$ASPN
ASPEN AEROGELS INC

2023 Q4 Form 10-Q Financial Statement

#000095017023058227 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $84.22M $60.76M
YoY Change 41.28% 65.52%
Cost Of Revenue $54.60M $46.95M
YoY Change 20.59% 9.01%
Gross Profit $29.62M $13.81M
YoY Change 106.63% -317.17%
Gross Profit Margin 35.17% 22.73%
Selling, General & Admin $24.16M $24.23M
YoY Change 22.0% 40.39%
% of Gross Profit 81.57% 175.42%
Research & Development $4.075M $4.218M
YoY Change -2.91% -10.14%
% of Gross Profit 13.76% 30.54%
Depreciation & Amortization $4.558M $4.550M
YoY Change 80.16% 79.77%
% of Gross Profit 15.39% 32.95%
Operating Expenses $28.24M $28.44M
YoY Change 17.65% 29.59%
Operating Profit $1.383M -$14.63M
YoY Change -114.31% -48.31%
Interest Expense -$1.902M $1.313M
YoY Change -3436.84% -202.1%
% of Operating Profit -137.53%
Other Income/Expense, Net $0.00 $1.561M
YoY Change -221.38%
Pretax Income -$519.0K -$13.07M
YoY Change -94.6% -55.84%
Income Tax
% Of Pretax Income
Net Earnings -$519.0K -$13.07M
YoY Change -94.6% -55.83%
Net Earnings / Revenue -0.62% -21.52%
Basic Earnings Per Share -$0.19
Diluted Earnings Per Share -$0.01 -$0.19
COMMON SHARES
Basic Shares Outstanding 70.26M 70.21M
Diluted Shares Outstanding 69.32M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $139.7M $94.60M
YoY Change -50.34% -7.62%
Cash & Equivalents $139.7M $94.60M
Short-Term Investments
Other Short-Term Assets $17.42M $16.90M
YoY Change 105.91% 174.4%
Inventory $39.19M $34.42M
Prepaid Expenses
Receivables $70.00M $54.41M
Other Receivables $0.00 $0.00
Total Short-Term Assets $266.3M $200.4M
YoY Change -27.96% 28.21%
LONG-TERM ASSETS
Property, Plant & Equipment $434.4M $385.0M
YoY Change 67.59% 70.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.278M $2.355M
YoY Change -9.53% -12.91%
Total Long-Term Assets $436.7M $404.8M
YoY Change 59.54% 76.65%
TOTAL ASSETS
Total Short-Term Assets $266.3M $200.4M
Total Long-Term Assets $436.7M $404.8M
Total Assets $703.0M $605.1M
YoY Change 9.27% 57.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $51.09M $37.12M
YoY Change -6.64% -36.36%
Accrued Expenses $24.69M $16.69M
YoY Change 54.25% 9.27%
Deferred Revenue $2.316M $5.463M
YoY Change -60.38% 131.88%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $78.10M $61.26M
YoY Change -1.08% -24.33%
LONG-TERM LIABILITIES
Long-Term Debt $115.0M $112.1M
YoY Change 11.02% 6.54%
Other Long-Term Liabilities $21.91M $22.00M
YoY Change 62.8% 30.7%
Total Long-Term Liabilities $136.9M $134.1M
YoY Change 16.97% 9.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $78.10M $61.26M
Total Long-Term Liabilities $136.9M $134.1M
Total Liabilities $215.0M $195.3M
YoY Change 9.7% -3.78%
SHAREHOLDERS EQUITY
Retained Earnings -$673.6M -$673.1M
YoY Change 7.3% 8.88%
Common Stock $1.162B $1.083B
YoY Change 8.04% 35.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $488.1M $409.8M
YoY Change
Total Liabilities & Shareholders Equity $703.0M $605.1M
YoY Change 9.27% 57.01%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$519.0K -$13.07M
YoY Change -94.6% -55.83%
Depreciation, Depletion And Amortization $4.558M $4.550M
YoY Change 80.16% 79.77%
Cash From Operating Activities $15.18M -$7.500M
YoY Change -163.05% -79.98%
INVESTING ACTIVITIES
Capital Expenditures $27.79M $32.28M
YoY Change -52.61% -148.19%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $98.29M -$32.28M
YoY Change -267.66% -51.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -268.0K 120.0K
YoY Change -100.1% -99.73%
NET CHANGE
Cash From Operating Activities 15.18M -7.500M
Cash From Investing Activities 98.29M -32.28M
Cash From Financing Activities -268.0K 120.0K
Net Change In Cash 113.2M -39.66M
YoY Change -37.17% -33.66%
FREE CASH FLOW
Cash From Operating Activities $15.18M -$7.500M
Capital Expenditures $27.79M $32.28M
Free Cash Flow -$12.60M -$39.78M
YoY Change -84.76% -234.69%

Facts In Submission

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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
8613000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6771000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3055000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-420000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
481000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
691000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1918000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-383000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1035000
aspn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-1845000
aspn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-1721000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-39833000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-70319000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
147669000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
119348000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-147669000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-119348000
aspn Proceeds From Issuance Of Convertible Note Related Party
ProceedsFromIssuanceOfConvertibleNoteRelatedParty
100000000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
445000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
174000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
402000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2340000
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
50000000
aspn Payments Of Fees And Issuance Costs From Private Placement Of Common Stock
PaymentsOfFeesAndIssuanceCostsFromPrivatePlacementOfCommonStock
139000
aspn Payments Of Fees And Issuance Costs From Private Placement Of Common Stock
PaymentsOfFeesAndIssuanceCostsFromPrivatePlacementOfCommonStock
137000
aspn Contract With Customer Prepayment Liability Repayment
ContractWithCustomerPrepaymentLiabilityRepayment
4728000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-96000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
215501000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-187598000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
25834000
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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
