$ASPN
ASPEN AEROGELS INC

2014 Q4 Form 10-Q Financial Statement

#000119312514403308 Filed on November 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $27.98M $25.44M $24.23M
YoY Change 15.48% 16.26%
Cost Of Revenue $22.75M $439.0K $20.65M
YoY Change 10.17% -17.33%
Gross Profit $5.236M $5.072M $3.583M
YoY Change 46.13% 41.68%
Gross Profit Margin 18.71% 19.94% 14.79%
Selling, General & Admin $6.380M $6.179M $5.430M
YoY Change 17.5% -9.9%
% of Gross Profit 121.85% 121.83% 151.55%
Research & Development $1.520M $1.258M $1.360M
YoY Change 11.76% -9.3%
% of Gross Profit 29.03% 24.8% 37.96%
Depreciation & Amortization $2.490M $2.510M $2.630M
YoY Change -5.32% -49.4% -72.83%
% of Gross Profit 47.56% 49.49% 73.4%
Operating Expenses $7.900M $7.437M $6.790M
YoY Change 16.35% -9.8%
Operating Profit -$2.658M -$2.365M -$6.644M
YoY Change -59.99% -49.3%
Interest Expense -$100.0K -$100.0K -$10.70M
YoY Change -99.07%
% of Operating Profit
Other Income/Expense, Net $0.00 -$47.00K $390.0K
YoY Change -100.0% -99.42%
Pretax Income -$2.720M -$2.410M -$16.95M
YoY Change -83.95% -81.02%
Income Tax
% Of Pretax Income
Net Earnings -$2.714M -$2.412M -$16.95M
YoY Change -83.99% -69.99%
Net Earnings / Revenue -9.7% -9.48% -69.95%
Basic Earnings Per Share -$0.12 -$0.10 -$5.403K
Diluted Earnings Per Share -$0.12 -$0.10 -$5.403K
COMMON SHARES
Basic Shares Outstanding 22.99M shares 23.00M shares
Diluted Shares Outstanding 23.00M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $49.72M $53.70M $1.600M
YoY Change 3007.44% 23.08%
Cash & Equivalents $49.72M $53.65M $1.574M
Short-Term Investments $0.00
Other Short-Term Assets $800.0K $1.000M $800.0K
YoY Change 0.0% 100.0%
Inventory $4.897M $6.349M $6.892M
Prepaid Expenses
Receivables $17.92M $20.07M $18.76M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $73.38M $81.09M $28.02M
YoY Change 161.88% 25.65%
LONG-TERM ASSETS
Property, Plant & Equipment $71.49M $65.88M $62.02M
YoY Change 15.27% -14.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $175.0K $225.0K $191.0K
YoY Change -8.38% -52.25%
Total Long-Term Assets $71.67M $66.10M $62.21M
YoY Change 15.19% -14.78%
TOTAL ASSETS
Total Short-Term Assets $73.38M $81.09M $28.02M
Total Long-Term Assets $71.67M $66.10M $62.21M
Total Assets $145.0M $147.2M $90.23M
YoY Change 60.74% -5.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.20M $14.74M $7.114M
YoY Change 99.63% -21.82%
Accrued Expenses $5.588M $4.705M $4.814M
YoY Change 16.08% 78.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $1.000M
YoY Change -100.0% -23.08%
Long-Term Debt Due $100.0K $100.0K $17.80M
YoY Change -99.44%
Total Short-Term Liabilities $20.21M $21.01M $31.39M
YoY Change -35.62% 48.76%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $100.0K $119.7M
YoY Change -99.92% 10.12%
Other Long-Term Liabilities $1.030M $1.000M $1.071M
YoY Change -3.83%
Total Long-Term Liabilities $1.030M $1.100M $1.071M
YoY Change -3.83% -99.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.21M $21.01M $31.39M
Total Long-Term Liabilities $1.030M $1.100M $1.071M
Total Liabilities $21.33M $22.15M $152.2M
YoY Change -85.99% 17.26%
SHAREHOLDERS EQUITY
Retained Earnings -$399.1M -$396.4M -$332.8M
YoY Change 19.93%
Common Stock $522.8M $0.00 $270.8M
YoY Change 93.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 7.727K shares 0.000 shares
Shareholders Equity $123.7M $125.1M -$61.97M
YoY Change
Total Liabilities & Shareholders Equity $145.0M $147.2M $90.23M
YoY Change 60.74% -5.32%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income -$2.714M -$2.412M -$16.95M
YoY Change -83.99% -69.99%
Depreciation, Depletion And Amortization $2.490M $2.510M $2.630M
YoY Change -5.32% -49.4% -72.83%
Cash From Operating Activities $4.720M $1.740M $330.0K
YoY Change 1330.3% -118.69% -101.28%
INVESTING ACTIVITIES
Capital Expenditures -$8.630M -$2.410M -$1.650M
YoY Change 423.03% 156.38% -83.89%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$8.630M -$2.410M -$1.650M
YoY Change 423.03% 156.38% -83.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.00K -2.590M 980.0K
YoY Change -102.04% -137.54% -96.2%
NET CHANGE
Cash From Operating Activities 4.720M 1.740M 330.0K
Cash From Investing Activities -8.630M -2.410M -1.650M
Cash From Financing Activities -20.00K -2.590M 980.0K
Net Change In Cash -3.930M -3.260M -340.0K
YoY Change 1055.88% -2.69% -96.57%
FREE CASH FLOW
Cash From Operating Activities $4.720M $1.740M $330.0K
Capital Expenditures -$8.630M -$2.410M -$1.650M
Free Cash Flow $13.35M $4.150M $1.980M
YoY Change 574.24% -149.58% -112.66%

Facts In Submission

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us-gaap Line Of Credit Facility Initiation Date1
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dei Document Type
DocumentType
10-Q
dei Entity Registrant Name
EntityRegistrantName
ASPEN AEROGELS INC
dei Trading Symbol
TradingSymbol
ASPN
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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1930000
us-gaap Stockholders Equity Reverse Stock Split
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us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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, inventory valuation, the carrying amount of property and equipment, fair value of debt and capital stock, 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 the current economic environment, which it believes to be reasonable under the circumstances. Management adjusts such estimates and assumptions when facts and circumstances dictate. Illiquid credit markets, volatile equity markets and declines in business investment 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.</p> </div>
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
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invest Investment Warrants Expiration Date
InvestmentWarrantsExpirationDate
2023-03-28
dei Amendment Flag
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false
dei Current Fiscal Year End Date
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dei Document Fiscal Year Focus
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2014
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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8762866 shares
us-gaap Earnings Per Share Basic
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dei Entity Central Index Key
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dei Document Fiscal Period Focus
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6847000
us-gaap Cost Of Goods Sold
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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8762866 shares
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us-gaap Gross Profit
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us-gaap Sales Revenue Goods Net
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61000
us-gaap Repayments Of Long Term Debt
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18849000
us-gaap Sales Revenue Net
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74415000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
5500000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Debt Conversion Converted Instrument Amount1
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us-gaap Operating Income Loss
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us-gaap Nonoperating Income Expense
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us-gaap Income Taxes Paid
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us-gaap Payments Of Financing Costs
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32000
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aspn Unpaid Initial Public Offering Costs
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aspn Other Interest Income Expense
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CY2014Q3 aspn Other Interest Income Expense
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GeneralAndAdministrativeExpense
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