Highest-materiality recent filing
Aspen Aerogels begins staged restart of East Providence facility after April 8 incident
Restart initiated after comprehensive safety reviews with local, state, and federal agencies.
Aspen Aerogels Q1 revenue falls 52% YoY to $37.9M; adjusted loss per share $0.28 vs $0.06 prior year
Revenue $37.9M, down from $78.7M; thermal barrier segment revenue dropped 67% to $16.3M on reduced customer demand.
Aspen Aerogels: East Providence facility remains offline after April 8 explosion
Explosion damaged production space, origin traced to high-temperature oven.
Aspen Aerogels Q4 revenue drops 66% to $41.3M; net loss $72.9M; initiates strategic review
Q4 revenue $41.3M (-66% YoY); Thermal barrier $16.1M, Energy Industrial $25.3M.
Minimum liquidity threshold raised from greater of $50M and 85% of term loan to greater of $50M and 100%.
Aspen Aerogels Q3 revenue $73M (-38% YoY); lowers FY2025 outlook on slower EV production
Revenue $73.0M vs $117.3M in Q3 2024 (down 38%); net loss $6.3M improved from $13.0M loss last year.
Aspen Aerogels promotes Grant Thoele to CFO, effective Oct 1, 2025
Grant Thoele named CFO and Treasurer, succeeding Ricardo C. Rodriguez.
Aspen Aerogels Reports Q2 2025 Revenue of $78M, Net Loss of $9.1M, and CFO Transition
Total revenue for Q2 2025 was $78.0 million, down from $117.8 million in Q2 2024.
Aspen Aerogels Q1 revenue $78.7M, net loss $301.2M on $286.6M impairment
Total revenue $78.7M vs $94.5M in Q1 2024; operating cash flow $5.6M.
Aspen Aerogels stockholders approve amended equity plan and new ESPP at annual meeting
Amended 2023 Equity Incentive Plan reserves additional 3,850,000 shares; term extended to April 29, 2035.
Aspen Aerogels grants PSU awards to CEO and NEOs tied to relative TSR vs Russell 2000 for 2025-2027
CEO Donald Young receives 108,418 target PSUs; other NEOs get 49,426 to 79,719 target PSUs each.
Rebecca B. Blalock and Mark L. Noetzel will retire from the board effective immediately after the April 30, 2025 annual meeting.
Aspen Aerogels FY2024: Revenue $452.7M (+90% YoY), Net Income $13.4M
FY2024 revenue $452.7M (+90% YoY); net income $13.4M vs $45.8M loss in 2023.
Aspen Aerogels adopts amended Code of Business Conduct and Ethics
Board approved amended Code on Nov 14, 2024, replacing existing code in its entirety.
Aspen Aerogels Q3 revenue $117.3M (+93% YoY); raises FY24 outlook to $450M revenue
Q3 revenue $117.3M, up from $60.8M YoY; thermal barrier contributed $90.6M.
Aspen Aerogels prices public offering of 4.25M shares at $20/share for ~$85M gross proceeds
Priced public offering of 4,250,000 shares of common stock at $20.00 per share; gross proceeds ~$85M.
Aspen Aerogels gets conditional DOE loan up to $670.6M for second plant; Q3 rev $117M
DOE conditional commitment for loan of up to $670.6M under Advanced Technology Vehicles Manufacturing program.
CEO Donald Young signs new three-year employment agreement through Aug 2027
Base salary remains $515,000; annual cash bonus target is at least 110% of base.
Aspen Aerogels replaces $124M convertible note with $125M term loan and $100M revolver from MidCap
Closed $125M term loan and $100M asset-based revolver with MidCap Financial, maturing August 2029.
Aspen Aerogels appoints Cari Robinson to Board of Directors, effective Aug 14, 2024
Appointed Cari Robinson as Class I director, effective Aug 14, 2024, until 2027 annual meeting.
Aspen Aerogels Q2 revenue $117.8M (+145% YoY), net income $16.8M, raises 2024 outlook
Q2 revenue $117.8M, up 145% YoY and 25% QoQ; net income $16.8M vs loss of $15.4M YoY.
