# Aspen Aerogels Inc. (ASPN)

**Exchange:** NYSE  
**Sector:** Industrials  
**Market cap:** $471M  
**Price:** $5.72 (+5.15%)

> Aspen Aerogels Inc. is a technology company specializing in the design, development, and manufacture of advanced aerogel materials. These materials are primarily used for thermal management solutions in a variety of industries, including energy infrastructure, petrochemical, and building materials. Known for their lightweight nature and exceptional insulating properties, aerogels produced by Aspen Aerogels play a critical role in enhancing energy efficiency and reducing carbon footprints. Within the industrial sector, their applications are vital for controlling process temperatures and maintaining operational safety. In the building industry, these materials contribute to the development of energy-efficient structures. Based in Northborough, Massachusetts, Aspen Aerogels’ innovations in nanotechnology make it a significant player in the advancement of sustainable and energy-efficient technologies. The company's focus on cutting-edge insulation solutions aligns with growing global demands for energy conservation and climate change mitigation, highlighting its continued relevance in the market.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $271M | $46M | -$378M | -$390M | — |
| 2024 | $453M | $183M | $55M | $13M | — |
| 2023 | $239M | $57M | -$49M | -$46M | — |
| 2022 | $180M | $5M | -$79M | -$83M | — |
| 2021 | $122M | $10M | -$41M | -$37M | — |
| 2020 | $100M | $15M | -$22M | -$22M | — |
| 2019 | $139M | $26M | -$14M | -$15M | — |
| 2018 | $104M | $13M | -$34M | -$34M | — |
| 2017 | $112M | $19M | -$19M | -$19M | — |
| 2016 | $118M | $23M | -$11M | -$12M | — |
| 2015 | $123M | $25M | -$6M | -$6M | — |
| 2014 | $102M | $17M | -$16M | -$66M | — |
| 2013 | $86M | $11M | -$20M | -$48M | — |
| 2012 | $63M | -$8M | -$33M | -$56M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $407M | $171M | $236M | $157M | $65M |
| 2024 | $895M | $280M | $615M | $221M | $95M |
| 2023 | $703M | $215M | $488M | $140M | — |
| 2022 | $643M | $196M | $447M | $281M | — |
| 2021 | $183M | $55M | $128M | $77M | — |
| 2020 | $97M | $30M | $68M | $16M | $4M |
| 2019 | $104M | $45M | $59M | $4M | — |
| 2018 | $99M | $29M | $70M | $3M | — |
| 2017 | $124M | $23M | $101M | $11M | — |
| 2016 | $135M | $19M | $116M | $18M | — |
| 2015 | $140M | $18M | $122M | $33M | — |
| 2014 | $145M | $21M | $124M | $50M | — |
| 2013 | $90M | $152M | -$62M | $2M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $33M | $37M | -$5M |
| 2024 | $46M | $86M | -$41M |
| 2023 | -$43M | $175M | -$218M |
| 2022 | -$94M | $178M | -$272M |
| 2021 | -$19M | $14M | -$32M |
| 2020 | -$10M | $3M | -$13M |
| 2019 | -$1M | $2M | -$3M |
| 2018 | -$9M | $4M | -$12M |
| 2017 | -$5M | $6M | -$11M |
| 2016 | -$578,000 | $13M | -$14M |

Source: [CompaniesByCap](https://companiesbycap.com/company/ASPN)