4pp

5Y CAGR-12716.5pp

10Y CAGR-9587.8pp

Ascent Solar Tec's net profit margin was -10288.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 11585.4 percentage points from the prior year.

Return on Equity

-236.6%

YoY+34.5pp

10Y CAGR+1539.4pp

Ascent Solar Tec's ROE was -236.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 34.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$2.4M

YoY+6.2%

5Y CAGR+16.0%

10Y CAGR-9.6%

Ascent Solar Tec invested $2.4M in research and development in fiscal year 2025. This represents an increase of 6.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$32K

YoY+7504.5%

10Y CAGR+0.9%

Ascent Solar Tec invested $32K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 7504.5% from the prior year.

ASTI Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$77K+83.3%	$42K-90.9%	$458K-62.5%	$1.2M+101.2%	$608K+812.4%	$67K
Cost of Revenue	$196K+32.3%	$148K-92.2%	$1.9M-5.9%	$2.0M+5.7%	$1.9M+989.7%	$175K
Gross Profit	-$120K-12.3%	-$106K+92.6%	-$1.4M-81.8%	-$789K+39.1%	-$1.3M-1099.0%	-$108K
R&D Expenses	$2.4M+6.2%	$2.3M-28.6%	$3.2M-46.1%	$6.0M+44.3%	$4.1M+255.3%	$1.2M
SG&A Expenses	$4.1M-9.1%	$4.5M-16.0%	$5.4M+13.3%	$4.7M+43.6%	$3.3M+220.3%	$1.0M
Operating Income	-$7.9M+7.8%	-$8.5M+45.4%	-$15.6M+8.3%	-$17.1M-94.0%	-$8.8M-258.1%	-$2.5M
Interest Expense	N/A	N/A	N/A	N/A	$476K+8.6%	$438K
Income Tax	$0	N/A	N/A	N/A	N/A	N/A
Net Income	-$7.9M+13.8%	-$9.2M+46.3%	-$17.1M+13.6%	-$19.8M-229.2%	-$6.0M-471.0%	$1.6M
EPS (Diluted)	$-3.09	$-10.38+99.7%	$-3419.00-2490.2%	$-132.00	$-1.54-581.3%	$0.32

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$29K+85.1%	$16K-45.2%	$29K+68.3%	$17K+8.6%	$16K	$0-100.0%	$9K-69.2%	$28K
Cost of Revenue	$71K+29.5%	$55K-38.6%	$89K+211.1%	$29K+18.6%	$24K+3510.0%	$668-99.1%	$77K+24.8%	$62K
Gross Profit	-$42K-7.2%	-$39K+35.5%	-$60K-418.9%	-$12K-37.2%	-$8K-1171.1%	-$668+99.0%	-$68K-102.0%	-$34K
R&D Expenses	$694K+8.3%	$641K+3.3%	$621K-0.4%	$623K+11.5%	$559K-4.4%	$584K-3.2%	$604K+19.3%	$506K
SG&A Expenses	$1.4M+29.7%	$1.1M+10.7%	$1.0M-2.8%	$1.0M+8.6%	$951K+53.9%	$618K-49.2%	$1.2M-24.5%	$1.6M
Operating Income	-$2.3M-9.2%	-$2.1M-5.3%	-$2.0M+5.8%	-$2.1M-19.6%	-$1.7M-20.8%	-$1.4M+36.1%	-$2.3M+4.0%	-$2.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$463
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$2.2M-1.9%	-$2.1M-5.7%	-$2.0M+2.1%	-$2.1M-23.4%	-$1.7M-12.4%	-$1.5M+11.9%	-$1.7M+50.9%	-$3.4M
EPS (Diluted)	$-0.27	N/A	$-0.62+47.0%	$-1.17-3.5%	$-1.13	N/A	$-1.37+79.7%	$-6.76

ASTI Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$6.3M-11.4%	$7.1M+13.5%	$6.3M-66.3%	$18.7M+45.4%	$12.8M+74.3%	$7.4M
Current Assets	$3.4M-8.9%	$3.7M+141.8%	$1.5M-87.7%	$12.4M+81.6%	$6.9M+779.1%	$779K
Cash & Equivalents	$2.8M-12.1%	$3.2M+202.3%	$1.0M-90.9%	$11.5M+92.6%	$6.0M+3454.5%	$168K
Inventory	$544K+20.0%	$453K+1.3%	$447K-27.3%	$615K+3.9%	$592K+10.8%	$534K
Accounts Receivable	$0	$0	$0-100.0%	$2K-96.4%	$49K+789.1%	$6K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.0M-20.5%	$3.8M-51.9%	$7.8M-44.5%	$14.1M-10.1%	$15.7M-43.1%	$27.6M
Current Liabilities	$2.2M-3.3%	$2.3M-60.4%	$5.8M+15.8%	$5.0M+63.0%	$3.1M-66.7%	$9.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.3M-1.2%	$3.4M+321.4%	-$1.5M-269.8%	$899K+131.7%	-$2.8M+86.0%	-$20.2M
Retained Earnings	-$499.4M-1.6%	-$491.6M-1.9%	-$482.5M-7.8%	-$447.5M-4.6%	-$427.8M-1.4%	-$421.8M

