Every 8-K that Aspen Aerogels, Inc. (ASPN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow ASPN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ASPN filings page.
Aspen Aerogels, Inc. (ASPN) furnished an investor presentation outlining its business profile, growth drivers and financial targets. The company reports $202 million in last-twelve-month revenue through Q2 2026, with $111 million from Thermal Barrier and $92 million from Energy Industrial.
The presentation states existing manufacturing and external supply arrangements support $600+ million of annual revenue capacity and long-term targets of 35% gross margin and 25% Adjusted EBITDA margin. Management indicates the Adjusted EBITDA breakeven revenue target has fallen about 47% and targets breakeven at about $175 million annualized revenue by year-end 2027.
Guidance for Q3 2026 includes a net loss between $6.0 million and $9.0 million, but a return to positive Adjusted EBITDA between $7.0 million and $15.0 million. Aspen also highlights a portfolio of about 400 granted and over 430 pending patents and a cash and equivalents balance of $153, supporting recovery and growth plans.
Aspen Aerogels reported second quarter 2026 revenue of $49.8 million, down from $78.0 million a year earlier, as Thermal Barrier and Energy Industrial sales declined year-over-year amid changes to North American EV regulatory frameworks. Thermal Barrier revenue was $29.5 million versus $55.2 million, while Energy Industrial revenue was $20.4 million versus $22.8 million. Net loss widened to $23.3 million (or $0.28 per share) from $9.1 million (or $0.11 per share), and Adjusted EBITDA moved to a loss of $(6.6) million from a profit of $9.7 million.
Results reflected an $8.9 million loss on property damage from the April 2026 East Providence incident, offset by an equal insurance recovery receivable, plus $5.3 million of other incident-related costs that Aspen plans to claim under business interruption coverage. Despite this disruption, total revenue grew 32% quarter-over-quarter and Thermal Barrier revenue increased 81% quarter-over-quarter, supported by stabilizing North American EV demand and European momentum. The company highlighted a PyroThin® award from Jaguar Land Rover for two next-generation vehicle architectures and ended the quarter with $153.4 million in cash, cash equivalents and restricted cash. For Q3 2026, Aspen guides to revenue of $65–$80 million, net loss of $6–$9 million, and positive Adjusted EBITDA of $7–$15 million, excluding an estimated $5–$10 million of additional incident-related costs.
Aspen Aerogels, Inc. reported several corporate updates, including leadership, compensation, governance and operations. The board named CFO and Treasurer Grant Thoele as principal accounting officer, succeeding the prior chief accounting officer, and increased his annual base salary to $425,000 effective April 1, 2026, while keeping his 2026 target bonus at 60% of salary.
The company’s annual meeting reached a strong quorum, with 70,437,282 of 82,825,603 eligible shares present, and stockholders re-elected two Class III directors, approved executive compensation, and supported holding say-on-pay votes every year. Stockholders also approved the equity compensation plan and ratified the independent auditor.
Operationally, Aspen announced the initiation of a staged restart of its East Providence, Rhode Island manufacturing facility after an April 8 incident, following comprehensive mechanical, operational and safety reviews with multiple government agencies. The company plans a cautious, phased production ramp and notes that fully restoring the plant’s capabilities will take time, while it continues to investigate the incident and leverage external manufacturing partners.
Aspen Aerogels reported a weak first quarter of 2026, with revenue falling to $37.9 million from $78.7 million a year earlier and an adjusted EBITDA loss of $12.7 million versus a $4.9 million profit. The thermal barrier segment dropped to $16.3 million from $48.9 million after regulatory and incentive changes reduced customer demand, while Energy Industrial revenue declined to $21.6 million from $29.8 million. Net loss narrowed to $23.7 million from $301.2 million, largely because the prior year included a large impairment charge; on an adjusted basis, net loss widened to $23.3 million from $4.8 million.
The company ended the quarter with $175.6 million in cash, cash equivalents, and restricted cash, helped by a $37.6 million commercial settlement payment from General Motors, of which $3.5 million was recognized as revenue and the rest deferred through 2027. Aspen’s East Providence, Rhode Island facility suffered an explosion on April 8, 2026, forcing a temporary shutdown; management expects a staged restart beginning in May while relying on inventory and an external manufacturing facility to support customers. For Q2 2026, Aspen projects revenue of $40–48 million, a net loss of $14–20 million, and adjusted EBITDA between negative $4 million and negative $10 million, and targets full-year 2026 capital expenditures of less than $10 million.
Aspen Aerogels reports that its East Providence, Rhode Island manufacturing facility remains offline following an explosion on the evening of April 8, 2026. The incident damaged part of the production area and forced a temporary halt to operations.
Preliminary reports point to a specific high-temperature oven as the source of the explosion. Eleven employees were transported to local medical facilities for evaluation and were later released. Aspen is working with relevant authorities on a plan to resume operations and has begun business interruption and property damage insurance claims. The company is still assessing the impact on its business and expects to provide a further update with its fiscal 2026 first quarter earnings release in early May.
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.
Aspen Aerogels, Inc. disclosed that on December 16, 2025 it and certain subsidiaries entered into Amendment No. 2 to their MidCap Credit, Security and Guaranty Agreement. The amendment raises the minimum liquidity requirement from the greater of $50 million and 85% of the outstanding term loan to the greater of $50 million and 100% of the outstanding term loan, and removes the minimum EBITDA maintenance covenant.
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, 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.
Aspen Aerogels, Inc. (ASPN) disclosed executive severance terms for Mr. Thoele in an 8-K. If his employment ends without cause or for good reason (a Qualifying Termination) and not tied to a change of control, he would receive 1x his annual base salary plus his Performance Bonus Target, a pro rata bonus for the year, any prior unpaid bonus, health-care cost coverage for up to 12 months or the applicable COBRA period, six months of outplacement, and accelerated vesting of awards that would have vested within 12 months, with vested options exercisable for one year post-termination (subject to original expiration dates).
If a Qualifying Termination occurs within 24 months after a change of control, the cash multiple rises to 2x salary plus Performance Bonus Target, health coverage extends up to 24 months, outplacement remains six months, and all outstanding equity awards accelerate in full, with vested options exercisable for one year (subject to original expiration dates).