Aspen Aerogels, Inc. (ASPN) quarterly cash flow statement — complete operating, investing & financing 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 |
|---|
| Cash from Operations | 34.15M | 16.14M | 15.04M | -3.93M | 5.63M | 35.68M | 20.77M | 6.84M | -17.75M | -2.78M | -7.5M | -7.68M | -24.65M | -24.08M | -37.45M | -10.04M | -22.83M | -12.05M | -6.05M | 1.34M |
| Operating CF Margin % | 90.13% | 39.03% | 20.59% | -5.04% | 7.15% | 28.99% | 17.7% | 5.81% | -18.78% | -3.3% | -12.35% | -15.95% | -54.08% | -40.4% | -102.04% | -21.99% | -59.44% | -38.28% | -19.91% | 4.24% |
| Operating CF Growth % | 506.27% | -54.78% | -27.62% | -157.43% | 131.73% | 1384.06% | 376.87% | 189.1% | 28% | 88.46% | 79.97% | 23.47% | -7.98% | -99.85% | -519.09% | -847.21% | -1119.5% | -134.33% | -292.86% | 171.1% |
| Net Income | -23.69M | 0 | -6.33M | -9.06M | -301.25M | 11.36M | -12.97M | 16.82M | -1.83M | -519K | -13.07M | -15.42M | -16.8M | -9.61M | -29.59M | -24.05M | -19.48M | -16.35M | -7.82M | -6.67M |
| Depreciation & Amortization | 6.46M | 0 | 6.34M | 6.68M | 5.79M | 6.28M | 5.32M | 5.99M | 5.79M | 5.23M | 5.33M | 3.71M | 3.34M | 2.53M | 2.53M | 2.03M | 2.13M | 2.58M | 2.11M | 2.1M |
| Stock-Based Compensation | 0 | 0 | 2.64M | 3.21M | 1.95M | 2.55M | 2.63M | 2.97M | 4.71M | 0 | 0 | 2.71M | 0 | 2.67M | 2.59M | 2.29M | 1.83M | 1.58M | 1.55M | 1.07M |
| Deferred Taxes | -522K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3.73M | -3K |
| Other Non-Cash Items | 3.58M | -16.26M | -588K | -10.41M | 287.91M | 3.49M | 30.02M | 4.72M | 11.36M | 6.09M | 4.71M | 5.37M | 2.64M | 1.8M | 2.49M | 2.21M | 1.39M | 3.89M | 548K | 267K |
| Working Capital Changes | 48.32M | 32.4M | 12.97M | 5.65M | 11.23M | 12.01M | -4.23M | -23.66M | -37.77M | -13.58M | -4.47M | -4.05M | -13.83M | -21.48M | -15.47M | 7.47M | -8.69M | -3.75M | 1.29M | 4.57M |
| Change in Receivables | -1.17M | 30.37M | 7.02M | 1.05M | 31.86M | 5.99M | 1.73M | -33.04M | -14.03M | -15.58M | -10.23M | 3.28M | 9.97M | -30.31M | 2.32M | -4.95M | -4.1M | -1.72M | 642K | 1.3M |
| Change in Inventory | 7.2M | 4.79M | 9.08M | 4.62M | -9.19M | -121K | 5.6M | -7.28M | -6.56M | -4.77M | -1.13M | -6.28M | -4.47M | -1.94M | -3.6M | -1.5M | -3.52M | -2.27M | -274K | 1.41M |
| Change in Payables | 1.45M | -3.72M | 0 | 0 | -3.87M | 0 | -13.06M | 15.37M | 2.15M | 5M | 987K | 0 | -5.52M | 4.84M | -15.5M | 12.92M | 3.06M | 0 | -192K | 2.53M |
| Cash from Investing | -1.37M | -2.46M | -9.1M | -12.88M | -13M | -14.75M | -20.82M | -24.83M | -25.86M | -27.79M | -32.28M | -66.01M | -49.38M | -58.63M | -66.99M | -37.85M | -14.5M | -7.64M | -2.25M | -2.41M |
