Aspen Aerogels, Inc. (ASPN) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 252.55M | 242.05M | 278.92M | 310.47M | 343.89M | 409.45M | 305.86M | 288.54M | 255.1M | 266.33M | 200.37M | 228.04M | 296.04M | 369.69M | 156.27M | 213.28M | 248.05M | 112.15M | 127.13M | 133.13M |
| Cash & Short-Term Investments | 175.58M | 156.86M | 150.72M | 167.62M | 192.04M | 220.88M | 113.49M | 91.38M | 101.46M | 139.72M | 94.64M | 134.3M | 207.54M | 281.33M | 102.4M | 162.19M | 205.18M | 76.56M | 95.53M | 102.26M |
| Cash Only | 175.58M | 156.86M | 150.72M | 167.62M | 192.04M | 220.88M | 113.49M | 91.38M | 101.46M | 139.72M | 94.64M | 134.3M | 207.54M | 281.33M | 102.4M | 162.19M | 205.18M | 76.56M | 95.53M | 102.26M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 36.44M | 35.27M | 69.15M | 76.17M | 77.36M | 109.1M | 115.2M | 116.93M | 84.03M | 70M | 54.41M | 44.17M | 47.28M | 57.35M | 27.12M | 29.48M | 24.53M | 20.43M | 18.72M | 19.37M |
| Days Sales Outstanding | 85.18 | 116.19 | 91.55 | 89.53 | 106.58 | 83.83 | 91 | 77.64 | 74.16 | 67.95 | 74.64 | 86.4 | 103.28 | 65.18 | 70.93 | 53.85 | 52.68 | 57.22 | 57.67 | 57.52 |
| Inventory | 31.05M | 38.25M | 43.04M | 52.12M | 56.74M | 47.55M | 47.43M | 53.03M | 45.75M | 39.19M | 34.42M | 33.29M | 27.01M | 22.54M | 20.6M | 17M | 15.51M | 11.99M | 9.71M | 9.44M |
| Days Inventory Outstanding | 92.79 | 58.18 | 83.82 | 93.97 | 83.94 | 57.52 | 67.66 | 67.9 | 65.11 | 62.01 | 66.35 | 69.02 | 55.05 | 43.83 | 40.16 | 31.57 | 30.78 | 30.12 | 32.25 | 34.07 |
| Other Current Assets | 9.47M | 11.68M | 1.75M | 14.56M | 17.75M | 31.91M | 29.74M | 27.2M | 23.86M | 17.42M | 16.89M | 16.28M | 14.21M | 8.46M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 157.93M | 164.63M | 212.48M | 214.66M | 211.09M | 485.7M | 476.73M | 460.09M | 442.88M | 436.72M | 404.78M | 389.04M | 324.7M | 273.73M | 229.14M | 142.65M | 92.96M | 70.8M | 60.54M | 59.09M |
| Property, Plant & Equipment | 116.62M | 122.55M | 178.35M | 180.22M | 204.32M | 480.13M | 471.94M | 456.64M | 439.56M | 434.44M | 402.43M | 386.65M | 322.29M | 271.21M | 226.44M | 140.1M | 90.72M | 69.31M | 59.23M | 58.08M |
| Fixed Asset Turnover | 0.32x | 0.27x | 0.41x | 0.41x | 0.23x | 0.26x | 0.25x | 0.26x | 0.22x | 0.20x | 0.15x | 0.14x | 0.15x | 0.24x | 0.20x | 0.40x | 0.48x | 0.49x | 0.52x | 0.59x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 41.31M | 42.08M | 34.13M | 34.45M | 6.77M | 5.57M | 4.79M | 3.45M | 3.32M | 2.28M | 2.35M | 2.39M | 2.41M | 2.52M | 2.7M | 2.55M | 2.24M | 1.5M | 1.31M | 1.02M |
