Aspen Aerogels, Inc. (ASPN) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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ASPN Revenue Growth
Revenue Breakdown (FY 2025)
ASPN's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
ASPN Revenue Analysis (2014–2025)
As of May 8, 2026, Aspen Aerogels, Inc. (ASPN) generated trailing twelve-month (TTM) revenue of $271.1 million, reflecting significant decline in growth of -66.4% year-over-year. The most recent quarter (Q4 2025) recorded $41.3 million in revenue, down 43.4% sequentially.
Looking at the longer-term picture, ASPN's 5-year compound annual growth rate (CAGR) stands at +22.0%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $452.7 million in 2024.
Revenue diversification analysis shows ASPN's business is primarily driven by Thermal Barrier (62%), and Energy Industrial (38%). With over half of revenue concentrated in Thermal Barrier, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including KALU (+20.8% YoY), UFPI (-6.4% YoY), and MTRN (+11.4% YoY), ASPN has underperformed the peer group in terms of revenue growth. Compare ASPN vs KALU →
ASPN Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ASPNCurrent | $271M | -66.4% | +22.0% | -19.0% | |
 KALU | $3.4B | +20.8% | +23.5% | 5.7% | |
 UFPI | $6.3B | -6.4% | +4.2% | 5.8% | |
 MTRN | $1.8B | +11.4% | +8.7% | 6.5% | |
 OC | $10.1B | -9.9% | +7.4% | 17.0% | |
 AWI | $1.6B | +9.7% | +11.6% | 26.6% |
ASPN Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $271.1M | -40.1% | $46.0M | 17.0% | $-51,392,000 | -19.0% |
| 2024 | $452.7M | +89.6% | $182.9M | 40.4% | $54.5M | 12.0% |
| 2023 | $238.7M | +32.4% | $56.9M | 23.8% | $-49,203,000 | -20.6% |
| 2022 | $180.4M | +48.3% | $5.0M | 2.8% | $-79,245,000 | -43.9% |
| 2021 | $121.6M | +21.3% | $9.9M | 8.2% | $-40,599,000 | -33.4% |
| 2020 | $100.3M | -28.1% | $14.6M | 14.6% | $-21,569,000 | -21.5% |
| 2019 | $139.4M | +33.6% | $26.3M | 18.9% | $-14,159,000 | -10.2% |
| 2018 | $104.4M | -6.5% | $12.7M | 12.1% | $-33,916,000 | -32.5% |
| 2017 | $111.6M | -5.2% | $18.7M | 16.7% | $-19,136,000 | -17.1% |
| 2016 | $117.7M | -3.9% | $23.3M | 19.8% | $-11,220,000 | -9.5% |
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Start ComparisonASPN — Frequently Asked Questions
Quick answers to the most common questions about buying ASPN stock.
Is ASPN's revenue growth accelerating or slowing?
ASPN revenue declined -66.4% year-over-year, contrasting with the 5-year CAGR of +22.0%. TTM revenue fell to $271M. This reverses the prior growth trend.
What is ASPN's long-term revenue growth rate?
Aspen Aerogels, Inc.'s 5-year revenue CAGR of +22.0% reflects the variable expansion pattern. Current YoY growth of -66.4% is below this long-term average.
How is ASPN's revenue distributed by segment?
ASPN reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.