olivLaw · US equity research
Aspen Aerogels, Inc. ASPN
Wholesale-Lumber & Other Construction Materials · SIC 5030 · Vertical: Wholesale-Lumber & Other Construction Materials (SIC 5030)
Aspen Aerogels makes aerogel insulation for the energy industry and thermal barriers for electric vehicle batteries. The company reported revenue of 271.1 million USD for fiscal 2025, but its 2026 quarterly figures show a decline in the Thermal Barrier segment, in the context of an incident at its East Providence plant. Understanding the trend requires looking both at US regulatory changes and at the ramp of its OEM programmes.
At the close of 04 Nov 2026, Aspen Aerogels, Inc. (ASPN) stock was 4.80 USD (−3.23% on the day), with market capitalisation 398.3 m USD, beta 1.61, 52-week range 2.57–7.41 USD. Latest reported quarter (Q2 2026): revenue of 49.8 m USD (−36.1% YoY), net income of -23.3 m USD, diluted EPS -0.28 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 39.5
- weak (30–45)
- Bollinger (20, 2)
- 4.82 – 5.81
- below the lower band · %B -0.02 · band width 18.6%
- SMA 50 / 200
- 5.23 / 4.69
- mixed trend
- MACD (12, 26, 9)
- -0.10 / -0.03
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −15.6% | −1.1% | −14.5 pp | — |
| 3 months | −4.2% | −0.5% | −3.7 pp | — |
| 6 months | +16.5% | +4.4% | +12.1 pp | — |
| Year to date | +69.6% | +12.3% | +57.3 pp | — |
| 1 year | −33.2% | +13.5% | −46.8 pp | −15.1% |
| 3 years | −46.9% | +76.4% | −123.3 pp | −72.1% |
| 5 years | −91.4% | +63.7% | −155.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 117.3 m | 123.1 m | 78.7 m | 78.0 m | 73.0 m | 41.3 m | 37.9 m | 49.8 m |
| Cost of revenue | 68.3 m | 76.0 m | 55.9 m | 52.7 m | 52.2 m | 64.3 m | 33.6 m | 46.6 m |
| Gross profit | 49.0 m | 47.1 m | 22.8 m | 25.3 m | 20.8 m | -22.9 m | 4.3 m | 3.3 m |
| Research & development | 4.6 m | 4.4 m | 4.3 m | 3.8 m | 2.5 m | 2.8 m | 2.7 m | 3.2 m |
| Operating income | 17.4 m | 14.7 m | -299.3 m | -5.2 m | -3.3 m | -70.4 m | -20.8 m | -28.8 m |
| Pre-tax income | -12.7 m | 11.2 m | -300.2 m | -8.2 m | -5.7 m | -73.0 m | -23.9 m | -22.6 m |
| Income tax | 267.0 k | -175.0 k | 1.1 m | 821.0 k | 594.0 k | -97.0 k | -253.0 k | 619.0 k |
| Net income | -13.0 m | 11.4 m | -301.2 m | -9.1 m | -6.3 m | -72.9 m | -23.7 m | -23.3 m |
| Diluted EPS | -0.17 | 0.14 ≈ | -3.67 | -0.11 | -0.08 | -0.88 ≈ | -0.29 | -0.28 |
| Operating cash flow | 20.8 m ≈ | 35.7 m | 5.6 m | -3.9 m ≈ | 15.0 m ≈ | 16.1 m | 34.1 m | -16.2 m ≈ |
| Capex | 20.8 m ≈ | 14.8 m | 13.0 m | 12.9 m ≈ | 9.1 m ≈ | 2.5 m | 1.4 m | 1.8 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 104.4 m | 139.4 m | 100.3 m | 121.6 m | 180.4 m | 238.7 m | 452.7 m | 271.1 m |
| Revenue YoY | −6.5% | +33.6% | −28.1% | +21.3% | +48.3% | +32.4% | +89.6% | −40.1% |
| Net income | -34.4 m | -14.6 m | -21.8 m | -37.1 m | -82.7 m | -45.8 m | 13.4 m | -389.6 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | −3,012.5% |
| Diluted EPS | unavailable | unavailable | -0.83 | -1.22 | -2.10 | -0.66 | 0.17 | -4.73 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | −2,882.4% |
| net % | -33.0% | -10.5% | -21.7% | -30.5% | -45.9% | -19.2% | 3.0% | -143.7% |
| Free cash flow | -12.2 m | -3.2 m | -13.3 m | -32.4 m | -272.4 m | -218.1 m | -40.7 m | -4.6 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 156.9 m USD
- Financial debt
- 90.6 m USD
- Net debt
- -66.3 m USD
- Equity
- 235.5 m USD
- Total assets
- 406.7 m USD
