$ASPN
ASPEN AEROGELS INC

2024 Q3 Form 10-Q Financial Statement

#000095017024094005 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $117.3M $117.8M
YoY Change 93.14% 144.55%
Cost Of Revenue $68.30M $66.19M
YoY Change 45.48% 66.52%
Gross Profit $49.04M $51.58M
YoY Change 255.13% 513.51%
Gross Profit Margin 41.8% 43.8%
Selling, General & Admin $27.05M $27.03M
YoY Change 11.67% 25.78%
% of Gross Profit 55.16% 52.4%
Research & Development $4.591M $4.565M
YoY Change 8.84% 15.16%
% of Gross Profit 9.36% 8.85%
Depreciation & Amortization $5.321M $5.986M
YoY Change 16.95% 70.54%
% of Gross Profit 10.85% 11.61%
Operating Expenses $31.64M $31.59M
YoY Change 11.25% 24.13%
Operating Profit $17.40M $19.99M
YoY Change -218.9% -217.26%
Interest Expense -$1.147M $741.0K
YoY Change -187.36% -59.55%
% of Operating Profit -6.59% 3.71%
Other Income/Expense, Net -$30.10M -$2.302M
YoY Change -2028.44% -242.01%
Pretax Income -$12.70M $17.68M
YoY Change -2.81% -214.68%
Income Tax $267.0K $866.0K
% Of Pretax Income 4.9%
Net Earnings -$12.97M $16.82M
YoY Change -0.79% -209.04%
Net Earnings / Revenue -11.05% 14.28%
Basic Earnings Per Share -$0.17 $0.22
Diluted Earnings Per Share -$0.17 $0.21
COMMON SHARES
Basic Shares Outstanding 77.08M 76.16M
Diluted Shares Outstanding 76.26M 78.98M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $113.5M $91.38M
YoY Change 19.97% -31.96%
Cash & Equivalents $113.5M $91.40M
Short-Term Investments
Other Short-Term Assets $29.74M $27.20M
YoY Change 75.96% 66.86%
Inventory $47.43M $53.03M
Prepaid Expenses
Receivables $115.2M $116.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $305.9M $288.5M
YoY Change 52.65% 26.53%
LONG-TERM ASSETS
Property, Plant & Equipment $451.6M $438.0M
YoY Change 17.28% 18.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.789M $3.448M
YoY Change 103.35% 44.39%
Total Long-Term Assets $476.7M $460.1M
YoY Change 17.78% 18.26%
TOTAL ASSETS
Total Short-Term Assets $305.9M $288.5M
Total Long-Term Assets $476.7M $460.1M
Total Assets $782.6M $748.6M
YoY Change 29.32% 21.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.28M $57.25M
YoY Change 13.92% 19.11%
Accrued Expenses $26.53M $19.68M
YoY Change 58.93% 84.45%
Deferred Revenue $2.405M $3.095M
YoY Change -55.98% -33.21%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $26.25M $1.254M
YoY Change
Total Short-Term Liabilities $104.3M $83.43M
YoY Change 70.26% 27.13%
LONG-TERM LIABILITIES
Long-Term Debt $146.9M $124.3M
YoY Change 31.04% 13.83%
Other Long-Term Liabilities $23.74M $23.07M
YoY Change 7.92% 3.47%
Total Long-Term Liabilities $170.6M $147.4M
YoY Change 27.25% 12.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $104.3M $83.43M
Total Long-Term Liabilities $170.6M $147.4M
Total Liabilities $274.9M $230.8M
YoY Change 40.75% 17.1%
SHAREHOLDERS EQUITY
Retained Earnings -$671.6M -$658.6M
YoY Change -0.22% -0.21%
Common Stock $1.179B $1.176B
YoY Change 8.9% 8.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $507.7M $517.8M
YoY Change
Total Liabilities & Shareholders Equity $782.6M $748.6M
YoY Change 29.32% 21.32%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$12.97M $16.82M
YoY Change -0.79% -209.04%
Depreciation, Depletion And Amortization $5.321M $5.986M
YoY Change 16.95% 70.54%
Cash From Operating Activities $20.77M $6.843M
YoY Change -376.95% -189.1%
INVESTING ACTIVITIES
Capital Expenditures $20.82M $24.83M
YoY Change -35.5% -62.39%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$20.82M -$24.83M
YoY Change -35.5% -62.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 22.16M 8.141M
YoY Change 18365.0% 5715.0%
NET CHANGE
Cash From Operating Activities 20.77M 6.843M
Cash From Investing Activities -20.82M -24.83M
Cash From Financing Activities 22.16M 8.141M
Net Change In Cash 22.11M -9.843M
YoY Change -155.74% -86.62%
FREE CASH FLOW
Cash From Operating Activities $20.77M $6.843M
Capital Expenditures $20.82M $24.83M
Free Cash Flow -$50.00K -$17.98M
YoY Change -99.87% -75.6%

Facts In Submission

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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4977000
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
6810000
aspn Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-1223000
aspn Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-1405000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
47073000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-13255000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
13841000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10751000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
12806000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6512000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
17514000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1407000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4957000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-5331000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
779000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1212000
aspn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-1038000
aspn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-1158000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10906000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-32331000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
50690000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
115390000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50690000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-115390000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
10084000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
171000
aspn Proceeds From Sale And Leaseback Transactions
ProceedsFromSaleAndLeasebackTransactions
4982000
aspn Repayment Of Finance Obligation For Sale And Leaseback Transactions
RepaymentOfFinanceObligationForSaleAndLeasebackTransactions
504000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1134000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
393000
aspn Payments Of Fees And Issuance Costs From Private Placement Of Common Stock
PaymentsOfFeesAndIssuanceCostsFromPrivatePlacementOfCommonStock
28000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13400000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-222000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-48196000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-147943000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
