Aspen Aerogels (ASPN) Revenue & Revenue Breakdown

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Aspen Aerogels Revenue Highlights

Latest Revenue (Y)

$452.70M

Latest Revenue (Q)

$73.02B

Main Segment (Y)

Thermal Barrier

Main Geography (Y)

UNITED STATES

Aspen Aerogels Revenue by Period

Aspen Aerogels Revenue by Year

Date	Revenue	Change
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 $452.70M in revenue during NA 2024, up 89.64% compared to the previous quarter, and up 324.81% compared to the same period a year ago.

Aspen Aerogels Revenue by Quarter

Date	Revenue	Change
2025-09-30	$73.02B	93482.74%
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 $73.02B in revenue during Q3 2025, up 93482.74% compared to the previous quarter, and up 61999.66% 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 24	Dec 23	Dec 22	Dec 21	Dec 20
Thermal Barrier	$306.83M	$110.08M	-	-	-
Energy Industrial	$145.87M	$128.64M	-	-	-
E V Thermal Barrier	-	-	$55.60M	-	-
Product	-	-	-	$121.11M	$99.83M
Service	-	-	-	$510.00K	$439.00K

Aspen Aerogels's latest annual revenue breakdown by segment (product or service), as of Dec 24: Thermal Barrier (67.78%), and Energy Industrial (32.22%).

Quarterly Revenue by Product

Product/Service	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	Dec 20	Sep 20
Thermal Barrier	$48.71M	$55.23M	$48.90M	$150.85M	$90.56M	$65.42M	$64.60M	$32.84M	$12.63M	-	-	-	-	-	-	-	-	-	-	-
Energy Industrial	$24.30M	$22.79M	$29.82M	$90.01M	$26.78M	$29.08M	$65.20M	$27.91M	$35.52M	-	-	-	-	-	-	-	-	-	-	-
E V Thermal Barrier	-	-	-	-	-	-	-	-	-	$11.70M	$25.30M	$11.90M	$10.80M	-	-	-	-	-	-	-
Service	-	-	-	-	-	-	-	-	-	-	-	-	-	$77.00K	$172.00K	$117.00K	$180.00K	$41.00K	$-44.00K	$256.00K
Product	-	-	-	-	-	-	-	-	-	-	-	-	-	$38.33M	$31.30M	$30.26M	$31.49M	$28.06M	$23.06M	$23.94M

Aspen Aerogels's latest quarterly revenue breakdown by segment (product or service), as of Sep 25: Thermal Barrier (66.71%), and Energy Industrial (33.29%).

Aspen Aerogels Revenue Breakdown by Country

Annual Revenue by Country

Country	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
CANADA	$19.27M	$2.03M	$4.95M	$2.98M	-
Europe	$45.03M	$42.73M	$22.24M	$27.92M	-
UNITED STATES	$258.52M	$151.04M	$66.84M	$44.84M	-
Latin America	$100.57M	$7.22M	$4.46M	$4.49M	-
International	$194.18M	$87.68M	-	-	-
Asia	$29.32M	$35.70M	$34.75M	$19.38M	-

Aspen Aerogels's latest annual revenue breakdown by geography, as of Dec 24: UNITED STATES (39.96%), International (30.02%), Latin America (15.55%), Europe (6.96%), Asia (4.53%), and CANADA (2.98%).

Quarterly Revenue by Country

Country	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	Dec 20	Sep 20
Europe	$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	-	-
Asia	$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	-	-
UNITED STATES	$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	$13.34M	$9.74M	-	-
Latin America	$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	-	-
International	$15.05M	$29.51M	$40.55M	$116.34M	$44.03M	$33.81M	$68.71M	$18.97M	-	-	-	-	-	-	-	-	-	-	-	-
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	-	-	-
C A	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$256.00K	-	-	-	-
U S	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$16.73M	-	-	-	-

Aspen Aerogels's latest quarterly revenue breakdown by geography, as of Sep 25: UNITED STATES (65.83%), International (17.09%), Asia (7.27%), Europe (5.60%), Latin America (3.69%), and CANADA (0.52%).

Aspen Aerogels Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
HY	Hyster-Yale Materials Handling	$4.31B	$979.10M
BXC	BlueLinx	$2.95B	$748.87M
APOG	Apogee Enterprises	$1.36B	$358.19M
NX	Quanex Building Products	$1.28B	$495.27M
ASPN	Aspen Aerogels	$452.70M	$73.02B
FIP	FTAI Infrastructure	$331.50M	$140.56M
KRNT	Kornit Digital	$219.79M	$40.19M
EH	EHang	$117.43M	$61.73M
ADSE	ADS-TEC Energy	$105.18M	$67.72M
LGMK	LogicMark	$9.93M	$2.85M
LTBR	Lightbridge	-	-

ASPN Revenue FAQ

What is Aspen Aerogels’s yearly revenue?

Aspen Aerogels's yearly revenue for 2024 was $452.7M, representing an increase of 89.64% compared to 2023. The company's yearly revenue for 2023 was $238.72M, representing an increase of 32.35% compared to 2022. ASPN's yearly revenue for 2022 was $180.36M, representing an increase of 48.30% compared to 2021.

What is Aspen Aerogels’s quarterly revenue?

Aspen Aerogels's quarterly revenue for Q3 2025 was $73.02B, a 93482.74% increase from the previous quarter (Q2 2025), and a 62126.86% increase year-over-year (Q3 2024). The company's quarterly revenue for Q2 2025 was $78.02M, a -0.89% decrease from the previous quarter (Q1 2025), and a -33.75% decrease year-over-year (Q2 2024). ASPN's quarterly revenue for Q1 2025 was $78.72M, a -36.04% decrease from the previous quarter (Q4 2024), and a -16.70% decrease year-over-year (Q1 2024).

What is Aspen Aerogels’s revenue growth rate?

Aspen Aerogels's revenue growth rate for the last 3 years (2022-2024) was 150.99%, and for the last 5 years (2020-2024) was 351.47%.

What are Aspen Aerogels’s revenue streams?

Aspen Aerogels's revenue streams in c 24 are Thermal Barrier, and Energy Industrial. Thermal Barrier generated $306.83M in revenue, accounting 67.78% of the company's total revenue, up 178.74% year-over-year. Energy Industrial generated $145.87M in revenue, accounting 32.22% of the company's total revenue, up 13.39% year-over-year.

What is Aspen Aerogels’s main source of revenue?

For the fiscal year ending Dec 24, the largest source of revenue of Aspen Aerogels was Thermal Barrier. This segment made a revenue of $306.83M, representing 67.78% of the company's total revenue.