Investment Thesis
Ascent Solar Technologies is in severe financial distress with collapsing revenues (down 90.9% YoY), massive operating losses, and negative cash generation. The company is burning cash at -$5.1M annually while carrying 2.41x debt-to-equity leverage, creating an existential solvency risk within months given only $2.1M in cash reserves.
ASTI Strengths
- Adequate current ratio of 1.23x suggests near-term liquidity for immediate obligations
- Two Form 4 insider filings indicate some management activity, though in a distressed context
- Positive net income YoY improvement of 0.4% is nominal but prevents further deterioration in loss magnitude
ASTI Risks
- Revenue collapse of 90.9% YoY indicates complete loss of market demand or operational shutdown
- Operating margin of -9492.5% and net margin of -9424.1% reflect business model failure with minimal revenue covering massive fixed costs
- Negative free cash flow of -$5.1M combined with $2.1M cash reserves creates runway of only 5 months; long-term debt of $6.4M exceeds total assets of $5.8M
- Debt-to-equity ratio of 2.41x with negative interest coverage ratio of -12.5x indicates inability to service debt obligations
- ROE of -217.3% and ROA of -99.9% demonstrate complete destruction of shareholder capital
Key Metrics to Watch
- Operating cash flow trend and cash runway timeline
- Revenue stabilization or further deterioration
- Debt restructuring or refinancing announcements
ASTI Financial Metrics
ASTI Profitability Ratios
ASTI Balance Sheet & Liquidity
ASTI 5-Year Financial Trend
5-Year Trend Summary: Ascent Solar Technologies, Inc.'s revenue has declined by 28% over the 5-year period, indicating business contraction. The most recent EPS of $-3,419.00 indicates the company is currently unprofitable.
ASTI Growth Metrics (YoY)
ASTI Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $8.6K | -$1.7M | $-0.62 |
| Q2 2025 | $17.0K | -$1.7M | $-1.17 |
| Q1 2025 | $5.6K | -$1.7M | $-1.13 |
| Q3 2024 | $8.6K | -$1.7M | $-1.37 |
| Q1 2024 | $5.6K | -$2.5M | $-0.53 |
| Q3 2023 | $6.3K | -$1.9M | $-4.04 |
| Q2 2023 | $27.7K | -$2.3M | $-0.07 |
| Q1 2023 | $124.2K | -$4.3M | $-0.17 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
ASTI Capital Allocation
ASTI SEC Filings
Access official SEC EDGAR filings for Ascent Solar Technologies, Inc. (CIK: 0001350102)