Aspen Aerogels Q3 net loss widens on incident-related costs

Overview

• US sustainability solutions firm's Q3 2026 revenue rose 17% yr/yr, exceeding high end of outlook

• Adjusted EBITDA for Q3 2026 was above the high end of company outlook

• Net loss widened due to incident-related costs and asset write-down

Outlook

• Aspen Aerogels expects Q4 2026 revenue between $60 mln and $75 mln

• Company forecasts Q4 2026 net loss between $11 mln and $8 mln

• Aspen Aerogels sees Q4 2026 adjusted EBITDA between $5 mln and $13 mln

Result Drivers

• ENERGY INDUSTRIAL DELIVERIES - Co said robust Energy Industrial segment deliveries contributed to Q3 growth

• EUROPEAN OEM DEMAND - Record European OEM revenue in Thermal Barrier segment drove growth, per co

• NEW MARKET ENTRY - Initial Energy Industrial order for data center infrastructure project opened new market opportunity

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the specialty chemicals peer group is "buy"

• Wall Street's median 12-month price target for Aspen Aerogels, Inc. is $7.75, about 61.5% above its November 4 closing price of $4.80

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)