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ASPI

ASP Isotopes Inc. Common Stock

ASPI

ASP Isotopes Inc. Common Stock • NASDAQ
$6.22 ▲ 5.07% (+0.30)
Market Cap $580.99 M
52w High $14.49
52w Low $3.65
Dividend Yield 0%
P/E -4.44
Volume 3.02M
Outstanding Shares 93.41M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.89M ▲ $15.39M ▲ $-12.874M ▲ -263.298% ▲ $-0.15 ▲ $-14.967M ▲
Q2-2025 $1.198M ▲ $12.541M ▲ $-75.063M ▼ -6.264K% ▼ $-1.03 ▼ $-74.45M ▼
Q1-2025 $1.102M ▼ $8.279M ▲ $-8.446M ▲ -766.717% ▲ $-0.12 ▲ $-8.296M ▲
Q4-2024 $1.194M ▲ $8.254M ▲ $-9.181M ▼ -769.034% ▼ $-0.16 ▼ $-8.937M ▼
Q3-2024 $1.088M $5.728M $-7.271M -668.5% $-0.12 $-7.097M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $113.942M ▲ $225.89M ▲ $129.286M ▲ $74.069M ▲
Q2-2025 $67.679M ▲ $135.914M ▲ $107.603M ▲ $25.232M ▼
Q1-2025 $55.965M ▼ $90.874M ▼ $45.147M ▲ $42.513M ▼
Q4-2024 $61.89M ▲ $94.348M ▲ $43.182M ▲ $47.898M ▲
Q3-2024 $51.572M $84.126M $42.114M $38.695M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-12.894M ▲ $-8.858M ▼ $-1.504M ▲ $56.704M ▲ $46.263M ▲ $-12.006M ▼
Q2-2025 $-75.157M ▼ $-7.901M ▼ $-31.748M ▼ $51.006M ▲ $11.714M ▲ $-9.65M ▼
Q1-2025 $-8.461M ▲ $-3.17M ▲ $-2.359M ▲ $-225.096K ▼ $-5.925M ▼ $-5.529M ▲
Q4-2024 $-9.221M ▼ $-3.76M ▲ $-3.02M ▲ $17.664M ▼ $10.319M ▼ $-6.78M ▲
Q3-2024 $-7.372M $-4.84M $-5.292M $32.426M $23.309M $-9.325M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Construction
Construction
 $0 ▲$0 ▲$0 ▲
Product
Product
 $0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement ASPI is still a pre‑revenue, development‑stage company. It has not yet turned its technology into meaningful sales, so the income statement is driven almost entirely by research, development, and overhead costs. Losses have been consistent and are gradually widening as the company ramps up activity. Earnings per share are negative, reflecting this early investment phase rather than any proven commercial scale. In practical terms, today’s income statement shows a company still in “build mode,” not yet in “profit mode.”

Balance Sheet

Balance Sheet The balance sheet is small and relatively simple. The company holds a modest cash balance and a limited pool of total assets, which is typical for a young, asset‑light technology developer. Equity is positive but thin, and the introduction of debt is a new element, suggesting ASPI is starting to use borrowing alongside equity funding. Overall, the balance sheet provides some flexibility but not a large financial cushion; continued progress will likely depend on access to additional capital over time.

Cash Flow

Cash Flow Cash flows reflect a business that is funding development rather than generating cash from operations. Operating cash flow is clearly negative, indicating that day‑to‑day activities consume cash. Free cash flow is even more negative as the company has begun to invest in equipment and facilities, signaling a transition from pure R&D toward initial infrastructure build‑out. This pattern is typical for a young, growth‑oriented company but implies an ongoing need for external financing until commercial revenues scale up.

Competitive Edge

Competitive Edge ASPI is aiming at a niche but strategically important corner of the chemicals and materials market: enriched isotopes for advanced semiconductors, nuclear energy, and medical uses. Its proprietary enrichment technologies, the complexity of the science, and strict regulation all create high barriers to entry. A key part of its pitch is providing a Western alternative to currently concentrated, geopolitically sensitive isotope supply. Vertical integration into radiopharmaceuticals could deepen customer relationships and capture more value. The flip side is that ASPI is competing against a small set of well‑resourced, highly specialized players and must still prove its ability to operate reliably at scale and meet strict regulatory and customer standards.

Innovation and R&D

Innovation and R&D Innovation is the heart of ASPI’s story. The company is built around two proprietary enrichment approaches designed to be more modular, efficient, and environmentally friendly than traditional methods. It is targeting high‑value applications such as ultra‑pure silicon for quantum computing, advanced nuclear fuel, and critical medical isotopes. The roadmap includes new facilities in multiple countries, a possible spin‑off focused on nuclear fuels, and a pipeline of additional isotopes for healthcare and high‑tech industries. This offers substantial upside potential if the technologies work at scale and win customer adoption, but it also introduces significant technical, regulatory, and execution risk, as much of this pipeline is still pre‑commercial.

Summary

ASPI today looks more like a specialized technology start‑up than a traditional chemicals producer. Financially, it is pre‑revenue, loss‑making, and cash‑consuming, with a modest balance sheet and growing investment in facilities. Strategically, it is targeting critical supply gaps in isotopes for semiconductors, nuclear energy, and medicine, supported by proprietary enrichment technologies and a push to build a secure Western supply chain. The long‑term story is about converting this technology platform and pipeline into stable, diversified revenues. The key uncertainties are execution at industrial scale, navigating regulation, securing long‑term customer contracts, and maintaining access to funding during the years before operations potentially turn profitable.

NEWS

November 28, 2025 · 9:37 AM UTC

ASP Isotopes Announces Endowment of New Photonics Chair at Wits University to Advance Photonics Research

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November 17, 2025 · 4:31 PM UTC

ASP Isotopes to Provide Quarterly Business Update Call on November 21, 2025 at 8:30am EST

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November 7, 2025 · 9:29 AM UTC

Quantum Leap Energy LLC Announces Private Placement of Convertible Notes Led by American Ventures LLC

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October 15, 2025 · 7:00 AM UTC

ASP Isotopes Inc. Announces Pricing of Public Offering of Common Stock

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October 14, 2025 · 4:18 PM UTC

ASP Isotopes Inc. Announces Proposed Public Offering of Common Stock

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