$ASPN
ASPEN AEROGELS INC

2017 Q2 Form 10-Q Financial Statement

#000156459018018993 Filed on August 03, 2018

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q4
Revenue $25.07M $27.64M
YoY Change -9.56% -26.07%
Cost Of Revenue $254.0K $23.91M
YoY Change -25.73% -13.15%
Gross Profit $3.694M $3.729M
YoY Change -44.48% -62.15%
Gross Profit Margin 14.74% 13.49%
Selling, General & Admin $7.420M $8.060M
YoY Change 10.5% 16.47%
% of Gross Profit 200.87% 216.14%
Research & Development $1.709M $1.380M
YoY Change 32.89% 10.4%
% of Gross Profit 46.26% 37.01%
Depreciation & Amortization $2.630M $2.550M
YoY Change 8.68% 3.24%
% of Gross Profit 71.2% 68.38%
Operating Expenses $1.709M $9.440M
YoY Change -78.64% 15.54%
Operating Profit -$5.433M -$5.710M
YoY Change 303.04% -439.07%
Interest Expense -$39.00K -$30.00K
YoY Change 0.0% -40.0%
% of Operating Profit
Other Income/Expense, Net -$39.00K
YoY Change 0.0%
Pretax Income -$5.470M -$5.740M
YoY Change 293.53% -450.0%
Income Tax
% Of Pretax Income
Net Earnings -$5.472M -$5.742M
YoY Change 294.52% -450.55%
Net Earnings / Revenue -21.83% -20.77%
Basic Earnings Per Share
Diluted Earnings Per Share -$234.1K -$247.2K
COMMON SHARES
Basic Shares Outstanding 23.51M 23.37M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.000M $18.09M
YoY Change -64.47% -44.87%
Cash & Equivalents $6.951M $18.09M
Short-Term Investments $0.00
Other Short-Term Assets $1.300M $1.700M
YoY Change -18.75% 0.0%
Inventory $13.30M $12.87M
Prepaid Expenses
Receivables $16.50M $17.54M
Other Receivables $0.00 $0.00
Total Short-Term Assets $38.00M $50.19M
YoY Change -34.36% -18.59%
LONG-TERM ASSETS
Property, Plant & Equipment $80.50M $84.39M
YoY Change -0.8% 7.75%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $89.00K
YoY Change -31.97% -15.24%
Total Long-Term Assets $80.70M $84.48M
YoY Change -0.73% 7.72%
TOTAL ASSETS
Total Short-Term Assets $38.00M $50.19M
Total Long-Term Assets $80.70M $84.48M
Total Assets $118.7M $134.7M
YoY Change -14.72% -3.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.400M $13.07M
YoY Change -31.19% 22.29%
Accrued Expenses $4.800M $3.987M
YoY Change 16.67% -28.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $13.98M $18.13M
YoY Change -16.89% 4.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.300M $971.0K
YoY Change 281.23% 543.05%
Total Long-Term Liabilities $1.300M $971.0K
YoY Change 281.23% 543.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.98M $18.13M
Total Long-Term Liabilities $1.300M $971.0K
Total Liabilities $15.31M $19.11M
YoY Change -10.85% 8.55%
SHAREHOLDERS EQUITY
Retained Earnings -$432.4M -$417.5M
YoY Change 5.8% 2.96%
Common Stock $535.7M $533.1M
YoY Change 0.95% 0.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $103.3M $115.6M
YoY Change
Total Liabilities & Shareholders Equity $118.7M $134.7M
YoY Change -14.75% -3.86%

