Monitor the strategic review outcome and GM settlement receipt in Q1 2026. The company's survival depends on cost discipline and successful restructuring given the sharp demand decline in its core EV thermal barrier segment.
Price Chart
Executive Summary
Aspen Aerogels reported a sharp decline in revenue and significant losses for Q4 and full year 2025, driven by reduced EV demand and regulatory changes. The company initiated a strategic review to improve its competitive position and expects a $37.6 million GM settlement in Q1 2026. Guidance for Q1 2026 indicates continued losses and soft thermal barrier volumes.
Key Financial Metrics
Key Facts
- Q4 2025 revenue was $41.3 million, down from $123.1 million in Q4 2024 (-66.4% YoY)
- Full year 2025 revenue was $271.1 million, down from $452.7 million in 2024 (-40.1% YoY)
- Net loss for 2025 was $389.6 million, including a $291.2 million impairment charge
- Company initiated a strategic review to strengthen long-term positioning
- Q1 2026 revenue guidance of $35-40 million and net loss of $20-23 million
Financial Impact
Revenue down 40% YoY, net loss of $389.6 million in 2025, $291.2 million impairment charge
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Thermal barrier | $168.9M | -45.0% |
| Energy Industrial | $102.2M | -30.0% |
Risk Factors
- Continued softness in EV demand and thermal barrier volumes
- Strategic review may not yield beneficial transactions
- High cash burn continues despite cost reductions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-001072 |
| Document: f8k_022526.htm | 0001171843-26-001072 |
| Document: 0001171843-26-001072-index-headers.html | 0001171843-26-001072 |
| Document: 0001171843-26-001072-index.html | 0001171843-26-001072 |
| Document: 0001171843-26-001072.txt | 0001171843-26-001072 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Press Release | $5.44 | awaiting T+1 | — | $5.18 (−4.78%) |
Oct 19, 2026 7d ago | SC 13G | $5.32 $5.33 | ▲ +0.19% | ▼ −0.15% | $5.18 (−2.63%) |
Sep 24, 2026 4w ago | SC 13D/A | $5.22 $5.17 | ▲ +0.96% | ▲ +0.21% | $5.18 (+0.77%) |
Sep 15, 2026 5w ago | 8-K | $4.86 $4.99 | ▲ +2.70% | ▲ +2.37% | $5.18 (+6.58%) |
Aug 15, 2026 10w ago | Institutional Cluster | $5.82 $5.58 | ▼ −4.12% | ▼ −3.45% | $5.18 (−11.00%) |
Apr 23, 2026 26w ago | Press Release | $3.36 $3.50 | ▲ +4.17% | ▲ +3.38% | $5.18 (+54.17%) |
Feb 25, 2026 34w ago | 8-K | $2.57 $3.14 | ▼ −22.18% | ▼ −22.72% | $5.18 (−101.56%) |
US Market Status
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