ASPN gives FY revenue guidance. In Q4 2023 they guided to 350 million for FY 24 or 47% YoY. In Q1 they raised guidance to 380 million or 59% YoY. Then in Q2 they raised again to 390 million, which implied they’d do something like 90 million in each of the final two quarters of 2024. Instead they just pre-announced 117 million for Q3 or a 30% beat. So we’ll see where they raise guidance to when they announce in a couple of quarters.
Why is it flat QoQ? Not clear cut. ASPN is supply-constrained to some extent, which is why they want to build another plant. Also the part of their business that produces PyroThin is 68% of revenue, not 100%.
from a high level they are beating and raising and expanding margins (and had a positive operating cash flow margin in Q2) , and the market looks large and growing for the next 3-5 years