$ASPN
ASPEN AEROGELS INC

2018 Q1 Form 10-Q Financial Statement

#000156459018010787 Filed on May 04, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $23.07M $23.00M
YoY Change 0.31% -29.92%
Cost Of Revenue $20.26M $311.0K
YoY Change 6414.47% 2.98%
Gross Profit $2.810M $2.221M
YoY Change 26.52% -65.97%
Gross Profit Margin 12.18% 9.66%
Selling, General & Admin $7.955M $9.697M
YoY Change -17.96% 39.03%
% of Gross Profit 283.1% 436.61%
Research & Development $1.605M $1.576M
YoY Change 1.84% 20.31%
% of Gross Profit 57.12% 70.96%
Depreciation & Amortization $3.200M $2.676M
YoY Change 19.58% 11.04%
% of Gross Profit 113.88% 120.49%
Operating Expenses $9.560M $11.27M
YoY Change -15.2% 36.07%
Operating Profit -$6.750M -$9.052M
YoY Change -25.43% 414.9%
Interest Expense -$92.00K -$26.00K
YoY Change 253.85% -33.33%
% of Operating Profit
Other Income/Expense, Net -$92.00K -$26.00K
YoY Change 253.85% -33.33%
Pretax Income -$6.840M -$9.080M
YoY Change -24.67% 404.44%
Income Tax
% Of Pretax Income
Net Earnings -$6.842M -$9.078M
YoY Change -24.63% 405.18%
Net Earnings / Revenue -29.65% -39.47%
Basic Earnings Per Share
Diluted Earnings Per Share -$290.2K -$390.4K
COMMON SHARES
Basic Shares Outstanding 23.64M 23.37M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.600M $11.20M
YoY Change -14.29% -61.9%
Cash & Equivalents $9.615M $11.23M
Short-Term Investments
Other Short-Term Assets $1.100M $1.200M
YoY Change -8.33% 71.43%
Inventory $10.00M $15.13M
Prepaid Expenses
Receivables $20.10M $17.25M
Other Receivables $0.00 $0.00
Total Short-Term Assets $40.80M $44.80M
YoY Change -8.93% -24.59%
LONG-TERM ASSETS
Property, Plant & Equipment $73.30M $82.72M
YoY Change -11.39% 4.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $97.00K
YoY Change 3.09% 3.19%
Total Long-Term Assets $73.40M $82.82M
YoY Change -11.37% 4.0%
TOTAL ASSETS
Total Short-Term Assets $40.80M $44.80M
Total Long-Term Assets $73.40M $82.82M
Total Assets $114.2M $127.6M
YoY Change -10.51% -8.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.000M $14.17M
YoY Change -50.6% 11.17%
Accrued Expenses $3.900M $4.112M
YoY Change -5.16% 19.5%
Deferred Revenue
YoY Change
Short-Term Debt $3.800M $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $15.70M $19.10M
YoY Change -17.8% 12.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.700M $1.100M
YoY Change 236.36% 708.82%
Total Long-Term Liabilities $3.700M $1.100M
YoY Change 236.36% 708.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.70M $19.10M
Total Long-Term Liabilities $3.700M $1.100M
Total Liabilities $19.50M $20.20M
YoY Change -3.47% 18.28%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $94.73M $107.4M
YoY Change
Total Liabilities & Shareholders Equity $114.2M $127.6M
YoY Change -10.5% -8.23%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$6.842M -$9.078M
YoY Change -24.63% 405.18%
Depreciation, Depletion And Amortization $3.200M $2.676M
YoY Change 19.58% 11.04%
Cash From Operating Activities -$2.398M -$4.420M
YoY Change -45.75% 2004.76%
INVESTING ACTIVITIES
Capital Expenditures $677.0K $2.146M
YoY Change -68.45% -31.39%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$677.0K -$2.150M
YoY Change -68.51% -31.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.996M -290.0K
YoY Change -788.28% 163.64%
NET CHANGE
Cash From Operating Activities -2.398M -4.420M
Cash From Investing Activities -677.0K -2.150M
Cash From Financing Activities 1.996M -290.0K
Net Change In Cash -1.079M -6.860M
YoY Change -84.27% 98.84%
FREE CASH FLOW
Cash From Operating Activities -$2.398M -$4.420M
Capital Expenditures $677.0K $2.146M
Free Cash Flow -$3.075M -$6.566M
YoY Change -53.17% 96.7%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
23002000
CY2017Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
20470000
CY2017Q1 us-gaap Cost Of Services
CostOfServices
311000
CY2017Q1 us-gaap Gross Profit
GrossProfit
2221000
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1576000
CY2017Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3110000
CY2017Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6587000
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
11273000
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-9052000
CY2017Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-26000
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-26000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-9078000
CY2017Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.39
CY2018Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-204000
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23257541
CY2017Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2676000
CY2017Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1244000
CY2018Q1 aspn Lease Incentives Premiums And Discounts Net
LeaseIncentivesPremiumsAndDiscountsNet
30000
CY2017Q1 aspn Lease Incentives Premiums And Discounts Net
LeaseIncentivesPremiumsAndDiscountsNet
22000
CY2018Q1 aspn Accretion Of Prepayment Discount
AccretionOfPrepaymentDiscount
10000
CY2017Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1000
