Name: Ascent Solar Technologies, Inc. Q2 2015 Earnings Call
Start: 2015-08-14T00:00:00.000Z

Executive Summary

Q2 2015 revenue was $2.20M, up +235% QoQ and +105% YoY, reflecting a sharp rebound from Q1’s seasonality and logistics headwinds . Operating loss improved to ($6.90M), about ~$1M better than ($7.90M) in Q2 2014 .
Management reiterated confidence in distribution expansion and EnerPlex acceptance; FY2015 revenue outlook was framed as “over $10M,” a qualitative narrowing from prior $10M–$12M guidance .
H1 2015 revenue reached $2.90M (+57% YoY), with H1 loss from operations improving to ($13.80M) from ($15.50M) in H1 2014 .
Key stock narrative drivers: dramatic QoQ growth (+235%) and continued operating loss improvement versus last year, offset by narrowing FY revenue guidance language and lack of EPS/margin disclosure in press releases .

What Went Well and What Went Wrong

Rapid top-line acceleration: “Reports Revenue of $2.2M, Approximately 235% Growth Quarter-Over-Quarter” and “up approximately 105% from the same period last year” .
Operating loss improvement: Loss from operations narrowed to ($6.90M) in Q2 2015 from ($7.90M) in Q2 2014, “an improvement of approximately $1M or 12.6%” .
Distribution and brand traction: “With the ongoing expansion of our distribution channels, I am optimistic to set yet another significant revenue milestone of over $10M for fiscal year 2015… accelerating growth and acceptance of the EnerPlex line of products in retail channels” — Victor Lee, CEO .

Q1 headwinds impacted trajectory: “First quarter results were negatively impacted by the typical seasonality… [and] a prolonged strike at west coast ports… pushing back deliveries into Q2” .
Profitability still distant: Despite YoY OI loss improvement, Q2 remained deeply negative at ($6.90M) .
Guidance language narrowed: FY2015 revenue outlook shifted from $10M–$12M to “over $10M,” reducing explicit upside range versus prior guidance .

Metric	Q4 2014	Q1 2015	Q2 2015
Revenue ($USD Millions)	$2.40	$0.66	$2.20
QoQ Growth %	+118%	N/A	+235%
YoY Growth %	~4x vs Q4 2013	N/A	+105%
Operating Income ($USD Millions)	N/A	N/A	($6.90)
EPS (Diluted, $USD)	N/A	N/A	N/A

H1 comparison:

Metric	H1 2014	H1 2015
Revenue ($USD Millions)	$1.80	$2.90
Revenue Growth YoY %	N/A	+57%
Loss from Operations ($USD Millions)	($15.50)	($13.80)
Loss from Operations Improvement vs Prior Year ($USD)	N/A	+$1.70
Loss from Operations Improvement vs Prior Year (%)	N/A	+11%

Segment snapshot (where disclosed):

Segment Metric	Q4 2014	Q1 2015	Q2 2015
EnerPlex Product Revenue ($USD Millions)	$2.30	N/A	N/A

Notes:

Press releases did not disclose EPS, gross margin, EBIT/EBITDA or detailed segment mix for Q1/Q2; only EnerPlex revenue was provided for Q4 2014 .

Metric	Period	Previous Guidance	Current Guidance	Change
Revenue	FY 2015	$10M–$12M (100% YoY growth over 2014)	“Over $10M”	Lowered/narrowed (reduced explicit range and implied midpoint)

Topic	Previous Mentions (Q-2 and Q-1)	Current Period (Q2 2015)	Trend
Distribution expansion & retailer penetration	“Further expand our distribution channels domestically and internationally” (Q4 2014) ; “Entrance into several new retailers in the first half of the year” (Q1 2015)	“Ongoing expansion of our distribution channels… accelerating growth and acceptance of the EnerPlex line”	Improving
High-value PV markets (UAVs, portable PV)	“Growing acceptance in our focused high-value PV market” (Q4 2014)	“PV integrated UAVs and Portable PV power solutions… mature development stage” (Q1 2015) ; “Fully prepared to execute… high-value PV markets” (Q2 2015)	Progressing toward commercialization
Supply chain/logistics	N/A (Q4 2014)	“Prolonged strike at west coast ports… delays in product delivery for Q1” (Q1 2015)	No new constraints mentioned in Q2; normalization implied
Seasonality	N/A (Q4 2014)	“First quarter is typically the slowest” (Q1 2015)	Rebound evident in Q2 (+235% QoQ)
Manufacturing transition	“Transition of some manufacturing to Asia” (Q4 2014)	N/A	Plan referenced in Q4; no update in Q1/Q2
Revenue milestones	“First ever $5M annual revenue” (FY2014 milestone)	“Reiterates FY2015 $10M–$12M” (Q1) ; “Over $10M” aspiration (Q2)	Upward trajectory, but guidance range narrowed in Q2

“I am pleased with the continued growth in the first half of 2015… optimistic to set yet another significant revenue milestone of over $10M for fiscal year 2015. The repositioning of Ascent Solar over the past 3 years is beginning to yield results… accelerating growth and acceptance of the EnerPlex line of products in retail channels.” — Victor Lee, President & CEO .
“We are very excited about the increased visibility of our EnerPlex products in growing numbers of reputable retailers… we feel comfortable confirming our previously issued FY 2015 revenue guidance of 100% growth over 2014.” — Victor Lee, Q1 update .
“We are extremely encouraged by the rapid growth of EnerPlex and we expect to see sales continue to grow rapidly… growing acceptance in our focused high-value PV market… transition of some manufacturing to Asia.” — Q4/FY2014 release .

No analyst Q&A available; no earnings call transcript was found among available Q2 2015 documents.

Wall Street consensus (S&P Global) for Q2 2015 EPS and revenue was unavailable to us today due to access limits; as a result, we cannot determine beat/miss versus consensus for this quarter. Where estimates are needed, we default to S&P Global; in this case, values were unavailable.

Momentum inflection: Q2 revenue surged to $2.20M (+235% QoQ, +105% YoY), signaling strong post-Q1 recovery and growing retail traction for EnerPlex .
Loss trajectory improving: Q2 operating loss narrowed to ($6.90M), ~$1M better YoY, consistent with scaling and operational efficiencies noted by management .
FY outlook narrowed: Guidance language shifted to “over $10M” from $10M–$12M, trimming explicit upside even as revenue velocity improves; monitor H2 execution vs implied ≥$10M target .
H1 setup supportive: Back-ordered bookings from Q1 logistics delays, plus new retailer doors, underpin H2 revenue cadence .
Strategic dual-track intact: Consumer EnerPlex retail growth and progressing high-value PV applications (e.g., UAVs) broaden potential revenue streams .
Disclosure gaps: Press releases did not provide EPS/margins; without consensus estimates, near-term beat/miss narrative is constrained—watch for 10-Q filings and future updates for margin cadence and cash metrics .
Trading lens: The quarter’s extreme QoQ growth and improved OI are positive momentum signals; balancing factor is the narrowed FY language. Near-term catalyst path = confirmation of H2 ramp and any tangible wins in high-value PV programs .