Aspen Aerogels ( (ASPN) ) has shared an announcement.
Aspen Aerogels, Inc. reported impressive third-quarter 2024 results with a 93% year-over-year revenue increase, driven by strong performance in its Thermal Barrier segment. The company achieved gross margins of 42% and adjusted EBITDA margins of 22%, highlighting its effective cost management. Aspen’s updated financial outlook predicts $450 million in annual revenue and $90 million in adjusted EBITDA, supported by recent financing activities to fund growth strategies. Despite a $13 million net loss due to a one-time charge, Aspen’s financial health remains robust with a strategic focus on sustainable expansion.
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