Aspen Aerogels, Inc. Provides Earnings Guidance for the Second Half and Full Year of 2020
July 30, 2020 at 04:15 pm EDT
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Aspen Aerogels, Inc. provided earnings guidance for the second half and full year of 2020. For the year, the company's total revenue is expected to range between $104 million and $110 million, net loss is expected to range between $17.7 million and $14.7 million and et loss per share is expected to range between $0.67 and $0.55. In April 2020, the company withdrew prior 2020 financial outlook due to the general uncertainty in the markets for products resulting from the COVID-19 pandemic and the potential impact of significant volatility in the global oil markets.
Looking forward to the second half of 2020, the company anticipates that contractor access issues at energy facilities will continue to reduce demand for products during the COVID-19 pandemic. While risks and uncertainties remain, the company currently expects that second half revenue will fall roughly in line with first half actuals with some potential for project-related upside. Accordingly, The company expects to experience a year-over-year decrease in revenue and increase in net loss during the second half of the year 2020.
Aspen Aerogels, Inc. is an aerogel technology company, which provides sustainability and electrification solutions. The Company's aerogel technology enables its customers and partners to achieve their own objectives around the global megatrends of resource efficiency, e-mobility and clean energy. Its segments include Energy Industrial and Thermal Barrier. Under Energy Industrial, it designs, develops and manufactures aerogel insulation used primarily in the energy industrial and sustainable insulation markets. The Company offers two aerogel insulation product lines for the energy industrial market, Pyrogel and Cryogel. Under Thermal Barrier segment, it offers PyroThin product, which is a thermal barrier designed with other functional layers to impede the propagation of thermal runaway across multiple lithium-ion battery system architectures. Its thermal barrier technology is designed to offer a combination of thermal management, mechanical performance, and fire protection properties.
ASPEN AEROGELS, INC. 
