Aspen Aerogels raises FY23 EPS view to (90c)-(76c) from ($1.21)-($1.07)

Narrows FY23 revenue view to $225M frm $200M-$250M. Consensus is for FY23 EPS ($1.04) and ofr revenue $216.8M. FY23 outlook assumes depreciation and amortization of $15.3M, stock-based compensation expense of $10.4M, interest income of $3.3M and weighted average shares outstanding of 69.4M for the full year. Aspen’s President and CEO, Donald R. Young, commented “We are proud to highlight these PyroThin EV Thermal Barrier awards and look forward to continued strong OEM partnerships. We believe that we have the opportunity to win additional awards within our current customers and with new OEMs.” Young concluded, “We remain focused on maximizing the value of our existing assets and commercial relationships with the goal of achieving a revenue capacity of over $550M of product to a broadly diversified customer base in our EV Thermal Barrier and Energy Industrial segments.”