$ASPN
ASPEN AEROGELS INC

2016 Q2 Form 10-Q Financial Statement

#000119312516581987 Filed on May 06, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $27.72M $32.82M $23.50M
YoY Change -7.9% 39.66% 5.08%
Cost Of Revenue $342.0K $302.0K $141.0K
YoY Change 97.69% 114.18% -70.38%
Gross Profit $6.653M $6.527M $4.514M
YoY Change 30.22% 44.59% 34.91%
Gross Profit Margin 24.0% 19.89% 19.21%
Selling, General & Admin $6.715M $6.975M $5.955M
YoY Change 7.34% 17.13% 20.06%
% of Gross Profit 100.93% 106.86% 131.92%
Research & Development $1.286M $1.310M $1.304M
YoY Change -17.09% 0.46% 1.56%
% of Gross Profit 19.33% 20.07% 28.89%
Depreciation & Amortization $2.420M $2.410M $2.184M
YoY Change -6.2% 10.35% -16.99%
% of Gross Profit 36.37% 36.92% 48.38%
Operating Expenses $8.001M $8.285M $7.259M
YoY Change 2.48% 14.13% 16.26%
Operating Profit -$1.348M -$1.758M -$2.745M
YoY Change -49.87% -35.96% -5.28%
Interest Expense -$39.00K -$39.00K $45.00K
YoY Change -186.67% -186.67% -99.72%
% of Operating Profit
Other Income/Expense, Net -$39.00K -$39.00K -$45.00K
YoY Change -13.33% -13.33% -99.72%
Pretax Income -$1.390M -$1.800M -$2.790M
YoY Change -49.27% -35.48% -85.35%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.387M -$1.797M -$2.790M
YoY Change -49.43% -35.59% -85.35%
Net Earnings / Revenue -5.0% -5.48% -11.87%
Basic Earnings Per Share -$0.06 -$0.08 -$0.12
Diluted Earnings Per Share -$0.06 -$0.08 -$0.12
COMMON SHARES
Basic Shares Outstanding 23.23M shares 23.18M shares 22.99M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.70M $29.40M $35.51M
YoY Change -38.59% -17.21% 2859.25%
Cash & Equivalents $19.74M $29.36M $33.01M
Short-Term Investments $2.501M
Other Short-Term Assets $1.600M $700.0K $1.200M
YoY Change -23.81% -41.67% -47.83%
Inventory $11.79M $6.139M $5.905M
Prepaid Expenses
Receivables $24.73M $23.21M $19.26M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $57.89M $59.41M $61.87M
YoY Change -3.86% -3.98% 124.17%
LONG-TERM ASSETS
Property, Plant & Equipment $81.15M $79.54M $79.52M
YoY Change 3.83% 0.02% 31.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $147.0K $94.00K $130.0K
YoY Change 19.51% -27.69% -56.67%
Total Long-Term Assets $81.29M $79.63M $79.65M
YoY Change 3.86% -0.02% 31.44%
TOTAL ASSETS
Total Short-Term Assets $57.89M $59.41M $61.87M
Total Long-Term Assets $81.29M $79.63M $79.65M
Total Assets $139.2M $139.0M $141.5M
YoY Change 0.5% -1.75% 60.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.21M $12.75M $13.39M
YoY Change 24.69% -4.82% 65.31%
Accrued Expenses $4.114M $3.441M $3.325M
YoY Change 0.81% 3.49% -5.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $100.0K $100.0K
YoY Change -100.0% 0.0% -99.46%
Total Short-Term Liabilities $16.82M $16.91M $18.20M
YoY Change 1.83% -7.1% -44.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $100.0K
YoY Change -100.0% -100.0% -99.93%
Other Long-Term Liabilities $341.0K $136.0K $1.000M
YoY Change -65.9% -86.4% -9.09%
Total Long-Term Liabilities $341.0K $136.0K $1.100M
YoY Change -69.0% -87.64% -99.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.82M $16.91M $18.20M
Total Long-Term Liabilities $341.0K $136.0K $1.100M
Total Liabilities $17.18M $17.08M $19.30M
YoY Change -2.44% -11.51% -88.57%
SHAREHOLDERS EQUITY
Retained Earnings -$408.7M -$407.3M -$401.9M
YoY Change 1.01% 1.35%
Common Stock $530.7M $529.3M $524.1M
YoY Change 0.99% 0.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $122.0M $122.0M $122.2M
YoY Change
Total Liabilities & Shareholders Equity $139.2M $139.0M $141.5M
YoY Change 0.5% -1.75% 60.45%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$1.387M -$1.797M -$2.790M
YoY Change -49.43% -35.59% -85.35%
Depreciation, Depletion And Amortization $2.420M $2.410M $2.184M
YoY Change -6.2% 10.35% -16.99%
Cash From Operating Activities -$5.000M -$210.0K -$3.660M
YoY Change -265.56% -94.26% -569.23%
INVESTING ACTIVITIES
Capital Expenditures -$4.600M $3.128M $10.53M
YoY Change -28.46% -70.3% 850.45%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$2.500M
YoY Change -100.0%
Cash From Investing Activities -$4.600M -$3.130M -$13.03M
YoY Change -28.46% -75.98% 1073.87%
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 -110.0K -20.00K
YoY Change 0.0% 450.0% -77.78%
NET CHANGE
Cash From Operating Activities -5.000M -210.0K -3.660M
Cash From Investing Activities -4.600M -3.130M -13.03M
Cash From Financing Activities -20.00K -110.0K -20.00K
Net Change In Cash -9.620M -3.450M -16.71M
YoY Change 180.47% -79.35% 3878.57%
FREE CASH FLOW
Cash From Operating Activities -$5.000M -$210.0K -$3.660M
Capital Expenditures -$4.600M $3.128M $10.53M
Free Cash Flow -$400.0K -$3.338M -$14.19M
YoY Change -104.23% -76.48% 4226.52%

Facts In Submission

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CY2016Q1 dei Document Type
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10-Q
CY2016Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001145986
CY2016Q1 dei Entity Filer Category
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Accelerated Filer
CY2016Q1 us-gaap Revenue Recognition Deferred Revenue
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Deferred Revenue</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company records deferred revenue for product sales when (i)&#xA0;the Company has delivered products but other revenue recognition criteria have not been satisfied, (ii)&#xA0;payments have been received in advance of products being delivered or (iii)&#xA0;amounts are billed in accordance with contractual terms in advance of products being delivered.</p> </div>
CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
ASPEN AEROGELS INC
CY2016Q1 dei Document Period End Date
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2016-03-31
CY2016Q1 us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <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, 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 are believed 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>
CY2016Q1 dei Trading Symbol
TradingSymbol
ASPN
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-105000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1310000
CY2016Q1 us-gaap Cost Of Services
CostOfServices
302000
CY2016Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2203000
CY2016Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-15000
CY2016Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1370000
CY2016Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
484000
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3913000
CY2016Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
25992000
CY2016Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
156000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1508000
CY2016Q1 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
292000
CY2016Q1 us-gaap Depreciation
Depreciation
2400000
CY2016Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2410000
CY2016Q1 aspn Number Of Subsidiaries
NumberOfSubsidiaries
2 Subsidiary
CY2016Q1 aspn Asset Retirement Obligation Reserve
AssetRetirementObligationReserve
200000

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