CY2018Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-6630000
CY2017Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-442000
CY2018Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1059000
CY2017Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2264000
CY2017Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-497000
CY2018Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3340000
CY2017Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2238000
CY2018Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1923000
CY2017Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
125000
CY2018Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-345000
CY2017Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-254000
CY2018Q1 aspn Increase Decrease In Deferred Rent Credit Noncurrent
IncreaseDecreaseInDeferredRentCreditNoncurrent
-10000
CY2017Q1 aspn Increase Decrease In Deferred Rent Credit Noncurrent
IncreaseDecreaseInDeferredRentCreditNoncurrent
-22000
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-2398000
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-4419000
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
677000
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2146000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-677000
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2146000
CY2018Q1 aspn Proceeds From Customer Advances
ProceedsFromCustomerAdvances
2500000
CY2017Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
7000
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
504000
CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
286000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
1996000
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-293000
CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1079000
CY2017Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-6858000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18086000
CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
11228000
CY2018Q1 us-gaap Interest Paid
InterestPaid
99000
CY2017Q1 us-gaap Interest Paid
InterestPaid
40000
CY2018Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-281000
CY2017Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1134000
CY2018Q1 aspn Non Cash Or Part Non Cash Deferred Revenue
NonCashOrPartNonCashDeferredRevenue
548000
CY2018Q1 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>
CY2018Q1 aspn Number Of Subsidiaries
NumberOfSubsidiaries
3
CY2018Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2018Q1 aspn Standard Product Warranty Period
StandardProductWarrantyPeriod
P1Y
CY2018Q1 us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
0
CY2017Q1 us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
900000
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
23074000
CY2017Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
2888000
CY2018Q1 aspn Contract With Customer Asset Additions
ContractWithCustomerAssetAdditions
1018000
CY2018Q1 aspn Contract With Customer Asset Deductions
ContractWithCustomerAssetDeductions
-3443000
CY2018Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
463000
CY2017Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1304000
CY2018Q1 aspn Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
1025000
CY2018Q1 aspn Contract With Customer Liability Deductions
ContractWithCustomerLiabilityDeductions
-822000
CY2018Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1507000
CY2018Q1 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
200000
CY2018Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2447000
CY2018Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7527000
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
158631000
CY2018Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
85339000
CY2018Q1 us-gaap Depreciation
Depreciation
3200000
CY2018Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2770000
CY2018Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1169000
CY2018Q1 aspn Customer Advances Gross
CustomerAdvancesGross
2500000
CY2018Q1 aspn Discount On Customer Advances
DiscountOnCustomerAdvances
548000
CY2018Q1 aspn Accretion Of Discount Expense
AccretionOfDiscountExpense
10000
CY2017Q4 us-gaap Deferred Rent Credit
DeferredRentCredit
1511000
CY2018Q1 us-gaap Deferred Rent Credit
DeferredRentCredit
1472000
CY2018Q1 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
209000
CY2017Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
208000
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4011280
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3491030

Files In Submission

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0001564590-18-010787.txt Edgar Link pending
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aspn-10q_20180331.htm Edgar Link pending
aspn-20180331.xml Edgar Link completed
aspn-20180331.xsd Edgar Link pending
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aspn-20180331_def.xml Edgar Link unprocessable
aspn-20180331_lab.xml Edgar Link unprocessable
aspn-20180331_pre.xml Edgar Link unprocessable
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