Welcome to our dedicated page for Aspen Aerogels SEC filings (Ticker: ASPN), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Aspen Aerogels, Inc. (NYSE: ASPN) SEC filings page on Stock Titan provides access to the company’s official disclosures filed with the U.S. Securities and Exchange Commission. These documents include current reports on Form 8‑K, annual reports on Form 10‑K, quarterly reports on Form 10‑Q, and other materials that describe Aspen’s financial condition, risk factors, governance, and key business developments.
For Aspen, which describes itself as a technology leader in sustainability, electrification solutions, and thermal management, Form 10‑K and 10‑Q filings are central sources for understanding segment performance in its Energy Industrial and Thermal Barrier businesses, the role of products such as PyroThin, Cryogel, and Pyrogel, and the company’s exposure to EV and energy infrastructure markets. These reports also reference non‑GAAP measures like Adjusted EBITDA, along with reconciliations to GAAP metrics.
Recent Form 8‑K filings have documented material events such as amendments to Aspen’s Credit, Security and Guaranty Agreement with MidCap Financial, including changes to minimum liquidity covenants, removal of a minimum EBITDA maintenance covenant, and clarifications on mandatory prepayments and acquisition baskets. Other 8‑K filings describe quarterly earnings announcements, financial outlook updates, and executive employment agreements, such as the promotion of an internal successor to Chief Financial Officer and Treasurer.
On Stock Titan, AI‑powered tools can help interpret these filings by summarizing lengthy sections, highlighting covenant changes, and explaining the implications of items like restructuring charges, liquidity thresholds, or executive compensation terms. Users can quickly locate 10‑K and 10‑Q reports for detailed financial data, review Form 4 insider transaction filings when available, and track how Aspen’s disclosures evolve over time in response to conditions in EV and energy infrastructure markets.
This page is a practical starting point for investors, analysts, and researchers who want a structured view of Aspen Aerogels’ regulatory history and the key contractual and governance information disclosed through its SEC filings.
Aspen Aerogels reported a sharp downturn in 2025 results and launched a strategic review. Fourth-quarter 2025 revenue was $41.3 million, down from $123.1 million a year earlier, with thermal barrier and energy industrial segments both significantly lower. The quarter swung to a net loss of $72.9 million versus net income of $11.4 million, reflecting restructuring, asset disposals, impairments and accelerated depreciation; adjusted net loss was $27.7 million and Adjusted EBITDA was $(18.0) million.
For full year 2025, revenue fell to $271.1 million from $452.7 million, and Aspen recorded a net loss of $389.6 million, including a $291.2 million impairment tied to the previously planned Statesboro plant; adjusted net loss was $40.5 million and Adjusted EBITDA was $2.9 million, down from $89.9 million. The company ended 2025 with $158.6 million in cash, generated $32.9 million of operating cash flow, expects about $37.6 million from a GM commercial settlement in Q1 2026, and signed a non-binding LOI to sell Statesboro assets. Aspen initiated a strategic review with Piper Sandler to evaluate options for its long-term competitive position and guided Q1 2026 revenue to $35–$40 million with a projected net loss of $20–$23 million and Adjusted EBITDA between $(10) million and $(13) million.
Needham Investment Management L.L.C., Needham Asset Management, LLC, and George A. Needham report a passive 5.3% ownership stake in Aspen Aerogels Inc. They collectively report beneficial ownership of 4,351,700 shares of Aspen Aerogels common stock, with shared voting and dispositive power over all reported shares and no sole authority.
All of the securities are directly owned by advisory clients of Needham Investment Management L.L.C., and no individual client is described as holding more than 5% of the common stock. The filing states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Aspen Aerogels.
Aspen Aerogels filed an amended insider ownership report for its CFO and Treasurer following an equity grant. On October 1, 2025, the officer acquired 10,273 restricted stock units (RSUs) of common stock at a price of $0 per unit, reflecting a compensation award rather than an open-market purchase.
Each RSU represents one share of common stock and vests in three equal installments: one-third on March 5, 2026, one-third on March 5, 2027, and the final third on March 5, 2028. After correcting prior figures, the filing states the officer beneficially owns 25,392 share-based interests, consisting of 4,608 shares of common stock and 20,784 RSUs. The amendment explains that an earlier report had omitted 10,511 RSUs that were granted before the October 1, 2025 transaction date.
Aspen Aerogels filed an amended insider ownership report for its CFO and Treasurer. The filing shows that the officer beneficially owns 15,119 shares of common stock, including 4,608 shares of common stock and 10,511 restricted stock units (RSUs). The RSUs were granted on March 8, 2023, March 5, 2024, and March 5, 2025, with various time-based vesting schedules extending through March 5, 2028. The amendment clarifies that these unvested RSUs had been inadvertently omitted from the reporting person’s original filing.
Aspen Aerogels, Inc. disclosed that on
The changes also clarify that mandatory prepayments from asset sale proceeds will reduce scheduled amortization payments in direct order of maturity and reduce the basket for permitted acquisitions under the facility. Aspen Aerogels furnished a press release describing the amendment as an exhibit to this report.
Aspen Aerogels (ASPN) reported an insider transaction by its President and CEO (also a Director). On 11/13/2025, the reporting person sold 56,845 shares of common stock (Transaction Code S) under a pre‑arranged Rule 10b5‑1 trading plan. The plan was adopted on August 11, 2025 to sell a limited number of shares for tax purposes related to a one-time personal real estate transaction.
The sale price reflected a weighted average of $3.23, with trades executed between $3.15 and $3.41. Following the transaction, the reporting person beneficially owns 494,011 equity units, comprising 414,306 shares of common stock and 79,705 restricted stock units. Ownership is reported as Direct (D). The filing includes Exhibit 24.1 (Power of Attorney) and was signed by Attorney‑in‑Fact Glenn Deegan on 11/14/2025.
ASPN filed a Form 144 notice for a proposed sale of 56,845 shares of Common stock through Morgan Stanley Smith Barney LLC, listing an aggregate market value of $194,978.35. The filing lists an approximate sale date of November 13, 2025 on the NYSE.
The shares were acquired on May 28, 2024 via previously exercised stock options from the issuer, with payment made in cash on the same date. Shares outstanding were 82,647,081; this is a baseline figure, not the amount being sold.
Aspen Aerogels (ASPN) filed its Q3 2025 10‑Q, showing a sharp year-over-year contraction. Q3 revenue was $73,017, down from $117,340, with gross profit of $20,799 versus $49,043. The quarter swung to an operating loss of $3,348 and a net loss of $6,334.
For the nine months, revenue was $229,764 versus $329,611 last year, and net loss reached $316,639, primarily due to a $287,567 impairment tied to ceasing construction of the Statesboro, Georgia plant. Total assets fell to $491,395 from $895,144 at year-end, while stockholders’ equity declined to $305,733.
Cash and cash equivalents were $150,722. Debt included a term loan of $99,000 and a revolving balance of $14,252; availability under the revolver was $26.8 million. Two customers represented 72% of year-to-date revenue, and one customer accounted for 69% of accounts receivable. Management states it is in compliance with amended MidCap covenants as of September 30, 2025, but notes no assurance of compliance at the end of Q4 2025.
Aspen Aerogels, Inc. (ASPN) furnished an update on its business by announcing financial results for the third quarter of 2025, for the period ended September 30, 2025. The company attached a detailed press release as Exhibit 99.1.
Information about results is furnished under Item 2.02, while “2025 Financial Outlook” and company background are furnished under Item 7.01. The materials are being furnished, not filed, under the Exchange Act.
Grant Douglas Thoele, CFO & Treasurer of Aspen Aerogels, reported changes in beneficial ownership on 10/01/2025. He was granted 10,273 restricted stock units (RSUs) that convert to one share each upon vesting and now beneficially owns 14,881 shares (comprised of 4,608 currently held shares plus the 10,273 RSUs). He also received 14,563 stock options with a $7.30 exercise price exercisable through 10/01/2035, and 20,547 performance share units (PSUs) that vest after the performance period ending 12/31/2027 and may pay out between 0–200% of target based on Aspen’s total shareholder return versus the Russell 2000. The RSUs and options vest in three equal annual tranches beginning 3/5/2026. The Form 4 was signed by an attorney-in-fact on 10/03/2025.