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Ascent Solar Technologies, Inc. (ASTI)
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Performance Outlook
| Previous Close | 0.0142 |
| Open | 0.0140 |
| Bid | 0.0000 x 0 |
| Ask | 0.0000 x 0 |
| Day's Range | 0.0125 - 0.0150 |
| 52 Week Range | 0.0001 - 0.0970 |
| Volume | 134,894,998 |
| Avg. Volume | 49,273,436 |
| Market Cap | 262.342M |
| Beta (5Y Monthly) | 2.14 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.0000 |
| Earnings Date | May 13, 2021 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 3.00 |
Fair Value
Related Research
- GlobeNewswire
Ascent Solar Announces First Quarter 2021 Financial Results
THORNTON, CO, May 25, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Ascent Solar Technologies, Inc. (OTC: ASTI), a developer and manufacturer of state-of-the-art, lightweight, and flexible thin-film photovoltaic (PV) solutions, reported results for the quarter ended March 31, 2021. Q1-2021 Financial Results: The Company posted net revenue of $165K for Q1 2021, a sharp increase from the corresponding quarter in 2020 of $4K. As reported previously, the Company was predominantly in a dormant status in the first nine months of 2020 due to financial constraints and COVID-19. After a series of restructuring and recapitalization activities which began in June 2020, the Company materially restarted its operations in October 2020. Hence, leading to increased revenue as compared to the same period last year. Cost of revenue, however, remained relatively flat at $73K from the corresponding quarter in 2020 despite the sharp increase in net revenue and production level. This is due to our primary focus in high-margin Tier-1 specialty PV markets and better operational efficiency resulting from increasing production activity. Research, development and manufacturing operations expense increased from $159K in the first quarter of 2020 to $728K in this reporting period due primarily to ramp up costs associated with the restart of the operations. Selling, general and administrative expenses also increased in this period to $562K, up from $70K in first quarter of 2020 due to increased headcount necessary for the restart of operations. As a result, the Company registered a loss from operations of $1.2M in the quarter ended March 31, 2021 as compared to a $354K loss in the first quarter of 2020. Despite the loss from operations, the Company reported net profit of $1.9M for the quarter, which included a substantial gain of approximately $3.6M from the extinguishment of the derivative liability associated with the outstanding convertible notes, offset by $562K of accrued interest expense. Cash and cash equivalents have also improved sharply from a $168K balance in first quarter of 2020 to $3.7M for the quarter ended March 31, 2021. Net working capital swung from negative $8.4M as of March 31, 2020 to positive $1.1M for the period ended March 31, 2021. Most notably, the Company has reduced total liabilities by $11.2M, down from $27.6M in first quarter of 2020 to $16.3M at the close of this reporting period. Management Comments: “I am pleased with the results, both financially and operationally,” said Mr. Victor Lee, President and CEO of Ascent Solar Technologies, Inc. “Since September of 2020, the Ascent team has been working tirelessly to restart our operations and get caught up with the required SEC filings. Despite setbacks caused by various challenges including the lack of financial resources and the impact of COVID-19 in 2020, we have demonstrated great resiliency and are now current in our filing status, as well as getting back to regular production mode,” continued Mr. Lee. Mr. Lee concluded, “We will build on the strength of our first quarter effort and continue to deliver improved results going forward. The recent delivery of a large PV order as announced on May 17, 2021, will certainly add to revenue growth in the second quarter and beyond. We are optimistic and certainly look forward to stronger years ahead, as we begin to execute our focused strategy in the high-value PV market. We will update our shareholders as we make continued progress.” ABOUT ASCENT SOLAR TECHNOLOGIES, INC.: Ascent Solar Technologies, Inc., is a developer of thin-film photovoltaic modules using flexible substrate materials that are more versatile and rugged than traditional solar panels. Ascent Solar modules were named as one of the top 100 technologies in both 2010 and 2015 by R&D Magazine, and one of TIME Magazine's 50 best inventions for 2011. The technology described above represents the cutting edge of flexible power and can be directly integrated into consumer products and off-grid applications, as well as other aerospace applications. Ascent Solar is headquartered in Thornton, Colorado, and more information can be found at www.AscentSolar.com. Forward-Looking Statements: Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission. Ascent Solar TechnologiesInvestor Relations: IR@AscentSolar.com
