Aspen Aerogels Inc Stock Price, News & Analysis

Aspen Aerogels (NYSE: ASPN) announced on June 29, 2022, that it will not proceed with the planned public offerings of its common stock and green convertible senior notes due 2027, originally announced on June 28, 2022. The company made this decision due to unfavorable market conditions that do not align with the best interests of its shareholders. No shares or notes will be sold as a result. The offerings were to be conducted under an effective shelf registration statement filed with the SEC.

Aspen Aerogels (NYSE: ASPN) announced plans for $225 million in common stock and $150 million in green convertible senior notes due 2027. The offerings will be registered under the Securities Act and will include a 30-day option for underwriters to purchase up to 15% more securities. Proceeds will be used for capital projects, including a new aerogel manufacturing facility in Georgia, and for general corporate purposes. The offerings are subject to market conditions.

Aspen Aerogels (ASPN) announced an updated financial outlook for 2022, significantly increasing thermal barrier revenue expectations from $18 million to between $52 million and $62 million, driven by demand from General Motors and Toyota. Overall revenue is projected at $180 million to $200 million, reflecting strong growth in the energy industrial demand book. However, net loss is expected to rise to $79.8 million to $86.8 million, attributed to higher material costs. Aspen is advancing the construction of its Plant II in Georgia and a high-volume thermal barrier facility in Mexico, with capital expenditures projected at $650 million to $750 million.

Aspen Aerogels, Inc. has appointed Virginia H. Johnson as Chief Legal Officer, General Counsel, and Corporate Secretary, effective May 19, 2022. With over 20 years of legal experience, Johnson previously served as General Counsel at Schneider Electric North America and held senior roles at Global Atlantic Financial Group. Her expertise in corporate strategy and legal operations aligns with Aspen's focus on sustainability and diversity. Aspen aims to leverage her leadership to enhance its growth and innovation in sustainability solutions, particularly in electrification and resource efficiency.

Aspen Aerogels (NYSE: ASPN) announced its participation in several investor events during May 2022, including the Water Tower Research Fireside Chat and the Oppenheimer Emerging Growth Conference. Key executives, including CEO Donald R. Young and CFO Ricardo C. Rodriguez, will engage in discussions about the company's quarterly earnings and future outlook. Events are virtual, and materials will be accessible on Aspen's Investor Relations website. Notable dates include May 4 for the Fireside Chat and May 10 for the Oppenheimer Conference.

Aspen Aerogels (ASPN) reported a 37% revenue growth for Q1 2022, totaling $38.4 million, up from $28.1 million year-over-year. However, net loss widened to $19.5 million, with net loss per share at $0.59. Aspen strengthened its balance sheet through a $150 million financing from Koch Strategic Platforms and raised $23.6 million via an equity offering. The 2022 revenue outlook remains unchanged, estimating between $145 million and $155 million. Management anticipates doubling revenue from 2021 to 2023 and tripling it by 2025.

Aspen Aerogels, Inc. (NYSE: ASPN) is set to disclose its financial results for Q1 2022 on April 28, 2022, ahead of a conference call at 8:30 a.m. EDT. The call will be hosted by CEO Don Young and CFO Ricardo Rodriguez. Participants can dial in or join via a live webcast on Aspen's investor website. The company focuses on sustainability through its aerogel technology, providing solutions in thermal management for electric vehicles and energy storage, and manufacturing high-efficiency materials for the construction industry.

Aspen Aerogels, a leader in aerogel technology, announced its participation in the 39th Annual International Battery Seminar & Exhibit on March 28-31, 2022, in Orlando, FL. Vice President John Williams will present on battery safety, specifically focusing on thermal propagation. He aims to address the need for systems that stop thermal runaway in electric vehicles. Aspen will also host a booth during the event, showcasing its aerogel-based solutions for energy storage and sustainability.