$ASPN
ASPEN AEROGELS INC

2023 Q3 Form 10-Q Financial Statement

#000095017023038088 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $60.76M $48.16M
YoY Change 65.52% 5.52%
Cost Of Revenue $46.95M $39.75M
YoY Change 9.01% -15.15%
Gross Profit $13.81M $8.407M
YoY Change -317.17% -794.22%
Gross Profit Margin 22.73% 17.46%
Selling, General & Admin $24.23M $21.49M
YoY Change 40.39% 26.48%
% of Gross Profit 175.42% 255.58%
Research & Development $4.218M $3.964M
YoY Change -10.14% -10.86%
% of Gross Profit 30.54% 47.15%
Depreciation & Amortization $4.550M $3.510M
YoY Change 79.77% 72.65%
% of Gross Profit 32.95% 41.75%
Operating Expenses $28.44M $25.45M
YoY Change 29.59% 18.74%
Operating Profit -$14.63M -$17.04M
YoY Change -48.31% -24.74%
Interest Expense $1.313M $1.832M
YoY Change -202.1% 1154.79%
% of Operating Profit
Other Income/Expense, Net $1.561M $1.621M
YoY Change -221.38% -215.46%
Pretax Income -$13.07M -$15.42M
YoY Change -55.84% -35.88%
Income Tax
% Of Pretax Income
Net Earnings -$13.07M -$15.42M
YoY Change -55.83% -35.87%
Net Earnings / Revenue -21.52% -32.03%
Basic Earnings Per Share -$0.19 -$0.22
Diluted Earnings Per Share -$0.19 -$0.22
COMMON SHARES
Basic Shares Outstanding 70.21M 70.11M
Diluted Shares Outstanding 69.32M 69.25M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $94.60M $134.3M
YoY Change -7.62% -17.19%
Cash & Equivalents $94.60M $134.3M
Short-Term Investments
Other Short-Term Assets $16.90M $16.30M
YoY Change 174.4% 253.12%
Inventory $34.42M $33.29M
Prepaid Expenses
Receivables $54.41M $44.17M
Other Receivables $0.00 $0.00
Total Short-Term Assets $200.4M $228.0M
YoY Change 28.21% 6.92%
LONG-TERM ASSETS
Property, Plant & Equipment $385.0M $368.3M
YoY Change 70.04% 201.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.355M $2.388M
YoY Change -12.91% -6.5%
Total Long-Term Assets $404.8M $389.0M
YoY Change 76.65% 172.72%
TOTAL ASSETS
Total Short-Term Assets $200.4M $228.0M
Total Long-Term Assets $404.8M $389.0M
Total Assets $605.1M $617.1M
YoY Change 57.01% 73.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.12M $48.06M
YoY Change -36.36% -5.99%
Accrued Expenses $16.69M $10.67M
YoY Change 9.27% -2.74%
Deferred Revenue $5.463M $4.634M
YoY Change 131.88% 186.76%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $61.26M $65.63M
YoY Change -24.33% -7.83%
LONG-TERM LIABILITIES
Long-Term Debt $112.1M $109.2M
YoY Change 6.54% 6.31%
Other Long-Term Liabilities $22.00M $22.30M
YoY Change 30.7% 29.23%
Total Long-Term Liabilities $134.1M $131.5M
YoY Change 9.87% 9.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.26M $65.63M
Total Long-Term Liabilities $134.1M $131.5M
Total Liabilities $195.3M $197.1M
YoY Change -3.78% 3.1%
SHAREHOLDERS EQUITY
Retained Earnings -$673.1M -$660.0M
YoY Change 8.88% 12.13%
Common Stock $1.083B $1.080B
YoY Change 35.26% 43.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $409.8M $420.0M
YoY Change
Total Liabilities & Shareholders Equity $605.1M $617.1M
YoY Change 57.01% 73.37%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$13.07M -$15.42M
YoY Change -55.83% -35.87%
Depreciation, Depletion And Amortization $4.550M $3.510M
YoY Change 79.77% 72.65%
Cash From Operating Activities -$7.500M -$7.680M
YoY Change -79.98% -23.47%
INVESTING ACTIVITIES
Capital Expenditures $32.28M $66.01M
YoY Change -148.19% -274.38%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$32.28M -$66.01M
YoY Change -51.81% 74.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 120.0K 140.0K
YoY Change -99.73% -97.14%
NET CHANGE
Cash From Operating Activities -7.500M -7.680M
Cash From Investing Activities -32.28M -66.01M
Cash From Financing Activities 120.0K 140.0K
Net Change In Cash -39.66M -73.55M
YoY Change -33.66% 71.08%
FREE CASH FLOW
Cash From Operating Activities -$7.500M -$7.680M
Capital Expenditures $32.28M $66.01M
Free Cash Flow -$39.78M -$73.69M
YoY Change -234.69% -364.88%

Facts In Submission

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NetCashProvidedByUsedInOperatingActivities
-32864000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
115390000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
134300000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
52359000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-115390000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-52359000
aspn Proceeds From Issuance Of Convertible Note Related Party
ProceedsFromIssuanceOfConvertibleNoteRelatedParty
100000000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
171000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
174000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
393000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2339000
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
50000000
aspn Payments Of Fees And Issuance Costs From Private Placement Of Common Stock
PaymentsOfFeesAndIssuanceCostsFromPrivatePlacementOfCommonStock
136000
aspn Contract With Customer Prepayment Liability Repayment
ContractWithCustomerPrepaymentLiabilityRepayment
4728000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-222000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
170844000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-147943000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
85621000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
282561000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
76564000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
134618000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
162185000
us-gaap Interest Paid Net
InterestPaidNet
1000
us-gaap Interest Paid Net
InterestPaidNet
95000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9879000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5582000
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
5122000
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
524000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-5258000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
17706000
aspn Number Of Subsidiaries
NumberOfSubsidiaries
3
us-gaap Net Income Loss
NetIncomeLoss
-32200000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-32300000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
115400000
aspn Period Of Option To Purchase
PeriodOfOptionToPurchase
P18M
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the consolidated financial statements requires the Company to make a number of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include allowances for doubtful accounts, sales returns and allowances, product warranty costs, inventory valuation, the carrying amount of property and equipment, right-of-use assets, lease liabilities, stock-based compensation, and deferred income taxes. The Company evaluates its estimates and assumptions on an on-going basis using historical experience and other factors, including current economic conditions, which are believed to be reasonable under the circumstances. Management adjusts such estimates and assumptions when facts and circumstances warrant. Illiquid credit markets, volatile equity markets and declines in business investment can increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in these estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods.</span></p>
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
300000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93744000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
84047000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
143000
aspn Contract With Customer Asset Deductions
ContractWithCustomerAssetDeductions
-143000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments, which potentially expose the Company to concentrations of credit risk, consist principally of accounts receivable. The Company’s customers are primarily insulation distributors, insulation contractors, insulation fabricators and select energy and automotive end-users located throughout the world. The Company performs ongoing credit evaluations of its customers’ financial condition and generally requires no collateral to secure accounts receivable. The Company maintains an allowance for doubtful accounts based on its assessment of the collectability of accounts receivable. The Company reviews the allowance for doubtful accounts quarterly. During the six months ended June 30, 2023, the Company recorded a reduction for estimated customer uncollectible accounts receivable of less than </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">0.1</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million. During the six months ended June 30, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, the Company recorded a reduction for estimated customer uncollectible accounts receivable of less than $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">0.1</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2710000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2295000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4977000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4123000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48158000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
45640000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48158000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
45640000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93744000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
84047000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5846000
aspn Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
7923000
aspn Contract With Customer Liability Deductions
ContractWithCustomerLiabilityDeductions
-9135000
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4634000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4900000
CY2023Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
22711000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
19877000
CY2023Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
10578000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2661000
CY2023Q2 us-gaap Inventory Net
InventoryNet
33289000
CY2022Q4 us-gaap Inventory Net
InventoryNet
22538000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
503805000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
389144000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
135535000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
129921000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
368270000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
259223000
us-gaap Depreciation
Depreciation
6200000
us-gaap Depreciation
Depreciation
4200000
aspn Capitalized Interest Net
CapitalizedInterestNet
7800000
CY2022 aspn Capitalized Interest Net
CapitalizedInterestNet
2700000
CY2023Q2 aspn Discount On Convertible Note Net Of Accumulated Amortization
DiscountOnConvertibleNoteNetOfAccumulatedAmortization
3628000
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
135000
CY2023Q2 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
109189000
us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
Interest on the 2022 Convertible Note is payable semi-annually in arrears on June 30 and December 30. The Company, at its option, is permitted to settle each semi-annual interest payment in cash, in-kind, or any combination thereof.
