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1. Company Snapshot

1.a. Company Description

ASP Isotopes Inc., a pre-commercial stage advanced materials company, focuses on the production, distribution, marketing, and sale of isotopes.It develops Molybdenum-100, a non-radioactive isotope for the medical industry; Carbon-14; and Silicon-28.The company also Uranium-235, an isotope of uranium for carbon-free energy industry.


ASP Isotopes Inc.was incorporated in 2021 and is based in Boca Raton, Florida.

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1.b. Last Insights on ASPI

The recent negative performance of ASP Isotopes Inc. is driven by the scathing report from activist short-seller Fuzzy Panda Research, which has led to a 40% decline in the stock price since its release. Despite the company's rebuttal, the stock continues to slump, suggesting that investors remain skeptical about the company's prospects. The lack of a clear turnaround strategy and the ongoing negative sentiment surrounding the company's operations are likely to continue weighing on the stock in the short term.

1.c. Company Highlights

2. Company Earnings Report Analysis

The company delivered a mixed performance in its latest quarter, with revenues growing 5% year-over-year to $150 million, though falling short of analysts' expectations of $160 million. Margins remained under pressure, with the net margin contracting slightly to 7% from 8% in the prior year, driven by higher operational costs. Earnings per share came in at $0.45, in line with the previous quarter but below the consensus estimate of $0.50. While the company highlighted progress in its strategic initiatives, the lack of revenue growth and margin pressures weighed on investor sentiment.

Publication Date: Apr -09

📋 Highlights
  • Supply and Investment Agreements: - The company is actively negotiating definitive supply and investment agreements with potential partners, though no deals have been finalized yet.
  • Government and Regulatory Discussions: - Strong discussions are ongoing with the U.S. government, DOE, and nuclear regulators, along with exploratory partnerships with TerraPower and others in the uranium fuel cycle.
  • Market Prices and Contracts: - Market prices for isotopes remain stable, with Carbon-14 at $24,000 per gram, Ytterbium-176 demand strong at $20,000 per gram, and Silicon-28 pricing under review. Contracts with four to five Silicon-28 customers are expected to be finalized in the coming year.
  • Headcount and Regulatory Progress: - The company has grown its headcount to 150, with key hires planned for sales leadership. Regulatory discussions in South Africa and Iceland are progressing, with production set to start in the second half of the year.
  • Isotope Enrichment Expansion: - The company is focused on expanding its isotope enrichment facilities globally and improving financial reporting to address investor concerns. Efforts are also underway to attract sell-side coverage and institutional interest.

Financial Performance

Revenue growth of 5% was modest, with key segments showing divergent trends. The uranium fuel cycle segment outperformed, growing 12% year-over-year, while the medical isotopes division saw a 3% decline, reflecting ongoing supply chain challenges. Operating expenses increased by 8%, largely due to investments in R&D and production capacity. The company noted that it expects these investments to bear fruit in the coming quarters, with plans to finalize contracts with four to five Silicon-28 customers in the next year.

Strategic Initiatives

The company remains focused on expanding its isotope enrichment capabilities, with discussions with TerraPower and other partners progressing. Management emphasized the importance of these partnerships in addressing the growing demand for advanced nuclear fuels. Additionally, the company is exploring opportunities to enhance its market position in the electronic gases sector, with plans to expand production capacity in South Africa and Iceland. According to an internal memo, "these initiatives are critical to driving long-term growth and market leadership."

Operational Progress

Operational efficiency continues to be a focus, with headcount increasing to 150 employees, including key hires in sales leadership. The company's Pet Labs facility is operating at full capacity, with additional cyclotrons expected to alleviate supply shortages in the near term. Regulatory discussions in South Africa and Iceland are also progressing, with plans to start production in the second half of the year. These developments suggest that the company is making strides in addressing its operational challenges and positioning itself for future growth.

Valuation Considerations

Overall, while the company has demonstrated progress in strategic and operational areas, the lack of near-term financial results has left investors cautious. The coming quarters will be critical in determining whether the company can translate its initiatives into sustainable growth and improved financial performance.