- Debt / equity
- 0.38x
- Current ratio
- 3.90x
- ROE
- -91.6%
- ROA
- -59.8%
- FCF margin
- -1.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 100.3 m | 121.6 m | 180.4 m | 238.7 m | 452.7 m | 271.1 m | SEC (XBRL)· 13 Mar 2026verified |
| Cost of revenue | 85.7 m | 111.7 m | 175.4 m | 181.8 m | 269.8 m | 225.1 m | SEC (XBRL)· 13 Mar 2026verified |
| Gross profit | 14.6 m | 9.9 m | 5.0 m | 56.9 m | 182.9 m | 46.0 m | SEC (XBRL)· 13 Mar 2026verified |
| Research & development | 8.7 m | 11.4 m | 16.9 m | 16.4 m | 18.1 m | 13.4 m | SEC (XBRL)· 13 Mar 2026verified |
| Operating income | -21.6 m | -40.6 m | -79.2 m | -49.2 m | 54.5 m | -378.2 m | SEC (XBRL)· 13 Mar 2026verified |
| Pre-tax income | — | — | -82.7 m | -45.8 m | 15.1 m | -387.2 m | SEC (XBRL)· 13 Mar 2026verified |
| Income tax | — | — | 0 | 0 | 1.7 m | 2.4 m | SEC (XBRL)· 13 Mar 2026verified |
| Net income | -21.8 m | -37.1 m | -82.7 m | -45.8 m | 13.4 m | -389.6 m | SEC (XBRL)· 13 Mar 2026verified |
| Diluted EPS | -0.83 | -1.22 | -2.10 | -0.66 | 0.17 | -4.73 | SEC (XBRL)· 13 Mar 2026verified |
| Weighted average diluted shares | 26.4 m | 30.4 m | 39.4 m | 69.4 m | 80.3 m | 82.3 m | SEC (XBRL)· 13 Mar 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 16.5 m | 76.6 m | 281.3 m | 139.7 m | 220.9 m | 156.9 m | SEC (XBRL)· 13 Mar 2026verified |
| Receivables | 15.7 m | 20.4 m | 57.4 m | 70.0 m | 109.1 m | 35.3 m | SEC (XBRL)· 13 Mar 2026verified |
| Inventories | 13.1 m | 12.0 m | 22.5 m | 39.2 m | 47.6 m | 38.2 m | SEC (XBRL)· 13 Mar 2026verified |
| Current assets | 47.1 m | 112.2 m | 369.7 m | 266.3 m | 409.4 m | 242.1 m | SEC (XBRL)· 13 Mar 2026verified |
| Property, plant & equipment, net | 46.7 m | 55.8 m | 259.2 m | 417.2 m | 459.3 m | 98.4 m | SEC (XBRL)· 13 Mar 2026verified |
| Total assets | 97.4 m | 183.0 m | 643.4 m | 703.0 m | 895.1 m | 406.7 m | SEC (XBRL)· 13 Mar 2026verified |
| Accounts payable | 5.4 m | 17.4 m | 54.7 m | 51.1 m | 44.4 m | 13.2 m | SEC (XBRL)· 13 Mar 2026verified |
| Short-term debt | 1.6 m | — | — | — | 19.8 m | 25.1 m | SEC (XBRL)· 13 Mar 2026verified |
| Long-term debt | 2.1 m | — | — | — | 95.0 m | 65.5 m | SEC (XBRL)· 13 Mar 2026verified |
| Current liabilities | 13.9 m | 36.6 m | 78.9 m | 78.1 m | 110.1 m | 62.0 m | SEC (XBRL)· 13 Mar 2026verified |
| Total liabilities | 29.6 m | 54.5 m | 196.0 m | 215.0 m | 280.4 m | 171.2 m | SEC (XBRL)· 13 Mar 2026verified |
| Equity | 67.9 m † | 128.4 m † | 447.4 m † | 488.1 m † | 614.7 m † | 235.5 m † | SEC (XBRL)· 13 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -9.9 m | -18.6 m | -94.4 m | -42.6 m | 45.5 m | 32.9 m | SEC (XBRL)· 13 Mar 2026verified |
| Capex | 3.4 m | 13.8 m | 178.0 m | 175.5 m | 86.3 m | 37.4 m | SEC (XBRL)· 13 Mar 2026verified |
| Free cash flow | -13.3 m ≈ | -32.4 m ≈ | -272.4 m ≈ | -218.1 m ≈ | -40.7 m ≈ | -4.6 m ≈ | SEC (XBRL)· 13 Mar 2026derived |
| Investing cash flow | -3.4 m | -13.8 m | -178.0 m | -175.5 m | -86.3 m | -37.4 m | SEC (XBRL)· 13 Mar 2026verified |
| Financing cash flow | 26.2 m | 92.5 m | 478.4 m | 75.5 m | 122.0 m | -58.1 m | SEC (XBRL)· 13 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 37.5% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 398.3 m USD
Key indicators
Coverage and freshness
Score by group
38% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -56.7% | 0 (on a fixed band) | 28% |
