{"id":959485,"date":"2026-05-07T06:33:07","date_gmt":"2026-05-07T10:33:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/aspen-aerogels-inc-reports-first-quarter-2026-financial-results-and-recent-business-highlights\/"},"modified":"2026-05-07T06:33:07","modified_gmt":"2026-05-07T10:33:07","slug":"aspen-aerogels-inc-reports-first-quarter-2026-financial-results-and-recent-business-highlights","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/aspen-aerogels-inc-reports-first-quarter-2026-financial-results-and-recent-business-highlights\/","title":{"rendered":"Aspen Aerogels, Inc. Reports First Quarter 2026 Financial Results and Recent Business Highlights"},"content":{"rendered":"
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\n East Providence manufacturing facility expected to have a staged restart beginning in May<\/em>
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\n $175.6 million quarter-end cash balance;<\/em>
\n up from $158.6 million at year-end 2025<\/em>
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\n Secured an additional subsea pipeline award to be delivered in Q3 2026<\/em>\n <\/p>\n

NORTHBOROUGH, Mass., May 07, 2026 (GLOBE NEWSWIRE) — Aspen Aerogels, Inc. (NYSE: ASPN) (\u201cAspen\u201d or the \u201cCompany\u201d), a technology leader in sustainability and electrification solutions, today announced financial results for the first quarter of 2026, and discussed recent business developments.<\/p>\n

\n First Quarter 2026 Results <\/strong>
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Total revenue for the first quarter of 2026 was $37.9 million, compared to $78.7 million in the prior year period. During the first quarter of 2026, the Company received $37.6 million in cash from General Motors related to a commercial settlement, of which $3.5 million was recognized as revenue in the first quarter. The remainder has been recorded as deferred revenue, with approximately $4.9 million to be recognized as revenue quarterly through the end of 2027. Thermal barrier segment revenue was $16.3 million, compared to $48.9 million in the prior year period, reflecting a significant reduction in customer demand following changes in regulatory frameworks and incentive programs. Energy Industrial segment revenue was $21.6 million, compared to $29.8 million in the prior year period.<\/p>\n

Net loss was $23.7 million, compared to net loss of $301.2 million in the prior year period. Results for the first quarter of 2026 included $0.4 million of restructuring and demobilization costs. Results for the first quarter of 2025 included a $286.6 million impairment charge related to the Company’s previously planned second manufacturing facility in Statesboro, Georgia, and $9.8 million in restructuring and demobilization costs. Excluding these items, adjusted net loss was $23.3 million, compared to adjusted net loss of $4.8 million in the prior year period.<\/p>\n

Net loss per share was $0.29, compared to net loss per share of $3.67 in the prior year period. Excluding the items described above, adjusted net loss per share was $0.28, compared to adjusted net loss per share of $0.06 in the prior year period.<\/p>\n

Adjusted EBITDA was $(12.7) million, compared to $4.9 million in the prior year period.<\/p>\n

A reconciliation of non-GAAP financial results to GAAP financial results is provided in the financial schedules that are part of this press release. An explanation of these non-GAAP financial measures is also included below under the heading \u201cNon-GAAP Financial Measures.\u201d<\/p>\n

\n East Providence Manufacturing Facility & Supply Strategy Update<\/strong>
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On April 8, 2026, there was an explosion at Aspen\u2019s manufacturing facility in East Providence, Rhode Island. The investigation confirmed that the event occurred in a specific high-temperature oven, resulting in damage to a portion of the facility\u2019s production space, requiring the temporary cessation of operations. Aspen is working closely with local, state, and federal agencies to bring the facility back online safely and believes a staged restart of operations will begin in May. The final timeline will depend on the progress of our ongoing mechanical, operational, and safety reviews, as well as obtaining clearance from relevant authorities.<\/p>\n

“We are immensely grateful that no employees were seriously injured in the incident. We are also appreciative of the professional work of first responders that night. In the time since, our team has made significant progress. Their work has been instrumental in creating a clear path forward for our East Providence facility,” said Don Young, President and CEO. “We also deeply value the close cooperation of East Providence and Rhode Island public officials.”<\/p>\n

To date, the Company has utilized existing inventory and leveraged the capacity of its external manufacturing facility to help support customer demand.<\/p>\n

Mr. Young added, \u201cWhile it will take time to restore East Providence to its full capabilities, we are working closely with our external manufacturing facility to enhance its production capabilities to support both our Energy Industrial and Thermal Barrier segments. These efforts are intended to develop both near- and long-term supply flexibility, strengthening our operational resilience and reinforcing our commitment to customers.\u201d<\/p>\n

\n Recent Business Highlights & Financial Performance<\/strong>\n <\/p>\n