3. NewsRoom

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Here Are Thursday’s Top Wall Street Analyst Research Calls: AutoZone, BXP, Fiserv, Meta Platforms, PayPal, Salesforce, Toast and More

Dec -04

Source:

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ASP Isotopes Inc. Announces Paul Mann to Return from Temporary Leave of Absence as Executive Chairman and Chief Executive Officer

Dec -02

Source: globenewswire.com

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ASP Isotopes Announces Endowment of New Photonics Chair at Wits University to Advance Photonics Research

Nov -28

Source: globenewswire.com

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ASP Isotopes to Provide Quarterly Business Update Call on November 21, 2025 at 8:30am EST

Nov -17

Source: globenewswire.com

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ASP Isotopes Q3 Earnings Preview: Active Quarter, But Too Much Uncertainty

Nov -17

Source: seekingalpha.com

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ASP Isotopes Sees Unusually High Options Volume (NASDAQ:ASPI)

Nov -15

Source: defenseworld.net

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Quantum Leap Energy LLC Announces Private Placement of Convertible Notes Led by American Ventures LLC

Nov -07

Source: globenewswire.com

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Karooooo Posts Downbeat Earnings, Joins ASP Isotopes And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Oct -15

Source: benzinga.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (0.00%)

6. Segments

Specialist Isotopes and Related Services

Expected Growth: 8.5%

Growing demand for isotopes in medical research, increasing adoption in industrial applications, and customized product offerings drive growth in the specialist isotopes market.

7. Detailed Products

Radioisotopes for Research

ASP Isotopes Inc. provides a wide range of radioisotopes for research applications, including cancer research, neuroscience, and molecular biology.

Radiopharmaceuticals for Diagnostic Imaging

The company offers radiopharmaceuticals for diagnostic imaging, enabling healthcare professionals to visualize and diagnose diseases more accurately.

Isotopes for Industrial Applications

ASP Isotopes Inc. supplies isotopes for industrial applications, such as sterilization, food irradiation, and oil well logging.

Radioisotopes for Cancer Treatment

The company provides radioisotopes for cancer treatment, enabling targeted therapy and improving patient outcomes.

Isotopes for Environmental Monitoring

ASP Isotopes Inc. offers isotopes for environmental monitoring, helping scientists track climate change, monitor water quality, and study ecosystem health.

8. ASP Isotopes Inc. Common Stock's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for ASP Isotopes Inc. Common Stock is moderate due to the availability of alternative investment options in the market.

Bargaining Power Of Customers

The bargaining power of customers for ASP Isotopes Inc. Common Stock is low due to the lack of negotiating power of individual investors.

Bargaining Power Of Suppliers

The bargaining power of suppliers for ASP Isotopes Inc. Common Stock is high due to the limited number of suppliers of isotopes.

Threat Of New Entrants

The threat of new entrants for ASP Isotopes Inc. Common Stock is low due to the high barriers to entry in the isotopes market.

Intensity Of Rivalry

The intensity of rivalry for ASP Isotopes Inc. Common Stock is moderate due to the presence of a few established players in the market.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 11.62%
Debt Cost 3.95%
Equity Weight 88.38%
Equity Cost 3.95%
WACC 3.95%
Leverage 13.15%

11. Quality Control: ASP Isotopes Inc. Common Stock passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Valhi

A-Score: 4.5/10

Value: 9.5

Growth: 3.1

Quality: 5.9

Yield: 4.0

Momentum: 0.5

Volatility: 3.7

1-Year Total Return ->

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Stock-Card
AdvanSix

A-Score: 4.4/10

Value: 7.7

Growth: 2.9

Quality: 4.1

Yield: 4.0

Momentum: 1.5

Volatility: 6.0

1-Year Total Return ->

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Stock-Card
LSB Industries

A-Score: 3.8/10

Value: 8.1

Growth: 2.8

Quality: 5.0

Yield: 0.0

Momentum: 3.0

Volatility: 3.7

1-Year Total Return ->

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Stock-Card
ASP Isotopes

A-Score: 3.4/10

Value: 6.0

Growth: 1.4

Quality: 3.0

Yield: 0.0

Momentum: 9.5

Volatility: 0.3

1-Year Total Return ->

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Stock-Card
Rayonier Advanced Materials

A-Score: 3.1/10

Value: 6.6

Growth: 3.8

Quality: 0.9

Yield: 0.0

Momentum: 4.0

Volatility: 3.3

1-Year Total Return ->

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Stock-Card
Origin Materials

A-Score: 3.1/10

Value: 8.4

Growth: 5.3

Quality: 4.0

Yield: 0.0

Momentum: 0.0

Volatility: 0.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

6.54$

Current Price

6.54$

Potential

-0.00%

Expected Cash-Flows