Aspen Aerogels, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 04:30 pm EDT
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Aspen Aerogels, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 60.76 million compared to USD 36.71 million a year ago. Net loss was USD 13.07 million compared to USD 29.6 million a year ago. Basic loss per share from continuing operations was USD 0.19 compared to USD 0.75 a year ago.
For the nine months, sales was USD 154.5 million compared to USD 120.75 million a year ago. Net loss was USD 45.29 million compared to USD 73.13 million a year ago. Basic loss per share from continuing operations was USD 0.65 compared to USD 2.03 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.
ASPEN AEROGELS, INC. 