| Capital Expenditures | -1.37M | -2.46M | -9.1M | -12.88M | -13M | -14.75M | -20.82M | -24.83M | -25.86M | -27.79M | -32.28M | -66.01M | -49.38M | -58.63M | -66.99M | -37.85M | -14.5M | -7.64M | -2.25M | -2.41M |
| CapEx % of Revenue | 3.61% | 5.96% | 12.47% | 16.51% | 16.51% | 11.98% | 17.74% | 21.08% | 27.37% | 32.99% | 53.13% | 137.07% | 108.32% | 98.35% | 182.5% | 82.94% | 37.76% | 24.29% | 7.42% | 7.61% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -15.77M | -7.53M | -21.53M | -7.59M | -21.48M | 86.46M | 22.16M | 8.14M | 5.26M | 75.57M | 126K | 142K | -364K | 262.87M | 44.66M | 4.9M | 165.95M | 727K | 1.58M | 86.1M |
| Debt Issued (Net) | -15.57M | -7.92M | -22.65M | -7.76M | -20.9M | -6.52M | 27.63M | -504K | 4.98M | -623K | 0 | 0 | 0 | 0 | 0 | 0 | 100M | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 478K | -69K | -46K | 0 | -31K | 0 | 0 | 0 | 76.21M | 135K | -8K | 21K | 267.95M | 44.94M | 4.81M | -2.31M | -36K | 809K | 87.38M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | -69K | -46K | 0 | -31K | 0 | 0 | 0 | 0 | 0 | -8K | 0 | 0 | 0 | 0 | 0 | -36K | 0 | 0 |
| Other Financing | -196K | -94K | 1.19M | 221K | -574K | 93.02M | -5.47M | 8.64M | 277K | -18K | -9K | 150K | -385K | -5.08M | -287K | 84K | 68.26M | 763K | 769K | -1.27M |
| Net Change in Cash | 17.01M | 6.14M | -15.6M | -24.4M | -28.84M | 107.39M | 22.11M | -9.84M | -38.35M | 45.01M | -39.66M | -73.55M | -74.39M | 180.16M | -59.79M | -42.99M | 128.61M | -18.97M | -6.73M | 85.04M |
| Free Cash Flow | 32.78M | 13.67M | 5.93M | -16.82M | -7.37M | 20.93M | -50K | -17.98M | -43.61M | -30.57M | -39.78M | -73.69M | -74.03M | -82.71M | -104.44M | -47.89M | -37.33M | -19.69M | -8.3M | -1.07M |
| FCF Margin % | 86.52% | 33.07% | 8.13% | -21.55% | -9.36% | 17.01% | -0.04% | -15.27% | -46.15% | -36.29% | -65.48% | -153.02% | -162.39% | -138.74% | -284.54% | -104.93% | -97.2% | -62.57% | -27.33% | -3.37% |
| FCF Growth % | 544.99% | -34.69% | 11966% | 6.5% | 83.11% | 168.49% | 99.87% | 75.6% | 41.09% | 63.04% | 61.91% | -53.88% | -98.29% | -319.96% | -1157.76% | -4392.5% | -1017.09% | -230.55% | -283.91% | 63.73% |
| FCF per Share | 0.40 | 0.17 | 0.07 | -0.20 | -0.09 | 0.25 | -0.00 | -0.23 | -0.58 | -0.44 | -0.57 | -1.06 | -1.07 | -1.68 | -2.64 | -1.36 | -1.13 | -0.60 | -0.26 | -0.04 |
| FCF Conversion (FCF/Net Income) | -1.44x | -0.22x | -2.37x | 0.43x | -0.02x | 3.14x | -1.60x | 0.41x | 9.67x | 5.35x | 0.57x | 0.50x | 1.47x | 2.51x | 1.27x | 0.42x | 1.17x | 0.74x | 0.77x | -0.20x |
| Interest Paid | 0 | 2.59M | 3.06M | 3.18M | 3.38M | 4.68M | 2.31M | -164K | 187K | 0 | 0 | 1K | 0 | 23K | 0 | 43K | 0 | 68K | 0 | 0 |
| Taxes Paid | 0 | 402K | 0 | 0 | 2.92M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |