Aspen Aerogels Q4 revenue drops 66% to $41.3M; net loss $72.9M; initiates strategic review

ASPEN AEROGELS INC

2025-FY EPS reported -$4.73 revenue$271,103,000

Q4 revenue $41.3M (-66% YoY); Thermal barrier $16.1M, Energy Industrial $25.3M.
Net loss $72.9M vs income $11.4M; adjusted net loss $27.7M. Full year net loss $389.6M includes $291.2M impairment on Statesboro plant.
Full year revenue $271.1M (down 40% YoY); adjusted EBITDA $2.9M vs $89.9M.
Cash $158.6M at year-end; expects $37.6M GM commercial settlement payment in Q1 2026.
Initiated strategic review to strengthen long-term competitive positioning; North Sea subsea pipeline award.

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