EarningsQ1 2026 Earnings Report
DE:AP1 Q1 2026 EPS Results
Actual EPS-€0.26
Consensus EPS-€0.24
Beat/MissMissed by -€0.02
One Year Ago EPS-€3.26
DE:AP1 Q1 2026 Revenue Results
Actual Revenue€33.65M
Expected Revenue€32.49M
Beat/MissBeat by +€1.16M
YoY Revenue Growth-51.88%
Earnings Announcement Details
QuarterQ1 2026
Date05/07/2026
TimeBefore Open
Conference CallThursday, May 7, 2026
DE:AP1 Upcoming Earnings
Aspen Aerogels's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q1 2026 Earnings Call Audio
DE:AP1 Q1 2026 Earnings Call
0:00 / 0:00
Q1 2026 Earnings Slide Deck
Q1 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call balanced material near-term operational challenges (an April plant explosion, related elevated costs, supply-chain and regional disruptions, and negative adjusted EBITDA guidance for Q2) with meaningful positives: a strong cash position bolstered by a $37.6M GM claim, improved quarter-over-quarter profitability metrics (GAAP loss and adjusted EBITDA), robust demand signals and multi-faceted growth drivers in Energy & Industrial (subsea, LNG, maintenance), significant momentum in European thermal barriers (>3x YoY), and explicit guidance for sequential revenue growth with targets (20% EI growth in 2026, Q2 revenue range $40M–$48M). Given the mix of short-term operational headwinds and credible near- to medium-term growth and liquidity strengths, the overall tone is cautious but constructive.Company Guidance
Q1 Revenue and Segment Mix
Total Q1 2026 revenue of $37.9M, comprised of $21.6M Energy & Industrial and $16.3M Thermal Barrier. Company reiterates expectation of sequential revenue growth each quarter through 2026.
Strong Cash Position and Liquidity
Ended Q1 with $175.6M in cash and cash equivalents versus $158.6M at FY2025 end. Q1 generated $17M of cash; substantial covenant headroom with $175.6M cash against $86M term loan.
Material One-Time GM Claim Proceeds
Received $37.6M in claim proceeds from GM; under ASC 606 recognized ratably through end of 2027 with $3.5M booked in Q1 and ~ $4.9M expected per quarter thereafter.
Profitability Improvements vs Prior Quarter
GAAP net loss narrowed to -$23.7M in Q1 from -$72.9M in Q4 2025. Adjusted EBITDA improved to -$12.7M in Q1 from -$18.0M in Q4, a 29% improvement despite slightly lower revenues.
Thermal Barrier Momentum in Europe
EU thermal barrier revenue in Q1 grew more than threefold versus the prior year quarter. Management expects European thermal barrier programs to contribute approximately $10M–$15M in 2026.
Energy & Industrial Growth Drivers and Targets
Management expects ~20% revenue growth in Energy & Industrial for 2026 driven by subsea, LNG, and maintenance/turnaround work. Believes subsea and LNG opportunities could significantly expand; expects LNG-related activity to approximately double in 2026 vs 2025 and positions EI to scale toward a $200M high-margin business.
Lowered EBITDA Breakeven and Capital Discipline
Restructuring reduced EBITDA breakeven from $330M revenue in 2024 to $200M target in 2026 and further to $175M by end of 2027. Full-year CapEx expected to be < $10M with ~ $26M scheduled debt payments; Plant 2 sale proceeds expected Q4 to be applied to term debt.
Q2 Revenue and Profitability Guidance
Q2 revenue guidance of $40M–$48M (5%–28% QoQ growth). Q2 adjusted EBITDA expected between -$10M and -$4M, with sequential improvement anticipated through the year if supply mitigation succeeds.
New Market Adjacent Opportunities
Advancing battery energy storage systems qualifications and commercial discussions; potential to generate initial revenue in 2026 as system architectures converge with solved EV thermal challenges.
DE:AP1 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed