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.
Aspen Aerogels, Inc. filings document the company's aerogel technology business, operating results and material corporate events. Recent Forms 8-K cover quarterly and annual financial results, Regulation FD disclosures, business developments, manufacturing-facility updates, and amendments to the MidCap Loan Facility and related credit-party obligations.
The filing record also includes proxy materials describing governance, board and compensation matters, executive employment arrangements, equity awards and shareholder voting items. Aspen's disclosures connect its capital structure and credit covenants with operations in Energy Industrial and Thermal Barrier products, including PyroThin, Cryogel and Pyrogel applications.
Aspen Aerogels director Cari Robinson reported equity awards for board service. On May 13, 2026, Robinson received 10,370 Restricted Stock Units (RSUs) and 8,706 stock options as part of the annual non-employee director equity grant.
Each RSU represents one share of common stock and will vest on the earlier of May 13, 2027, or the day before the company’s 2027 annual stockholders meeting. The options have a $5.40 exercise price, the same vesting schedule, and expire on May 13, 2036. Following these awards, Robinson’s reported position comprises 22,616 share equivalents, including 12,246 shares of common stock and 10,370 RSUs, held directly.
Aspen Aerogels reported a sharp revenue decline and a smaller loss for the quarter. Revenue for the three months ended March 31, 2026 fell to $37.9 million, down 52% from $78.7 million a year earlier, mainly from lower thermal barrier sales.
Net loss narrowed to $23.7 million (basic and diluted loss per share of $0.29) from $301.2 million ($3.67 per share), as the prior period included a large impairment related to the cancelled Statesboro plant. Aspen generated $34.1 million of cash from operations and ended the quarter with $173.9 million in cash and cash equivalents.
Deferred revenue rose to $36.6 million, helped by a $37.6 million customer settlement that is being recognized over about two years. After quarter-end, an explosion at the East Providence, Rhode Island plant halted operations; the company is relying on inventory, an external manufacturing facility and insurance while working to restart the site.
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 is holding its 2026 virtual annual stockholder meeting on May 13, 2026, asking investors to elect two directors, ratify KPMG as auditor, approve executive pay and its voting frequency, and support a future move to declassify the board. The board recommends voting for all proposals and choosing “One Year” for say-on-pay frequency.
The proxy also highlights 2025 actions to streamline operations, remove approximately $75 million of structural fixed costs, and strengthen the balance sheet. Aspen ended 2025 with about $159 million in cash and cash equivalents and expects nearly $38 million from a General Motors commercial settlement in Q1 2026, plus potential Plant II asset sales to further reduce debt.
The Vanguard Group filed Amendment No. 2 to a Schedule 13G/A reporting 0 shares of Aspen Aerogels Inc. common stock, representing 0% of the class as reported. The filing explains an internal realignment dated January 12, 2026 that led certain Vanguard subsidiaries to report disaggregated holdings separately.
Aspen Aerogels filed an amended annual report mainly to correct a clerical error in KPMG’s audit discussion of inventory, changing the referenced balance to $38.2 million as of December 31, 2025. The underlying 2025 results show a sharp downturn: revenue fell to $271.1 million from $452.7 million in 2024, and the company posted a net loss of $389.6 million versus prior-year net income of $13.4 million.
The loss was driven largely by the decision to halt construction of the Statesboro, Georgia plant, resulting in $286.6 million of impairment charges and additional losses as assets were reclassified as held for sale. Aspen ended 2025 with $156.9 million of cash and cash equivalents, total assets of $406.7 million, and total liabilities of $171.2 million. Management states it expects existing cash, together with operations and potential financings, to support current requirements and capital spending for at least 12 months.
Aspen Aerogels, Inc. is soliciting proxies for its virtual 2026 annual meeting to be held at 9:30 a.m. Eastern Time on May 13, 2026. Stockholders will vote to elect two directors, ratify KPMG LLP as auditor, and cast non-binding advisory votes on executive compensation, vote frequency, and future declassification of the Board.
The CEO letter highlights operating actions taken in 2025: the company ended the year with approximately $159 million in cash, expects nearly $38 million from General Motors in Q1 2026 related to a commercial settlement, and removed approximately $75 million of structural fixed costs on an annualized basis. Management cites recent awards, including a North Sea subsea contract with expected delivery in Q3 2026 and PyroThin thermal barrier awards with production starts expected in 2027 and 2028. The company is pursuing Plant II asset sales in 2026 to further reduce debt.
Aspen Aerogels, Inc. files its annual report describing a fast-growing but volatile business focused on EV battery thermal barriers and energy industrial insulation. Total revenue was $271.1 million in 2025, compared with $452.7 million in 2024 and $238.7 million in 2023, reflecting a sharp pullback after a strong prior year.
Sales of PyroThin thermal barriers into the EV market reached $168.9 million in 2025, following $306.8 million in 2024 and $110.1 million in 2023, primarily to General Motors. GM alone represented 59% of 2025 revenue and 64% of 2024 revenue, underscoring heavy customer concentration risk.
The company reported a 2025 net loss of $389.6 million and an accumulated deficit of $1,049.8 million as of December 31, 2025, even after earning net income of $13.4 million in 2024. Management highlights ongoing capital needs, debt covenants under its MidCap term loan, and reliance on contract manufacturing in China and unionized operations in Mexico.
Aspen operates a proprietary aerogel platform, with 400 issued patents worldwide, serving EV, refinery, petrochemical, LNG and power customers. It had 854 full-time employees as of December 31, 2025 and generated $172.1 million of U.S. revenue and $99.0 million of international revenue that year.