10-K · March 20, 2026
Ascent Solar positions itself as a niche supplier of flexible, lightweight CIGS photovoltaic modules for high‑value, weight‑sensitive markets (space, aerospace, UAVs, power‑beaming). The company reported a net loss of…
Earnings analysis · 10-Q
ASTI earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
Ascent Solar Technologies reported revenues of $51,944 for Q1 2026, a substantial increase of 232% from $15,624 in Q1 2025. Despite the revenue growth, the company's net loss widened to $2,177,162, an increase of 30%…
Read full summary
Ascent Solar Technologies reported revenues of $51,944 for Q1 2026, a substantial increase of 232% from $15,624 in Q1 2025. Despite the revenue growth, the company's net loss widened to $2,177,162, an increase of 30% compared to the previous year, attributed to escalating operational costs and ongoing concerns about liquidity and profitability.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.33
What stood out
-
Revenue Growth of 232%
Total revenues increased by $36,320 to $51,944 in Q1 2026, driven by higher orders and milestone engineering revenue.
-
Operational Cash Flow Usage
Operating cash flow usage rose to $2,020,240 in Q1 2026 from $1,550,030 in Q1 2025, indicating increasing cash burn as operations ramp up.
-
Funding via Financing Activities
Cash provided by financing activities reached $15,506,141 in Q1 2026, a significant rise from $635,585 in Q1 2025, highlighting capital-raising efforts.
-
Cost of Revenue uptick
Cost of revenues grew by 193%, totaling $70,737, reflecting the increased production activity associated with the revenue growth.
-
R&D Expense Increase
Research, development, and manufacturing costs increased by 24% to $694,221 in Q1 2026, emphasizing ongoing investment in product development.
-
Reduction in Share-based Compensation
Share-based compensation expenses decreased by 59% to $87,486, as vesting effects from previous RSUs came into play.
What to watch
-
Further Losses and Going Concern
The net loss increased by $502,866 to $2,177,162, maintaining substantial doubt about the company's ability to continue as a going concern.
-
Liquidity Concerns
Management notes continuous doubt regarding liquidity, stating that additional financing will be necessary for operations to continue.
-
High Operational Costs
Total costs and expenses rose by 31% to $2,314,395, indicating that the rapid increase in operational costs could jeopardize profitability.
Management's outlook
Liquidity projections indicate insufficient sales for positive cash flow this year; further financing will be essential.
Earlier filings 4
10-Q · November 10, 2025
Ascent Solar reported Q3 2025 product revenue of $28,549 (vs $8,550 in Q3 2024) with GAAP loss per share of $(0.62). Gross loss narrowed to -211.7% of revenue and operating loss improved to $(1,967,683) for the quarter,…
10-Q · August 12, 2025
Ascent Solar reported Q2 product revenue of $16,961 and GAAP EPS of $(1.17). Revenue rose modestly q/q (from $15,624 to $16,961) but fell materially y/y (from $27,743). The company remains unprofitable with large…
10-Q · May 14, 2025
Ascent Solar reported product revenue of $15,624 for the three months ended March 31, 2025 (up from $5,600 in the prior-year quarter) but remained unprofitable with a net loss of $1,674,296 and loss per share of $1.13.…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.