Aspen Aerogels sees FY24 revenue baseline $350M, consensus 391.43M

FY24 revenue outlook represents a potential for over 47% year-over-year revenue growth. Ricardo Rodriguez, CFO and Treasurer added, “There’s potential for further growth beyond our current 2024 expectations. However, we remain cautious given the challenges that our customers face with launching and scaling new EV nameplates.” “We believe our best hedge to this uncertainty is continuing to optimize our cost structure, maximize the potential of our Energy Industrial business, broaden our EV customer base, right-time capital expenditures, and identify further operating efficiencies,” continued Mr. Rodriguez. “We believe our December 2023 registered direct financing of $75 million positions us to capture additional demand upside and fully funds our near-term objectives as we turn EBITDA positive. It is also enabling potential long-term reductions in our cost of capital.” With respect to the 2024 baseline revenue outlook, Aspen may experience other events in 2024, including those related to the planned capacity expansion, supply chain disruptions or further cost inflation, that could cause actual results to vary materially from this baseline revenue outlook.