What is the market's earnings forecast for Aspen Aerogels next quarter?

What does Aspen Aerogels do and what are its main business segments?

What factors drove the changes in Aspen Aerogels's revenue and profit?

What is Aspen Aerogels's gross profit margin?

What were the key takeaways from Aspen Aerogels's earnings call?

What is Aspen Aerogels's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for Aspen Aerogels year over year?

What guidance did Aspen Aerogels's management provide for the next earnings period?

- **EV Market Reset**: Aspen thermal barrier volumes tied to GM EV production; 2026 European OEMs $10-15M.
- **Energy Industrial Stability**: Subsea projects offset EV volatility; 2026 LNG exposure $15M.
- **Breakeven 2026**: $200M revenue with 2026+ subsea/EV split ($45M).

**【Management Opening Remarks】**
- CEO Don Young highlighted Q3 revenue of $73 million, driven by a 6% quarter-over-quarter decline in Thermal Barrier segment and stabilization in Energy Industrial segment.
- CFO Grant Thoele emphasized cost control, reducing OpEx by 7% YoY, and guided Q4 EBITDA breakeven at $200 million revenue.
- Leadership transition: Grant Thoele (CFO) and Glenn Deegan (CAO) focus on EV demand resilience and Energy Industrial growth.

**【CEO Summary Section】**
- EV market reset: GM EV production aligned with consumer demand, with Aspen's thermal barrier volumes tied to GM's U.S. EV share (16.5%).
- Energy Industrial stabilization: Subsea projects offset EV volatility, with Q4 $25M+ LNG exposure.
- Aerogel adjacency: Battery storage and construction markets (e.g., Tesla fire resistance) diversify 2026+ growth.

**【CFO Financial Commentary】**
- Q3: $73M revenue (-6%); Thermal Barrier gross margin 24% (down 700bps). Energy Industrial 36% stable.
- Q4 guide: $40-50M revenue, EBITDA -$6M to breakeven; 2026 EV exposure $135M (IHS), 2026+ European OEMs $15M.
- Liquidity: $152M cash; 2025 CapEx <$10M, 2026+ subsea/EV split ($45M) supports breakeven at $200M.

**【Q&A Highlights】**
1. **EV Demand**: GM EV production rate reset, Aspen thermal barrier volumes directly tied to GM EV share. 2026+ European OEMs ($10-15M). 2. **Battery Storage**: Aerogel fire resistance in EVs and construction. 3. **Energy Industrial**: Subsea projects ($15M) and LNG exposure. 4. **CapEx**: $10M 2025, 2026+ subsea/EV split.

Aspen Aerogels, Inc. (ASPN) Q3 2025 Earnings Call Transcript

Revenue

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Financing Services Revenue

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Operating Expenses

Selling, General and Administrative Expenses

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Net Income

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ASPN

ASPN fundamentals

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