| Net margin · Quality | -62.4% | 20 (vs peers) | 17% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 14.5% | 100 (on a fixed band) | 22% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.5x | 100 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 8.6% | 100 (on a fixed band) | 22% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality8/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial100/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ASPEN AEROGELS, INC. (ASPN). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 271.1 m USD in 2025; YoY growth -40.1%; net margin -62.4%; ROE -50.4%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 14.5%
- Current ratio: 2.5x
- FCF yield: 8.6%
What contradicts it
- ROIC: -56.7%
- Net margin: -62.4%
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Wholesale-Lumber & Other Construction Materials (SIC 5030) · same industry (4-digit SIC) · compared with 5 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| QXOQxo, Inc. | 13.1 bn | — | -2.8% | -4.1% | +11,925.0% | −32% / −57% |
| BCCBoise Cascade Company | 2.7 bn | 22.9 | 5.7% | 1.8% | −4.8% | +2% / −29% |
| ASPNAspen Aerogels, Inc. | 398.3 m | — | -50.4% | -62.4% | −40.1% | −33% / −47% |
| CAPSCapstone Holding Corp. | 42.6 m | — | -114.2% | -36.7% | +4.5% | +127% / −87% |
| OLOXOlenox Industries Inc. | 1.2 m | — | -89.9% | -427.9% | −40.7% | −98% / −100% |
| SMJFSMJ International Holdings Inc. | — | — | -4.9% | -5.3% | unavailable | unavailable / unavailable |
1- and 3-year price returns: for ASPN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Aspen Aerogels makes aerogel insulation for the energy industry and thermal barriers for electric vehicle batteries. The company reported revenue of 271.1 million USD for fiscal 2025, but its 2026 quarterly figures show a decline in the Thermal Barrier segment, in the context of an incident at its East Providence plant 13. Understanding the trend requires looking both at US regulatory changes and at the ramp of its OEM programmes 3.
SWOT
Strengths
- The company holds patented manufacturing processes that allow robust aerogel to be produced at commercial scale, a technological edge the source highlights 1. Pyrogel and Cryogel insulation have undergone rigorous technical validation and have an extensive installed base 1.
- The company has contractual relationships with several automotive OEMs and large energy operators, giving it an established customer base 1. Management reported solid liquidity at the end of the second quarter of 2026 3.
- According to the company, its products offer superior thermal performance and may have lower installed total cost in some applications, which can support a premium position 1.
Weaknesses
- The company reported significant net losses in 2025 and again in the second quarter of 2026, with a substantial accumulated deficit 13. Dependence on a single main production site, East Providence, became evident after the incident 13.
- Thermal Barrier revenue is concentrated in a small number of customers, especially General Motors, which raises exposure 1. OEM contracts generally carry no minimum purchase commitments 1.
- The company noted negative operating cash flows in earlier years, and its ability to keep cash flow positive is not certain 1.
Opportunities
- If programmes with Jaguar Land Rover and European manufacturers expand, the Thermal Barrier segment could recover part of the North American decline 3. Energy storage and electrification are named as possible adjacent markets 1.
- Growing energy industrial project activity could support demand for the Energy Industrial segment 3. The company could use its external capacity in China to extend deliveries without large capital spending 1.
- If the sale of the Statesboro, Georgia manufacturing assets is completed, the company could reduce debt or capital expenditure needs 3.
Threats
- Changes to US EV policies and incentives may reduce demand for thermal barriers 3. Competitors with greater resources could cut prices or launch better-performing technologies 1.
- Large customers may reduce volumes or change battery architectures, which would directly affect revenue 1. Supply chain and geopolitical risks, especially for the Chinese capacity, remain a threat 1.
- If insurance recoveries are delayed or reduced, the financial impact of the East Providence incident could persist 3.
Risks
- Dependence on a single production sitehigh
Main production is concentrated at the East Providence plant, and any disruption there could significantly affect deliveries and results 13. The April 2026 incident demonstrated this vulnerability 3.
- Concentration of automotive customershigh
A major part of revenue depends on a small number of automakers, and contracts do not guarantee minimum volumes 1. Losing or reducing a major customer could seriously affect the Thermal Barrier segment 1.
- Need for additional capitalmedium
The company warned it will need additional capital for its growth strategy, and access to financing could be limited or costly 1. MidCap loan terms include operating and financial restrictions 1.
- Competition and pricing pressuremedium
Aspen's products sell at a premium to traditional alternatives, and larger competitors could reduce prices 1. The entry of new players into the thermal barrier market is already noted in the source 1.
- Uncertain insurance recoverylow
The company expects to collect the insurance receivable for property damage but is not sure it will recover business interruption costs 3. Results could be affected if these recoveries are delayed 3.
Investment thesis
What would need to be true (bull case)
- If the East Providence restart proceeds as planned and European revenue keeps growing, the company could return to operating profitability faster than expected 3. Relationships with several automakers and the technical validation of its products could support long-term demand 1.
- Demand for industrial insulation in energy projects could accelerate, supporting the Energy Industrial segment 3. The company could extend its applications into energy storage, a market named as an adjacent opportunity 1.
- Liquidity remaining after the incident and a documented recovery path could give the company room for selective investment 3.
What would break the thesis
- The decline in North American Thermal Barrier revenue and repeated net losses could point to a structural problem rather than a temporary one 13. Dependence on one site and a few customers could amplify any future shock 1.
- If insurance recoveries come in below expectations, incident costs could weigh on results for several quarters 3. The need for additional capital could lead to dilution of existing shareholders 1.
- Competitors with greater financial resources could cut prices or launch comparable products, pressuring the company's margins 1.
What to watch
- Delivery against the Q3 2026 revenue and adjusted EBITDA rangesQ3 2026
- Progress of the East Providence restart and any insurance recoveriesQ3 2026
- North American Thermal Barrier revenue against EV regulation and incentive changes2026
- Completion of the Statesboro sale and start of production for the Jaguar Land Rover programme2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Products are sold mainly through a sales force in North America, Europe and Asia, together with distributors and contractors in more than 50 countries 1. Production is concentrated at the East Providence, Rhode Island facility, supplemented by external manufacturing capacity in China for the Energy Industrial segment 1. In August 2026 the company said it had begun a staged restart of the East Providence plant after an April 2026 incident 3.
Capital structure and financing are central: the company has a MidCap loan facility maturing in August 2029, which includes minimum liquidity covenants 1. Management indicated operating cash flow could be positive on an annual basis in 2026, but this outcome is not assured 1.
Market context
The company serves global markets split between electric vehicles and energy industrial insulation 1. Demand for energy industrial insulation comes from new construction, capital projects and maintenance programmes, and maintenance demand tends to be less sensitive to economic cycles 1. Demand for thermal barriers could grow as battery makers seek to reduce the risk of thermal runaway 1.
In 2026 the company cited changes to North American EV regulatory frameworks and incentive programmes as affecting Thermal Barrier demand 3. It also announced a PyroThin award across two Jaguar Land Rover next-generation vehicle architectures, with start of production expected in 2027 3.
Trends
- Changes to US EV regulationheadwind
The company attributed the fall in second quarter 2026 Thermal Barrier revenue to changes in North American EV regulatory frameworks and incentive programmes 3. If North American demand stabilises, as the company suggests, pressure on this segment could ease 3.
