Aspen Aerogels (NYSE:ASPN) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Aspen Aerogels (NYSE:ASPN) issued its quarterly earnings data on Wednesday. The construction company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.07), FiscalAI reports. Aspen Aerogels had a negative return on equity of 13.07% and a negative net margin of 143.69%.The business had revenue of $41.34 million during the quarter, compared to the consensus estimate of $44.25 million. During the same period last year, the company earned $0.14 earnings per share. The business’s quarterly revenue was down 66.4% compared to the same quarter last year. Aspen Aerogels updated its Q1 2026 guidance to -0.280–0.240 EPS.

Here are the key takeaways from Aspen Aerogels’ conference call:

• Ended 2025 with ~$158.6M cash, expect a ~$38M GM payment in March, are selling Plant Two, and have cut fixed cash costs by ~$75M annually while targeting an adjusted-EBITDA breakeven of $175M revenue — all improving balance-sheet flexibility.
• Near-term EV demand reset materially hit results: Q4 revenue was $41.3M, GAAP Q4 loss $72.9M and FY loss $389.6M, and Q1 2026 guidance is only $35M–$40M with adjusted EBITDA of negative $13M to $10M, driven by lower GM production and several one-time charges (e.g., $22.5M non-cash equipment charge, $3M bad debt).
• European EV momentum is building — Aspen now has seven European OEM design wins (including Volvo), and management cites a Europe-only pipeline of roughly $220M for 2027 expanding to >$450M in 2028 that could materially contribute to 2027–28 revenue.
• The Energy Industrial segment (2025 revenue ~$102M) is expected to grow ~20% in 2026 driven by subsea awards, a doubling of LNG project activity versus 2025, and pent-up maintenance demand, with a goal to scale the segment toward $200M of high-margin revenue without major new CapEx.
• Aspen is expanding into battery energy storage systems (BESS), leveraging EV-proven thermal technology and U.S. manufacturing; management is deep in qualifications and expects initial revenue in 2026, but market sizing and timing remain uncertain.

Aspen Aerogels Trading Up 22.2%

NYSE:ASPN opened at $3.14 on Friday. The stock has a fifty day simple moving average of $3.32 and a 200 day simple moving average of $5.07. The firm has a market capitalization of $259.51 million, a price-to-earnings ratio of -0.66 and a beta of 2.99. Aspen Aerogels has a 1-year low of $2.30 and a 1-year high of $9.78. The company has a quick ratio of 3.33, a current ratio of 3.94 and a debt-to-equity ratio of 0.28.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research raised Aspen Aerogels from a “strong sell” rating to a “hold” rating in a report on Thursday, January 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aspen Aerogels in a research report on Monday, December 29th. Canaccord Genuity Group dropped their price target on shares of Aspen Aerogels from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. TD Cowen reduced their price target on shares of Aspen Aerogels from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Roth Mkm decreased their price objective on shares of Aspen Aerogels from $6.00 to $3.00 and set a “buy” rating for the company in a report on Thursday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.50.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd acquired a new stake in shares of Aspen Aerogels during the fourth quarter valued at approximately $40,000. StoneX Group Inc. purchased a new position in Aspen Aerogels during the 4th quarter worth approximately $41,000. Acadian Asset Management LLC acquired a new stake in Aspen Aerogels during the 1st quarter valued at $43,000. Tower Research Capital LLC TRC lifted its holdings in shares of Aspen Aerogels by 184.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,235 shares of the construction company’s stock valued at $43,000 after purchasing an additional 4,693 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Aspen Aerogels in the fourth quarter valued at $58,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

About Aspen Aerogels

Aspen Aerogels, Inc, headquartered in Northborough, Massachusetts, develops and manufactures high-performance aerogel insulation materials and custom engineered solutions. Founded in 2001 as a spin-out from Department of Energy research, the company pursued an initial public offering on the NYSE in 2014 under the ticker ASPN. Aspen Aerogels combines proprietary aerogel formulations with advanced manufacturing processes to deliver products known for their low thermal conductivity, lightweight construction and robust mechanical properties.

The company’s product portfolio spans blanket insulation, boards, and custom shapes built around several proprietary brands, including Pyrogel, Cryogel and Spaceloft.