Cashflow Statement

Concept 2017 Q2 2016 Q4
OPERATING ACTIVITIES
Net Income -$5.472M -$5.742M
YoY Change 294.52% -450.55%
Depreciation, Depletion And Amortization $2.630M $2.550M
YoY Change 8.68% 3.24%
Cash From Operating Activities -$1.580M $790.0K
YoY Change -68.4% -85.48%
INVESTING ACTIVITIES
Capital Expenditures -$2.680M -$3.230M
YoY Change -41.74% 25.19%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.680M -$3.230M
YoY Change -41.74% 25.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K -600.0K
YoY Change -50.0% 2900.0%
NET CHANGE
Cash From Operating Activities -1.580M 790.0K
Cash From Investing Activities -2.680M -3.230M
Cash From Financing Activities -10.00K -600.0K
Net Change In Cash -4.270M -3.040M
YoY Change -55.61% -207.04%
FREE CASH FLOW
Cash From Operating Activities -$1.580M $790.0K
Capital Expenditures -$2.680M -$3.230M
Free Cash Flow $1.100M $4.020M
YoY Change -375.0% -49.88%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21671000
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
25069000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
44745000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6526000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10589000
us-gaap Profit Loss
ProfitLoss
-14550000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5306000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2618000
aspn Lease Incentives Premiums And Discounts Net
LeaseIncentivesPremiumsAndDiscountsNet
49000
aspn Accretion Of Prepayment Discount
AccretionOfPrepaymentDiscount
43000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-6658000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1518000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3907000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
387000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-106000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-349000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2208000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1272000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1138000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
813000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
109000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-237000
aspn Increase Decrease In Deferred Rent Credit Noncurrent
IncreaseDecreaseInDeferredRentCreditNoncurrent
-22000
aspn Increase Decrease In Deferred Rent Credit Noncurrent
IncreaseDecreaseInDeferredRentCreditNoncurrent
-111000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6247000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6003000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1657000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4831000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1657000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4831000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
12116000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
12116000
aspn Proceeds From Customer Advances
ProceedsFromCustomerAdvances
5000000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
15000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
504000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
286000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4496000
CY2018Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
3750000
CY2017Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
3750000
CY2018Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1540000
CY2017Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1304000
CY2018Q2 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
1235000
CY2018Q2 us-gaap Customer Advances Noncurrent
CustomerAdvancesNoncurrent
3989000
CY2018Q2 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
927000
CY2017Q4 us-gaap Liabilities
Liabilities
22872000
CY2017Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q4 us-gaap Common Stock Value
CommonStockValue
0
CY2017Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
538088000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-437145000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
100943000
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
123815000
CY2017Q4 aspn Allowance For Doubtful Accounts Receivable And Sales Return Reserve
AllowanceForDoubtfulAccountsReceivableAndSalesReturnReserve
93000
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000
CY2017Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
23643189
CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
23643189
us-gaap Operating Income Loss
OperatingIncomeLoss
-14485000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-65000
us-gaap Operating Expenses
OperatingExpenses
20400000
us-gaap Profit Loss
ProfitLoss
-13800000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1150000
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1374000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48071000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2286000
aspn Lease Incentives Premiums And Discounts Net
LeaseIncentivesPremiumsAndDiscountsNet
60000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5686000
us-gaap Interest Paid Net
InterestPaidNet
141000
us-gaap Interest Paid Net
InterestPaidNet
89000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-65000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23313668
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3285000
us-gaap Net Income Loss
NetIncomeLoss
-14550000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.62
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1229000
aspn Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
2544000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4633000
CY2018Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1071000
aspn Number Of Subsidiaries
NumberOfSubsidiaries
3
CY2017Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3613877
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4093032
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-301000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-3408000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-11135000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18086000
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6951000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-50000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-3385000
aspn Non Cash Or Part Non Cash Deferred Revenue
NonCashOrPartNonCashDeferredRevenue
1036000
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
9000
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>
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
0
us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
900000
CY2017Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
2888000
aspn Contract With Customer Asset Additions
ContractWithCustomerAssetAdditions
2256000
aspn Contract With Customer Asset Deductions
ContractWithCustomerAssetDeductions
-4789000
CY2018Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
355000
CY2017Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1304000
aspn Contract With Customer Liability Deductions
ContractWithCustomerLiabilityDeductions
-1381000
CY2018Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2467000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
200000
CY2018Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3020000
CY2017Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2543000
CY2018Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
9802000
CY2017Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
6372000
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
159832000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
158597000
CY2018Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
87844000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
82530000
us-gaap Depreciation
Depreciation
5700000
us-gaap Depreciation
Depreciation
5300000
CY2018Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3639000
CY2018Q2 aspn Customer Advances Gross
CustomerAdvancesGross
5000000
CY2018Q2 aspn Discount On Customer Advances
DiscountOnCustomerAdvances
1054000
CY2018Q2 aspn Accretion Of Discount Expense
AccretionOfDiscountExpense
43000
CY2018Q2 us-gaap Deferred Revenue
DeferredRevenue
2467000
CY2017Q4 us-gaap Deferred Revenue
DeferredRevenue
1304000
CY2018Q2 us-gaap Deferred Rent Credit
DeferredRentCredit
1429000
CY2017Q4 us-gaap Deferred Rent Credit
DeferredRentCredit
1511000
CY2018Q2 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
194000
CY2017Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
208000
CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4093032
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3613877

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aspn-10q_20180630.htm Edgar Link pending
aspn-20180630.xml Edgar Link completed
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