Ascent Solar Technologies, Inc. ASTI
Ascent Solar Technologies, Inc. ("Ascent" or the "Company") is a solar technology company that manufactures and sells photovoltaic ("PV") solar modules that are flexible, durable, and possess attractive power to weight and power to area performance. Our technology provides renewable power solutions to high-value production and specialty solar markets where traditional rigid solar panels are not suitable, including space power beaming, aerospace, satellites, near earth orbiting vehicles, fixed wing unmanned aerial vehicles ("UAV"), aquatic, terrestrial, and other weight-sensitive markets (including DoD drone and space operations) with transformational high quality, value added product applications. We operate in these target markets because they have highly specialized needs for power generation and offer attractive pricing due to the significant technological requirements.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $76.8K | $41.9K | $458.3K | $1.2M | $607.8K | $66.6K | $638.4K | $862.4K | $642.2K | $1.7M |
| R&D | $2.4M | $2.3M | $3.2M | $6.0M | $4.1M | $1.2M | $1.3M | $2.8M | $4.8M | $6.6M |
| SG&A | $4.1M | $4.5M | $5.4M | $4.7M | $3.3M | $1.0M | $1.8M | $3.2M | $5.6M | $10.3M |
| Total operating expenses | $8.0M | $8.6M | $16.1M | $18.3M | $9.4M | $2.5M | $3.9M | $7.4M | $14.8M | $26.4M |
| Operating income | -$7.9M | -$8.5M | -$15.6M | -$17.1M | -$8.8M | -$2.5M | -$3.3M | -$6.6M | -$14.1M | -$24.6M |
| Pre-tax income | -$7.9M | — | — | — | — | — | — | — | — | — |
| Income tax | $0 | — | — | — | — | — | — | — | — | — |
| Net income | -$7.9M | -$9.2M | -$17.1M | -$19.8M | -$6.0M | $1.6M | -$4.9M | -$16.0M | -$18.6M | -$38.9M |
| EPS, basic | -3.09 | -10.38 | -3,419.00 | -132.00 | -1.54 | 1.15 | — | — | — | — |
| EPS, diluted | -3.09 | -10.38 | -3,419.00 | -132.00 | -1.54 | 0.32 | -0.00 | -0.69 | -3.15 | -0.42 |
| Shares, diluted (wtd. avg.) | $2.6M | $882.5K | $10.3K | $149.0K | $3.9M | $3.7M | $1.54B | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.8M | $3.2M | $1.0M | $11.5M | $6.0M | $167.7K | — | $18.2K | $89.6K | $130.9K |
| Receivables | $0 | $0 | $0 | $1.8K | $49.2K | $5.5K | $0 | $165.2K | $6.7K | $549.2K |
| Inventory | $543.6K | $453.1K | $447.5K | $615.3K | $592.2K | $534.4K | $533.9K | $660.8K | $1.0M | $2.6M |
| Total current assets | $3.4M | $3.7M | $1.5M | $12.4M | $6.9M | $779.3K | $585.5K | $982.5K | $1.6M | $4.2M |
| Property, plant and equipment | $190.1K | $233.7K | $1.0M | $551.7K | $279.7K | $18.8K | $4.2M | $4.4M | $4.6M | $5.7M |
| Other intangibles | $9.1K | $28.5K | $54.0K | $80.0K | $86.6K | $439.8K | $813.4K | $862.4K | $1.5M | $1.6M |
| Total assets | $6.3M | $7.1M | $6.3M | $18.7M | $12.8M | $7.4M | $5.6M | $6.3M | $7.8M | $11.6M |
| Accounts payable | $394.7K | $449.4K | $579.2K | $595.2K | $642.2K | $737.0K | $1.7M | $2.3M | $1.6M | $4.9M |
| Short-term debt | — | — | $406.7K | $14.9M | — | — | — | $349.1K | $343.4K | $243.1K |
| Total current liabilities | $2.2M | $2.3M | $5.8M | $5.0M | $3.1M | $9.2M | $30.7M | $23.9M | $15.0M | $18.1M |
| Long-term debt | — | — | — | — | — | — | $5.9M | $5.0M | $5.1M | $5.3M |
| Total liabilities | $3.0M | $3.8M | $7.8M | $14.1M | $15.7M | $27.6M | $30.7M | $28.9M | $20.2M | — |
| Retained earnings | -$499.4M | -$491.6M | -$482.5M | -$447.5M | -$427.8M | -$421.8M | -$423.4M | -$418.5M | -$402.5M | -$383.9M |
| Total equity | $3.3M | $3.4M | -$1.5M | $899.3K | -$2.8M | -$20.2M | -$25.1M | -$22.6M | -$15.2M | -$14.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.9M | -$8.4M | -$9.5M | -$10.5M | -$9.4M | -$2.9M | -$2.7M | -$4.0M | -$12.6M | -$16.9M |
| Depreciation and amortisation | $79.7K | $74.1K | $95.2K | $75.6K | $57.3K | $151.7K | $242.8K | $381.1K | $1.2M | $3.6M |
| Stock-based compensation | $1.1M | $1.0M | $2.2M | $5.5M | — | — | $20.8K | $29.3K | $123.3K | $888.3K |
| Capital expenditure | $32.0K | $421 | $3.9M | $169.4K | $280.3K | — | $6.4K | $0 | $6.4K | $51.7K |
| Investing cash flow | -$107.0K | -$421 | -$3.9M | -$265.5K | -$301.5K | $254.4K | $827.5K | -$2.4K | $80.9K | -$158.4K |
| Financing cash flow | $6.6M | $10.5M | $3.0M | $16.3M | $15.5M | $2.8M | $1.9M | $3.9M | $12.5M | $16.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001079973-26-000543.
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