Aspen Aerogels wins Porsche 718 thermal barrier award; reaffirms 2024 outlook
PyroThin design award from Valmet Automotive for all-electric Porsche 718 (Cayman/Boxster); production expected in 2025.
Rebecca B. Blalock and James E. Sweetnam elected as Class I directors with 84.2% and 95.2% of votes cast, respectively, until 2027.
Aspen Aerogels Q1 revenue $94.5M, Adjusted EBITDA $12.9M, raises FY2024 EBITDA outlook 83%
Revenue $94.5M, up 107% YoY from $45.6M; net loss narrowed to $1.8M from $16.8M.
Aspen Aerogels cancels unearned performance shares for CEO and five other executives; $2.2M charge
CEO Donald Young's 304,666 unearned performance-based restricted shares cancelled; five other executives each lost 53,590 shares.
Aspen Aerogels Q4 revenue $84.2M (+41% YoY), gross margin 35%, adjusted EBITDA $9.1M
Q4 revenue $84.2M (+41% YoY), net loss $0.5M ($0.01 EPS) vs loss $9.6M a year ago.
Aspen Aerogels pre-announces FY2023 revenue $238M (+32% YoY); 2024 outlook $350M (+47%)
FY2023 revenue $238M (+32% YoY); Q4 revenue $84M (+38% QoQ).
Aspen Aerogels raises ~$75M through registered direct offering of 6.06M shares at $12.375/share
Sold 6,060,607 shares to institutional investors including Hood River Capital Management at $12.375/share.
Additional PyroThin EV Thermal Barrier award from ACC (Stellantis, Saft-TotalEnergies, Mercedes-Benz JV).
Aspen Aerogels amends bylaws for universal proxy rules and stockholder proposal mechanics
Bylaws updated to address SEC Rule 14a-19 universal proxy card requirements for director nominations.
Aspen Aerogels Q3 revenue record $60.8M; PyroThin revenue $32.8M up 160% QoQ
Record total revenue of $60.8M, up from $36.7M in Q3 2022.
Audi converts LOI into PyroThin supply award; vehicle production start in 2025.
Aspen Aerogels amends $500M+ GM loan; extends draw period, maturity, adds covenants
Draw period extended to March 31, 2024 from September 30, 2023 (start linked to GM's Plant production date).
Aspen Aerogels appoints Santhosh Daniel as Chief Accounting Officer effective Sept 13, 2023
Appointment of Santhosh Daniel (52) as Chief Accounting Officer, reporting to CFO Ricardo Rodriguez.
Aspen Aerogels grants 680,000 stock options to CEO and six executives
CEO Donald Young granted 170,000 stock options; six other executives each granted 85,000 options.
Aspen Aerogels appoints Stephanie Pittman as CHRO; Kelley Conte retires
Stephanie Pittman named Chief Human Resources Officer, effective September 5, 2023.
Aspen Aerogels Q2 net loss narrows to $15.4M; gross margin hits 17%, guidance improved
Revenue $48.2M, up from $45.6M YoY; net loss $15.4M vs $24.1M YoY; EPS -$0.22 vs -$0.68.
Aspen Aerogels terminates at-the-market equity offering program effective June 20, 2023
Termination of Sales Agreement with Cowen and Piper effective June 20, 2023.
Aspen Aerogels shareholders approve doubling of authorized shares to 250M and 2023 equity plan
Shareholders approved amendment increasing authorized common shares from 125M to 250M (48.8M for, 13.3M against).
Aspen Aerogels Q1 revenue $45.6M (+19% YoY); net loss narrows to $16.8M; reaffirms FY23 outlook
Revenue $45.6M vs $38.4M YoY; net loss $16.8M ($0.24 loss per share) vs $19.5M ($0.59) prior year.
Aspen Aerogels sues Beerenberg in Korea for patent infringement on aerogel products
Filed patent infringement suit in Seoul Central District Court and unfair trade practice action with Korea Trade Commission.
Aspen Aerogels Q4 revenue $59.6M (+90% YoY); FY2022 revenue $180.4M (+48%), net loss $82.7M
Q4 revenue $59.6M, up 90% YoY from $31.5M.
