{ "ok": true, "cik": "1145986", "ticker": "ASPN", "name": "ASPEN AEROGELS, INC.", "filings": [ { "form": "8-K", "filed": "2026-09-15", "items": [ "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1145986/000117184326006048/0001171843-26-006048-index.htm" }, { "form": "10-Q", "filed": "2026-08-07", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1145986/000119312526340275/0001193125-26-340275-index.htm" }, { "form": "8-K", "filed": "2026-08-06", "items": [ "2.02 Results of Operations and Financial Condition", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1145986/000117184326005289/0001171843-26-005289-index.htm" }, { "form": "8-K", "filed": "2026-05-18", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "5.07 Submission of Matters to a Vote of Security Holders", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1145986/000117184326003511/0001171843-26-003511-index.htm" }, { "form": "10-Q", "filed": "2026-05-08", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1145986/000119312526214672/0001193125-26-214672-index.htm" }, { "form": "8-K", "filed": "2026-05-07", "items": [ "2.02 Results of Operations and Financial Condition", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1145986/000117184326003109/0001171843-26-003109-index.htm" } ], "events12m": 8, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001145986.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1145986" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets, no buy or sell views.", "edgar": "🫧 Edgar looked up ASPEN AEROGELS, INC. ($ASPN). Last filing: 8-K (7.01 Regulation FD Disclosure), 2026-09-15. 8 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 271103000, "revenueGrowth1y": -0.4011407138076294, "revenueGrowthPerYear": 0.221885597210163, "yearsOfData": 5, "operatingMargin": -1.395145018682936, "operatingMarginPrior": 0.1204663584412601, "netMargin": -1.4369151208212376, "operatingCashFlow": 32872000, "capitalSpending": 37449000, "freeCashFlow": -4577000, "researchAndDevelopment": 13416000, "researchShareOfRevenue": 0.049486726447143706, "cash": 156857000, "longTermDebt": 65455000, "longTermDebtChange": -0.310717031202283, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 121622000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 180364000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 238718000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 452699000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 271103000 } ], "totalEquity": 235518000, "totalAssets": 406679000, "equityRatio": 0.5791250593219713, "returnOnEquity": -1.6540221978787184, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "range80": { "low": 186512091.77700952, "high": 299771843.2491033, "baseline": 236450420.60979912, "n": 4309, "band": "b01" }, "ifPaceHeld": { "low": 186512091.77700952, "high": 299771843.2491033 } }, "edgarette": "🔖 Exposure: revenue $271.1M (FY2025), total debt $65.5M. Experience: revenue down 40.1% on the year, up 22.2% a year over 4 years; operating margin -139.5%, down from 12.0%. Soundness: equity 57.9% of assets, return on equity -165.4%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $186.5M and $299.8M next year (method v3, set from 4,309 SEC company-years; on a year the method never saw, 83% landed inside). A range, not a forecast. Against peers (43 filers, $50M+ revenue, its industry group): operating margin -139.5% against a 5.0% median; growth -40.1% against 4.3%.", "peers": { "sic": 5030, "sicDescription": "Wholesale-Lumber & Other Construction Materials", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "50", "growth": [ 0.0427, 44 ], "opMargin": [ 0.0495, 43 ], "equityRatio": [ 0.3754, 43 ], "returnOnEquity": [ 0.0979, 41 ], "payoutRatio": [ 0.342, 23 ] }, "summary": "Aspen Aerogels (ASPN) saw revenue fall 40.1% in FY2025 to $271 million, operating margin -140% against a 5.0% median for wholesale-lumber & other construction materials, equity 57.9% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
ASPEN AEROGELS, INC. against its own record and its peers
Operating marginPeer median 5.0%-139.5%Revenue, on the yearPeer median 4.3%-40.1%Equity of assetsPeer median 37.5%57.9%Return on equityPeer median 9.8%-165.4%Gold tick: the median of 41–43 peers with $50M+ revenue in wholesale-lumber & other construction materials
", "chartHorizon": null, "backtest": { "tests": 10, "hits": 3, "rate": 0.3, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T15:23:08.640Z", "hash": "52f5743a62d18ea5", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Aspen Aerogels (ASPN) saw revenue fall 40.1% in FY2025 to $271 million, operating margin -140% against a 5.0% median for wholesale-lumber & other construction materials, equity 57.9% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 271103000, "totalDebt": 65455000, "cash": 156857000 }, "experience": { "revenueGrowth1y": -0.4011407138076294, "revenueGrowthPerYear": 0.221885597210163, "operatingMargin": -1.395145018682936, "operatingMarginPrior": 0.1204663584412601, "netMargin": -1.4369151208212376, "freeCashFlow": -4577000 }, "soundness": { "equityRatio": 0.5791250593219713, "returnOnEquity": -1.6540221978787184, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 5030, "sicDescription": "Wholesale-Lumber & Other Construction Materials", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "50", "growth": [ 0.0427, 44 ], "opMargin": [ 0.0495, 43 ], "equityRatio": [ 0.3754, 43 ], "returnOnEquity": [ 0.0979, 41 ], "payoutRatio": [ 0.342, 23 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "range": { "low": 186512091.77700952, "high": 299771843.2491033, "baseline": 236450420.60979912, "coverage": 0.8, "method": "v3", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); range = 10th to 90th percentile of how SEC company-years of the same size band actually turned out", "calibratedOn": { "companyYears": 4309, "sizeBand": "b01" }, "kind": "a calibrated range, not a forecast; no view on the share price", "track": { "backtest": { "tests": 10, "hits": 3, "rate": 0.3, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T15:23:08.640Z", "hash": "52f5743a62d18ea5", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001145986.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1145986" } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same if-the-pace-held arithmetic applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so." } }