- GlobeNewswire
Ascent Solar Completes Delivery of A Major Contract to Supply Its Newly Designed HyperLight Thin-Film Modules for High Altitude Airship Application
THORNTON, CO, May 17, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire ‒ Ascent Solar Technologies, Inc. (OTC: ASTI), a developer and manufacturer of state-of-the-art, lightweight and flexible thin-film photovoltaic (PV) solutions (“Ascent” or the “Company”), announces that the Company has completed the delivery of a major contract for its HyperLight thin-film modules for high altitude airship applications. The HyperLight family of modules further reduces packaging and PV module mass, achieving best-in-class power-to-weight ratio (Specific Power) of over 350 W/kg for a fully laminated product on an airship, while streamlining customer operations to integrate the modules to their application. The shipment represents the third and the largest order from the customer since March 2018. The customer is the developer of the world’s most advanced unmanned, helium-filled airship operating in the stratosphere at an altitude greater than 60,000 feet above sea level. The robust, versatile and solar-powered high-altitude platform aims to provide several services, including to deliver high-speed internet directly-to-device, enable high-resolution real-time Earth imagery, and facilitate other humanitarian endeavors. Ascent’s flexible, ultra-lightweight, monolithically-integrated photovoltaics (PV) are based on the copper-indium-gallium-selenium (CIGS) chemistry and will benefit various future missions, ranging from CubeSats, solar sails, and potentially missions to the moon and Mars. In order to obtain the necessary data to determine how flexible CIGS performs in the space environment, Ascent’s PV modules have been undergoing extensive evaluation for years, including protracted and demanding ground simulation test and, as a part of the 10th Materials International Space Station Experiment (MISSE-X) flight experiment aboard the International Space Station that was launched on November 17, 2018 for a duration of over one year. The upcoming LISA-T demonstration, part of NASA’s Pathfinder Technology Demonstrator 4 CubeSat slated for launch in 2022, will also include Ascent’s flexible CIGS as part of its further photovoltaic experiment. Dr. Joseph Armstrong, Founding Team Member, Chief Technology and Chief Operating Officer of Ascent Solar, said, "We have noted previously that Ascent's thin-film CIGS PV technology produces modules with the highest power-to-weight ratio, and this characteristic is incredibly important for aerospace, near-space, and space applications. We were able to provide our customer with a unique modular product that is designed to reduce part count significantly over our competition, while providing the ability and flexibility to integrate the modules into different form factors for different applications as their product evolves. Based upon results from the first two orders supplied to them, we worked with the customer to significantly reduce the mass of the PV module while including in-laminate circuit protection to enable them to streamline their integration process as well. It is a testament to our Ascent Solar team that we were able to complete this order that dramatically improved upon performance from earlier designs while overcoming significant challenges of the past 15 months." "This contract is by far the single largest PV sales contract in the corporate history of Ascent Solar, which follows the success of multiple large shipments of such customized high-voltage superlight thin-film for high altitude applications," said Victor Lee, CEO and President of Ascent Solar Technologies, Inc. "The contract is not only significant in value but also underscores the power of Ascent's proprietary technology to address these rapidly emerging and growing premium PV markets. We hope that this contract is only the 'tip of the iceberg' as the project, if successfully launched, is expected to be rolled out on a much larger scale in the future." ABOUT ASCENT SOLAR TECHNOLOGIES, INC: Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules using flexible substrate materials that are more versatile and rugged than traditional solar panels. Ascent Solar modules were named as one of the top 100 technologies in both 2010 and 2015 by R&D Magazine, and one of TIME Magazine's 50 best inventions for 2011. The technology described above represents the cutting edge of flexible power and can be directly integrated into consumer products and off-grid applications, as well as other aerospace applications. Ascent Solar is headquartered in Thornton, Colorado, and more information can be found at www.AscentSolar.com. Forward-Looking Statements Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission. Ascent Solar TechnologiesInvestor Relations: IR@AscentSolar.com
- GlobeNewswire
Ascent Solar Files 2020 10-K and Reports Full Year 2020 Financial Results
THORNTON, CO, May 13, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Ascent Solar Technologies, Inc. (OTC: ASTI), a developer and manufacturer of state-of-the-art, lightweight, and flexible thin-film photovoltaic (PV) solutions, reported full year financial results for the year ended December 31, 2020 in its 10-K filing. Beginning in June 2020, the Company entered into series of agreements and activities to recapitalize and restructure its balance sheet. Details of the recapitalization and restructuring of the company can be found in the form 10-K. In addition, we have appointed a new CFO and restructured the Board of Directors. Appointment of New CFO and New Directors On October 5, 2020, the Company appointed Michael Gilbreth to serve as the CFO of the Company, succeeding Victor Lee who had been serving in an interim CFO role. Mr. Lee continues to serve as Chief Executive Officer and a director of the Company. On December 10, 2020, the Company appointed Will Clarke as a Class 2 director, filling the vacancy left by the resignation of Mr. G. Thomas Marsh as director of the Company in early 2020. The Company also appointed David Peterson, representative of the new investors Crowdex Investment LLC and Penumbra Solar Inc., as a Class 3 director on the same day. The newly constituted Board of Directors now has five members, comprised of Dr. Amit Kumar, Chairman of the Board, Kim Huntley and Will Clarke as the independent directors, and Victor Lee and Dave Peterson as non-independent directors. Management Comments: “Since September of 2020, we have been working tirelessly to restart our operations and get caught up with the required SEC filings,” commented Victor Lee, President and CEO of Ascent Solar Technologies, Inc. “Despite setbacks caused by various challenges including the lack of financial resources and the impact of COVID-19 in 2020, I am extremely pleased with our recent restructuring and recapitalization efforts, our currency in our SEC filings, as well as the new Board of Directors composition, and our appointment of Michael Gilbreth as CFO,” continued Mr. Lee. “We will continue our reorganization effort to strengthen our balance sheet and streamline our business model to focus on our core strength in the Tier-1 specialty PV markets with high entry barriers like the space and near-space, aviation (drones), military, 1st Responders and emergency power markets.” “The Company has made significant progress in these high-value markets, and we will continue to sharpen our focus in such areas where Ascent is truly at the forefront of the competition. Most notably, Ascent’s superlight thin-film modules were selected and launched by NASA Marshall Space Flight Center to the International Space Station on November 17, 2018 as part of the MISSE-X flight experiment, as well as selection for further participation in two upcoming flight demonstrations – the Lightweight Integrated Solar Array and anTenna (LISA-T) project and the Solar Cruiser solar sail project. Other notable milestones include our continuous development effort with JAXA (Japan Aerospace Exploration Agency)’s SolarPowerSail project utilizing Ascent’s superlight thin-film modules, as well as multiple other private agencies’ selection of our PV technology for further testing and evaluation for deep space missions.” Mr. Lee concluded, “Great progress was also made in the defense and emergency power market, which we believe will add to revenue growth in 2022 and beyond. We are optimistic and certainly look forward to stronger years ahead, as our high-value PV market focus begins to take shape. We will update our shareholders as we make continued progress.” Dr. Amit Kumar, Chairman of Ascent Solar, said, “The opportunities for non-fossil fuel energy production continues to grow especially in the high value markets such as space, aviation and military where Ascent’s technology maintains a very strong competitive advantage. We look forward to providing products into these rapidly growing markets where margins can be very favorable.” ABOUT ASCENT SOLAR TECHNOLOGIES, INC: Ascent Solar Technologies, Inc., is a developer of thin-film photovoltaic modules using flexible substrate materials that are more versatile and rugged than traditional solar panels. Ascent Solar modules were named as one of the top 100 technologies in both 2010 and 2015 by R&D Magazine, and one of TIME Magazine's 50 best inventions for 2011. The technology described above represents the cutting edge of flexible power and can be directly integrated into consumer products and off-grid applications, as well as other aerospace applications. Ascent Solar is headquartered in Thornton, Colorado, and more information can be found at www.AscentSolar.com. Forward-Looking Statements: Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission. Ascent Solar Technologies Investor Relations: IR@AscentSolar.com
