Aspen Aerogels, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
February 18, 2021 at 04:16 pm EST
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Aspen Aerogels, Inc. announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced total revenue was USD 23.018 million compared to USD 46.505 million a year ago. Operating loss was USD 6.131 million compared to USD 830,000 a year ago. Net loss was USD 6.189 million compared to USD 956,000 a year ago. Basic loss per share from continuing operations was USD 0.23 compared to USD 0.04 a year ago. For the full year, total revenue was USD 100.273 million compared to USD 139.375 million a year ago. Operating loss was USD 21.569 million compared to USD 14.159 million a year ago. Net loss was USD 21.809 million compared to USD 14.565 million a year ago. Basic loss per share from continuing operations was USD 0.83 compared to USD 0.6 a year ago.
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.