By Kelly Cloonan

Shares of Aspen Aerogels declined after the company cut its full-year outlook on lower demand for electric vehicles in the U.S.

The stock slid 42% to $4.30 on Thursday. Shares are down 64% this year.

The sustainability and electrification solutions provider said it now expects revenue of $270 million to $280 million for the year, down from its prior outlook of $297 million to $317 million.

It also guided for a steeper full-year loss per share of $4.15 to $4.05, compared to a prior view of $3.86 to $3.73.

The updated outlook reflects lower near-term demand for electric vehicles in the U.S., the company said. The U.S. recently phased out a $7,500 tax credit that boosted EV sales for years.

"The U.S. EV environment has created a challenging backdrop after a period of significant development," Chief Executive Don Young said.

For the third quarter, the company narrowed its loss to $6.33 million, or 8 cents a share, compared with a loss of $13 million, or 17 cents a share, a year earlier.

Adjusted loss per share was 6 cents, compared with analysts expectations of 0 cents, according to FactSet.

Revenue fell 6% to $73 million. Analysts expected $73.4 million.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

November 06, 2025 11:37 ET (16:37 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.