139971000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
282561000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
91775000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
134618000
us-gaap Interest Paid Net
InterestPaidNet
23000
us-gaap Interest Paid Net
InterestPaidNet
1000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2483000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9879000
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
5122000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-11362000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-5258000
aspn Number Of Subsidiaries
NumberOfSubsidiaries
3
aspn Period Of Option To Purchase
PeriodOfOptionToPurchase
P18M
us-gaap Net Income Loss
NetIncomeLoss
15000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10900000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
50700000
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
91400000
CY2024Q1 us-gaap Sale Leaseback Transaction Date
SaleLeasebackTransactionDate
January 2024
CY2024Q1 us-gaap Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
5000000
CY2024Q1 us-gaap Sale Leaseback Transaction Lease Term
SaleLeasebackTransactionLeaseTerm
P3Y
us-gaap Use Of Estimates
UseOfEstimates
<p style="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-size:10pt;font-family:Times New Roman;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>
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
400000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="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-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 six months ended June 30, 2024, the Company recorded an increase for estimated customer uncollectible accounts receivable of </span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">0.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million. 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="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million.</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-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the six months ended June 30, 2024 and 2023</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">71</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">42</span><span style="color:#000000;white-space:pre-wrap;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-size:10pt;font-family:Times New Roman;min-width:fit-content;">At June 30, 2024</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">74</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of accounts receivable. At December 31, 2023, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">60</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">6</span><span style="color:#000000;white-space:pre-wrap;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-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
100000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
117770000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48158000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
117770000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48158000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
212271000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93744000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
212271000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93744000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2316000
aspn Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
5277000
aspn Contract With Customer Liability Deductions
ContractWithCustomerLiabilityDeductions
-4498000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3095000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1200000
CY2024Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
21724000
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
24735000
CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
11273000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
7936000
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
20033000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
6518000
CY2024Q2 us-gaap Inventory Net
InventoryNet
53030000
CY2023Q4 us-gaap Inventory Net
InventoryNet
39189000
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
588331000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
558516000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
150358000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
141289000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
437973000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
417227000
us-gaap Depreciation
Depreciation
11800000
us-gaap Depreciation
Depreciation
6200000
CY2024Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
800000
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
6800000
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
6800000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
2700000
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11935000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
16876000
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7749000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5935000
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
19684000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22811000
CY2024Q2 aspn Convertible Debt Principal Amount
ConvertibleDebtPrincipalAmount
100000000
CY2023Q4 aspn Convertible Debt Principal Amount
ConvertibleDebtPrincipalAmount
100000000
CY2024Q2 aspn Payment In Kind
PaymentInKind
23938000
CY2023Q4 aspn Payment In Kind
PaymentInKind
18318000
CY2024Q2 aspn Discount On Convertible Note Net Of Accumulated Amortization
DiscountOnConvertibleNoteNetOfAccumulatedAmortization
2766000
CY2023Q4 aspn Discount On Convertible Note Net Of Accumulated Amortization
DiscountOnConvertibleNoteNetOfAccumulatedAmortization
3209000
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
98000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
117000
CY2024Q2 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
121074000
CY2023Q4 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
114992000
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
CY2023Q4 aspn Contractual Interest Payment In Kind
ContractualInterestPaymentInKind
5400000
CY2024Q2 aspn Contractual Interest Payment In Kind
