$ASPN
ASPEN AEROGELS INC

2016 Q3 Form 10-Q Financial Statement

#000156459017021338 Filed on November 03, 2017

View on sec.gov

Income Statement

Concept 2016 Q3
Revenue $29.56M
YoY Change -6.27%
Cost Of Revenue $368.0K
YoY Change 5.14%
Gross Profit $6.402M
YoY Change 23.78%
Gross Profit Margin 21.66%
Selling, General & Admin $7.478M
YoY Change 15.01%
% of Gross Profit 116.81%
Research & Development $1.328M
YoY Change 15.88%
% of Gross Profit 20.74%
Depreciation & Amortization $2.470M
YoY Change -7.14%
% of Gross Profit 38.58%
Operating Expenses $8.806M
YoY Change 15.14%
Operating Profit -$2.404M
YoY Change -2.91%
Interest Expense -$37.00K
YoY Change -19.57%
% of Operating Profit
Other Income/Expense, Net -$693.0K
YoY Change 1406.52%
Pretax Income -$3.100M
YoY Change 23.02%
Income Tax
% Of Pretax Income
Net Earnings -$3.097M
YoY Change 22.8%
Net Earnings / Revenue -10.48%
Basic Earnings Per Share -$0.13
Diluted Earnings Per Share -$0.13
COMMON SHARES
Basic Shares Outstanding 23.31M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.10M
YoY Change -29.58%
Cash & Equivalents $21.13M
Short-Term Investments
Other Short-Term Assets $1.800M
YoY Change 0.0%
Inventory $12.90M
Prepaid Expenses
Receivables $19.63M
Other Receivables $0.00
Total Short-Term Assets $55.49M
YoY Change -11.81%
LONG-TERM ASSETS
Property, Plant & Equipment $81.91M
YoY Change 5.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $79.00K
YoY Change -21.0%
Total Long-Term Assets $81.98M
YoY Change 5.75%
TOTAL ASSETS
Total Short-Term Assets $55.49M
Total Long-Term Assets $81.98M
Total Assets $137.5M
YoY Change -2.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.54M
YoY Change 20.33%
Accrued Expenses $4.145M
YoY Change -7.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $16.48M
YoY Change -19.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities $703.0K
YoY Change 191.7%
Total Long-Term Liabilities $703.0K
YoY Change 191.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.48M
Total Long-Term Liabilities $703.0K
Total Liabilities $17.20M
YoY Change -17.51%
SHAREHOLDERS EQUITY
Retained Earnings -$411.8M
YoY Change 1.14%
Common Stock $532.1M
YoY Change 1.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $120.3M
YoY Change
Total Liabilities & Shareholders Equity $137.5M
YoY Change -2.12%

Cashflow Statement

Concept 2016 Q3
OPERATING ACTIVITIES
Net Income -$3.097M
YoY Change 22.8%
Depreciation, Depletion And Amortization $2.470M
YoY Change -7.14%
Cash From Operating Activities $3.840M
YoY Change 585.71%
INVESTING ACTIVITIES
Capital Expenditures -$2.260M
YoY Change -6.61%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.260M
YoY Change -2925.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -190.0K
YoY Change -26.92%
NET CHANGE
Cash From Operating Activities 3.840M
Cash From Investing Activities -2.260M
Cash From Financing Activities -190.0K
Net Change In Cash 1.390M
YoY Change 265.79%
FREE CASH FLOW
Cash From Operating Activities $3.840M
Capital Expenditures -$2.260M
Free Cash Flow $6.100M
YoY Change 104.7%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-771000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8032000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3982000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-944000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-999000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1124000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6370000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-224000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-189000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-478000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-17000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
752000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.27
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23114280
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
72000
CY2016Q3 aspn Postponed Financing Costs
PostponedFinancingCosts
656000
aspn Postponed Financing Costs
PostponedFinancingCosts
656000
aspn Increase Decrease In Deferred Rent Credit Noncurrent
IncreaseDecreaseInDeferredRentCreditNoncurrent
-128000
us-gaap Net Income Loss
NetIncomeLoss
-6281000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-4950000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-5423000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-9994000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
6000000
aspn Lease Incentives Premiums And Discounts Net
LeaseIncentivesPremiumsAndDiscountsNet
80000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
6000000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2189000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
565000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1366000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5423000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9994000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
23000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
55000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
385000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
196000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
64000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-408000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-315000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-10781000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-11675000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32804000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21129000
us-gaap Interest Paid
InterestPaid
151000
us-gaap Interest Paid
InterestPaid
153000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-3701000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
602000
aspn Increase Decrease In Building Lease Incentives
IncreaseDecreaseInBuildingLeaseIncentives
268000
aspn Increase Decrease In Deferred Financing Cost
IncreaseDecreaseInDeferredFinancingCost
-592000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
241000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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, 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 warrant. 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>
aspn Number Of Subsidiaries
NumberOfSubsidiaries
3
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1364000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1474000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
aspn Standard Product Warranty Period
StandardProductWarrantyPeriod
P1Y
us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
900000
us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
500000
CY2017Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3031000
CY2016Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3511000
CY2017Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
10961000
CY2016Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
9357000
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
157987000
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
156378000
CY2017Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
79914000
CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
71984000
us-gaap Depreciation
Depreciation
8000000
us-gaap Depreciation
Depreciation
7300000
CY2017Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3165000
CY2016Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2796000
CY2017Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1520000
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1191000
CY2017Q3 us-gaap Lease Incentive Payable Current And Noncurrent
LeaseIncentivePayableCurrentAndNoncurrent
1100000
CY2017Q3 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
400000
CY2017Q3 us-gaap Deferred Rent Credit
DeferredRentCredit
1539000
CY2016Q4 us-gaap Deferred Rent Credit
DeferredRentCredit
1125000
CY2017Q3 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
207000
CY2016Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
154000
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3463667
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2875238
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3463667
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2875238

Files In Submission

Name View Source Status
0001564590-17-021338-index-headers.html Edgar Link pending
0001564590-17-021338-index.html Edgar Link pending
0001564590-17-021338.txt Edgar Link pending
0001564590-17-021338-xbrl.zip Edgar Link pending
aspn-10q_20170930.htm Edgar Link pending
aspn-20170930.xml Edgar Link completed
aspn-20170930.xsd Edgar Link pending
aspn-20170930_cal.xml Edgar Link unprocessable
aspn-20170930_def.xml Edgar Link unprocessable
aspn-20170930_lab.xml Edgar Link unprocessable
aspn-20170930_pre.xml Edgar Link unprocessable
aspn-ex101_290.htm Edgar Link pending
aspn-ex311_7.htm Edgar Link pending
aspn-ex312_6.htm Edgar Link pending
aspn-ex32_8.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending