Aspen Aerogels Q1 revenue falls 52% YoY to $37.9M; adjusted loss per share $0.28 vs $0.06 prior year

ASPEN AEROGELS INC

2026-Q1 EPS reported -$0.29 revenue$37,884,000

Revenue $37.9M, down from $78.7M; thermal barrier segment revenue dropped 67% to $16.3M on reduced customer demand.
Net loss $23.7M vs $301.2M (prior year included $286.6M impairment); adjusted net loss $23.3M vs $4.8M.
Adjusted EBITDA negative $12.7M vs positive $4.9M in prior year; cash balance $175.6M, up from $158.6M year-end.
Received $37.6M cash from GM commercial settlement; $3.5M recognized as revenue in Q1, remaining $4.9M/quarter through 2027.
East Providence manufacturing facility to have staged restart in May 2026; secured additional subsea pipeline award for Q3 delivery.

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