# Ascent Solar Technologies Inc. (ASTI)

**Exchange:** NASDAQ  
**Sector:** Technology  
**Market cap:** $22M  
**Price:** $8.70 (+24.39%)

> Ascent Solar Technologies Inc. is a solar technology company specializing in the manufacture and sale of photovoltaic solar modules in the United States. It develops featherweight, flexible thin-film PV solutions using CIGS technology, offering superior power-to-weight and power-to-area performance for demanding applications. The company targets high-value markets including space power beaming, aerospace, satellites, near-earth orbiting vehicles, fixed-wing unmanned aerial vehicles, agrivoltaics, defense, and portable chargers like the XD-12. Its products deliver renewable power in extreme environments, such as saltwater durability testing, orbital missions, and air-droppable systems for battlefield deployment. Ascent Solar Technologies Inc. markets through direct customers, distributors, retailers, OEMs, system integrators, and value-added resellers, with recent integrations into spacecraft like NOVI's hyperspectral platforms. Founded in 2005 and headquartered in Thornton, Colorado, it supports U.S. national security, commercial space, and industrial sectors with rapid, customized production from its domestic facility.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $76,773 | — | -$8M | -$8M | — |
| 2024 | $41,893 | — | -$9M | -$9M | — |
| 2023 | $458,260 | — | -$16M | -$17M | — |
| 2022 | $1M | — | -$17M | -$20M | — |
| 2021 | $607,783 | — | -$9M | -$6M | — |
| 2020 | $66,613 | — | -$2M | $2M | — |
| 2019 | $638,380 | — | -$3M | -$5M | — |
| 2018 | $862,412 | — | -$7M | -$16M | — |
| 2017 | $642,179 | — | -$14M | -$19M | — |
| 2016 | $2M | — | -$25M | -$39M | — |
| 2015 | $7M | — | -$28M | -$46M | — |
| 2014 | $5M | — | — | -$43M | — |
| 2013 | $1M | — | — | -$30M | — |
| 2012 | $1M | — | — | -$29M | — |
| 2011 | $4M | — | — | -$106M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $6M | $3M | $3M | $3M | — |
| 2024 | $7M | $4M | $3M | $3M | — |
| 2023 | $6M | $8M | -$2M | $1M | — |
| 2022 | $19M | $14M | $899,298 | $11M | — |
| 2021 | $13M | $16M | -$3M | $6M | — |
| 2020 | $7M | $28M | -$20M | $167,725 | — |
| 2019 | $6M | $31M | -$25M | — | $6M |
| 2018 | $6M | $29M | -$23M | $18,159 | $5M |
| 2017 | $8M | $20M | -$15M | $89,618 | $5M |
| 2016 | $12M | $26M | -$14M | $130,946 | $6M |
| 2015 | $19M | $16M | $3M | $326,217 | $6M |
| 2014 | $56M | $48M | $8M | $3M | $6M |
| 2013 | $29M | $13M | $15M | $3M | $6M |
| 2012 | $44M | $9M | $34M | $13M | $7M |
| 2011 | $61M | $11M | $50M | $3M | $7M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$7M | $32,015 | -$7M |
| 2024 | -$8M | $421 | -$8M |
| 2023 | -$10M | $4M | -$13M |
| 2022 | -$11M | $169,357 | -$11M |
| 2021 | -$9M | $280,317 | -$10M |
| 2020 | -$3M | — | — |
| 2019 | -$3M | $6,393 | -$3M |
| 2018 | -$4M | — | -$4M |
| 2017 | -$13M | $6,402 | -$13M |
| 2016 | -$17M | $51,724 | -$17M |
| 2015 | -$22M | $29,194 | -$22M |
| 2014 | -$28M | $134,727 | -$28M |
| 2013 | -$20M | $519,741 | -$21M |
| 2012 | -$18M | $6M | -$24M |
| 2011 | -$20M | $10M | -$30M |

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