Aspen Aerogels Inc. (ASPN) stock plummeted 33.62% in pre-market trading on Thursday, following the company's fourth-quarter 2024 financial results and weaker-than-expected guidance for the first quarter of 2025.

While the company reported better-than-expected Q4 revenue and earnings, beating analysts' estimates, the market reacted negatively to Aspen Aerogels' disappointing outlook for Q1 2025. The company provided a Q1 revenue guidance range of $75 million to $95 million, significantly lower than the consensus estimate of $104.22 million. Its Q1 EPS guidance range of ($0.18) to $0.00 also fell short of the consensus estimate of $0.08.

Adding to the stock's pre-market plunge, Aspen Aerogels also announced that it is halting the construction of its Statesboro manufacturing facility, citing the need to focus resources on its existing operations. This decision raised concerns among investors about the company's growth prospects and ability to meet future demand.