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	N/A	$6.3M+9.8%	$5.8M-15.1%	$6.8M+10.0%	$6.2M-13.6%	$7.1M-9.7%	$7.9M-22.1%	$10.2M
Current Assets	N/A	$3.4M+27.4%	$2.7M-26.3%	$3.6M+26.1%	$2.9M-23.0%	$3.7M-14.0%	$4.3M-32.7%	$6.4M
Cash & Equivalents	N/A	$2.8M+33.1%	$2.1M-29.1%	$3.0M+31.0%	$2.3M-28.9%	$3.2M-14.8%	$3.7M-35.7%	$5.8M
Inventory	N/A	$544K+22.9%	$442K-3.4%	$458K+1.8%	$450K-0.7%	$453K-1.0%	$458K-0.6%	$461K
Accounts Receivable	N/A	$0	$0-100.0%	$13K	$0	$0-100.0%	$4K-80.9%	$22K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	N/A	$3.0M-4.0%	$3.1M-7.1%	$3.4M-6.6%	$3.6M-4.5%	$3.8M-66.5%	$11.2M+87.2%	$6.0M
Current Liabilities	N/A	$2.2M+2.5%	$2.2M-3.1%	$2.2M-3.1%	$2.3M+0.5%	$2.3M-22.8%	$3.0M-30.0%	$4.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	N/A	$3.3M+25.9%	$2.7M-22.8%	$3.4M+33.2%	$2.6M-23.7%	$3.4M+201.6%	-$3.3M-180.1%	$4.2M
Retained Earnings	N/A	-$499.4M-0.4%	-$497.4M-0.4%	-$495.3M-0.4%	-$493.3M-0.3%	-$491.6M-0.3%	-$490.2M-0.3%	-$488.5M

ASTI Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$6.9M+18.0%	-$8.4M+11.7%	-$9.5M+9.2%	-$10.5M-11.7%	-$9.4M-226.0%	-$2.9M
Capital Expenditures	$32K+7504.5%	$421-100.0%	$3.9M+2177.9%	$169K-39.6%	$280K	N/A
Free Cash Flow	-$6.9M+17.7%	-$8.4M+37.1%	-$13.4M-25.5%	-$10.7M-10.2%	-$9.7M	N/A
Investing Cash Flow	-$107K-25319.2%	-$421+100.0%	-$3.9M-1360.6%	-$265K+12.0%	-$302K-218.5%	$254K
Financing Cash Flow	$6.6M-37.2%	$10.5M+256.0%	$3.0M-81.8%	$16.3M+5.1%	$15.5M+453.9%	$2.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$2.0M-11.8%	-$1.8M-4.1%	-$1.7M+4.2%	-$1.8M-16.9%	-$1.6M-1.5%	-$1.5M+25.6%	-$2.1M+43.8%	-$3.6M
Capital Expenditures	$483	$0-100.0%	$30K+1351.8%	$2K+320.7%	$483	$0	N/A	N/A
Free Cash Flow	-$2.0M-11.8%	-$1.8M-2.4%	-$1.8M+2.7%	-$1.8M-17.0%	-$1.6M-1.6%	-$1.5M	N/A	N/A
Investing Cash Flow	-$200K	$0+100.0%	-$105K-5042.7%	-$2K-320.7%	-$483	$0	N/A	N/A
Financing Cash Flow	$15.5M+520.4%	$2.5M+155.2%	$979K-61.0%	$2.5M+295.3%	$636K-34.9%	$976K+7969.7%	-$12K-100.1%	$9.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ASTI Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	-155.7%+98.4pp	-254.2%+58.8pp	-312.9%-248.4pp	-64.5%+148.5pp	-213.0%-50.9pp	-162.1%
Operating Margin	-10256.7%+10121.8pp	-20378.5%-16964.8pp	-3413.6%-2018.8pp	-1394.8%+51.5pp	-1446.3%+2238.5pp	-3684.8%
Net Margin	-10288.4%+11585.4pp	-21873.8%-18148.8pp	-3724.9%-2109.4pp	-1615.5%-628.4pp	-987.2%-3415.3pp	2428.1%
Return on Equity	-236.6%+34.5pp	-271.1%	N/A	-2196.7%	N/A	N/A
Return on Assets	-124.7%+3.5pp	-128.2%+142.8pp	-271.0%-165.2pp	-105.8%-59.1pp	-46.7%-68.6pp	21.9%
Current Ratio	1.53-0.1	1.63+1.4	0.27-2.2	2.50+0.3	2.25+2.2	0.09
Debt-to-Equity	0.90-0.2	1.11+6.2	-5.13-20.8	15.67+21.2	-5.53-4.2	-1.37
FCF Margin	-9034.4%+11073.9pp	-20108.3%-17185.4pp	-2922.9%-2049.9pp	-873.1%+720.4pp	-1593.5%	N/A

