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Aspen Aerogels Inc (ASPN) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

BASIC MATERIALS · SPECIALTY CHEMICALS · DATA UPDATED 2026-10-03

Aspen Aerogels Inc (ASPN) operates in the SPECIALTY CHEMICALS industry and is headquartered in Northborough, United States with about 854 employees. Its market capitalization is roughly $419 million. In the fiscal year ended 2025-12-31, ASPN reported $271M in revenue and ($390M) in net income.

Aspen Aerogels, Inc., an aerogel technology company, designs, develops, manufactures, and sells aerogel materials primarily for use in the energy industrial, sustainable insulation materials, and electric vehicle (EV) markets in the United States, Canada, Asia, Europe, and Latin America.

Interactive charts & full statements → Open the ASPN valuation workbench →

ASPN Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31
Total Revenue	$202M	$271M	$453M	$239M	$180M	$122M	$100M	$139M	$104M	$112M	$118M	$123M	$102M	$86M	$63M	$46M	$43M	$29M
Gross Profit	$5M	$46M	$183M	$57M	—	$10M	$15M	$26M	$13M	$19M	$23M	$25M	$17M	$11M	($8M)	($3M)	$6M	($4M)
Gross Margin %	2.7%	17.0%	40.4%	23.8%	8.2%	8.2%	14.5%	18.9%	12.1%	16.7%	19.8%	20.1%	16.7%	12.5%	-12.6%	-5.7%	13.2%	-12.7%
Operating Income (EBIT)	$204M	($51M)	$55M	($49M)	($41M)	($41M)	($22M)	($14M)	($34M)	($19M)	($11M)	($6M)	($16M)	($20M)	($33M)	($21M)	($7M)	($16M)
Operating Margin %	100.9%	-19.0%	12.0%	-20.6%	-33.4%	-33.4%	-21.5%	-10.2%	-32.5%	-17.1%	-9.5%	-5.1%	-15.7%	-23.2%	-52.0%	-44.8%	-17.3%	-54.4%
Net Income	($126M)	($390M)	$13M	($46M)	($37M)	($28M)	($12M)	($5M)	($34M)	($19M)	($12M)	($6M)	($66M)	($48M)	($56M)	($33M)	($10M)	($19M)
Net Margin %	-62.5%	-143.7%	2.9%	-19.2%	-30.5%	-22.9%	-11.8%	-3.4%	-33.0%	-17.3%	-10.2%	-5.2%	-64.8%	-55.3%	-88.5%	-71.5%	-22.9%	-65.1%
EBITDA	($75M)	$5.7B	$51M	($22M)	($39M)	($31M)	($11M)	($4M)	($23M)	($8M)	($1M)	$4M	($6M)	($6M)	($23M)	($21M)	($3M)	($10M)
Earnings Per Share (EPS)	$-1.53	$-4.71	$0.17	$-0.66	$-0.94	$-0.92	$-0.45	$-0.20	$-1.45	$-0.83	$-0.52	$-0.28	$-5.37	$-2.07	$-3.64	$-2.13	$-0.64	$-1.21
Shares Outstanding (M)	83M	83M	80M	69M	39M	30M	26M	24M	24M	23M	23M	23M	12M	23M	15M	15M	15M	15M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ASPN Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$50M	$38M	$41M	$73M	$78M	$79M	$123M	$117M
Gross Profit	$3M	$4M	($23M)	$21M	$25M	$23M	$47M	$49M
Gross Margin %	6.6%	11.3%	-55.5%	28.5%	32.5%	29.0%	38.3%	41.8%
Operating Income (EBIT)	($29M)	($20M)	$256M	($3M)	($5M)	($299M)	$15M	$17M
Operating Margin %	-57.7%	-53.9%	620.4%	-4.6%	-6.6%	-380.2%	11.9%	14.8%
Net Income	($23M)	($24M)	($73M)	($6M)	($9M)	($301M)	$11M	($13M)
Net Margin %	-46.7%	-62.5%	-176.4%	-8.7%	-11.6%	-382.7%	9.2%	-11.1%
EBITDA	($14M)	($21M)	($42M)	$3M	$1M	($292M)	$20M	($5M)
Earnings Per Share (EPS)	$-0.28	$-0.29	$-0.88	$-0.08	$-0.11	$-3.67	$0.14	$-0.17
Shares Outstanding (M)	83M	83M	83M	82M	82M	82M	83M	76M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ASPN Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31
Cash from Operations (CFO)	$49M	$33M	$46M	($43M)	($94M)	($19M)	($10M)	($1M)	($9M)	($5M)	($1M)	$5M	$7M	($14M)	($26M)	($24M)	($15M)	($13M)
Capital Expenditures (CapEx)	$14M	$37M	$86M	$175M	$178M	$14M	$3M	$2M	$4M	$6M	$13M	$22M	$13M	$3M	$10M	$36M	$11M	$2M
Free Cash Flow (FCF)	$35M	($5M)	($41M)	($218M)	($272M)	($32M)	($13M)	($3M)	($12M)	($11M)	($14M)	($17M)	($7M)	($17M)	($36M)	($60M)	($26M)	($15M)
FCF Margin %	17.2%	-1.7%	-9.0%	-91.3%	-224.0%	-26.6%	-13.3%	-2.3%	-11.7%	-9.6%	-11.7%	-13.6%	-6.4%	-19.8%	-56.9%	-131.6%	-61.3%	-51.1%
Dividends Paid	—	—	—	—	$97M	—	$1M	—	—	$0M	$0M	$0M	$0M	—	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ASPN Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	($16M)	$34M	$16M	$15M	($4M)	$6M	$36M	$21M
Capital Expenditures (CapEx)	$1M	$1M	$2M	$9M	$13M	$13M	$15M	$21M
Free Cash Flow (FCF)	($18M)	$33M	$14M	$6M	($17M)	($7M)	$21M	$0M
FCF Margin %	-35.2%	86.5%	33.1%	8.1%	-21.6%	-9.4%	17.0%	-0.0%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ASPN Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2010-12-31	2009-12-31
Total Assets	$393M	$407M	$895M	$703M	$643M	$183M	$97M	$104M	$99M	$124M	$135M	$140M	$145M	$90M	$95M	$89M	$65M
Cash & Cash Equivalents	$152M	$157M	$221M	$140M	$281M	$77M	$16M	$4M	$3M	$11M	$18M	$33M	$50M	$2M	$1M	$27M	$28M
Total Liabilities	$200M	$171M	$280M	$215M	$196M	$55M	$30M	$45M	$29M	$23M	$19M	$18M	$21M	$152M	$130M	$147M	$59M
Total Debt (Short + Long-Term)	$112M	$114M	$164M	$117M	$110M	$2M	$5M	$4M	$4M	$4M	$0M	$0M	$1M	$139M	$110M	$0M	$0M
Total Shareholders' Equity	$192M	$236M	$615M	$488M	$447M	$128M	$68M	$59M	$70M	$101M	$116M	$122M	$124M	($62M)	($35M)	($58M)	$6M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive ASPN viewer.

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