Aspen Aerogels Releases Financial Outlook and DOE Loan Expectations

Aspen Aerogels, Inc. has released its latest financial report, which includes forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements, based on current expectations, estimates, and projections, involve risks and uncertainties that could result in actual outcomes differing materially from historical or anticipated results. Key phrases such as "may," "will," "could," "anticipate," and "predict" are used to highlight these forward-looking statements.

The company has expressed expectations regarding the receipt and utilization of a loan from the Department of Energy (DOE), which is anticipated to cover the remaining capital expenditures (CAPEX) needed for the completion of the Register Plant. Additionally, Aspen Aerogels projects that the DOE loan will support its path to profitability in the electric vehicle (EV) market and facilitate job creation through the construction and operation of the Register Plant.

However, these projections are subject to various risks, including the possibility of not securing the DOE loan, challenges in executing the growth plan, and potential cost overruns. Other risks involve the cancellation of contracts by EV thermal barrier customers, market demand fluctuations, and general economic conditions.

The financial report also includes a reconciliation of non-GAAP financial measures, specifically Adjusted EBITDA. For the three months ending September 30, 2024, Aspen Aerogels reported a net loss of $13 million, with adjustments for depreciation, stock-based compensation, and other expenses leading to an Adjusted EBITDA of $25 million.

Aspen Aerogels emphasizes that all forward-looking statements are made as of the date of the press release and are subject to change unless legally required updates are necessary.