Aspen Aerogels (ASPN) Revenue & Revenue Breakdown

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Aspen Aerogels Revenue Highlights

Latest Revenue (Y)

$271.10M

Latest Revenue (Q)

$37.88M

Main Segment (Y)

Thermal Barrier

Main Geography (Y)

UNITED STATES

Aspen Aerogels Revenue by Period

Aspen Aerogels Revenue by Year

Date	Revenue	Change
2025-12-31	$271.10M	-40.11%
2024-12-31	$452.70M	89.64%
2023-12-31	$238.72M	32.35%
2022-12-31	$180.36M	48.30%
2021-12-31	$121.62M	21.29%
2020-12-31	$100.27M	-28.06%
2019-12-31	$139.38M	33.55%
2018-12-31	$104.36M	-6.51%
2017-12-31	$111.63M	-5.19%
2016-12-31	$117.74M	-3.90%
2015-12-31	$122.52M	19.65%
2014-12-31	$102.40M	18.94%
2013-12-31	$86.09M	35.68%
2012-12-31	$63.45M	38.09%
2011-12-31	$45.95M	6.34%
2010-12-31	$43.21M	51.00%
2009-12-31	$28.62M	-76.47%
2001-12-31	$121.62M	-

Aspen Aerogels generated $271.10M in revenue during NA 2025, up -40.11% compared to the previous quarter, and up 270.36% compared to the same period a year ago.

Aspen Aerogels Revenue by Quarter

Date	Revenue	Change
2026-03-31	$37.88M	-8.36%
2025-12-31	$41.34M	-43.38%
2025-09-30	$73.02M	-6.42%
2025-06-30	$78.02M	-0.89%
2025-03-31	$78.72M	-36.04%
2024-12-31	$123.09M	4.90%
2024-09-30	$117.34M	-0.37%
2024-06-30	$117.77M	24.62%
2024-03-31	$94.50M	12.21%
2023-12-31	$84.22M	38.62%
2023-09-30	$60.76M	26.16%
2023-06-30	$48.16M	5.64%
2023-03-31	$45.59M	-23.53%
2022-12-31	$59.61M	62.40%
2022-09-30	$36.71M	-19.57%
2022-06-30	$45.64M	18.83%
2022-03-31	$38.41M	22.02%
2021-12-31	$31.48M	3.60%
2021-09-30	$30.38M	-4.07%
2021-06-30	$31.67M	12.72%
2021-03-31	$28.10M	22.07%
2020-12-31	$23.02M	-4.86%
2020-09-30	$24.20M	-1.81%
2020-06-30	$24.64M	-13.29%
2020-03-31	$28.42M	-38.89%
2019-12-31	$46.51M	31.28%
2019-09-30	$35.42M	19.95%
2019-06-30	$29.53M	5.81%
2019-03-31	$27.91M	-21.77%
2018-12-31	$35.68M	49.05%
2018-09-30	$23.94M	10.46%
2018-06-30	$21.67M	-6.08%
2018-03-31	$23.07M	-36.54%
2017-12-31	$36.36M	33.69%
2017-09-30	$27.20M	8.49%
2017-06-30	$25.07M	8.99%
2017-03-31	$23.00M	-16.78%
2016-12-31	$27.64M	-6.50%
2016-09-30	$29.56M	6.65%
2016-06-30	$27.72M	-15.55%
2016-03-31	$32.82M	-12.21%
2015-12-31	$37.38M	18.53%
2015-09-30	$31.54M	4.79%
2015-06-30	$30.10M	28.07%
2015-03-31	$23.50M	-16.02%
2014-12-31	$27.98M	10.01%
2014-09-23	$25.44M	-4.43%
2014-06-30	$26.61M	19.01%
2014-03-31	$22.36M	-7.71%
2013-12-31	$24.23M	10.74%
2013-09-30	$21.88M	-4.78%
2013-06-30	$22.98M	35.12%
2013-03-31	$17.00M	4.31%
2012-09-30	$16.30M	17.61%
2011-06-30	$13.86M	12.79%
2011-03-31	$12.29M	29.37%
2010-06-30	$9.50M	8.60%
2010-03-31	$8.75M	-85.33%
2001-12-31	$59.61M	-

Aspen Aerogels generated $37.88M in revenue during Q1 2026, up -8.36% compared to the previous quarter, and up 30.78% compared to the same period a year ago.

Aspen Aerogels Revenue Breakdown

Aspen Aerogels Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 25	Dec 24	Dec 23	Dec 22	Dec 21
Energy Industrial	$102.20M	$145.87M	$128.64M	-	-
Thermal Barrier	$168.91M	$306.83M	$110.08M	-	-
E V Thermal Barrier	-	-	-	$55.60M	-
Product	-	-	-	-	$121.11M
Service	-	-	-	-	$510.00K

Aspen Aerogels's latest annual revenue breakdown by segment (product or service), as of Dec 25: Thermal Barrier (62.30%), and Energy Industrial (37.70%).

Quarterly Revenue by Product

Product/Service	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21
Energy Industrial	$21.59M	$25.28M	$24.30M	$22.79M	$29.82M	$90.01M	$26.78M	$29.08M	$65.20M	$27.91M	$35.52M	-	-	-	-	-	-	-	-	-
Thermal Barrier	$16.30M	$16.06M	$48.71M	$55.23M	$48.90M	$150.85M	$90.56M	$65.42M	$64.60M	$32.84M	$12.63M	-	-	-	-	-	-	-	-	-
E V Thermal Barrier	-	-	-	-	-	-	-	-	-	-	-	$11.70M	$25.30M	$11.90M	$10.80M	-	-	-	-	-
Product	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$38.33M	$31.30M	$30.26M	$31.49M	$28.06M
Service	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$77.00K	$172.00K	$117.00K	$180.00K	$41.00K

Aspen Aerogels's latest quarterly revenue breakdown by segment (product or service), as of Mar 26: Energy Industrial (56.98%), and Thermal Barrier (43.02%).

Aspen Aerogels Revenue Breakdown by Country

Annual Revenue by Country

Country	Dec 25	Dec 24	Dec 23	Dec 22	Dec 21
Asia	$31.13M	$29.32M	$35.70M	$34.75M	$19.38M
CANADA	$2.47M	$19.27M	$2.03M	$4.95M	$2.98M
Europe	$17.87M	$45.03M	$42.73M	$22.24M	$27.92M
International	$99.02M	$194.18M	$87.68M	-	-
UNITED STATES	$172.08M	$258.52M	$151.04M	$66.84M	-
Latin America	$47.56M	$100.57M	$7.22M	$4.46M	$4.49M

Aspen Aerogels's latest annual revenue breakdown by geography, as of Dec 25: UNITED STATES (46.49%), International (26.75%), Latin America (12.85%), Asia (8.41%), Europe (4.83%), and CANADA (0.67%).

Quarterly Revenue by Country

Country	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21
UNITED STATES	$22.88M	$27.43M	$57.97M	$48.51M	$38.17M	$124.52M	$73.31M	$60.69M	$72.62M	$41.78M	$10.19M	$26.44M	$24.12M	$25.08M	$24.71M	$21.80M	$15.54M	$12.76M	-	-
Asia	$5.47M	$9.01M	$6.40M	$8.55M	$7.17M	$17.67M	$4.44M	$7.21M	$8.18M	$5.80M	$9.94M	$11.78M	$8.47M	$7.30M	$11.65M	$7.32M	$3.96M	$5.28M	$4.55M	$5.59M
Europe	$9.03M	$4.14M	$4.93M	$4.05M	$4.75M	$27.21M	$8.46M	$9.36M	$16.00M	$11.36M	$9.96M	$5.41M	$7.89M	$4.28M	$6.16M	$3.91M	$3.69M	$7.55M	$9.44M	$7.25M
International	$15.00M	$13.91M	$15.05M	$29.51M	$40.55M	$116.34M	$44.03M	$33.81M	$68.71M	$18.97M	-	-	-	-	-	-	-	-	-	-
Latin America	$509.00K	$764.00K	$3.25M	$15.72M	$27.82M	$60.19M	$25.01M	$15.37M	$2.15M	$1.18M	$2.27M	$1.62M	$1.48M	$84.00K	$1.29M	$1.61M	$1.25M	$554.00K	$1.15M	$1.54M
CANADA	-	-	$461.00K	$1.19M	$811.00K	$11.27M	$6.13M	$1.87M	$514.00K	$633.00K	$562.00K	$324.00K	$1.71M	$928.00K	$1.45M	$860.00K	$774.00K	$991.00K	$964.00K	-
U S	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$16.73M	-	-
C A	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$256.00K	-	-

Aspen Aerogels's latest quarterly revenue breakdown by geography, as of Mar 26: UNITED STATES (43.27%), International (28.37%), Europe (17.07%), Asia (10.34%), and Latin America (0.96%).

Aspen Aerogels Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
HY	Hyster-Yale Materials Handling	$3.77B	$795.20M
BXC	BlueLinx	$2.95B	$731.15M
NX	Quanex Building Products	$1.84B	$462.37M
APOG	Apogee Enterprises	$1.40B	$348.56M
FIP	FTAI Infrastructure	$502.52M	$188.36M
ASPN	Aspen Aerogels	$271.10M	$37.88M
KRNT	Kornit Digital	$219.79M	$40.19M
EH	EHang	$117.43M	$61.73M
ADSE	ADS-TEC Energy	$105.18M	$67.72M
LGMK	LogicMark	$11.43M	$3.21M
LTBR	Lightbridge	-	-

ASPN Revenue FAQ

What is Aspen Aerogels’s yearly revenue?

Aspen Aerogels's yearly revenue for 2025 was $271.1M, representing a decrease of -40.11% compared to 2024. The company's yearly revenue for 2024 was $452.7M, representing an increase of 89.64% compared to 2023. ASPN's yearly revenue for 2023 was $238.72M, representing an increase of 32.35% compared to 2022.

What is Aspen Aerogels’s quarterly revenue?

Aspen Aerogels's quarterly revenue for Q1 2026 was $37.88M, a -8.36% decrease from the previous quarter (Q4 2025), and a -51.88% decrease year-over-year (Q1 2025). The company's quarterly revenue for Q4 2025 was $41.34M, a -43.38% decrease from the previous quarter (Q3 2025), and a -66.42% decrease year-over-year (Q4 2024). ASPN's quarterly revenue for Q3 2025 was $73.02M, a -6.42% decrease from the previous quarter (Q2 2025), and a -37.77% decrease year-over-year (Q3 2024).

What is Aspen Aerogels’s revenue growth rate?

Aspen Aerogels's revenue growth rate for the last 3 years (2023-2025) was 13.57%, and for the last 5 years (2021-2025) was 122.91%.

What are Aspen Aerogels’s revenue streams?

Aspen Aerogels's revenue streams in c 25 are Energy Industrial, and Thermal Barrier. Energy Industrial generated $102.2M in revenue, accounting 37.70% of the company's total revenue, down -29.94% year-over-year. Thermal Barrier generated $168.9M in revenue, accounting 62.30% of the company's total revenue, down -44.95% year-over-year.

What is Aspen Aerogels’s main source of revenue?

For the fiscal year ending Dec 25, the largest source of revenue of Aspen Aerogels was Thermal Barrier. This segment made a revenue of $168.9M, representing 62.30% of the company's total revenue.