Aspen Aerogels Inc Stock Price, News & Analysis

Aspen Aerogels (NYSE: ASPN) reported strong financial results for Q4 and FY 2024. The company achieved $452.7 million in FY 2024 revenue, a 90% year-over-year increase, with gross margins growing to 40%. Q4 revenue reached $123.1 million, up 46% YoY, including record Energy Industrial revenue of $53.1 million.

The company reported net income of $13.4 million for FY 2024 (including a $27.5 million one-time charge) and Adjusted EBITDA of $89.9 million. Q4 delivered net income of $11.4 million and generated $20.9 million in free cash flow. The company ended 2024 with $220.9 million in cash.

Aspen secured a new PyroThin® Thermal Barrier contract with Volvo Truck and announced plans to halt construction of its Statesboro plant, opting instead to maximize capacity at existing facilities. For Q1 2025, the company projects revenue between $75-95 million with Adjusted EBITDA ranging from breakeven to $15 million.

Aspen Aerogels (NYSE: ASPN) has announced a settlement agreement with AMA S.p.A. and AMA Composites S.r.l. to resolve their patent dispute in the Court of Genoa, Italy. The legal action concerned the unauthorized sale of infringing aerogel insulation materials in Europe.

The settlement acknowledges Aspen's innovations in developing high-performance insulation solutions. The company reaffirms its commitment to protecting intellectual property rights globally and promoting fair competition in the marketplace.

Aspen Aerogels (NYSE: ASPN) has announced its upcoming fourth quarter and fiscal year 2024 earnings release schedule. The company will release its financial results on Wednesday, February 12, 2025, after market close, followed by a conference call on Thursday, February 13, 2025, at 8:30 a.m. ET.

President & CEO Don Young and CFO & Treasurer Ricardo C. Rodriguez will lead the conference call. Participants can join by dialing +1 (404) 975-4839 (domestic) or +1 (929) 526-1599 (international) with conference ID '890624'. A live webcast with accompanying slides will be available on the Investors section of Aspen's website, with a replay accessible for approximately one year.

Aspen Aerogels (NYSE: ASPN), a technology leader in sustainability and electrification solutions, announces its participation in four major investor events during Q4 2024. The company will attend the Craig-Hallum Alpha Select Conference and Bernstein Industrials Forum on November 19, the Barclays Global Automotive and Mobility Tech Conference on November 20, and the Janney Clean Energy Investment Symposium on December 5. CFO Ricardo Rodriguez and IR Director Neal Baranosky will host one-on-one meetings with investors at all events. Additionally, Rodriguez will participate in a Fireside Chat at the Barclays conference on November 20 at 1:00 PM ET, which will be available via webcast.

Aspen Aerogels (NYSE: ASPN) reported strong Q3 2024 results with revenue of $117.3 million, up 93% year-over-year, led by $90.6 million in Thermal Barrier revenue. The company posted a net loss of $13.0 million, including a $27.5 million one-time charge from convertible note redemption. Gross margins improved to 42%, and Adjusted EBITDA reached $25.4 million.

The company secured significant financing, including a $125 million term loan facility and a conditional commitment from the U.S. Department of Energy for up to $670.6 million. Aspen raised its 2024 outlook to $450 million in revenue, $9 million in net income, and $90 million in Adjusted EBITDA.

Aspen Aerogels, Inc. (NYSE: ASPN) has announced the pricing of a public offering of 4,250,000 shares of its common stock at $20.00 per share. The company expects to raise approximately $85 million in gross proceeds, before deducting underwriting discounts and expenses. Aspen has also granted the underwriters a 30-day option to purchase up to an additional 637,500 shares at the same price.

The offering is set to close on October 23, 2024, subject to customary conditions. Aspen plans to use the net proceeds for working capital, capital expenditures, and general corporate purposes. Goldman Sachs & Co. and Morgan Stanley are acting as joint book-running managers for the offering, which is being made pursuant to a shelf registration statement on Form S-3 filed with the SEC.

Aspen Aerogels (NYSE: ASPN), a technology leader in sustainability and electrification solutions, has announced a public offering of 4,250,000 shares of its common stock. The company plans to grant underwriters a 30-day option to purchase up to an additional 637,500 shares. Goldman Sachs & Co. and Morgan Stanley are acting as joint book-running managers for the offering.

Aspen intends to use the net proceeds for working capital, capital expenditures, and general corporate purposes. The offering is being made pursuant to a shelf registration statement on Form S-3 filed with the SEC. A preliminary prospectus supplement and accompanying prospectus will be available on the SEC's website.

Aspen Aerogels (NYSE: ASPN) has received a conditional commitment from the U.S. Department of Energy for a proposed loan of up to $670.6 million to finance the construction of its second aerogel manufacturing facility in Register, Georgia. The loan, structured as project financing, would fully fund the remaining CAPEX needed to complete the plant. The Register Plant is designed to manufacture PyroThin® aerogel blankets, with an estimated revenue capacity of $1.2B - $1.6B.

Additionally, Aspen announced Q3 2024 preliminary financial results, including revenue of approximately $117 million, a net loss of about $13 million, and Adjusted EBITDA of approximately $25 million. The company's cash and cash equivalents were approximately $113 million as of September 30, 2024.

Aspen Aerogels (NYSE: ASPN) has secured a $125 million term loan and a $100 million revolving credit facility with MidCap Financial. The collateral structure excludes assets related to Aspen's planned second aerogel manufacturing facility in Statesboro, Georgia. Proceeds will be used to fully redeem the company's legacy convertible note and support general corporate purposes. The term loan matures on August 19, 2029.

This transaction aims to reduce Aspen's cost of capital and provide financing flexibility. The collateral structure is optimized to fit into the anticipated structure of a potential debt option for accelerating the construction of the second manufacturing facility. Management views this as a step towards further reducing capital costs and accessing additional liquidity to support profitable revenue growth.