- Growth of European Thermal Barrier programmestailwind
The company raised its 2026 outlook for European Thermal Barrier revenue and reported growth in European revenue in the second quarter 3. If this continues, it could partly offset the North American decline 3.
- Energy project activitytailwind
Management noted accelerating Energy Industrial project activity entering the third quarter of 2026 3. Insulation demand depends on clients' capital spending in petrochemicals and energy, which is influenced by economic growth 1.
- East Providence incident and operating costsheadwind
An April 2026 incident at the East Providence plant caused losses and extra costs, and the company is staging a restart of production 3. It intends to submit insurance claims, but recovery is not assured 3.
Competitive position
The company competes in aerogel materials with a number of suppliers, including Armacell International, JIOS Aerogel, Unifrax (Alkegen), IBIDEN and Guangdong Alison Hi-Tech 1. In traditional insulation the field is wider, and the key factors are performance, price, availability and proximity to the customer 1.
The company warned that many competitors have greater market presence, longer operating histories and significantly greater financial resources 1. Aspen's products are priced at a premium to traditional insulation, which could become a vulnerability if competitors lower prices 1.
- Armacell International
Insulation materials supplier that competes with Aspen in the aerogel market, per the source 1.
- Unifrax (Alkegen)
Listed in the source as a participant in the aerogel market; no confirmed US ticker in the source 1.
- IBIDEN
Manufacturer named in the source among aerogel competitors; no confirmed US ticker 1.
- Guangdong Alison Hi-Tech
Chinese competitor named in the source in the aerogel materials market 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Gilead-Backed Aspen Neuroscience Shares Decline 2% After US IPOBloomberg Markets · 30 Oct 2026 · EN
- The Engine Software Tweak That Finally Lets Delta Air Lines Fly The Embraer E175 Into AspenSimple Flying · 28 Sept 2026 · EN
- Dinosaurs Roam the Aspen Security ForumForeign Policy · 21 Jul 2026 · EN
- Dental Chain Owner Aspen Drops WellNow Sale as Lenders Lawyer UpBloomberg Markets · 06 Jul 2026 · EN
- Aspen Disruption Triggers South Africa Contraceptive ShortageBloomberg Markets · 19 Jun 2026 · EN
- Începe Aspen Healthcare Summit 2026. Liderii din medicină dezbat cum poate supraviețui solidaritatea sub presiunea costurilor și a îmbătrânirii populațieiLibertatea.ro · 08 Jun 2026 · RO
- Bogdan Ivan a participat la prima ediție a Aspen Ideas in Action Leadership ForumAntena 3 CNN · 31 May 2026 · RO
- Alina Inayeh, la Gala Aniversară de 20 de ani a Institutului Aspen: „Tot ceea ce înseamnă războiul hibrid se întâmplă și la noi”Libertatea.ro · 29 May 2026 · RO
- Mircea Geoană, la Gala Aniversară de 20 de ani a Institutului Aspen: „Cred că vom deveni una dintre cele mai importante organizații la nivel european”Libertatea.ro · 28 May 2026 · RO
- Institul Aspen România celebrează 20 de ani la Gala Aniversară Aspen 2026: personalități din mediul de afaceri și lumea politică, prezente la evenimentLibertatea.ro · 28 May 2026 · RO
- Institutul Aspen România lansează Aspen Ideas in Action Leadership Forum, cu ocazia aniversării a două decenii de activitateLibertatea.ro · 27 May 2026 · RO
- Aspen Group Eyes New Investors to Address Debt as Earnings SlumpBloomberg Markets · 19 May 2026 · EN
- Aspen Institute România la BSDA 2026: dialog strategic despre viitorul securității, industriei de apărare și rezilienței regionaleLibertatea.ro · 18 May 2026 · RO
SEC filings
- Current report15 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report06 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report18 May 2026Departure or appointment of officers · Shareholder vote · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report08 May 2026
- Current report07 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report21 Apr 2026Regulation FD disclosure · Other events · Financial statements and exhibits
- Proxy statement27 Mar 2026
- Annual report13 Mar 2026
- Current report25 Feb 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Aspen Aerogels, Inc. · 13 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Aspen Aerogels, Inc. · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Aspen Aerogels, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.