Ascent Solar Technologies, Inc.

Listed Company

ASTICIK 0001350102NasdaqNon-AcceleratedSmaller ReportingSemiconductors & Related DevicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$76.8K

Net Income

$-7.83M

Total Assets

$6.33M

Equity

$3.34M

Shares Out

9.46M

Op. Cash Flow

$-6.90M

Business

Ascent Solar Technologies, Inc. is a solar technology company that develops and manufactures flexible, lightweight CIGS photovoltaic modules for specialized, weight-sensitive markets. It offers flexible PV solar modules and finished integrated products designed for space power beaming, aerospace, satellites, near‑earth vehicles, fixed‑wing UAVs and agrivoltaics, and supplies unpackaged CIGS rolls for integration. Its operations include roll‑to‑roll front‑end module manufacturing, back‑end packaging and ongoing R&D and IP management. The company sells and partners with customers and integrators globally across specialty and commercial channels.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Products	76,773	41,893	458,260	1	607,783
Costs of revenue	196,332	148,376	2	2	2
Research, development and manufacturing operations	2	2	3	6	4
Selling, general and administrative	4	5	5	5	3
Share-based compensation	1	1	2	5	—
Depreciation and amortization	79,661	74,142	95,238	75,645	57,314
Impairment loss	0	524,481	3	0	—
Total Costs and Expenses	8	9	16	18	9
Loss from Operations	−8	−9	−16	−17	−9
Other income/(expense), net	94,478	818,721	747,739	33,100	−169,423
Warrant settlement (Note 10)	—	−743,462	—	—	—
Interest expense	−51,994	−665,718	−2	−3	−1
Total Other Income/(Expense)	42,484	−590,459	−1	−3	3
Income/(Loss) on Equity Method Investment	−858	−2,666	−232	−27,361	—
Net Income/(Loss)	−8	−9	−17	−20	−6
Less: Series 1C preferred stock dividends	−65,944	−33,301	—	—	—
Net Income Available to Common Shareholders	−8	−9	−35	−17	—
Net Income/(Loss) Per Share (Basic)	−3.09	−10.38	−3,419	−132	−1.54
Net Income/(Loss) Per Share (Diluted)	−3.09	−10.38	−3,419	−132	−1.54
Weighted Average Common Shares Outstanding (Basic)	3	882,547	10,251	149,016	4
Weighted Average Common Shares Outstanding (Diluted)	3	882,547	10,251	149,016	4
Foreign currency translation gain/(loss)	7,892	−4,014	24,960	−16,024	—
Net Comprehensive Income/(Loss)	−8	−9	−17	−20	−6

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	3	3	1	11	6
Trade receivables, net of allowance of $0 and $0, respectively	0	0	0	1,769	49,250
Inventories	543,617	453,103	447,496	615,283	592,172
Prepaid and other current assets	54,569	89,472	39,279	344,110	247,736
Total current assets	3	4	2	12	7
Property, Plant and Equipment:	19	20	21	23	22
Accumulated depreciation	−19	−19	−20	−22	−22
Property, Plant and Equipment, net	190,085	233,656	1	551,661	279,662
Operating lease right-of-use assets, net	1	2	2	4	5
Patents, net of accumulated amortization of $141,189 and $137,114, respectively	9,131	28,494	53,978	79,983	86,595
Equity method investment	69,221	62,187	68,867	61,379	21,205
Other investment	75,000	—	—	—	—
Other non-current assets	1	1	1	1	625,000
Total other assets	3	3	4	6	6
Total Assets	6	7	6	19	13
Accounts payable	394,701	449,437	579,237	595,157	642,165
Related party payables	5,769	5,769	4,231	67,164	—
Accrued expenses	240,857	246,159	1	888,869	657,216
Accrued payroll	211,275	192,856	160,477	—	—
Accrued professional services fees	62,039	222,704	849,282	952,573	103,620
Accrued interest	614,541	565,773	628,145	559,060	475,671
Current portion of operating lease liability	676,595	578,153	491,440	733,572	646,742
Bridge loan	—	19,555	—	—	—
Total current liabilities	2	2	6	5	3
Non-current operating lease liabilities	788,277	1	2	4	2
Accrued warranty liability	—	21,225	21,225	21,225	21,225
Total liabilities	3	4	8	14	16
Commitments and contingencies (Note 17)	—	—	—	—	—
Preferred Stock	5	5	5	5	5
Common stock, $0.0001 par value, 200,000,000 authorized; 4,662,208 and 1,454,896 shares issued and outstanding, respectively	466	145	24	26	479
Additional paid in capital	503	495	481	452	425
Accumulated deficit	−499	−492	−482	−448	−428
Accumulated other comprehensive loss	12,814	4,922	8,936	−16,024	—
Total stockholders' equity	3	3	−2	899,298	−3
Total Liabilities and Stockholders' Equity	6	7	6	19	13

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	79,661	74,142	95,238	75,645	57,314
Share-based compensation	1	1	2	5	—
Stock issued for warrant settlement	—	743,459	—	—	—
Stock issued for services	—	38,500	92,750	—	—
Amortization of debt discount	2,780	103,530	2	3	1
Operating lease asset amortization	547,940	484,300	667,526	694,229	648,975
Patent write off	—	18,991	26,419	—	297,702
Inventory reserve expense	−4,185	−34,658	—	—	—
Gain on settlement of liabilities, net	−35,039	−165,548	—	—	—
Gain on Swiss liabilities (Note 5)	0	−541,021	—	—	—
Other	15,288	—	—	4,497	—
Inventories	−86,329	29,051	−124,760	−23,111	−57,741
Prepaid expenses and other current assets	−8,053	−49,795	192,273	−686,359	−301,161
Accounts payable	−19,697	−129,800	−15,920	−47,008	−77,173
Related party payable	—	1,538	−62,933	22,164	−90,834
Operating lease liabilities	−578,153	−491,440	−649,991	—	—
Accrued interest	48,768	28,176	69,085	83,389	62,781
Accrued expenses	−168,773	−939,659	−202,230	2	−292,442
Net cash (used in) operating activities	−7	−8	−10	−11	−9
Purchase of property, plant and equipment	−32,015	−421	−4	−169,357	−280,317
Purchase of cost investment	−75,000	—	—	—	—
Net cash provided by (used in) investing activities	−107,015	−421	−4	−265,472	−301,522
Proceeds from bridge loans	—	1	—	—	—
Repayment of bridge loans	−22,335	−1	—	—	—
Proceeds from issuance of stock and warrants	7	15	10	5	16
Financing issuance cost	−671,115	−1	—	—	—
Warrant repurchase	—	−4	—	—	—
Exercise of warrants	750,000	—	—	—	—
Payment of convertible notes, cash payable, and other payable	—	−381,664	−6	—	—
Net cash provided by (used in) financing activities	7	11	3	16	16
Net change in cash and cash equivalents	−384,250	2	−10	6	6
Conversions of preferred stock, convertible notes, and conversions payable to equity	—	1	3	11	—
Exercise of prefunded warrants	50	22	247	—	—
Series 1C conversions	4	—	—	—	—

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