Aspen Aerogels raises FY 2023 revenue guidance to >$225M; secures Audi PyroThin award, names Scania as OEM partner

ASPEN AEROGELS INC

Audi converts LOI into PyroThin supply award; vehicle production start in 2025.
Scania identified as the previously unnamed Volkswagen Group commercial vehicle award.
FY 2023 revenue guidance raised to >$225M from prior $200-250M range.
Net loss guidance narrowed to $52.4-62.4M; Adjusted EBITDA to ($30M)-($40M).
Company on track to achieve six confirmed OEM awards by end of 2023.

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