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	-144.4%+104.8pp	-249.2%-37.5pp	-211.7%-143.0pp	-68.7%-14.3pp	-54.4%	N/A	-798.2%-676.4pp	-121.8%
Operating Margin	-7816.6%+5427.2pp	-13243.9%-6351.6pp	-6892.3%+5424.5pp	-12316.8%-1138.9pp	-11177.9%	N/A	-26443.2%-17952.5pp	-8490.7%
Net Margin	-7522.0%+6144.9pp	-13666.9%-6585.6pp	-7081.3%+5096.0pp	-12177.3%-1461.2pp	-10716.2%	N/A	-19776.2%-7355.7pp	-12420.5%
Return on Equity	N/A	-64.0%+12.2pp	-76.3%-16.1pp	-60.1%+4.8pp	-65.0%-20.9pp	-44.1%	N/A	-83.0%
Return on Assets	N/A	-33.8%+1.3pp	-35.0%-4.6pp	-30.4%-3.3pp	-27.1%-6.3pp	-20.8%+0.5pp	-21.4%+12.6pp	-33.9%
Current Ratio	N/A	1.53+0.3	1.23-0.4	1.62+0.4	1.25-0.4	1.63+0.2	1.46-0.1	1.52
Debt-to-Equity	N/A	0.90-0.3	1.18+0.2	0.98-0.4	1.40+0.3	1.11+4.5	-3.38-4.8	1.45
FCF Margin	-6981.5%+4572.2pp	-11553.7%-5371.2pp	-6182.5%+4510.0pp	-10692.4%-768.5pp	-9923.9%	N/A	N/A	N/A

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Frequently Asked Questions

What is Ascent Solar Tec's annual revenue?

Ascent Solar Tec (ASTI) reported $77K in total revenue for fiscal year 2025. This represents a 83.3% 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 Ascent Solar Tec's revenue growing?

Ascent Solar Tec (ASTI) revenue grew by 83.3% year-over-year, from $42K to $77K in fiscal year 2025.

Is Ascent Solar Tec profitable?

No, Ascent Solar Tec (ASTI) reported a net income of -$7.9M in fiscal year 2025, with a net profit margin of -10288.4%.

What is Ascent Solar Tec's EBITDA?

Ascent Solar Tec (ASTI) had EBITDA of -$7.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Ascent Solar Tec's gross margin?

Ascent Solar Tec (ASTI) had a gross margin of -155.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Ascent Solar Tec's operating margin?

Ascent Solar Tec (ASTI) had an operating margin of -10256.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Ascent Solar Tec's net profit margin?

Ascent Solar Tec (ASTI) had a net profit margin of -10288.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Ascent Solar Tec's return on equity (ROE)?

Ascent Solar Tec (ASTI) has a return on equity of -236.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ascent Solar Tec's free cash flow?

Ascent Solar Tec (ASTI) generated -$6.9M in free cash flow during fiscal year 2025. This represents a 17.7% 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 Ascent Solar Tec's operating cash flow?

Ascent Solar Tec (ASTI) generated -$6.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ascent Solar Tec's total assets?

Ascent Solar Tec (ASTI) had $6.3M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Ascent Solar Tec's capital expenditures?

Ascent Solar Tec (ASTI) invested $32K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Ascent Solar Tec spend on research and development?

Ascent Solar Tec (ASTI) invested $2.4M in research and development during fiscal year 2025.

How many shares does Ascent Solar Tec have outstanding?

Ascent Solar Tec (ASTI) had 5M shares outstanding as of fiscal year 2025.

What is Ascent Solar Tec's current ratio?

Ascent Solar Tec (ASTI) had a current ratio of 1.53 as of fiscal year 2025, which is generally considered healthy.

What is Ascent Solar Tec's debt-to-equity ratio?

Ascent Solar Tec (ASTI) had a debt-to-equity ratio of 0.90 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ascent Solar Tec's return on assets (ROA)?

Ascent Solar Tec (ASTI) had a return on assets of -124.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ascent Solar Tec's cash runway?

Based on fiscal year 2025 data, Ascent Solar Tec (ASTI) had $2.8M in cash against an annual operating cash burn of $6.9M. This gives an estimated cash runway of approximately 5 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 Ascent Solar Tec's Piotroski F-Score?

Ascent Solar Tec (ASTI) has a Piotroski F-Score of 4 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 Ascent Solar Tec's earnings high quality?

Ascent Solar Tec (ASTI) has an earnings quality ratio of 0.87x, 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.

How financially healthy is Ascent Solar Tec?

Ascent Solar Tec (ASTI) scores 18 out of 100 on our Financial Profile, indicating weak 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.