| Total Assets | 410.48M | 406.68M | 491.39M | 525.13M | 554.98M | 895.14M | 782.59M | 748.63M | 697.99M | 703.05M | 605.15M | 617.07M | 620.73M | 643.42M | 385.41M | 355.93M | 341.01M | 182.95M | 187.67M | 192.22M |
| Asset Turnover | 0.09x | 0.09x | 0.14x | 0.14x | 0.11x | 0.15x | 0.15x | 0.16x | 0.13x | 0.13x | 0.10x | 0.08x | 0.07x | 0.12x | 0.10x | 0.13x | 0.15x | 0.17x | 0.16x | 0.22x |
| Asset Growth % | -26.04% | -54.57% | -37.21% | -29.85% | -20.49% | 27.32% | 29.32% | 21.32% | 12.45% | 9.27% | 57.01% | 73.37% | 82.03% | 251.68% | 105.37% | 85.17% | 241.44% | 87.79% | 99.02% | 97.06% |
| Total Current Liabilities | 87.8M | 62.02M | 70.74M | 78.05M | 81.43M | 110.11M | 104.3M | 83.43M | 63.58M | 78.09M | 61.26M | 65.63M | 68.83M | 78.94M | 80.96M | 71.2M | 46.2M | 36.55M | 28.27M | 28.16M |
| Accounts Payable | 13.61M | 13.24M | 19.1M | 27M | 39.93M | 44.36M | 42.28M | 57.25M | 44.71M | 51.09M | 37.12M | 48.06M | 52.82M | 54.73M | 58.32M | 51.13M | 30.07M | 17.44M | 9.82M | 9.52M |
| Days Payables Outstanding | 35.96 | 23.15 | 40.61 | 57.78 | 67.84 | 52.47 | 67.03 | 70.09 | 73.44 | 74.31 | 83.46 | 115.48 | 119.5 | 114.86 | 116.91 | 78.85 | 53.19 | 37.84 | 32.58 | 27.7 |
| Short-Term Debt | 34.25M | 34.57M | 26M | 26M | 13.5M | 27.06M | 26.25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.67M |
| Deferred Revenue (Current) | 21.97M | 1.26M | 0 | 624K | 2.65M | 2.2M | 2.4M | 3.1M | 3.13M | 2.32M | 5.46M | 4.63M | 3.97M | 5.85M | 7.36M | 6.62M | 6.2M | 6.05M | 6.34M | 6.4M |
| Other Current Liabilities | 11.74M | 12.95M | 824K | 4.49M | 3.62M | 19.37M | 15M | 11.94M | 5.71M | 16.88M | 14M | 7.8M | 6.71M | 12.47M | 9.22M | 6.74M | 5.04M | 8.99M | 8.23M | 5.27M |
| Current Ratio | 2.88x | 3.90x | 3.94x | 3.98x | 4.22x | 3.72x | 2.93x | 3.46x | 4.01x | 3.41x | 3.27x | 3.47x | 4.30x | 4.68x | 1.93x | 3.00x | 5.37x | 3.07x | 4.50x | 4.73x |
| Quick Ratio | 2.52x | 3.29x | 3.33x | 3.31x | 3.53x | 3.29x | 2.48x | 2.82x | 3.29x | 2.91x | 2.71x | 2.97x | 3.91x | 4.40x | 1.68x | 2.76x | 5.03x | 2.74x | 4.15x | 4.39x |
| Cash Conversion Cycle | 142.02 | 151.22 | 134.76 | 125.71 | 122.68 | 88.88 | 91.63 | 75.45 | 65.83 | 55.65 | 57.52 | 39.94 | 38.84 | -5.85 | -5.82 | 6.56 | 30.27 | 49.5 | 57.35 | 63.89 |
| Total Non-Current Liabilities | 109.18M | 109.14M | 114.92M | 138.32M | 158.71M | 170.33M | 170.64M | 147.37M | 143.21M | 136.9M | 134.07M | 131.48M | 119.36M | 117.04M | 122.05M | 119.98M | 113.19M | 17.99M | 16.94M | 16.92M |
| Long-Term Debt | 68.31M | 79.8M | 84.34M | 106.25M | 124.37M | 137.09M | 136.41M | 121.07M | 118.03M | 114.99M | 112.09M | 109.19M | 106.42M | 103.58M | 105.22M | 102.72M | 100.64M | 0 | 0 | 0 |