94963000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
102398000
us-gaap Interest Paid Net
InterestPaidNet
1000
us-gaap Interest Paid Net
InterestPaidNet
130000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9994000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5857000
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
6084000
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
1277000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-17193000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
40402000
aspn Number Of Subsidiaries
NumberOfSubsidiaries
3
us-gaap Net Income Loss
NetIncomeLoss
-45300000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-39800000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
147700000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
94600000
aspn Period Of Option To Purchase
PeriodOfOptionToPurchase
P18M
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">estimates </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain prior year amounts have been reclassified to conform to the current year presentation.</span></p>
CY2023Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
300000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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 nine months ended September 30, 2023, the Company recorded a reduction for estimated customer uncollectible accounts receivable of less than </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">0.1</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million. During the nine months ended September 30, 2022</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company recorded a reduction for estimated customer uncollectible accounts receivable of less than $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">0.1</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the nine months ended September 30, 2023 and 2022</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customers represented </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">50</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">44</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of total revenue, respectively.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">At September 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer which accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">61</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of accounts receivable. At December 31, 2022, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customers which accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">44</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">10</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of accounts receivable, respectively.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2789000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2590000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7766000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6713000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60755000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36706000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60755000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36706000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
154499000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
120753000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
154499000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
120753000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
143000
aspn Contract With Customer Asset Deductions
ContractWithCustomerAssetDeductions
-143000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5846000
aspn Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
14308000
aspn Contract With Customer Liability Deductions
ContractWithCustomerLiabilityDeductions
-14691000
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5463000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5700000
CY2023Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
22361000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
19876000
CY2023Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
11015000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2204000
CY2023Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1045000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
458000
CY2023Q3 us-gaap Inventory Net
InventoryNet
34421000
CY2022Q4 us-gaap Inventory Net
InventoryNet
22538000
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
524079000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
389144000
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
139053000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
129921000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
385026000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
259223000
us-gaap Depreciation
Depreciation
10800000
us-gaap Depreciation
Depreciation
6700000
aspn Capitalized Interest Net
CapitalizedInterestNet
8800000
CY2022 aspn Capitalized Interest Net
CapitalizedInterestNet
2700000
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
14001000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
12467000
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2693000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3536000
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16694000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16003000
CY2023Q3 aspn Convertible Debt Principal Amount
ConvertibleDebtPrincipalAmount
100000000
CY2023Q3 aspn Payment In Kind
PaymentInKind
12952000
CY2023Q3 aspn Accrued Interest
AccruedInterest
2683000
CY2023Q3 aspn Discount On Convertible Note Net Of Accumulated Amortization
DiscountOnConvertibleNoteNetOfAccumulatedAmortization
3422000
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
125000
CY2023Q3 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
112088000
us-gaap Operating Lease Cost
OperatingLeaseCost
2900000
us-gaap Operating Lease Payments
OperatingLeasePayments
3600000
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.
