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what it is
Asp Isotopes makes Molybdenum-100, Carbon-14, and Silicon-28 for medical work and nuclear fuel.
how it gets paid
Last year Asp Isotopes made $4M in revenue. Molybdenum-100 was the main engine at $1.5M, or 38% of sales.
what just happened
Revenue rose to $7M while EPS fell to -$1.27 and gross margin was 18.4%.
At a glance
B balance sheet — gets the job done, barely
-$0.63 fy2024 eps est
$4M fy2024 rev est
n/a operating margin
1.4 beta
xvary composite: 47/100 — below average
What they do
Asp Isotopes makes Molybdenum-100, Carbon-14, and Silicon-28 for medical work and nuclear fuel.
The edge is specialization, not scale. It sells Molybdenum-100, Carbon-14, and Silicon-28, so you are not buying a generic materials business. With 136 employees and a $7M quarter, every contract matters, and 18.4% gross margin means $1 of sales keeps 18 cents before overhead.
How they make money
$4M
annual revenue
Molybdenum-100
$1.5M
Carbon-14
$1.1M
Silicon-28
$0.9M
Helium and other isotopes
$0.5M
The products that matter
enriched semiconductor material
Silicon-28
largest contract · Q1 2026 delivery
this is the clearest near-term proof point on the page. If Q1 2026 turns into shipped product and recognized revenue, the story moves from promise to evidence.
revenue catalyst
nuclear safety isotope supply
Gadolinium-157
Isotopia deal · signed june 2025
the Isotopia agreement gives ASPI a path into a niche market where qualified supply is limited. That matters because niche industrial markets tend to reward the supplier that actually delivers, not the one with the best presentation.
early commercial proof
advanced reactor fuel pathway
HALEU Nuclear Fuel
Necsa collaboration · announced feb 2026
this points at a much larger future market, but the timing matters. Today it is strategic optionality, not current revenue. If you own ASPI, this is the long-dated upside case, not the number paying the bills now.
long-dated option
Key numbers
$4M
annual revenue
That is the full annual sales base. Against a $661M market cap, you are paying about 165 times sales.
$7M
latest quarter
The latest quarter was bigger than the whole annual figure, which is the kind of gap that makes the story feel weird.
n/a
operating margin
Prior margin KPI failed sanity check — verify in filings. For every $1 sold, the company lost about $6.36 before overhead.
$101M
long-term debt
Debt is 13% of capital, so lenders still sit in the room while the story is losses and new deals.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt $101M (13% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for ASPI right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue rose to $7M while EPS fell to -$1.27 and gross margin was 18.4%.
Revenue was up 47% vs. prior year. EPS fell hard, so the growth is real but the profits are not there yet.
$7M
revenue
-$1.27
eps
18.4%
gross margin
the number that mattered
The 47% jump to $7M mattered because it showed demand. The loss at -$1.27 EPS showed the growth did not pay the bills yet.
source: company earnings report, 2026
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What could go wrong
this is a narrow-path setup: a $661M valuation, $4.9M in revenue, and a $105.6M trailing loss mean you do not need a disaster for the stock to struggle. You only need the timeline to stretch.
high
commercial timing slips
the entire setup leans on early deliveries becoming repeatable revenue. If Silicon-28 moves past Q1 2026 or other signed work converts more slowly than expected, the valuation has very little cushion.
impact: this is how a concept multiple compresses before the business gets the chance to mature.
high
the loss base still dwarfs the revenue base
$105.6M in trailing losses against $4.9M in revenue tells you the operating model is still in build mode. If revenue grows but losses do not narrow, growth becomes expensive proof rather than progress.
impact: the financing question can arrive before the commercial proof does.
med
active shareholder investigation
Grabar Law Office is investigating claims on behalf of long-term shareholders. For a company that still needs trust from customers and investors, legal scrutiny is not background noise.
impact: credibility pressure shows up at exactly the stage when credibility is part of the asset base.
med
small-cap volatility does the damage early
price stability is 5 out of 100 and institutional ownership data is limited. That means sentiment can move the stock hard before operating results catch up.
impact: if you own it, volatility is not a side effect. It is part of the product.
The downside does not require the business to fail. It only requires the market to stop paying in advance for scale that has not shown up yet.
source: institutional data · regulatory filings · risk analysis
Pay attention to
near-term catalyst
Silicon-28 delivery in Q1 2026
this is the clearest proof point on the page. If the largest signed contract turns into delivered product and recognized revenue, the commercialization story stops being theoretical.
the number
$105.6M trailing net loss
watch whether losses start narrowing against that 345% revenue growth. Growth alone is not enough if the burn still dwarfs the business.
risk check
shareholder investigation updates
the legal overhang matters because this company needs investor trust almost as much as investor patience. Any escalation changes the funding and credibility conversation.
street view
$12 average price target versus $5.50 today
that 118% implied upside tells you how binary this setup looks on paper. Either analysts are early on a real industrial ramp, or the targets are ahead of the proof.
Analyst rankings
risk profile
average
risk rank 3 — typical risk profile — neither especially safe nor risky.
chart momentum
below average
momentum rank 4 — analysts see underperformance risk in the near term.
source: institutional data
Institutional activity
institutional ownership data for ASPI is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$6
current price
n/a
target midpoint · n/a from current
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