Space solar panel manufacturer Ascent Solar (NASDAQ: ASTI) continues it struggles. Their financial report filed for Q1 2025 revealed total revenue of just $15,624 and loss of $1.7 million. This, however, marks an improvement over the prior quarter’s zero revenue.
Ascent Solar announced in March the sale and delivery of solar panels to a space manufacturer, with the launch apparently scheduled for later this year. However, the revenue associated with this sale appears minimal, capped by the $15,624 figure. Ascent Solar had previously forecasted an annual revenue of $50 to $80 million for 2025. If the European space company sale constituted all of last quarter’s revenue, Ascent Solar would need to close 3,200 sales of similar magnitude this year to reach the lower end of this forecast.
Facing another quarter of substantial losses, Ascent Solar is once again approaching a cash shortage and will likely seek to sell new stock to investors to secure necessary operating capital.