$Aspen Aerogels (ASPN.US)$ In the third quarter of 2024, the...
In the third quarter of 2024, the company reported sales of 1.173 billion dollars, a 93% increase year-on-year, of which 90.6 million dollars were revenue related to thermal barriers. The company recorded a net loss of 13 million dollars, including a one-time expense of 27.5 million dollars related to the redemption of convertible bonds. The gross profit margin improved to 42%, and adjusted EBITDA reached 25.4 million dollars.
In addition, the company has secured important funding, including a term loan financing limit of $0.125 billion and a commitment for up to $0.706 billion from the US Department of Energy. Aspen has raised its performance outlook for 2024, targeting sales of $0.450 billion, net profit of $9 million, and adjusted EBITDA of $90 million.
In addition, the company has secured important funding, including a term loan financing limit of $0.125 billion and a commitment for up to $0.706 billion from the US Department of Energy. Aspen has raised its performance outlook for 2024, targeting sales of $0.450 billion, net profit of $9 million, and adjusted EBITDA of $90 million.
It was a quarter where temporary expenses increased significantly, but overall, it seems good with a net profit and steadily increasing year-on-year sales.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
