Aspen Aerogels Inc (ASPN) financials
Aspen Aerogels revenue and earnings by year
Aspen Aerogels's revenue was $271 million in the fiscal year to December 31, 2025, down 40.1% from the year before. Net income was -$390 million, -143.7% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 9.7% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 271 | 453 | 239 | 180 | 122 | 100 | 139 | 104 | 112 | 118 |
| Revenue growth | -40.1% | 89.6% | 32.4% | 48.3% | 21.3% | -28.1% | 33.6% | -6.5% | -5.2% | — |
| Gross profit | 46 | 183 | 57 | 5 | 10 | 15 | 28 | 14 | 20 | 25 |
| Gross margin | 17.0% | 40.4% | 23.8% | 2.8% | 8.2% | 14.6% | 19.8% | 13.1% | 17.5% | 20.9% |
| Operating income | -378 | 55 | -49 | -79 | -41 | -22 | -13 | -33 | -18 | -10 |
| Operating margin | -139.5% | 12.0% | -20.6% | -43.9% | -33.4% | -21.5% | -9.2% | -31.5% | -16.3% | -8.4% |
| Net income | -390 | 13 | -46 | -83 | -37 | -22 | -15 | -34 | -19 | -12 |
| Net margin | -143.7% | 3.0% | -19.2% | -45.9% | -30.5% | -21.7% | -10.5% | -33.0% | -17.3% | -10.2% |
| Diluted EPS | -$4.73 | $0.17 | -$0.66 | -$2.10 | -$1.21 | -$0.82 | -$0.59 | -$1.44 | -$0.82 | -$0.52 |
| Free cash flow | -5 | -41 | -218 | -272 | -32 | -13 | -3 | -12 | -11 | -14 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open ASPN in Markets.
How Aspen Aerogels makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Thermal Barrier | $29.5M | 59.1% |
| Energy Industrial | $20.4M | 40.9% |
See also: ASPN returns
No forecast, no recommendation. This page describes Aspen Aerogels Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.