Aspen Aerogels Q3 revenue $117.3M (+93% YoY); raises FY24 outlook to $450M revenue

ASPEN AEROGELS INC

2024-Q3 EPS reported $0.03 revenue$329,611,000

Q3 revenue $117.3M, up from $60.8M YoY; thermal barrier contributed $90.6M.
Net loss $13.0M inclusive of $27.5M convertible note redemption charge; adj. net loss per share $0.11.
Adjusted EBITDA $25.4M, compared to $(7.3M) YoY; gross margin 42%.
FY 2024 guidance raised: revenue to $450M, net income $9M, Adj. EBITDA $90M.
Company completed financing to fully fund growth strategy.

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