Base salaries set: Conte (HR) $300K; Landes (Ops) $400K; Rodriguez (CFO) $350K; Whitaker (Sales) $400K; Schilling (Tech) $400K; bonus targets 50-55% of base.
Aspen Aerogels prices public offering of 25.3M shares at $9.50/sh for ~$240M gross proceeds
Offering of 25,263,158 shares priced at $9.50 per share, expected gross proceeds of ~$240M.
Aspen Aerogels secures $100M GM loan for Georgia plant; cuts convertible note conversion price
Up to $100M senior secured term loan from GM Holdings for Phase 1 of Bulloch County, GA aerogel plant; interest at Term SOFR + 8% (cash) or +9% (PIK).
Board changes: Gervis resigns, Kool appointed to Aspen Aerogels board
Robert Gervis resigned as director and Compensation Committee chair effective Nov 1, 2022; not due to any disagreement.
Aspen Aerogels Q3 revenue up 21% YoY to $36.7M but net loss widens to $29.6M
Total revenue $36.7M in Q3 2022, compared to $30.4M in Q3 2021.
Aspen Aerogels appoints James Sweetnam to Board of Directors
James Sweetnam appointed Class I director effective August 2, 2022; board increases to eight members.
Aspen Aerogels publishes inaugural ESG report, targets carbon neutrality by 2035
Committed to carbon neutrality by 2035 for Scope 1 and Scope 2 emissions.
Aspen Aerogels Q2 revenue $45.6M (+44% YoY); net loss widens to $24.1M
Revenue $45.6M, up 44% from $31.7M in Q2 2021, driven by demand across all markets.
On May 13, 2026, the Board of Directors of Aspen Aerogels, Inc. (the “Company”) designated Grant Thoele as the Company’s principal accounting officer, effective immediately, in addition to his current roles as the Company’s Chief Financial Officer, Treasurer and principal financial officer.
On August 14, 2024, the Board of Directors (the “Board”) of Aspen Aerogels, Inc. (the “Company”) appointed Cari Robinson to join the Board to serve as a Class I director until the Company’s 2027 Annual Meeting of Stockholders.
On September 14, 2023, Aspen Aerogels, Inc. (the “Company”) announced that on September 11, 2023, the Board of Directors (the “Board”) appointed Santhosh Daniel as its Chief Accounting Officer and principal accounting officer, effective as of September 13, 2023.
On November 1, 2022, the Board appointed Kathleen M. Kool to join the Board to serve as a Class II director until the 2025 Annual Meeting of Stockholders and until her successor has been duly elected and qualified, or until her earlier death, resignation, retirement or removal.
On October 31, 2022, Robert M. Gervis, a member of the Board of Directors (the “Board”) of Aspen Aerogels, Inc. (the “Company”), notified the Company of his decision to resign from the Board, including as Chairperson of the Board’s Compensation and Leadership Development Committee and member of the Board’s Nominating, Governance and Sustainability Committee, effective as of 4:00 PM ET on Tuesday, November 1, 2022.
On August 2, 2022, the Board of Directors (the “Board”) of Aspen Aerogels, Inc. (the “Company”) appointed James E. Sweetnam to join the Board to serve as a Class I director until the 2024 Annual Meeting of Stockholders and until his successor has been duly elected and qualified, or until his earlier death, resignation, retirement or removal.
Mr. Fairbanks retired and resigned from his position as Vice President, Chief Financial Officer and Treasurer of the Company effective as of the Transition Date.
Effective April 1, 2022, the Company promoted Ricardo C. Rodriguez, Chief Strategy Officer, to the position of Senior Vice President, Chief Financial Officer and Treasurer.
In connection with Mr. Fairbanks’ retirement, the Company has announced that it intends to appoint Ricardo Rodriguez, Chief Strategy Officer of the Company, as Chief Financial Officer, effective April 1, 2022.
On January 13, 2022, John F. Fairbanks notified Aspen Aerogels, Inc. (the “Company”) of his intention to retire as Vice President, Treasurer and Chief Financial Officer of the Company, effective April 1, 2022.
Max materiality 0.85 · Median 0.65 · Most common event earnings