Astrotech Corp Stock Price, News & Analysis

Astrotech (NASDAQ: ASTC) reported its Q3 FY2025 financial results, showing significant revenue growth to $534,000 compared to $50,000 in Q3 FY2024. The revenue came from TRACER 1000™ shipments, a government grant, and recurring sales. The company maintains a strong balance sheet with $20.9 million in cash and investments, down from $31.9 million in June 2024.

Key developments include a DHS R&D contract for the TRACER 1000, a $429,000 purchase order from Intuitive Research, the creation of EN-SCAN subsidiary for environmental testing, and the configuration of TRACER 1000 NTD for synthetic opiate detection. The company's mass spectrometry instruments are now deployed in 15 countries for explosive trace detection, with expanded applications in narcotics detection, environmental monitoring, and chemical processing.

Astrotech (ASTC) has announced the launch of an enhanced version of its TRACER 1000™ Narcotics Trace Detector through its 1st Detect subsidiary. The upgraded device is specifically designed to detect synthetic opiates and novel psychoactive substances (NPS).

The enhanced TRACER 1000 NTD utilizes advanced mass spectrometry technology to identify minute traces of illicit substances, including fentanyl analogs and emerging synthetic drugs. Key features include:

• Full-spectrum screening capabilities
• High precision and sensitivity detection
• Rapid analysis with results in seconds
• User-friendly interface with minimal training requirements

According to Thomas B. Pickens, III, Chairman and CEO of 1st Detect, this launch represents significant progress in combating synthetic opiates and NPS. The device is now available for deployment across security, public safety, and healthcare sectors.

Astrotech (NASDAQ: ASTC) has announced the creation of a new wholly owned subsidiary, EN-SCAN, focused on manufacturing environmental testing instruments using proprietary ATi Gas Chromatograph and Astrotech Mass Spectrometer Technology.

The company will introduce three new products at PITTCON 2025 in Boston:

• EN-SCAN Rugged-Lab GC-MS: A transportable system for on-site analysis of air, water, and soil
• EN-SCAN Fenceline Monitor: A continuous emissions monitoring system for detecting pollutants like BTEX at refineries
• EN-SCAN Handheld GC: A portable device for detecting volatile organic compounds and contaminants

The product line is designed for outdoor field work, providing real-time analysis and instant feedback for contamination source location and migration in demanding environments.

Astrotech (NASDAQ: ASTC) reported Q2 FY2025 financial results with revenue of $295 thousand, primarily from activities with the U.S. Department of Homeland Security (DHS) for the TRACER 1000™ explosives trace detection system. The company maintains a strong balance sheet with $24.7 million in cash and liquid investments.

Key developments include a new R&D contract (70RSAT24CB0000015) with DHS for the TRACER 1000 and a purchase order from Intuitive Research and Technology , a TSA contractor. The company's 1st Detect subsidiary has expanded its product line to include narcotics trace detection, particularly focusing on fentanyl identification, and introduced Pro-Control products for chemical manufacturing process optimization.

The TRACER 1000 has demonstrated success with four years of operational history in cargo warehouses across 14 countries, processing thousands of samples.

Astrotech (NASDAQ: ASTC) announced the resignation of Chief Financial Officer Jaime Hinojosa, effective February 14, 2025. Hinojosa will transition to work in his family business in Houston, while continuing to provide consulting services to Astrotech through June 30, 2025.

The company has appointed Ryan Polk as interim Chief Financial Officer, effective February 14, 2025. Polk brings experience as CFO in both public and private entities, with expertise in scaling companies through organic growth and acquisition.

CEO Tom Pickens acknowledged Hinojosa's contributions to the company's financial and regulatory reporting, as well as his dedication to employees, customers, and suppliers.

Astrotech (NASDAQ: ASTC) announced that its subsidiary 1st Detect has secured its first purchase order for TRACER 1000™ explosive trace detectors (ETDs) from Intuitive Research and Technology , a TSA contractor. The order is valued at $429K and is expected to be recognized in FY2025.

The TRACER 1000, powered by Astrotech Mass Spectrometer Technology™, is the first TSA-approved ETD utilizing mass spectrometry technology. This breakthrough enables laboratory-level analysis with near-zero false alarms and an unlimited detection library, making previously laboratory-confined mass spectrometry technology practical for field use.

Astrotech (NASDAQ: ASTC) and its subsidiary 1st Detect have secured a research and development contract from the U.S. Department of Homeland Security (DHS) to enhance their TRACER 1000 explosives trace detection system. The contract, numbered 70RSAT24CB0000015, aims to develop improved detection capabilities against evolving security threats.

The project is structured in two 15-month phases with a total potential value of $1,290,650. Phase 1 is valued at $581,639, while Phase 2, which is optional and dependent on successful completion of Phase 1, is worth $709,011. The entire project spans 30 months and aligns with DHS's Long Range Broad Agency Announcement No. 18-01 objectives.

Astrotech (ASTC) reported Q1 FY2025 financial results for the period ended September 30, 2024. Operating expenses increased by $119 thousand (3.3%) due to increased trade event participation. The company maintains a strong balance sheet with $28.3 million in cash and liquid investments. Through its subsidiary 1st Detect, the company is advancing in DHS certification processes, with the TRACER 1000 approved for the Air Cargo Security Technology List and proceeding to Stage II testing. The company continues to demonstrate its explosive and narcotic detection technology at airports, border crossings, and prisons globally.

Astrotech (Nasdaq: ASTC) reported financial results for the fiscal year ended June 30, 2024. Key highlights include:

- Revenue increased to $1.7 million, driven by 1st Detect's explosives trace detectors in the international passenger market
- Gross margin improved to 45% from 41% in the prior period
- The TRACER 1000 was approved by TSA for the Air Cargo Security Technology List and advanced to Stage II testing
- 1st Detect began accepting orders for the TRACER 1000 Narcotics Trace Detector
- TRACER 1000 NTD and ETD were registered with the U.S. GSA IT Schedule 70
- Astrotech formed Pro-Control, a new subsidiary for industrial process control applications
- AgLAB and SC Labs entered a master lease agreement for joint marketing of AgLAB 1000-D2™ and MVP™ testing method
- Astrotech's consolidated balance sheet showed $31.9 million in cash and liquid investments