Logo

ASTI

Ascent Solar Technologies, Inc. Common Stock

ASTI

Ascent Solar Technologies, Inc. Common Stock • NASDAQ
$1.68 ▲ 7.01% (+0.11)
Market Cap $5.84 M
52w High $4.41
52w Low $1.10
Dividend Yield 0%
P/E -0.64
Volume 15.12K
Outstanding Shares 3.48M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $28.549K ▲ $1.907M ▼ $-2.022M ▲ -7.081K% ▲ $-0.62 ▲ $-1.986M ▼
Q2-2025 $16.961K ▲ $2.077M ▲ $-2.065M ▼ -12.177K% ▼ $-1.17 ▼ $-1.901M ▼
Q1-2025 $15.624K ▲ $1.738M ▲ $-1.674M ▼ -10.716K% ▼ $-1.13 ▼ $-1.512M ▼
Q4-2024 $0 ▼ $860.298K ▼ $-1.456M ▲ 0% ▲ $-1.02 ▲ $-1.428M ▼
Q3-2024 $8.55K $2.193M $-1.691M -19.776K% $-1.37 $-1.379M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.094M ▼ $5.769M ▼ $3.118M ▼ $2.651M ▼
Q2-2025 $2.955M ▲ $6.791M ▲ $3.357M ▼ $3.434M ▲
Q1-2025 $2.256M ▼ $6.173M ▼ $3.596M ▼ $2.577M ▼
Q4-2024 $3.171M ▼ $7.146M ▼ $3.767M ▼ $3.38M ▲
Q3-2024 $3.722M $7.916M $4.59M $3.326M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.022M ▲ $-1.76M ▲ $-104.5K ▼ $1.004M ▼ $-860.841K ▼ $-1.789M ▲
Q2-2025 $-2.065M ▼ $-1.812M ▼ $-2.032K ▼ $2.513M ▲ $699.044K ▲ $-1.812M ▼
Q1-2025 $-1.674M ▼ $-1.55M ▼ $-483 ▼ $635.585K ▼ $-914.928K ▼ $-1.55M ▼
Q4-2024 $-1.456M ▲ $-1.526M ▲ $0 ▲ $975.607K ▲ $-550.803K ▲ $-1.526M ▲
Q3-2024 $-1.691M $-2.051M $-421 $-12.397K $-2.064M $-2.051M

Revenue by Products

Product Q1-2024Q2-2024Q3-2024Q4-2024
Product
Product
 $0 ▲$0 ▲$0 ▲$0 ▲
Government Research And Development
Government Research And Development
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement The income picture is very early‑stage and highly fragile. Reported revenue has essentially been nonexistent for several years, so the company is not yet operating as a normal commercial business. Instead, it is mainly a development platform burning money to fund technology and market entry. Operating losses are small in absolute dollar terms but persistent, which tells you the core business is still in build‑out and testing mode, not yet in a steady sales cycle. Earnings per share have swung wildly, largely because of repeated reverse stock splits and capital structure changes, not because the underlying business suddenly improved or deteriorated. Overall, ASTI remains a pre‑scale company with no proven, recurring revenue base so far.

Balance Sheet

Balance Sheet The balance sheet is very thin and leaves little margin for error. Total assets are modest, and cash balances are low, suggesting limited internal cushions to absorb setbacks or delays. Debt has been small but present, and shareholder equity has hovered around breakeven or even negative territory at times, which signals historical financial strain and heavy reliance on external funding. The long string of reverse stock splits is a sign that the company has repeatedly needed to restructure its share count, typically associated with dilution and difficulty maintaining listing standards. In simple terms, ASTI does not have a strong financial safety net and depends on continued market or partner support to move forward.

Cash Flow

Cash Flow Cash flow is consistently negative from operations, meaning the company spends more cash than it brings in from its day‑to‑day activities. Free cash flow is also negative, showing that, after basic investment needs, the business is still a net cash user. Capital spending has been minimal, which suggests the focus is on keeping the lights on and funding R&D and commercialization efforts rather than heavy factory build‑outs. To sustain itself, ASTI likely relies on raising new capital, grants, or strategic funding. This pattern is typical for a small, technology‑driven firm before it reaches meaningful sales, but it also means the business is exposed to funding and timing risks.

Competitive Edge

Competitive Edge Competitively, ASTI is a niche player with specialized technology rather than a broad, mass‑market solar manufacturer. Its strength lies in very lightweight, flexible thin‑film panels that can go where traditional rigid panels cannot—such as satellites, drones, aerospace hardware, and certain agricultural structures. The company’s patented processes, including flexible substrates, monolithic integration, and roll‑to‑roll manufacturing, give it a differentiated product platform that is hard for standard silicon panel makers to copy quickly. Partnerships and validation from organizations like NASA add credibility in high‑performance markets. However, ASTI is tiny compared with mainstream solar companies, and it competes in demanding segments with long qualification cycles and high technical standards. Its moat is more about unique capabilities in narrow markets than about sheer scale or brand power, and its small size makes execution and commercialization risk quite high.

Innovation and R&D

Innovation and R&D Innovation is the clear strong point. ASTI has built its identity around advanced CIGS thin‑film on flexible plastic, focusing on high specific power and light weight—precisely what aerospace, defense, and certain industrial customers value. The company’s roll‑to‑roll production and monolithic integration are key technical differentiators, enabling thin, durable modules that can be custom‑shaped and integrated into complex surfaces. It is also investing in next‑generation perovskite solar technology, setting up a dedicated center to explore higher‑efficiency designs and potential tandem structures. On top of this, ASTI is tailoring solutions for space (like its Titan modules and hardware developer kits) and agrivoltaics, showing a willingness to co‑develop applications with customers. The main question is not whether the technology is interesting—it clearly is—but whether ASTI can turn that innovation into reliable, scalable, and profitable product lines before funding or market windows tighten.

Summary

ASTI is a highly speculative, innovation‑driven solar company with cutting‑edge flexible thin‑film technology but extremely early‑stage financials. The income statement shows no meaningful revenue yet and ongoing losses, confirming that the business is still in the build‑and‑prove phase rather than in commercial scale‑up. The balance sheet and cash flows underline its fragility: limited assets, thin cash reserves, negative operating cash flow, and a long history of reverse splits and capital stress. On the positive side, the company has a distinctive technical position, protected IP, and alignment with attractive niche markets in space, defense, and agrivoltaics, plus forward‑looking work on perovskites. Overall, ASTI looks like a small R&D‑heavy platform trying to convert promising technology and partnerships into a viable, cash‑generating business, with significant execution and funding uncertainty along the way.

NEWS

October 14, 2025 · 8:00 AM UTC

Ascent Solar Technologies Delivers Thin-Film PV for Saltwater Environment Durability and Space-Based Power Beaming Testing

Read more

September 17, 2025 · 8:00 AM UTC

Ascent Solar and Defiant Space Announce Strategic Partnership to Advance Global Defense and Space Market Opportunities

Read more