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
CY2023Q3 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
556000
CY2022 aspn Amortization Of Cloud Computing Costs
AmortizationOfCloudComputingCosts
242000
aspn Total Capitalized Cloud Computing Costs
TotalCapitalizedCloudComputingCosts
1454000
CY2022 aspn Total Capitalized Cloud Computing Costs
TotalCapitalizedCloudComputingCosts
1768000
aspn Operating Lease Expiry Year
OperatingLeaseExpiryYear
2034
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1254000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4431000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4271000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3958000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3683000
CY2023Q3 aspn Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
23018000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
40615000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
16642000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
23973000
us-gaap Operating Lease Cost
OperatingLeaseCost
4200000
us-gaap Operating Lease Payments
OperatingLeasePayments
2600000
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y3M18D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.119
aspn Lessee Operating Lease Liability Payments Not Yet Commenced
LesseeOperatingLeaseLiabilityPaymentsNotYetCommenced
0
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-13073000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-29595000
us-gaap Net Income Loss
NetIncomeLoss
-45292000
us-gaap Net Income Loss
NetIncomeLoss
-73129000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69317805
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69317805
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39533695
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39533695
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69243843
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69243843
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36047879
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36047879
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.75
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.75
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.65
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.65
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.03
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10782071
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10782071
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8121862
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8121862
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60755000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36706000
CY2023Q3 us-gaap Gross Profit
GrossProfit
13810000
CY2022Q3 us-gaap Gross Profit
GrossProfit
-6359000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
154499000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
120753000
us-gaap Gross Profit
GrossProfit
27303000
us-gaap Gross Profit
GrossProfit
-9358000
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
28444000
CY2022Q3 us-gaap Operating Expenses
OperatingExpenses
21950000
us-gaap Operating Expenses
OperatingExpenses
77889000
us-gaap Operating Expenses
OperatingExpenses
60221000
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-14634000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-28309000
us-gaap Operating Income Loss
OperatingIncomeLoss
-50586000
us-gaap Operating Income Loss
OperatingIncomeLoss
-69579000
CY2023Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1561000
CY2022Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1286000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
5294000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3550000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-13073000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-29595000
us-gaap Net Income Loss
NetIncomeLoss
-45292000
us-gaap Net Income Loss
NetIncomeLoss
-73129000
CY2023Q3 us-gaap Assets
Assets
605146000
CY2022Q4 us-gaap Assets
Assets
643416000
CY2020Q4 aspn Cares Act Refundable Tax Credit Percentage
CaresActRefundableTaxCreditPercentage
0.50
CY2020Q4 aspn Cares Act Qualified Wages Per Employee For Refundable Tax Credit
CaresActQualifiedWagesPerEmployeeForRefundableTaxCredit
10000
CY2021Q4 aspn Cares Act Refundable Tax Credit Percentage
CaresActRefundableTaxCreditPercentage
0.70
CY2021Q4 aspn Cares Act Qualified Wages Per Employee For Refundable Tax Credit
CaresActQualifiedWagesPerEmployeeForRefundableTaxCredit
10000
CY2023Q3 ecd Trd Arr Ind Title
TrdArrIndTitle
directors or executive officers
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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aspn-20230930_cal.xml Edgar Link unprocessable
aspn-20230930_lab.xml Edgar Link unprocessable
aspn-20230930_def.xml Edgar Link unprocessable
0000950170-23-058227-index-headers.html Edgar Link pending
0000950170-23-058227-index.html Edgar Link pending
0000950170-23-058227.txt Edgar Link pending
0000950170-23-058227-xbrl.zip Edgar Link pending
aspn-20230930.htm Edgar Link pending
aspn-20230930.xsd Edgar Link pending
aspn-ex10_1.htm Edgar Link pending
aspn-ex10_2.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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aspn-20230930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
aspn-20230930_htm.xml Edgar Link completed
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