Short answer
ASPEN AEROGELS INC (ASPN) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $73M (down 37.8% year over year) with net income of −$6M.
Q3 2025 key financials · XBRL
- Revenue
- $73M
- −37.8% YoY · −6.4% QoQ
- Net income
- −$6M
- +51.2% YoY · +30.1% QoQ
- Operating margin
- -4.6%
- Gross margin
- 28.5%
- EPS (diluted)
- −$0.07
- +56.3% YoY · +36.4% QoQ
Source: XBRL data from the ASPEN AEROGELS INC (ASPN) Q3 2025 10-Q on SEC EDGAR. USD.
ASPEN AEROGELS INC Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Risk Factors
- New debt risk triggered by May 6, 2025 MidCap amendment funding Koch convertible-note repurchase
- Financial covenant tightening: minimum liquidity greater of $50 million or 85% of outstanding principal
- Covenant breach risk heightened by 2025 revenue decline and $15 million EBITDA test for June 30, 2025
- Regulatory and compliance exposure from MidCap reporting obligations, negative covenants, and events of default
- Liquidity and collateral risk: loans mature August 19, 2029, secured by substantially all Loan Party assets
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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