Aspen Aerogels, Inc. · NYSE:ASPN
Aspen Aerogels — Investor Presentation (September 2015)
23 slides from Aspen Aerogels's investor presentation, September 2015
Slide 1: Investor Presentation September 2015
Investor Presentation September 2015 1
Slide 2: Disclaimer
Disclaimer This presentation contains statements that constitute “forward looking statements” under the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this presentation, including statements regarding our short-term and long-te
Slide 3: Disclaimer
Disclaimer This presentation contains market data and industry forecasts that were obtained from industry publications, third party market research and publicly available information. These publications generally state that the information contained therein has been obtained from sources believed to
Slide 4: Experienced Leadership Team
Experienced Leadership Team President, CEO and member of Board of Aspen Aerogels since 2001 Donald R. Young Prior to 2001, worked in the U.S. and abroad in a range of senior operating President & CEO roles for Cabot Corporation Graduate of Harvard College and earned an MBA from Harvard Busines
Slide 5: Aspen Aerogels: An Energy Technology Company
Aspen Aerogels: An Energy Technology Company Designs, develops and manufactures innovative, high-performance aerogel insulation primarily used in large- scale energy infrastructure process facilities Offers a superior combination of performance and long-term value End users save money, reduce
Slide 6: Unique Technological Advantages
Unique Technological Advantages Advantages vs. Traditional What are Aerogels? Our Breakthrough Technology Insulation Aerogels are an amorphous Industrially robust Best thermal performance of any silica solid widely used insulation product Unique product form Characterized by impressive R
Slide 7: Disruptive Products with Compelling Value Proposition
Disruptive Products with Compelling Value Proposition Traditional Insulation Conductivity Two to five times better thermal performance Thermal Best Thermal Pyrogel XT Performance Broad range of applications from -200°C to 650°C Temperature Range Reduced Vapor Permeable Enhances plant safety Co
Slide 8: Overview of The Energy Insulation Market
Overview of The Energy Insulation Market Energy Insulation End Markets – by Sector Energy Insulation End Markets – by Region $ Millions $ Millions $4,000 $4,000 $3,546 $3,546 $3,500 492 523 $3,000 $2,814 $3,000 $2,814 494 $2,443 384 $2,443 402 102 $2,500 327 239 1,485 418 342 $2,000 366 81 $2,000 61
Slide 9: Global Distribution Network and Installed Base
Global Distribution Network and Installed Base Distributor Contractor OEM Installed Base Installed in more than 40 countries worldwide 30 direct sales employees and 45 distributors Source: Company Management. 9
Slide 10: Industry-Leading End Users
Industry-Leading End Users 10
Slide 11: Revenue Growth
Revenue Growth Revenue Growth 2009 to 2014 ($ in millions) $102.4 $86.1 $63.5 $46.0 $43.2 $28.6 2009 2010 2011 2012 2013 2014 11
Slide 12: Financial Overview
Financial Overview | aspen aerogels 12
Slide 13: Financial Highlights
Financial Highlights Technology company with significant market adoption History of top-line growth Sufficient scale for positive cash flow from operations IPO proceeds are funding capacity expansions Expansions expected to offer attractive return on capital Modest ongoing maintenance capi
Slide 14: 2014 Financial Performance
2014 Financial Performance Strong top and bottom line growth Year Ended Change ($ in thousands) 12/31/14 12/31/13 $ % Total Revenue $ 102,399 $ 86,094 $ 16,305 19% Cost of Revenue 85,319 75,363 9,956 13% Gross Profit 17,081 10,731 6,350 59% Operating Expenses 33,123 30,703 2,420 8% Operating Loss (1
Slide 15: First Half 2015 Financial Performance
First Half 2015 Financial Performance Revenue constrained, but solid bottom line growth Six Months Ended Change ($ in thousands) 6/30/15 6/30/14 $ % Total Revenue $ 53,596 $ 48,978 $ 4,618 9% Cost of Revenue 43,972 42,207 1,765 4% Gross Profit 9,624 6,771 2,853 42% Operating Expenses 15,066 17,789 (
Slide 16: Quarterly Adjusted EBITDA
Quarterly Adjusted EBITDA History of Positive Adjusted EBITDA For the Three Months Ended LTM ($ in thousands) 3/31/14 6/30/14 9/30/14 12/31/14 3/31/15 6/30/15 6/30/15 Total Revenue $22,363 $26,615 $25,437 $27,984 $23,500 $30,096 $ 107,017 Cost of Revenue 19,017 23,190 20,365 22,748 18,986 24,987 87,
Slide 17: Capacity Expansion Plan
Capacity Expansion Plan Annual Capacity Historical Projected (MM ft2 / year) 100 Plant 2 - Line 1 80 60 Line 3 Line 2 40 Line 1 Expansion East Providence 20 Line 1 0 2008A 2009A 2010A 2011A 2012A 2013A 2014A 2015E 2016E 2017E 2018E Nameplate Capacity(1), Year-End Effective Capacity(2), Annual Actual
Slide 18: Key Business Highlights
Key Business Highlights 1) Disruptive insulation products offering superior value and performance 2) Attractive and growing energy infrastructure end markets 3) Substantial installed base with industry-leading end users 4) Significant growth opportunities: expanded market penetration and new project
Slide 19: Appendices
Appendices | aspen aerogels 19
Slide 20: Reconciliation
Reconciliation Year Ended ($ in thousands) 12/31/14 12/31/13 Net loss $ (66,324) $ (47,611) Interest expense 50,281 30,599 Depreciation and amortization 10,183 10,061 Stock-based compensation 8,781 4,426 Loss on disposal of assets 119 230 Gain on extinguishment of convertible notes - (8,898) Loss on
Slide 21: Reconciliation
Reconciliation Six Months Ended 6/30/15 6/30/14 ($ in thousands) Net loss $ (5,532) $ (61,196) Interest expense 90 50,178 Depreciation and amortization 4,759 5,179 Stock-based compensation 2,699 6,344 Loss on disposal of assets - 15 Adjusted EBITDA $ 2,016 $ 520 Note: The table above presents a reco
Slide 22: Reconciliation
Reconciliation ($ in thousands) Three Months Ended 3/31/14 6/30/14 9/30/14 12/31/14 3/31/15 6/30/15 Net loss $ (19,049) $ (42,148) $ (2,412) $ (2,715) $ (2,790) $ (2,743) Interest expense 16,151 34,027 47 56 45 45 Depreciation and amortization 2,631 2,547 2,513 2,492 2,184 2,574 Stock-based compensa
Slide 23: Investor Presentation September 2015
Investor Presentation September 2015 23
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