ContractualInterestPaymentInKind
5600000
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
100000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1300000
aspn Purchase Price Of Notes Percentage
PurchasePriceOfNotesPercentage
1
aspn Cloud Computing Costs Included In Other Current Assets
CloudComputingCostsIncludedInOtherCurrentAssets
994000
CY2023 aspn Cloud Computing Costs Included In Other Current Assets
CloudComputingCostsIncludedInOtherCurrentAssets
420000
aspn Cloud Computing Costs Included In Other Assets
CloudComputingCostsIncludedInOtherAssets
2159000
CY2023 aspn Cloud Computing Costs Included In Other Assets
CloudComputingCostsIncludedInOtherAssets
1590000
aspn Amortization Of Cloud Computing Costs
AmortizationOfCloudComputingCosts
1016000
CY2023 aspn Amortization Of Cloud Computing Costs
AmortizationOfCloudComputingCosts
662000
aspn Total Capitalized Cloud Computing Costs
TotalCapitalizedCloudComputingCosts
2137000
CY2023 aspn Total Capitalized Cloud Computing Costs
TotalCapitalizedCloudComputingCosts
1348000
CY2024Q1 aspn Charge Recognized In Cost Of Revenues For Inventory Obsolescence And Impairment Of Equipment
ChargeRecognizedInCostOfRevenuesForInventoryObsolescenceAndImpairmentOfEquipment
6800000
CY2024Q1 aspn Contractual Recoverable Amount
ContractualRecoverableAmount
1900000
CY2024Q2 aspn Reimbursement Received From Cost Of Revenues For Inventory Obsolescence And Impairment Of Equipment
ReimbursementReceivedFromCostOfRevenuesForInventoryObsolescenceAndImpairmentOfEquipment
4200000
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
243200000
us-gaap Investment Company Committed Capital
InvestmentCompanyCommittedCapital
185700000
us-gaap Longterm Purchase Commitment Period
LongtermPurchaseCommitmentPeriod
P3Y
aspn Operating Lease Expiry Year
OperatingLeaseExpiryYear
2034
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2478000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5045000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4697000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4437000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4599000
CY2024Q2 aspn Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
19338000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
40594000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
15369000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
25225000
us-gaap Operating Lease Cost
OperatingLeaseCost
2700000
us-gaap Operating Lease Cost
OperatingLeaseCost
2600000
us-gaap Operating Lease Payments
OperatingLeasePayments
2600000
us-gaap Operating Lease Payments
OperatingLeasePayments
2300000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y4M24D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.121
CY2024Q1 aspn Sale And Leaseback Transaction One Time Cash Payment
SaleAndLeasebackTransactionOneTimeCashPayment
5000000
CY2024Q2 aspn Outstanding Finance Obligation
OutstandingFinanceObligation
4500000
CY2024Q1 us-gaap Sale Leaseback Transaction Lease Term
SaleLeasebackTransactionLeaseTerm
P3Y
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2971000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2710000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7677000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4977000
aspn Unamortized Stock Based Compensation Costs
UnamortizedStockBasedCompensationCosts
2200000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
16818000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-15423000
us-gaap Net Income Loss
NetIncomeLoss
14983000
us-gaap Net Income Loss
NetIncomeLoss
-32219000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76336811
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69249281
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76049852
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69206249
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78981383
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69249281
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78749199
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69206249
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.22
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.2
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.47
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.47
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4271655
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
4299503
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10153391
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
117770000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48158000
CY2024Q2 us-gaap Gross Profit
GrossProfit
51578000
CY2023Q2 us-gaap Gross Profit
GrossProfit
8407000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
212271000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93744000
us-gaap Gross Profit
GrossProfit
86721000
us-gaap Gross Profit
GrossProfit
13493000
CY2024Q2 us-gaap Operating Expenses
OperatingExpenses
31592000
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
25451000
us-gaap Operating Expenses
OperatingExpenses
64299000
us-gaap Operating Expenses
OperatingExpenses
49445000
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
19986000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-17044000
us-gaap Operating Income Loss
OperatingIncomeLoss
22422000
us-gaap Operating Income Loss
OperatingIncomeLoss
-35952000
CY2024Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2302000
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1621000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5817000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3733000
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
866000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1622000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
16818000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-15423000
us-gaap Net Income Loss
NetIncomeLoss
14983000
us-gaap Net Income Loss
NetIncomeLoss
-32219000
CY2024Q2 us-gaap Assets
Assets
748629000
CY2023Q4 us-gaap Assets
Assets
703048000
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
aspn Rule10 B51 Arr Modified Flag
Rule10B51ArrModifiedFlag
false
aspn Non Rule10 B51 Arr Modified Flag
NonRule10B51ArrModifiedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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