$ASPN
ASPEN AEROGELS INC

2015 Q2 Form 10-Q Financial Statement

#000119312515179549 Filed on May 08, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $30.10M $23.50M $22.36M
YoY Change 13.08% 5.08% 31.51%
Cost Of Revenue $173.0K $141.0K $476.0K
YoY Change -49.12% -70.38% -97.2%
Gross Profit $5.109M $4.514M $3.346M
YoY Change 49.17% 34.91% 8705.26%
Gross Profit Margin 16.98% 19.21% 14.96%
Selling, General & Admin $6.256M $5.955M $4.960M
YoY Change -35.01% 20.06% 2.69%
% of Gross Profit 122.45% 131.92% 148.24%
Research & Development $1.551M $1.304M $1.284M
YoY Change -19.22% 1.56% 3.55%
% of Gross Profit 30.36% 28.89% 38.37%
Depreciation & Amortization $2.580M $2.184M $2.631M
YoY Change 1.18% -16.99% 6.52%
% of Gross Profit 50.5% 48.38% 78.63%
Operating Expenses $7.807M $7.259M $6.244M
YoY Change -32.38% 16.26% 3.04%
Operating Profit -$2.689M -$2.745M -$2.898M
YoY Change -66.89% -5.28% -51.9%
Interest Expense $45.00K $45.00K $16.15M
YoY Change -99.87% -99.72% 50.94%
% of Operating Profit
Other Income/Expense, Net -$45.00K -$45.00K -$16.15M
YoY Change -99.87% -99.72%
Pretax Income -$2.740M -$2.790M -$19.05M
YoY Change -93.5% -85.35% -1949.51%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.743M -$2.790M -$19.05M
YoY Change -93.49% -85.35% -1954.82%
Net Earnings / Revenue -9.11% -11.87% -85.18%
Basic Earnings Per Share -$0.12 -$0.12 -$6.066K
Diluted Earnings Per Share -$0.12 -$0.12 -$6.066K
COMMON SHARES
Basic Shares Outstanding 22.99M shares 22.99M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.08M $35.51M $1.200M
YoY Change -43.62% 2859.25%
Cash & Equivalents $29.58M $33.01M $1.155M
Short-Term Investments $2.504M $2.501M
Other Short-Term Assets $2.100M $1.200M $2.300M
YoY Change 90.91% -47.83%
Inventory $6.075M $5.905M $7.700M
Prepaid Expenses
Receivables $19.96M $19.26M $16.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $60.22M $61.87M $27.60M
YoY Change -26.58% 124.17%
LONG-TERM ASSETS
Property, Plant & Equipment $78.15M $79.52M $60.30M
YoY Change 32.09% 31.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $123.0K $130.0K $300.0K
YoY Change -59.41% -56.67%
Total Long-Term Assets $78.27M $79.65M $60.60M
YoY Change 31.63% 31.44%
TOTAL ASSETS
Total Short-Term Assets $60.22M $61.87M $27.60M
Total Long-Term Assets $78.27M $79.65M $60.60M
Total Assets $138.5M $141.5M $88.20M
YoY Change -2.12% 60.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.791M $13.39M $8.100M
YoY Change 10.36% 65.31%
Accrued Expenses $4.081M $3.325M $3.500M
YoY Change 4.16% -5.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $1.500M
YoY Change -100.0%
Long-Term Debt Due $100.0K $100.0K $18.60M
YoY Change 0.0% -99.46%
Total Short-Term Liabilities $16.52M $18.20M $32.70M
YoY Change 19.46% -44.33%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $100.0K $135.0M
YoY Change 0.0% -99.93%
Other Long-Term Liabilities $1.000M $1.000M $1.100M
YoY Change -9.09% -9.09%
Total Long-Term Liabilities $1.100M $1.100M $136.1M
YoY Change -8.33% -99.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.52M $18.20M $32.70M
Total Long-Term Liabilities $1.100M $1.100M $136.1M
Total Liabilities $17.61M $19.30M $168.8M
YoY Change 17.08% -88.57%
SHAREHOLDERS EQUITY
Retained Earnings -$404.6M -$401.9M
YoY Change 2.71%
Common Stock $525.5M $524.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $120.9M $122.2M -$80.70M
YoY Change
Total Liabilities & Shareholders Equity $138.5M $141.5M $88.20M
YoY Change -2.12% 60.45%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$2.743M -$2.790M -$19.05M
YoY Change -93.49% -85.35% -1954.82%
Depreciation, Depletion And Amortization $2.580M $2.184M $2.631M
YoY Change 1.18% -16.99% 6.52%
Cash From Operating Activities $3.020M -$3.660M $780.0K
YoY Change -611.86% -569.23% -116.56%
INVESTING ACTIVITIES
Capital Expenditures -$6.430M $10.53M $1.108M
YoY Change 489.91% 850.45% -249.73%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$2.500M
YoY Change
Cash From Investing Activities -$6.430M -$13.03M -$1.110M
YoY Change 489.91% 1073.87% 50.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.000K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.00K -20.00K -90.00K
YoY Change -100.03% -77.78% -100.96%
NET CHANGE
Cash From Operating Activities 3.020M -3.660M 780.0K
Cash From Investing Activities -6.430M -13.03M -1.110M
Cash From Financing Activities -20.00K -20.00K -90.00K
Net Change In Cash -3.430M -16.71M -420.0K
YoY Change -106.15% 3878.57% -110.71%
FREE CASH FLOW
Cash From Operating Activities $3.020M -$3.660M $780.0K
Capital Expenditures -$6.430M $10.53M $1.108M
Free Cash Flow $9.450M -$14.19M -$328.0K
YoY Change 1790.0% 4226.52% -91.74%

Facts In Submission

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CY2015Q1 dei Document Type
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10-Q
CY2015Q1 dei Entity Registrant Name
EntityRegistrantName
ASPEN AEROGELS INC
CY2015Q1 dei Trading Symbol
TradingSymbol
ASPN
CY2015Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2015Q1 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, sales returns and allowances, 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>
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CY2015Q1 dei Document Period End Date
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CY2015Q1 dei Entity Central Index Key
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0001145986
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InterestPaid
45000
CY2015Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1336000
CY2015Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
289000
CY2015Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1295000
CY2015Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2184000
CY2015Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1070000
CY2015Q1 us-gaap Interest Expense
InterestExpense
45000
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
7259000
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1304000
CY2015Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2332000
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-16709000
CY2015Q1 us-gaap Cost Of Services
CostOfServices
141000
CY2015Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-341000
CY2015Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
18845000
CY2015Q1 us-gaap Depreciation
Depreciation
2200000
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-19000
CY2015Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2263000
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-13032000
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3623000
CY2015Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-471000
CY2015Q1 aspn Number Of Subsidiaries
NumberOfSubsidiaries
2 Subsidiary
CY2015Q1 aspn Other Interest Income Expense
OtherInterestIncomeExpense
45000

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