Sees FY23 revenue $200M-$250M, consensus $244.27M. Sees FY23 net loss $101.9M-$91.9M; and Adjusted EBITDA ($60M)-($50M). The Company’s 2023 outlook assumes depreciation and amortization of $22.3 million, stock-based compensation expense of $11.0M, interest expense of $8.6M and weighted average shares outstanding of 70.0M for the full year. "We continue to target doubling revenue from 2021 to 2023," noted Ricardo C. Rodriguez, Senior Vice President, CFO and Treasurer. "Our 2023 revenue outlook represents growth of between 11 percent and 39 percent over 2022. It will be primarily driven by customer demand for PyroThin thermal barriers. We expect important nameplate launches in the second half of this year, with at least 70% of our EV thermal barrier revenues being delivered in the same timeframe." Rodriguez concluded, "Optimizing our aerogel production capacity throughout the year will play a critical role in executing what we believe will be a steep ramp during the second half of the year."
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