Aspen Aerogels Clocked Preliminary Q4 Revenue of $84M, up 38% YoY Vs $74.9M Est, Expects FY24 Baseline Revenue of $350M with Upside as EV Production Accelerates Vs $391.43M Est
Portfolio Pulse from Benzinga Newsdesk
Aspen Aerogels reported preliminary Q4 revenue of $84M, a 38% increase YoY, surpassing the estimate of $74.9M. The company expects FY24 baseline revenue to be $350M, with potential growth as EV production accelerates, which is below the estimated $391.43M. Full year 2023 revenues reached $238M, a 32% increase YoY, with PyroThin thermal barrier revenues at $110M (up 98% YoY) and Energy Industrial revenues at $128M (up 3% YoY). The company anticipates a continued net loss despite a positive adjusted EBITDA run rate.
January 11, 2024 | 12:35 pm
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POSITIVE IMPACT
Aspen Aerogels exceeded Q4 revenue expectations and projects significant growth for FY24, although below analyst estimates. The company's strong performance in thermal barrier products and steady growth in energy industrial revenues indicate a positive outlook, despite the anticipation of a net loss.
Aspen Aerogels' reported revenue growth and positive outlook, particularly in the EV sector, are likely to be viewed favorably by investors. The company's performance in the PyroThin thermal barrier segment, which is crucial for EV production, suggests strong demand for its products. Although the FY24 revenue projection is below analyst expectations, the overall positive revenue trend and the anticipation of growth in the EV market could lead to a short-term positive impact on the stock price. However, the mention of a continued net loss tempers the potential upside, which is why the importance is not at the maximum level.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100