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7797000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
12467000
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2875000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3536000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10672000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16003000
CY2023Q2 aspn Convertible Debt Principal Amount
ConvertibleDebtPrincipalAmount
100000000
CY2023Q2 aspn Payment In Kind
PaymentInKind
12952000
CY2022Q2 aspn Contractual Interest Payment In Kind
ContractualInterestPaymentInKind
2900000
CY2022Q4 aspn Contractual Interest Payment In Kind
ContractualInterestPaymentInKind
4900000
CY2023Q2 aspn Contractual Interest Payment In Kind
ContractualInterestPaymentInKind
5100000
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
100000
aspn Purchase Price Of Notes Percentage
PurchasePriceOfNotesPercentage
1
aspn Cloud Computing Costs Included In Other Current Assets
CloudComputingCostsIncludedInOtherCurrentAssets
420000
CY2022 aspn Cloud Computing Costs Included In Other Current Assets
CloudComputingCostsIncludedInOtherCurrentAssets
420000
aspn Cloud Computing Costs Included In Other Assets
CloudComputingCostsIncludedInOtherAssets
1590000
CY2022 aspn Cloud Computing Costs Included In Other Assets
CloudComputingCostsIncludedInOtherAssets
1590000
aspn Amortization Of Cloud Computing Costs
AmortizationOfCloudComputingCosts
450000
CY2022 aspn Amortization Of Cloud Computing Costs
AmortizationOfCloudComputingCosts
242000
aspn Total Capitalized Cloud Computing Costs
TotalCapitalizedCloudComputingCosts
1560000
CY2022 aspn Total Capitalized Cloud Computing Costs
TotalCapitalizedCloudComputingCosts
1768000
aspn Operating Lease Expiry Year
OperatingLeaseExpiryYear
2034
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2616000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4395000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4235000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3922000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3659000
CY2023Q2 aspn Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
23018000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
41845000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
17300000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
24545000
us-gaap Operating Lease Cost
OperatingLeaseCost
2600000
us-gaap Operating Lease Cost
OperatingLeaseCost
1800000
us-gaap Operating Lease Payments
OperatingLeasePayments
2300000
us-gaap Operating Lease Payments
OperatingLeasePayments
1600000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y4M24D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.119
aspn Lessee Operating Lease Liability Payments Not Yet Commenced
LesseeOperatingLeaseLiabilityPaymentsNotYetCommenced
0
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-15423000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-24050000
us-gaap Net Income Loss
NetIncomeLoss
-32219000
us-gaap Net Income Loss
NetIncomeLoss
-43534000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69249281
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69249281
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35207975
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35207975
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69206249
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69206249
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34276083
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34276083
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.22
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.22
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.68
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.47
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.47
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.27
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10153391
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10153391
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8032636
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8032636
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48158000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
45640000
CY2023Q2 us-gaap Gross Profit
GrossProfit
8407000
CY2022Q2 us-gaap Gross Profit
GrossProfit
-1211000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93744000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
84047000
us-gaap Gross Profit
GrossProfit
13493000
us-gaap Gross Profit
GrossProfit
-2999000
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
25451000
CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
21435000
us-gaap Operating Expenses
OperatingExpenses
49445000
us-gaap Operating Expenses
OperatingExpenses
38271000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-17044000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-22646000
us-gaap Operating Income Loss
OperatingIncomeLoss
-35952000
us-gaap Operating Income Loss
OperatingIncomeLoss
-41270000
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1621000
CY2022Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1404000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3733000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2264000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-15423000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-24050000
us-gaap Net Income Loss
NetIncomeLoss
-32219000
us-gaap Net Income Loss
NetIncomeLoss
-43534000
CY2023Q2 us-gaap Assets
Assets
617074000
CY2022Q4 us-gaap Assets
Assets
643416000
ecd Trd Arr Ind Title
TrdArrIndTitle
directors or executive officers
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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