| Capital Lease Obligations | 26.26M | 29.34M | 30.58M | 32.06M | 34.34M | 33.23M | 34.23M | 26.3M | 25.18M | 21.91M | 21.99M | 22.29M | 12.95M | 13.46M | 16.83M | 17.26M | 12.56M | 12.99M | 11.51M | 11.48M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 434K | 434K |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 196.98M | 171.16M | 185.66M | 216.36M | 240.14M | 280.44M | 274.94M | 230.8M | 206.79M | 214.99M | 195.33M | 197.1M | 188.19M | 195.98M | 203.01M | 191.18M | 159.4M | 54.55M | 45.21M | 45.08M |
| Total Debt | 128.82M | 143.71M | 150.16M | 173.17M | 180.88M | 197.38M | 203.72M | 150.78M | 146.18M | 138.77M | 136.06M | 133.73M | 121.63M | 119.4M | 124.59M | 122.47M | 115.39M | 15.24M | 13.83M | 16.75M |
| Net Debt | -46.76M | -13.15M | -567K | 5.55M | -11.15M | -23.5M | 90.23M | 59.4M | 44.72M | -951K | 41.42M | -564K | -85.91M | -161.93M | 22.19M | -39.72M | -89.79M | -61.33M | -81.7M | -85.5M |
| Debt / Equity | 0.60x | 0.61x | 0.49x | 0.56x | 0.57x | 0.32x | 0.40x | 0.29x | 0.30x | 0.28x | 0.33x | 0.32x | 0.28x | 0.27x | 0.68x | 0.74x | 0.64x | 0.12x | 0.10x | 0.11x |
| Debt / EBITDA | - | 0.50x | 73.43x | 270.16x | - | 9.80x | 8.97x | 5.81x | 17.78x | 20.97x | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | -0.05x | -0.28x | 8.66x | - | -1.17x | 3.97x | 2.29x | 5.44x | -0.14x | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -6.48x | -26.03x | -0.93x | -1.67x | -151.99x | 4.17x | -3.86x | 6.81x | 0.69x | 0.82x | -5.75x | -72.09x | -60.08x | -8.54x | -16.07x | -14.52x | -21.66x | -397.85x | -133.86x | -120.25x |
| Total Equity | 213.5M | 235.52M | 305.73M | 308.77M | 314.83M | 614.71M | 507.65M | 517.83M | 491.2M | 488.06M | 409.81M | 419.97M | 432.54M | 447.44M | 182.41M | 164.75M | 181.61M | 128.41M | 142.46M | 147.15M |
| Equity Growth % | -32.19% | -61.69% | -39.77% | -40.37% | -35.91% | 25.95% | 23.87% | 23.3% | 13.56% | 9.08% | 124.67% | 154.91% | 138.17% | 248.45% | 28.04% | 11.96% | 172.51% | 89.25% | 133.97% | 121.17% |
| Book Value per Share | 2.58 | 2.85 | 3.71 | 3.76 | 3.84 | 7.41 | 6.66 | 6.56 | 6.48 | 6.97 | 5.91 | 6.06 | 6.25 | 9.09 | 4.61 | 4.68 | 5.51 | 3.93 | 4.38 | 5.16 |
| Total Shareholders' Equity | 213.5M | 235.52M | 305.73M | 308.77M | 314.83M | 614.71M | 507.65M | 517.83M | 491.2M | 488.06M | 409.81M | 419.97M | 432.54M | 447.44M | 182.41M | 164.75M | 181.61M | 128.41M | 142.46M | 147.15M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -1.07B | -1.05B | -976.87M | -970.53M | -961.48M | -660.23M | -671.59M | -658.62M | -675.44M | -673.6M | -673.08M | -660.01M | -644.59M | -627.79M | -618.18M | -588.59M | -564.54M | -545.05M | -528.7M | -520.88M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |